EXS Finance Solutions LLC

05/08/2025

05/01/2025

When seeking financial advice, it’s always best to consult a professional. Doing so can allow you to get the information that best fits your business’ situation and needs. These tips can help to highlight some of the steps you may want to consider as you begin to build your business.

1) Separate personal finance from business finance
Even if you’re starting your small business as a side gig with a shoestring budget, keep records of your finances.

2) Set up your business books to keep track of income and expenses. At EXS Finance Solutions we help small business owners that are unfamiliar with the process. We can advise you on requirements and best practices so you can determine if you’re making optimal use of your finances.

Using a business checking account instead of a personal account can also help to keep finances separate.

3) Create a breakeven analysis
Figure out how you’ll make a profit by creating a breakeven analysis. This tool lists all your business expenses, letting you figure out how many customers you need before you break even.

Along with good cash flow management, a breakeven analysis can be a road map to set your benchmarks for success.

4) Setting up a business entity such as a corporation or a limited liability company offers important potential advantages. Consult with us to learn more about the pros and cons of incorporating.

5) Lower expenses by adjusting your physical space
The lower your expenses, the higher your profit margin. If you don’t need a physical location, such as a storefront, consider running your business virtually.

With so many online tools available – for everything from storing your files to connecting with clients – you may be able to save money by investing in technology and forgetting those monthly rent payments.

6) Avoid penalties by registering your business fully.
Do research to help you obtain the required business registrations, licenses, and permits in your state and municipality.

Requirements vary by where your business is located and the type of company you own. Your local Small Business Development Center can provide guidance on those that apply to your venture.

7) Learn more about whether you are eligible for and any potential benefits of an Employee Identification Number (EIN)
Visit the Internal Revenue Service (IRS) online to learn more about whether you are eligible for an EIN and how to apply for an EIN through the website of the IRS.

04/29/2025

One key success factor for small business owners looking to scale is adding new revenue streams for their business. The BBB provides some tips on ways to increase sales by offering some additional services for your customers. These approaches can help your organization remain resilient and successful—even in challenging times.

At EXS Finance Solutions, we partner with business owners to develop some of these strategies.

Having multiple revenue streams is crucial for the long-term success of any small business. These five ideas can help your business increase your bottom line and overall sustainability.

04/15/2025

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