legendary entrepreneur quotes

15 legendary entrepreneur quotes that will inspire any business pro

Featuring Emily Clark, Guest Contributor

Every entrepreneur’s success, big or small, begins with a brilliant idea. If worries or anxieties held back the world’s top business people, we would have missed out on incredible things like the personal computer, Facebook, the iPhone and even Harry Potter.

If fear of failure has ever held you back from running your own small business, don’t worry – you’re not alone. 40% of entrepreneurs share that sentiment, and it can roadblock from taking on new challenges in their professional lives.

We hear time and again how many top entrepreneurs succeeded only after failing – often over and over on multiple projects. Remember that failure is the first step towards success. Instead of being intimidated, you can use that feeling as personal motivation. The key for these top entrepreneurs was to keep their nerves strong throughout the hard times, be calm and battle through.

When you’re in a tense situation and fear is staring you down, it’s worth imitating the pros who have walked a mile before you. Take the famous example of Steve Jobs, who converted his failures into a rebirth of Apple, launching the iPod to become the most successful and arguably adored person in the tech world.

In the following infographic, “45 Legendary quotes from successful entrepreneurs” brought to you by Total Processing, see how notable entrepreneurs like Jobs, Bezos, Huffington and Beyoncé have viewed their golden journeys and stared down this fear of failure. These legends are experts in their fields, and their inspirational quotes will surely provide motivation to take on any fear and define your own legacy.

Legendary entrepreneur quotes


Up Next: Get the “Podcast Hit List” for successful business owners and entrepreneurs.

cash flow budget

7 steps to create your cash flow budget

cash flow budget

Every company is obsessed with cash. To stay afloat, companies need to ensure they have enough money available to fulfill their obligations such as paying salaries, vendors, suppliers, loans and investing back in the business.

As explained in part one, a cash flow budget shows you exactly how much cash is coming in and how much is exiting the business accounts.

Here are the steps to prepare your own cash flow budget:

1. Find the right tool

cash flow budget - Microsoft Excel

If you want to roll up your sleeves, you may already use a budgeting tool or software that can help you prepare your cash flow forecast. If not, a straightforward starting point is Excel’s cash flow template. If you have an accountant or bookkeeper, they will have likely already prepared a cash flow statement in the past and have a format recommendation that follows your previous financial reporting.

2. Set a time frame

Often, cash flow budgets will be prepared for six months or a full year in advance. Depending on whether you’re preparing this statement for yourself or for the purpose of securing financing, set your time frame and get ready to gather all the required information for that period.

Many businesses forecast on monthly timeframes, but some may need to know cash flow on a more regular cadence — weekly or bi-weekly.

3. Prepare a sales forecast

How much revenue do you expect to bring in during each month? You may base this on past months, years or projected sales forecasts. Then map out the expected sales forecast for each month of the year. Remember there will be fluctuations based on actual sales and changes in the market, as well as new customers added to your client list.

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4. Project cash inflows

This is your “cash in” that includes all forecasted sales — both cash sales and those for customers who pay on credit.

Also consider the terms of collection you offer customers, as your cash inflows will come after the actual date of sales. For example, if you sell $10,000 on January 15 with a 30-day term, then you should project $10,000 in your February inflow. However, if your clients typically pay late, you may want to be conservative and project that inflow in March.

5. Project cash outflows

This is your “cash out” and includes your fixed expenses based on scheduled payment dates as well as any variable expenses. Don’t forget to expect projected expenses such as plans for new equipment purchases or hiring additional staff. Ensure these are allocated in the right month, which may depend on payment terms and when you actually expect to make the payment.

Some main cash outflows might include:

  • Purchases
  • Payroll
  • Office supplies
  • Building repairs & equipment maintenance
  • Advertising & marketing
  • Rent & utilities
  • Insurance
  • Loan payments
  • Capital purchases
  • Any owner withdrawals

6. Calculate the ending cash balance

cash flow budget

Here’s where the calculations happen. If you’re using software like Excel, create a formula to add up all your cash inflows for each month and then your cash outflows for each month. The difference will show your monthly cash balance — which is your cash on hand.

Your cash on hand should also include the amount in your bank account, petty cash and any other cash accounts you might have. Positive numbers are your friends.

7. Set a minimum cash flow balance

How much cash will you need on hand every month? You’ll need a minimum starting point to cover all expenses and ensure you aren’t left in a cash flow deficit.

Review your forecast to check if any month throughout the year is projected below this minimum. If that’s the case, now is the time to take action and find a way to raise capital.


If your cash flow budget reveals that your business might fall short in the coming months, feel free to reach out and we’ll be happy to discuss ways to avoid any cash flow issues in the future.

Recent Fundings – November 2018