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same great team with a fresh new look!
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We appreciate all of the support our clients and partners have given us through the year. To show our appreciation, we would love to have you swing by our office and have a drink with us.
There will be refreshments and snacks provided.
Feel free to pass this invitation along to your co-workers or friends, and if you have a +1 who is looking for some CFO or back office support, bring them along as well! 🙂
Who: Friends, Clients, Partners & Prospective clients
Time: Friday April 24th, 2015 from 5pm to 7:30pm
Where: 81 Langton Street, Suite 4, San Francisco, CA, 94103
Hello World!
We are excited to have launched our blog! With any story there must be a beginning and with any blog there must be a first post. With that in mind we thought we would cover the basics.
Who is Foresight ASG?
Foresight Advisory Service Grou
p (ASG) is a team of finance and operational professionals who love working with startups and early growth businesses. We consist of accountants, payroll specialists, financial analysts, and much more. Our mission is to handle the finance and operational logistics of early stage businesses so that our clients can focus on growing their business. We are located in San Francisco but use cloud based solutions so that we can engage with clients throughout the United States.
The Bloggers/Team:
In alphabetical order as everyone is of equal importance!
Dan Blahut
From: Kansas City, MO
Professional Interests: New and Innovative Business Models, Financial Modeling, Founder/ Executive Education, Board Advisory, Corporate Strategy.
Hobbies: Snowboarding, Running, and Travel.
Fun Fact(s): I’ve spent several years volunteering for the Boy’s and Girls club of SF (extremely rewarding experience!) My wife and I have one very well behaved dog and two mischievous cats, we also love checking out new restaurants and hitting up our neighborhood (Dog Patch) parks on the weekends.
Kelvin Chun
From: San Francisco, CA
Professional Interests: Equity investment, corporate acquisition accounting
Hobbies: Hiking, Camping
Fun Fact(s): Kelvin is a certified First Aid & CPR/AED instructor
Noah Hopton
From: Mill Valley, California
Professional Interests: Cloudbased Scalable Solutions, Inventory Management, Financial Modeling, and any new software/product in the back office space.
Hobbies: Ultimate Frisbee, Soccer, Bike Riding,
Fun Fact(s): Noah is an Eagle Scout and has a 1964 Chevy Malibu SS
Randy Macaraeg
Professional Interests: Accounting, Financial Modeling, Startup Businesses
Hobbies: Biking, Snowboarding, Running, Computer Gaming
Fun Fact(s): Randy can solve a 3×3 Rubik’s cube in under a minute!
From: Mexico/ Richmond CA
Professional Interests: Payroll, HR and Accounting
Hobbies: Quality time with my son, play time with my dogs, working out and salsa dancing
Fun Fact(s): In one year I ran 1marathon (26.2 miles) , 3-1/2 marathons (13.1 miles) 11-10K’s (6.2miles) and 4-3K’s (3.1 miles)… thats 146.1 miles in one year!
Eugene Soltan
From: Republic of Moldova
Professional Interests: Help startups with their financial needs, Financial Modeling, become a CFA charter holder
Hobbies: Hiking, Traveling, Kite Surfing, Reading
Fun Fact(s): Eugene lived in 5 different countries, and is a proud member of Delta Sigma Pi Business Professional Fraternity.
Why are we blogging?
Our goal is to help the growing startup community by sharing our knowledge and expertise. Everyday we encounter new products, teach founders about compliance issues, or help them better understand their cash flow and finances. We want to share our knowledge and know-how with the greater startup community.
What will we be blogging about?
Our blog will cover a range of topics from picking the correct entity type for your company to positioning yourself in the best way to successfully raise capital. Here are just a few examples of what will be coming:
Questions/Topics?
We always look forward to suggestions so feel free to shoot us a topic you are interested in at blog@foresightasg.com or comment on a post if you have questions. Of course, softwares get updated and laws change so even though all of our posts are supposed to be informational please consult your legal advisor before making any big decision.
If you want to stay updated on when posts are coming out feel free to follow us at on twitter @foresightasg or like us on Facebook at http://goo.gl/By8Qg6.
Thanks for reading!
-Noah Hopton
Raising sufficient capital is one of the main barriers to starting a new business. Some businesses are able to launch with little or no funding but most need some type of loan in order to get started. For instance, a service provider can possibly start operations with minimal capital but a brick and mortar retail establishment will need to pay for the storefront, equipment and the initial inventory.
Preparation is key
When you go out to ask for funding, anticipate some pointed questions. Investors and lenders will want to know you are serious about your business concept and have a solid strategy in place. You’ll likely be asked about future revenue, the collateral you can provide and your own personal business and borrowing background. Well-kept accounting records can be a big advantage when having these conversations since you’ll easily be able to chart and forecast costs and revenue.
Understand the agreement
It’s very important to thoroughly read the terms and conditions before accepting any loan. Some lenders include the stipulation that they can call in the balance of a loan at anytime. This is rare and normally reserved for risky borrowers. Still, it is always a good idea to know what you are getting yourself into before indebting yourself to a lender.
Interest or equity?
In addition to understanding the terms of the loan, you’ll also need to consider the cost of investment. Investors and lenders don’t provide funding without expecting something in return. You’ll likely need to pay interest or give equity in your company. Borrowing creates an obligation, so consider which commitment will be easiest for you to manage.
Securing funding may seem daunting but it can make launching a business much easier. Once the money is in the bank, you are free to focus on nurturing your idea into a successful business.
Read to the Xero Small Business Guide “How to Raise Money for Your Business: Part I” to learn more about securing funding for your company.
As your small business grows, you’ll need to hire new employees to assist with the increased workload. If you want to sustain your success and continue to grow, it’s crucial that you find the right people to join your business.
Planning is key
Before you start posting job descriptions and scheduling interviews, take the time to form a long-term hiring strategy. Start by making a lists of the priorities that need to be addressed right away. This will give you an idea of what roles you need to hire for and which ones should take precedence. Also, take a close look at your budget and carefully consider how much you can afford to pay your new staff. You may find that it makes more sense to hire a part-time employee or a person with a flexible skillset that can take on multiple roles.
Explain your culture
You’ll also want to consider your company culture when expanding your staff. As the owner of the business, it’s up to you to define the culture and promote it throughout the company. If you haven’t yet thought about it, get input from your current employees and customers or even emulate the culture of companies you admire. If you feel that your culture is where you want it to be, make sure it comes across in your job description and to work it into interview questions so you can find the candidate with the right personalities.
Advertise far and wide
When it comes time to advertise the role, you’ll find that there are lots of ways to get the word out. Job listing websites and recruitment agencies likely come to mind right away but there are lots of other methods to attract job applicants. A career page on your website is an excellent recruitment tool and can be advertised on social networks and email signatures. You can also take your search to LinkedIn, where you can find an entire social network of professionals within your industry and geographic location.
Make a short list
After the interview stage concludes, narrow all the candidates down to a short list. At this point, you’ll want to compare everyone’s experience, qualification and background and eventually select an applicant to make an offer to. This may sound daunting but there is a good chance that you’ll intuitively know which candidate is best by the time you get to this point.
Read the Xero Small Business Guide “How to Hire the Right Employees” to learn more about successfully growing your staff.