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Why is it important to plan your finances?

As a Founder/CEO of your company, you are a duck, paddling like crazy underneath and trying to look calm up top, you set the vision for your company, and are constantly running around trying to bring your idea to market. You don’t often have time to sit down and think about your finances, but you know you need to raise capital, you know that you need a plan and you know that you should be planning out your corporate taxes ahead of time, but you don’t and that is where we at Orca come in.

 Financial Planning 

Lets start with the basics here, a financial plan is nothing more then getting a 360 degree view of all your finances, you can do this for your personal life or for your corporation. The benefits of doing this includes, reaching your goals/targets as well as getting the most out of your taxes and finally having an outlook that you can present to an investor as a company to attract more capital.

Imagine being the quarterback for your financial life. We will touch upon everything and bring your confusing unclear finances to clarity. We will start by looking at your cash flow, understanding what your burn rate is, valuating your goals and understanding your taxes. By doing this, we can start to create a clear picture of what your company’s finances look like. Then we create a “cheat” sheet that has all your finances on one page; now combine these with your goals and we can properly set targets for each one and achieve them. For, example did you know through some simple planning you can possibly save on social security tax and create more money for your company? These are just some of the strategies that can come out of this approach. Finally, as you approach new investors, imagine how much of a leg up you would have on the competition if you could present a one-page summary of your cash flow, or your burn rate? And how you plan on achieving your goals. With how stiff the competition is out there these days with raising money, you need to do whatever you can to get a leg up on the competition.

Another, crucial part about being a business owner is taking care of your employee’s. As you become bigger, you want to set up retirement plans; be it as a pension plan, a traditional 401K, or even some of the more elaborate defined contribution plans. Sound confusing? Don’t worry again that is what we are here to help you with. Our partners at 20/20 have specialized in managing as well as creating these planners for many business owners, stay tuned for individual educational articles on each of those plans on our website. The main point is as you grow, you want to retain employees and one of the best ways to do this is to show them that you are looking out for. Now, if you work with the right planner then you can have these strategies benefit you as a the owner as well.

So take the time to run your company and your life. Not to worry about stresses of finances, of explaining what new investments mean to for your employee’s, of rushing the night before to put together a financial plan to prove you are viable for an investor. We here at Orca have your back, and understand what it takes to be a start up, I mean we are one as well J

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