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Ask the Entrepreneurs: 12 Ways to Shore Up Your Company Finances

Ask the Entrepreneurs: 12 Ways to Shore Up Your Company Finances

Ask The Entrepreneurs is a regular series where members of those involved in the Young Entrepreneur Council are asked a single question that aims to help Lifehack readers level up their own lives, whether in a area of management, communication, business or life in general. Here’s the question posed in this edition of Ask The Entrepreneurs:

What is one financial resolution that all aspiring entrepreneurs should make for themselves in 2013?

1. Track Your Monthly Income and Expenses

Nathalie Lussier

    This might seem a little too basic, but if you’re not doing at least some bookkeeping on a regular basis, you don’t have your pulse on your business’ numbers. Being able to look at how much money came in and went out in one month is crucial to any startup or aspiring entrepreneur. Even if you’re not bringing much in, you need to know that.

    Nathalie Lussier, The Website Checkup Tool

    2. Increase Your Rate of Savings

    Lawrence Watkins

      Becoming an entrepreneur can be a scary proposition, and one factor that keeps many people from making that leap is finances. If you’re living paycheck to paycheck, then it can be hard to make those tough decisions that may be rough in the short term, but very beneficial in the long term. Once you answer how you’re going to eat and where your’e going to live, you can then focus on your business.

      Lawrence Watkins, Great Black Speakers

      3. Can You Really Live on Ramen?

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      Erik Severinghaus

        It’s easy to assume that if you quit the high-paying day job, your expenses will decline in tandem with your income. In reality, that’s a lot harder after you’re used to nicer meals, vacation travel, etc.

        Before you quit your job, figure out what you can really live on for two months and test your ability to stick to that budget. It’s a great way to see if you’ll be happy living on ramen noodles.

        Erik Severinghaus, SimpleRelevance

        4. Take an Accounting Class

        Thursday-Bram

          Even if you never have to do any accounting work at any company you ever start, understanding the basics of accounting will be very useful. Just being able to read accounting reports may save your bacon if there’s a potential issue in your company that your accounting software or a human accountant haven’t managed to pick up on.

          Thursday Bram, Hyper Modern Consulting

          5. Create a Personal Budget

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          Derek Flanzraich

            Sometimes, amidst all the startup craziness, entrepreneurs forget to plan and organize their own finances at all. Then, all of a sudden, you’ve ordered expensive sushi delivery for dinner every night and the numbers keep stacking up. Take some time over the holidays to plan out your own budget.

            Derek Flanzraich, Greatist

            6. Join the Peer Economy

            Eric Koester

              The Peer Economy, companies that help you buy, sell, or transact with your peers (think eBay, Etsy, Airbnb, Getaround, Taskrabbit, Zaarly, Odesk or dozens others), is a great way to make money or save money. So participate—either by renting your couch out or staying in an Airbnb place when you travel; finding a developer or selling your services on Elance; or more. But just participate.

              Eric Koester, Zaarly

              7. Give Yourself Permission to Fail

              Dave Ursillo

                Every aspiring entrepreneur should give themselves permission to fail in 2013 because the greatest obstacle that every entrepreneur must (and always will) encounter is fear; especially fear of uncertainty and the unknown. When you give yourself permission to fail—financially or otherwise—you really give yourself permission to try in the first place.

                Dave Ursillo, The Literati Writers

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                8. Pay Down Debt

                Elizabeth Saunders

                  If you have personal debt, try to dramatically reduce or ideally eliminate it prior to starting your business. Having lower recurring expenses will give you more freedom to take risks as you build your company.

                  Elizabeth Saunders, Real Life E®

                  9. Real-Time Visibility

                  Robert J. Moore

                    Establish a system to access financial data about your company’s performance on demand and in as close to real-time as possible. This will allow you to feel highly in tune with business growth and tackle challenges as early on as possible.

                    Robert J. Moore, RJMetrics

                    10. Launch Their Company

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                    Aron Schoenfeld

                      Too many people network, brainstorm and whiteboard continuously and just keep adding ideas and layers to their concept. Aspiring entrepreneurs need to draw a line and say “this is our MVP and now we will build it.” Sitting on an idea does not help you or make you any money but building your idea into a product or business will help you validate it and test the marketplace.

                      Aron Schoenfeld, Do It In Person LLC

                      11. Find Great Clients

                      John-Hall

                        Improve profit through better clients. Having great clients really does matter with overall happiness of a company. Make an effort to improve profits by taking on the right clients, not just more clients.

                        John Hall, Digital Talent Agents

                        12. Keep More of the Money You Make

                        Brian Moran

                          Keep more of the money you make! Strive to make sure that your costs are under control, make customers happier, and focus on stimulating repeat purchases from new customers. That doesn’t mean becoming a penny-pincher, but if you have costs that aren’t advancing your bottom line, cut them out! A business is only as strong as the money it keeps at the end of the year.

                          – Brian Moran, Get 10,000 Fans

                          More by this author

                          9 No-Brainer Ways to Track Employee Time Ask the Entrepreneurs: 12 Things Entrepreneurs Should Stop Doing Ask the Entrepreneurs: 9 Best Note Taking Tools Ask the Entrepreneurs: 12 Tips for Mastering Public Speaking Ask the Entrepreneurs: 9 Tasks You Should be Outsourcing

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                          Last Updated on April 19, 2021

                          40 Healthy And Really Delicious Meals You Can Make Under $5

                          40 Healthy And Really Delicious Meals You Can Make Under $5

                          Ever had those moments where you really wanted to eat something delicious and healthy but didn’t have the financials means to do so? Whether you’re a student or parent, this compilation of 40 great, healthy, and inexpensive recipes will make every night special and help you get fit! No more meals where you have to force the food down! It’s time to make that budget your best friend and turn it into great recipes. Enjoy!

                          1. Fish Tacos in Crunchy Shells ($3.56 per serving)

                          Is there a better way to end the day than a Fish Taco dinner filled with protein and nutrients and is easy on the wallet? This recipe calls for a boys’ or girls’ night in front of a good movie or game.

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                            2. Mini-Meatball Noodle Soup ($3.43 per serving)

                            We’ve heard of the delicious spaghetti and meatballs recipes, but imagine having that same meatball goodness in a soup? It’s like Christmas in a bowl. Healthy, warm, and only $3.43 per serving.

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                              3. Spaghetti and (Vegan) Meatballs ($2.13 per serving)

                              Now it’s time to look at the traditional spaghetti and meatballs recipe, but with a little twist: vegan meatballs. This way, you can enjoy the Italian tradition without adding on the extra calories. I’m sold!

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                                4. Kabocha Squash and Lentils ($3.12 per serving)

                                Absolutely delicious way to end the day with a Kabocha Squash and lentils dinner. The beauty of this recipe is that you can actually make many other things from the mixture, from dips to full-on meals. All under $5 per serving.

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                                  5. Baked Coconut Lentils ($0.91 per serving)

                                  Coconuts are always a good idea, but it doesn’t have to be eaten only for dessert or breakfast. With this great recipe, you can now eat a lunch or dinner filled proteins and a coconut twist. Yum!

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                                    6. Easy Marinated Roasted Chicken ($3.40 per serving)

                                    We love chicken and at less than $5 per serving, we are in heaven with this recipe. Add some vegetables and rice on the side and you’ve got yourself a full meal!

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                                      7. Organic Greens and Goat Cheese Gratin ($2.36 per serving)

                                      This is absolutely divine. You get in your healthy greens and your fat macros with this great recipe. Takes only a few minutes to make and it’s easy on the wallet. Bon Appetite!

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                                        8. Beef Pot Roast ($3.22 per serving)

                                        One word: perfect. This meal will warm your insides and fill you up with the high protein content.

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                                          9. Fajita-Style Quesadillas ($0.43 per serving)

                                          If you want to eat Mexican tonight but want to stay in your budget, this Quesadilla recipe is your best friend. It’s tasty and filled with healthy ingredients for less than a dollar per serving.

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                                            10. Fish Tostadas with Chili Lime Cream ($2.82 per serving)

                                            Another great lunch idea for the busy days ahead. Prep this in the morning or the night before and you’ve got yourself a healthy and cheap lunch meal!

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                                              11. Beef and Black Bean Chili ($1.36 per serving)

                                              Might not look like much, but this amazing chili is actually extremely healthy for you. The protein from the beef and the carbs from the black beans will fill you up in no time, and keep you full for a long period of time. Delicious and warm, just right for the winter!

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                                                12. Crispy Fish and Peppers ($2.18 per serving)

                                                Amazing recipe for anyone looking to change up their meals while keeping their macros in check and not going overboard on spending. Satisfies your crunch tooth (see what I did there?) and gives you all the protein you need to stay full and lean.

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                                                  13. Vegetarian Gumbo ($1.50 per serving)

                                                  You have the perfect macro mix here with the carbs, fats, and proteins. At less than $5 per serving, you’ve got yourself a meal that will last for the whole week!

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                                                    14. Mexican White Bean Soup ($0.99 per serving)

                                                    With the cold weather creeping in, it’s not a surprise that soups are coming back in style. This great Mexican White Bean Soup dish will keep you warm for winter without making a hole in your pocket.

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                                                      15. Black Beans with Mango & Cilantro ($0.38 per serving)

                                                      Mangoes make every dish a little bit sweeter, which is why we absolutely love this recipe. A normal rice and bean dish might be a little meh, but add the sugary taste of mangoes and you’ve got yourself a party!

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                                                      Black-Bean-Cilantro-Mango

                                                        16. Bean Burritos ($0.71 per serving)

                                                        If you’re having people over tonight and don’t want to spend too much time or money on food, this dish is a great option! You can even cut up the burritos into pieces and make finger foods while everyone’s watching the game or gossiping.

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                                                          17. Five-Spice Beef Kabobs ($2.43 per serving)

                                                          The spices in this recipes add a delicious twist to the beef kabobs, which is definitely worth trying!

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                                                            18. Cornmeal Crusted Pork ($1.92 per serving)

                                                            If you like the fried crunch but want to opt for a healthier alternative, cornmeal is your man. This healthy recipe will satisfy all your fried desires without making you pop open your pant’s button.

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                                                              19. Chicken, Tomato & Cucumber Dinner Salad ($2.57 per serving)

                                                              Easy to do, extremely healthy, and super delicious. A must-try!

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                                                                20. Lentil Soup with Beef and Red Pepper ($1.90 per serving)

                                                                I can’t believe how cheap this meal is, especially for all the nutrients it contains. You can make a big pot on Sunday night and divide it into small portions to last you a whole week.

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                                                                  21. Smoky Mushroom Stroganoff ($1.90 per serving)

                                                                  Craving pasta but not sure what to top it off with? How about smoky mushrooms with a twist?

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                                                                    22. White Bean Tuna Salad ($1.36 per serving)

                                                                    You can add this White Bean Tuna Salad in your sandwich or just eat it as-is for a quick lunch on a busy day.

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                                                                      23. Sausage Eggwiches ($0.80 per serving)

                                                                      Who says you have to eat fast food to get an eggwich? This delicious recipe will give you an amazingly healthy eggwich for less than a dollar per portion. Can you say Breakfast?

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                                                                      Sausage-Eggwiches

                                                                        24. Baja-Cali Black Bean Salad ($1.17 per serving)

                                                                        Great snack to add to a movie-night with friends. You don’t have to use chemically-processed salsas anymore, you can now use this homemade salad for your chip dips.

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                                                                          25. Gnocchi, Sweet Corn & Arugula in Cream Sauce ($2.24 per serving)

                                                                          Italians always knew how to make carbs look good! This delicious Gnocchi recipe will give your lunch a whole new meaning. Easy to make and only $2.24 per serving.

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                                                                            26. Vegetable Lasagna ($1.73 per serving)

                                                                            If you were looking for a healthy lasagna, you’ve just found it. At under $5 per serving, you can fill yourself up right away without putting on the extra calories.

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                                                                              27. Fajita-Ranch Chicken Wraps ($2.05 per serving)

                                                                              Don’t know what to make for lunch this week? How about delicious chicken wraps with a healthy ranch? This recipe will make all your lunches, even the quick ones, healthy and colorful.

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                                                                                28. Quinoa with Pan Roasted Brussels Sprouts ($1.24 per serving)

                                                                                A dish that has quinoa and brussel sprouts can’t be unhealthy, it just can’t, which is why this dish is one to keep in the books. Easy to make, healthy, and will keep you full for a long period of time.

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                                                                                  29. Butternut Squash Chili ($1.04 per serving)

                                                                                  You don’t need meat to make chili now that you have this recipe! It’s 100% healthy, filling, and smells absolutely delicious.

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                                                                                    30. Fast Shrimp Bisque ($2.03 per serving)

                                                                                    Seafood doesn’t have to be expensive if you know how to do it right, and this fast shrimp bisque is a great recipe to try if you’re in the mood for some seafood!

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                                                                                      31. Chicken-Noodle Casserole ($0.98 per serving)

                                                                                      Looks divine doesn’t it? This super easy to make dish will satisfy all your taste buds without burning a hole in your wallet or adding a few extra numbers on the scale.

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                                                                                        32. Burrito Cups ($1.18 per serving)

                                                                                        Entertaining someone tonight and don’t know what to make as appetizers? These burrito cups are a great alternative to chips or other greasy finger foods. All you need to enjoy it is a spoon and a cup.

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                                                                                          33. Lemon-Dill Shrimp & Pasta ($2.45 per serving)

                                                                                          Another impressive shrimp recipe under $5 per serving. The lemon-dill twist adds a great taste to the dish.

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                                                                                            34. Potato Frittata ($0.87 per serving)

                                                                                            If you want to eat potatoes for breakfast but still want it to be healthy, this is the recipe for you. At under a dollar per serving, this potato frittata will make you see potatoes in a whole new light.

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                                                                                              35. Grilled Pork and Pineapple ($2.67 per serving)

                                                                                              Meat and fruits? Oh, yes. The juiciness of the pork mixed with the liquid sugar in the pineapple will make you wish you knew about it sooner.

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                                                                                                36. Greek Honey-Lemon Pork Chops ($2.15 per serving)

                                                                                                Another splendid recipe mixing sweet and salty for a healthy meal. Easy to make and absolutely mouthwatering.

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                                                                                                  37. Jamaican Pork Stir-Fry ($2 per serving)

                                                                                                  You can add this healthy stir-fry to any dish as a side or amply enjoy it as-is for lunch or dinner. You can even make a wrap sandwich out of it if you’re in a rush to eat.

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                                                                                                    38. Herbed Salmon ($2.49 per serving)

                                                                                                    Salmon contains a healthy dose of fats that will boost your metabolism, lower inflammation, and make you happier. At under $5 per serving, need I say more?

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                                                                                                      39. Five-Spice Pork Kabobs ($1.96 per serving)

                                                                                                      Exquisite recipe under $5 per serving that will most definitely awe everyone at your dinner party.

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                                                                                                        40. Stuffed Sweet Potatoes with Mango-Black Bean Salsa ($1.24 per serving)

                                                                                                        You don’t have to eat sweet potatoes alone anymore with this flavorful recipe.

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                                                                                                          Featured photo credit: Featured Photo Credit: 5 Dollar Dinners via 5dollardinners.com

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