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Leadership/Innovation

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5 Finance Tips All Business Owners Should Follow

Eric Siu writes for Entrepreneur with five tips to handle finance in your business even if money is not your forte. The first tip is that neatly categorizing expenses, employee payments, invoices, etc. from the outset will simplify troubles and reduce the likelihood that you will procrastinate on managing all of it. Next up, budget for “seasonal cash flow,” in that some products and services are more in demand at certain times of year. Do ...

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A Primer on Building a Business Budget

A guide at Inc. discusses the basic ins and outs of setting a budget for your business. A budget tells you how much money you have available to spend in order to hit your goals. It encompasses revenues, costs, and of course profits for a given time period. Always favor caution with your estimates, but try to be especially realistic with revenues, the business’s lifeblood. As for costs, there are three kinds: fixed costs, which ...

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Six Steps to a Better Business Budget

When you spend without having a budget in place, you are basically driving blind and hoping for the best. Glenn Curtis writes for Investopedia with steps to put a business budget together. Begin by using libraries, the IRS website, and conversations with other business owners to get a grip on average costs within your industry. Build a spreadsheet that calculates what percentage of revenue will be needed to cover various costs—raw materials, rent, taxes, etc. ...

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6 Smart Budgeting Tips for Running a Business

Are you quietly contemplating starting a business? Nicole Fallon Taylor has six tips at Business News Daily to get you started on budgeting. The first is to define and understand your risks, ranging from healthcare requirements to potential for natural disasters. Second, overestimate your expenses, because things seldom go exactly according to plan. Nevertheless, there does need to be a plan. Scrutinize your sales cycles, budget for lulls, and use the added time during slow ...

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How to Spot or Grow the Next Big Startup without Getting Burned

So you’ve finally got that personal loan application approved that will allow you to establish or invest in the next big startup. Should you be a founder or an investor? There are so many startups that keep sprouting everywhere, and each one sounds better than the last. We’ve seen a lot of startups that have grown bigger and more profitable over the years, and ordinary people becoming millionaires at a young age. Unfortunately, not all ...

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4 Tech Stereotypes to Get Rid Of

In an article for Computerworld, John Brandon pinpoints four antiquated types of people stereotypically imagined to exist in the IT industry. The first of course is that of the geeky guy wearing his glasses who is only interested in building computers. The second is the snarky know-it-all tech support, in conjunction with clueless users who refuse to educate themselves on the simplest technical practices. Third is the dumb executive who relies on the brilliance of ...

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Overcoming the IT Gender Stereotype: 3 Tips for Women

Sarah Lahav, CEO of SysAid, considers Jen Barber from The IT Crowd as a typical representation of a woman in IT setting—well-meaning, but utterly ignorant to a fault of anything and everything technical. This stereotype is so prevalent that being a woman who does know tech makes you an exciting job candidate instantly, as sad as that is. To really advance in your space as a woman, Lahav says to stand out, speak up, and ...

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IT Stereotypes: Time to Change

In unenlightened circles, IT people are a race of beady-eyed greasy recluses, scurrying out from behind their desks under cover of darkness just long enough to fix your printer. They are also the department of “no,” keepers of the status quo, champions of “If it ain’t broke, maintain it forever.” This is a bad rap for IT to bear, except among that small demographic of actual beady-eyed greasy recluses. In an article for InformationWeek, Romi ...

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Tech Industry Stereotypes Are Hindering Equality

As Carrie Anne Philbin points out in an article for the Guardian, nobody expects everyone to go out and become authors just because they were taught how to read and write. This line of thought can be used to introduce programming into schools (or, conversely, to revert to a society of illiterate apes). We need to get computer science in front of kids much earlier, before stereotypical attitudes of a “nerdy” industry cement in their ...

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We Might Prefer Women’s Code (If We Don’t Know a Woman Wrote It)

Lauren Camera reports for U.S. News & World Report on research drawn from GitHub, an open source software community with millions of users who collaborate to solve coding problems. It seems to indicate that women’s coding recommendations are accepted at a higher rate than those of men, but it helps if no one knows they are women. The difference in acceptance rate is only four percent in favor of women, which is not indicative of ...

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