PIGGYWISE

a personal finance blog for better life

Finance

Financial and Business Advantages of Cloud Computing for Small Business

Advantages of Cloud Computing for Small BusinessOne of the key reasons why many small businesses fail is the ability to generate cash flow on a consistent basis. Predictable cash flow is the result of smoothing spikes in a business, making sure your IT is reliable and your ability to bump in more resources when required with minimum impact on the budget.

It is simple now, compared to the days where you have to purchase hardware, software, figure out licenses and pay IT people to build systems for your business. The minimum requirement is to have a backup and roll-back systems in case it errors out.

A large-scale organization can afford this with all the resources and IT staff working behind 24X7. But for a small-scale business it is not practical to spend this amount of resources and money, more over it doesn’t make business sense to spend money in establishing these infrastructure when cloud can do it for a fraction of cost. A better use of the capital would be spent  on generating new leads….

Read More

Top 5 To Do List of Personal Finance When Starting Out

Top 5 to do list of personal finance, especially the 2nd one

College is the new found freedom for many, as we get out of college into life’s reality of paying bills and lifestyle, we are most likely hit by the amount of debt that’s been accumulated on credit card and student loan.

Even with our new found income in our twenties we are more likely to spend more on clothes and entertainment and travelling than repaying debt or planning for retirement.

The earlier you start planning your retirement and prepare your road map for investment, the higher would be returns based on your strategy. At early age you also have the leverage of taking higher risk, which seems to be reducing with age, giving you the time to recoup any potential losses incurred.

Your to do list of financial planning could include the following priorities….

Read More

How to prepare your business for sale- by owner

How to prepare business for sale by owner

No matter how much you love your business, there might be a day when you want to either pass this to your successor or put it on sale.

Everyday grinding might place the owner to be complacent at what the buyer needs or looks for in a business. Owners might not actually look into preparing business for sale until they have engaged with buyers, most of the time this will make the owner leaving large amount of money on the table.

If running day-to-day business is one thing then preparing it for sale is whole new art. There are many strategies you could use to sell your business like you could use Family succession, Management buy out, franchise or you could find a potential internal manager to buy it from you. No matter what strategy you use, to get the best out of this deal you need to prepare your business for sale.

Executive Management Team

Significant amount of time is required to build a team, in the initial stages of establishing company, you might go across teams, that are difficult to manage, non-collaborative and non-accountable to business. Over a period of trial and error, you have built a management team that’s effective at doing what they do. You have invested significant amount of time and effort in building this profitable team, buyers prefer to have a business that runs on its, demanding minimum time from the owner….

Read More