Your Savior is Organization

Spring cleaning is in the air and it is past time to get our finances in order. Although this may not be the most exciting way to spend your Saturday, organizing our finances is a key ingredient to success. A couple of years ago in 2007 I was apprenticing under a highly successful real-estate investor. I would research communities that he was considering investing in, and select potential rental properties for him to review. I also helped organize his financial books. I was amazed at this highly successful investor, with over 20 properties scattered across the United States, had no organization in place at all! Although these properties fell under his corporation, the monies from the properties went into his personal bank account and company bank account. Some of his personal money went into his company’s bank account. The next year when the housing market really took a swan dive, he lost it all. I wonder sometimes if he might have been better off with a better system of organization. 3 things that might help your organization skills:

1. Separation of money in specific accounts. If you have investments, income from a job, and your business, they should each have their own account. How else will you keep track of everything if you don’t separate your different types of cash.

2. Audit yourself. You should be auditing yourself at least once a quarter (more often is preferred). I like to audit myself twice a month. Figure out where your cash is going and keep your receipts filed in a way that they are easy to find. For instance, gas receipts can go into your travel expenses file. Office supply receipts can go into your office expenses file.

3. Find a central location. I’m sure we’ve all had a parent that tried to teach us “everything has its place”. In the world of business that has never been truer. Make sure you have a place in your home, office, car, or wherever you do business where all of your expenses, receipts, records and legal documents are filed in such a way that is easily accessible for you.

Does anyone else have great organizational pearls of wisdom? Let us know. To your success!

-The Bootstrap Investor

Clarity: The word of the day

Starting a business is both stressful and exciting. On the one hand you have all of these to-do lists that don’t seem to shrink. The laundry list of things to do just seem to get longer and longer…(I’m getting tired just thinking about how ridiculously long our to-do lists can become). On the other hand, your business is exciting because it’s yours and you are the one in control of your own destiny. Which, by the way, is very rewarding today since so many people find themselves let go from their safe, secure 9 to 5 jobs. If you’re sure you want to start your own business you have to be clear of what you want. What are your goals? What do you like to do the most? Will this decision better your quality of life and that of your family’s in the long run? Get clear on what you want out of life! Once you have your goals and aspirations write them down on paper and focus on those goals. I guarantee once you’ve honed in on your top goals, those laundry lists start to shrink as you focus on what’s really important. I’d love to hear your comments. Wishing you success in all that you do!

-The Bootstrap Investor

Welcome!

I started Bootstrap Investor because I was looking for a way to start a tutoring business. I realized during my research, that starting a business would be a lot easier if I just had ONE place to look! What started as an idea of owning my own tutoring business morphed into this website dedicated to helping others achieve success in business. The sole mission of this website is to make it easier on start-ups and small businesses to find the boost that they need to jumpstart their business. This is a secure website for the business community to share ideas, network, and find ways to attract investors. I hope this website offers what you need. And if it doesn’t, please let us know. We constantly update our content to better serve you. Wishing you success from the ground up!

-The Bootstrap Investor