10 ways to start 2016 on a positive note

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The recent Forbes report certainly shows that the bubble hasn’t popped yet.

That’s the easy conclusion of Forbes’ latest Hottest Start-ups list, which ranks Silicon Valley’s most successful companies in 2015 by one simple metric: the fastest growing valuations over time between funding rounds. That means their list captures the most in-demand start-ups, the ones for which investors had the highest hopes–and wrote the biggest checks.

Combined, the top 50 hottest start-ups raised over $7 billion this year and have a total valuation close to $120 billion.

Interestingly enough, Forbes took an end-of-year look at companies leading the way as valuations get extra frothy, ranking the Hottest Start-ups of 2014 by fastest growing valuation over time between funding rounds. These aren’t necessarily the most successful (or most hyped) start-ups — but they are the ones that investors are betting the biggest bucks on for the future.

The list is headlined by a who’s who of unicorns grabbing huge sums of cash. Ride-hailing juggernaut Uber (#16) is raising $2.1 billion to add to the $1 billion it raised in July. Workplace communication tool Slack (#2) raised $160 million, shared workplace landlord WeWork (#31) raised $433 million, and cyber-security start-up Tanium (#21) raised $120 million.

However, many start-ups at the top of the list are slightly off the beaten track. Secretive Uptake Technologies ranks first over all, coming out of nowhere to raise $45 million at a valuation of $1.1 billion. Uptake, run by former Groupon co-founder Brad Keywell, promises to provide the data analytics back end for the Internet of things revolution coming to major traditional industries like construction and aviation.

It is a fact that no business is guaranteed to succeed. But with the right level of energy, passion, determination to a belief in yourself and your product/service you can progress independently with your dream idea and business.

The beginning of the year has arrived and while it’s important to take some time to assess the positives and negatives of 2015, it is also worthwhile ensuring everything is ready for the year ahead so that 2016 does not start with unnecessary stress.

Many entrepreneurs are passionate about their chosen trade but aren’t always strong when it comes to the financial side of business.

It is the little things that people often forget about. Simple things, like cash flow and budget that can make all the difference.

The following 10 tips would make sure business owners cover all their bases and have a successful 2016.

1)      Budget for the year ahead

2)      Understand your business and its customers

3)      Analyse your monthly management accounts

4)      Keep your accounts and taxes up to date

5)      Secure your IP/IPR

6)      Know your limitations

7)      Invest in good legal and accountancy experts

8)      Build revenue streams with trusted relationships – no matter how small

9)      Invest in cash recovery experts

10)   Take a holiday and exercise every now and then

If you follow the tips you will see the benefits returned ten-fold.

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