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A business’ cash flow is by far the most underrated area in most micro and small businesses.

It is no wonder then, that startup failure rates are high - 9 out of every 10 startups fail

Of course, startup failure is not planned by an Entrepreneur. People who venture into the startup world usually know what they want to do, and at most, they have a plan, that if followed, they will have eventual success. These startup Entrepreneurs have done their research and have come to the realization that their product or service will indeed solve real needs in the market. And so, they set out on their entrepreneurial journey.

But success as an Entrepreneur depends largely on Money Management. Talks about money remain somewhat taboo, and startup Entrepreneurs’ attitude to financial management is paramount to their success in business. As a result, cash flow should be every founder’s key focus in the early years of the business and beyond.

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We are always looking for Beta-Testers for our programs and short courses before we launch them publicly.

What this means is that we always test the market for each program we're about to put out. When you sign up to be a Timely Beta-Tester (TBT), you basically get our courses and programs at no cost AND you are privy to first-hand information that the rest of our audience will receive after you have done the trial. There is no limit as to the number of programs or courses that you can be a Timely Beta-Tester for.

There are a lot of ACTION steps that go into starting and managing a business. Our Beta-Tester program allows you to become trained with us while you partner with us to help improve the delivery of such programs.

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Most people know they want to start a business. What they don’t know most of the times, is how they’re going to fund their business. This is the stumbling block for many eager Entrepreneurs who simply give up their idea or dream when they just can’t figure this part out.  

When clients come to us with their interest to start a business, we make sure they understand what they are getting into financially, and that they understand the words ‘cash-flow’. Too many persons only pay attention to the frills of owning a business without taking into consideration, the in-depth details required to make a business survive and thrive. There are a lot of persons who start a business, and not enough Entrepreneurs who are able to seek out opportunities to create a sustainable, viable business, keep learning, keep creating, and keep innovating. If you’re going to build a business, why not build one to last? Why not build one your children or a future investor or buyer can take over?

So where are we going with this? Listen, if you want to start a business, you have got to keep your head in the game from the moment the idea comes to you, and not get carried away by the ‘shiny object syndrome.

So let’s talk Money! No, better yet, Capital! Where is it going to come from? This is your first business. Are you going to rely on the banks to just drop some money into your idea after you present them with a Business Plan? A Business Plan you paid someone else to do and you can’t even explain? To be quite honest with you, without a trading record, getting startup finance from a bank is going to be difficult no matter how good your idea seems.

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As required within the jurisdiction of Trinidad and Tobago, individuals or businesses that makes a gross sales value of TT$500,000 or in excess of TT$500,000 in any 12-month period, MUST register for VAT.

Individuals and businesses whose sales forecast is TT$500,000 or more within any 12-month period, MUST also register.

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Not everyone is going to like, or want, or even purchase what you’re offering, and that’s quite okay.

Don’t take it personally. (Taken from a past blog we wrote).

There is absolutely no way, everyone is going to like what you do or what you have to say. Not everyone you bounce ideas off will agree and support your decisions. However, as an Entrepreneur, you must know that it is OK!

We recently had a new Entrepreneur who was afraid to show her progress. It was almost like she was ashamed of stepping out for fear of what people would say. We didn’t get it. We didn’t understand why she didn’t want to be celebrated, why she bothered to care what someone would say. After all, she was successful in getting started and she started making money before even launching the business! That certainly was something to celebrate.

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Cherise Castle-Blugh is the author of The Timely Entrepreneur Series and the Director of Entrepreneur Services at The Timely Entrepreneur®. She has been working to grow the Trinidad and Tobago Entrepreneurial community, creating resources and events to support entrepreneurs.