Greek philosopher quotes are short, sourced lines from Socrates, Plato, Aristotle, Heraclitus, Diogenes, Epicurus, Epictetus and other thinkers of ancient Greece on wisdom, character, and how...
A letter of intent to buy a business is a short document that records the main terms of a proposed deal before you spend serious time...
A business emergency fund is cash you keep in a separate account to cover your essential operating costs when revenue drops or a surprise bill lands,...
Gross margin vs net margin is the difference between two cuts of the same income statement. Gross margin is gross profit divided by revenue, and gross...
The startup costs deduction, under Internal Revenue Code section 195, lets a business deduct some of the money it spent investigating or creating an active trade...
Venture debt is a loan designed for venture-backed startups. It has to be repaid, and unlike a SAFE or a convertible note, it usually does not...
Professional liability (E&O) insurance, also called errors and omissions insurance, is coverage for claims that your professional advice, work or services caused a client a financial...
A term sheet is a short, mostly nonbinding outline of a priced investment. The lead investor uses it to put valuation, the size of the check,...
The Profit First method is a cash-management system created by Mike Michalowicz in his book Profit First. It flips the usual formula. Instead of Sales minus...
Pro forma financial statements are a projected income statement (P&L), balance sheet and cash flow statement, built from explicit assumptions about a period that has not...
