University of La Verne SBDC Small Biz Blog

Binary Exercise and Sports Training Los Angeles, Ca https://www.beastathletics.org/  Follow on  Instagram Arthur Romero is the founder of Binary Exercise and Sports Training (BEAST), a non-profit organization that trains local kids in the San Gabriel Valley. Arthur recognized a lack of coaches who genuinely care about the kids and community. “One of the reasons I started BEAST is to bring people together and offer opportunities to the youth as far as sports training, sports development, and just being able to succeed in their respective sport overall. Because everything in sports translates to life,” Arthur explained. “I had actually developed the idea for BEAST early on when I started as a freshman at the University of La Verne. I was really all over the place as far as what I wanted to do with it and how to take it to the next level,” Arthur said. By chance, Arthur introduced himself to University President Devorah Leiberman while walking on campus and asked for any resourc...

  Financial projection are the most intimidating part of starting a business. So much so, that many people want to know how much it's going to take to start up. Many people just skip this step until they actually need it. In this webinar, you will learn: Determine the feasibility of your business idea Calculate the break-even sales volume Prepare financial projections often needed for an SBA loan Download the Google sheet and follow along  here.   You can view only. [ File > Download > Make a Copy ] so that you can create your own spreadsheet for you to keep and update. Start Up Financial projection can be use this to answer a lot of common startup questions like… Will my business idea work? Is my business feasible? How much should I pay myself? How much do I need to sell to be profitable? How much do I need to start the business? Common Start Up Expenses Existing Businesses You can also use this with clients seeking a loan because even if you’ve been in busine...

By Joshua Botello If you are looking to take content like a blog, youtube channel, or a news company to the next level and turn it into a full-fledged business, there are some specific things you need to take care of. Many content creators start as a hobby but have no idea what it takes to turn their passion into a legitimate business. In this start-up guide, I will show the 5 steps to get your media business started and what you need to know to operate as a legitimate business. So let’s get started. Business Concept The very first step is to come up with a business concept. Many of you watching will already have this down if you have an existing blog or youtube channel. Beyond your concept, you may need to research if this is a sustainable topic that will last or if it’s just a fad. You also want to make sure the content you create is fresh and not being talked about in a saturated space that will increase your competition and make it harder for you to make money once you monetize you...

By Joshua Botello Are you worried you’re running out of cash for your business? Do you find your business doesn’t have money to pay your bills or do you run short on cash for payroll? In this video, I’m gonna show you how to create a cash flow statement to better manage how your business is spending money. Keeping track of finances is hard for many small business owners and many of our clients get overwhelmed for fear of messing up their accounting. What if you could have a simple document that was generated automatically to show the flow of cash into, and out of, the business and know if you could meet your business obligations? In this video, I’ll explain what a cash flow statement is, the components of a cash flow statement, and how to use it for your business.    What is a Cash Flow Statement The statement of cash flows is the last of our 3 basic financial statements the business owner can use to track their business finances. The cash flow statement is used to perfor...

Hiring it out or doing it yourself? There are pros and cons to both and it really boils down to the 3 T’s: Time, Talent, and Treasure. These are more important to you given the situation and the likelihood of success in what you’re trying to accomplish. Time Well, we all know that time is precious! Whether it's my kids asking me desperately for 5 more mins to play their games with their friends before dinner or the business owners I know who pay executive coaches to help them regain an hour of their day by using time management techniques.  I’d say you have to ask yourself, “How much time would it take you to do it yourself versus hiring it out”. If what you’re trying to do time sensitive, or needs to be completed by a certain deadline you need to be real with yourself about your available time to get it done. Like Franklin Covey’s 4 quadrants - is this something that is urgent and important? For example, taxes. Maybe you need to file an extension and you don’t know how to do that,...