Get ready to move up to that corner office or start your own enterprise. JETmag.com is partnering with award-winning entrepreneur and founder of The BOSS Network, Cameka Smith, to bring you "Ask The BOSS" every month. This feature will take your questions and offer you career and entrepreneurial advice. You can submit your own question via our [email protected] and don't worry; we'll keep your name and identity confidential. Now we have a question from a reader we will call "Mo Money, Mo Problems."
Question for the Boss: What is your best advice on saving money while still growing your business?
Dear "Mo Money, Mo Problems": We all know you need the saying "you have to spend money to make money," but there are some sure-fire ways to manage the cash-flow of your business. The main thing you want to do is focus on creating multiple revenue streams in your business, so you have a good cash reserve. There are expenses in business that are necessary but you can handle them without over-spending your budget.
For additional cash, you can take advantage of small business loans or programs like Paypal's "Working Capital." This program is very helpful as it allows small business owners to borrow money with no interest, only an affordable fixed fee that starts as low as $69. You also can designate the percentage per PayPal transaction you want to pay back. More details HERE.
Read the entire article at Jet Magazine.
