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Topic: Startup

Understanding What You Can't Do: How to Know When and What to Outsource

Jan 24, 2017 / by Jon Repka

This blog was contributed to Paro by Patrick Hechinger at Built In Chicago. Built In is a network that allows people to get connected to local startup communities in Austin, Chicago, Colorado, and Los Angeles.

The term “gig economy” is a terrifying phrase for older generations. After decades of valuing tenure and work stability, it’s hard to comprehend how employees and companies can operate with a revolving door of labor. Yet, to any millennial, this concept seems entirely natural, if not more efficient.

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Tags: Finance, Startup

Bolster Your Business Finances with a Financial Model!

Dec 14, 2016 / by Kody Myers

If you followed the advice of one of our earlier blog posts and built your own financial model, you’re probably wondering what to do with it. For starters, if you’re a startup or small business that’s experiencing high growth, you should be updating your financial model on a regular basis.  If your company is more established, you can probably get away with updating it quarterly, semiannually or even yearly. Give your financial model the love and attention it deserves, and here’s why:

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Tags: Finance, Startup

Bad Budgets Kill Startups: 4 Early Steps to Avoid Financial Failure

Oct 19, 2016 / by Michael Burdick

This blog was contributed to Paro by Patrick Hechinger at Built In Chicago. Built In is a network that allows people to get connected to local startup communities in Austin, Chicago, Colorado, and Los Angeles.

If you clicked on this article you’re one of two people: a fresh startup founder optimistically seeking advice or a less-recent startup founder who is realizing something has gone terribly wrong.

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Tags: Finance, Startup

4 Signs You Need to Outsource Your Accounting Department

Oct 14, 2016 / by Kaitlynn Sirotkin

When you’re the founder or CEO of a business, you are essentially the captain of the ship.  When you first leave the safety of the harbor and launch your business, it might feel like your boat is taking on water faster than you can bale it out.  As the captain, it’s up to you to decide what to do.  You can take a look at the necessary parts of your business and decide that you need help.  Or, you can keep sailing with business as usual and risk your ship sinking.  Here are some reasons you might want to outsource your accounting department to keep your ship afloat.

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5 Ways To Attract Your First Clients

One of the biggest challenges for a startup is getting those first customers who believe in your business. Most consumers aren’t comfortable being early adopters, that is customers who invest their time and money in something they’re unfamiliar with. So in order to attract more people to your business, here are some steps to take to make yourself more marketable.

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Tags: Startup

5 Questions To Ask Your Bookkeeper and Accountant

Sep 22, 2016 / by Dan Wywrot

While your company’s financials aren’t something to worry about every day (unlike customer growth, retention and money in the bank - oh my!), business owners should keep their key performance metrics (KPIs) visible in more places than just their CRM. To achieve this you need stellar accounting and to achieve that you need a stellar accountant. But how can a busy business owner know if their accountant is top notch or sub par? Ask these questions to gain some comfort about the ability and thoroughness of your financial statement preparer.

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Tags: Finance, Startup

Why Outsourcing Your Finance Department Is A Good Thing

Sep 14, 2016 / by Kaitlynn Sirotkin

When you’re first starting out, it’s difficult to afford the talent that will take your business to the next level. As a founder, you yourself have limited strengths making it impossible to execute on every part of your business. Because of this, it’s becoming more common for startups to outsource talent until you can bring that talent in-house.  By working with other experts, you will educate yourself on some best practices in areas that you might otherwise be clueless about.

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Tags: Startup

I'm a Business Owner, So Who Pays Me?

Sep 7, 2016 / by Dan Wywrot

So that “crazy little business idea” you had is starting to gain attention and you’re actually making revenue. That’s great! Now that your side project has become a full-time job, you need to determine how you’re going to pay yourself. There are several options available so choosing the best one for you and your business is critical.

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How Paro Helped RIPT Apparel Improve Its Cash Flow Management

Aug 30, 2016 / by Dan Wywrot

RIPT Apparel, headquartered and operating in Chicago, has grown its customer base and annual revenues to over $4 million selling limited edition and custom T-shirts for the past 7 years. The clothing features designs from hundreds of different artists with elements of pop-culture and nostalgia. RIPT prioritizes the treatment of its employees and positions its artists for success every single day, and the company was even recognized by being named in Inc. 500 in 2014.

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Tags: Finance, Startup

Pitch Perfect: How to Build a Pitch Deck

Jul 27, 2016 / by Kody Myers

What is a Pitch Deck?

Every business has a story; use your pitch deck to tell that story in a clear and compelling way.  Pitch decks should be a convincing presentation of the problem your company is solving, while also being highly engaging and entertaining.  These tips will help you build pitch decks to attract and maintain interest from investors.

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Tags: Startup