Finance for Entrepreneurs: 5 Tips for Taking Care of Your Hard-Earned Cash + Bonus

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One of the biggest fears and insecurities that prevent people from entering the world of entrepreneurship is the financial aspect. Organizing expenses, understanding how much money your company needs or will need in the first few months, and filling out spreadsheets can make any new entrepreneur's hair stand on end.

That's why we've brought you 5 financial tips for entrepreneurs so you can start organizing your company's finances the right way. If you're already an entrepreneur, check out these tips because they can help you organize the mess and get your house in order.

5 Finance Tips for Entrepreneurs + Bonus
1. Plan your spending and prepare for expenses
Financial tips for entrepreneurs start before you even spend a single cent; they start with planning. Not keeping track of your personal finances can negatively impact your business, since it is impossible to make money by spending more than you earn.

Make a list of all the expenses you will have with your new usa phone number lead business and any potential unforeseen events. They will happen, one way or another, and the best way to deal with them is to be prepared for them. And the best way to do this is our next tip.

2. Have an emergency fund
Having an emergency fund will help you overcome financial setbacks. If you haven’t started yet, set aside a nest egg to cover your business’s initial expenses and unexpected expenses.

If you are already an entrepreneur, cut costs and try to save a little each month to put into the company's emergency fund. Ideally, this fund should be equivalent to at least six times your monthly expenses.

3. Separate personal and professional finances
Another essential financial tip for entrepreneurs: separate personal and professional expenses. Your personal organization will directly influence the company's finances, but they should not be mixed.

Therefore, the ideal is to have two accounts and transfer your salary, which we will explain in more detail in the next step, monthly. This money should be used for your personal expenses, while the rest of the money remains in the company account.

4. Establish the pro-labore
The pro-labore is the remuneration for the work done by the partner or self-employed professional. The amount must be withdrawn monthly to guarantee the separate accounts that we explained in tip 3.

When setting the amount, you should take into account your home and business planning. This amount should be fixed, even in months when profits are higher, since the surplus should be saved for possible drops in sales and unforeseen events (tip 2!).

Over time, when the company is more stable, with constant revenue and a good emergency reserve, the value of the pro-labore can be readjusted, but always keeping in mind how much cash the company needs to evolve.

5. Need money? Know where to find it
Financing and loans are common in entrepreneurial finances and should be considered when raising money for your company. The problem is when there is no prior research and planning and these expenses end up damaging the company's entire budget.

We have already discussed 5 ways to raise funds for a business , including crowdfunding, partner investors and angel investors. These are ways of raising funds for entrepreneurs that have a smaller impact on the accounts than financing and loans from large banks.

Bonus tip: seek specialized help
A bonus finance tip for entrepreneurs: when the entrepreneur is a centralizing person, he or she tries to solve everything alone. But seeking external help can help resolve issues more quickly, in addition to the specialist obtaining an overview of the business and experiences with other ventures that can add value.


Getting help from professionals through consulting or specialized companies is a small action that can define the future of your company. 55 Lab, in addition to coworking and a fiscal address, offers an entrepreneurial community, with courses and online meetings so that you can be close to other entrepreneurs and can get all the help you need to get your business off the ground .