Behind the success story of various lean startups, there will be financial intelligence. It is the key for a successful startup. A perfect blend of startup ingredients ,an innovative idea, first need, industry knowledge and enough knowledge to take first step creates good entrepreneurs. In short, we can say, a good entrepreneur must have the typical combination of all the marketing and practically required skills.



If the entrepreneur is obsessed with his/her idea, he/she will make the startup in no time. At such situations, entrepreneurs hardly realizes any loophole or missing link. But, he/she will soon confront with the finance management need as he/she dive in the operations and deals with the fund need. The finance intelligence is the missing link here. It is then the entrepreneur thinks about how to get the fund, how to get the startup funded, where to pitch the investors, how to expand business or else go for cost cutting, hy banks are not allowing personal loan etc.



Here are some valuable finance tips that will take your startup to success:



1. Make your knowledge “Financially Profitable”, before thinking of profit. You should understand that no startup can make profit from the day one. However, the financial richness can prepare the launchpad for the profitable journey. You have to gather the information related to the finance of your business and start making projections accordingly. You can set target and divide them into parts to meet by doing this. Browse internet, read books, talk to seniors and mentors. All these have to be made your habit and part of your routine life.



2. You should be aware of the basic finance terms, assets, liabilities and cash flow. Try to prepare your own finance library and dictionary of your startup and also try to understand and define Assets and liability in your own business language. Always remember that cash flow is the most important in the whole financial learning, especially when you have limited fund and yet to manage daily company expenses. Even if all the systems destroys your confidence, you will feel yourself able to do everything if you have financial knowledge. Learning to acquire assets is the key behind being a successful entrepreneur.



3. You should search for the best Attorney and Chartered Accountant. You have to spend money if you want to earn money. Hire the best chartered accountant. They will ask you money only when they help you earn money. They will also make all the necessary arrangements for the company’s legalities, formalities, valuations and most importantly arrangement of investors for your startup. A chartered accountant is the person who can actually make your startup funded after you.



4. Manage your books of accounts and understanding of taxation. The most hard and irritating words to be understood by a person from different field are taxation, tax, and accounts. Ignoring these words will take you to the unrecoverable value of loss. So it is very important to consider and learn the practical application in respect of your startup. You may earn profit or vault into losses in the game of taxation.



5. Try to gather all the fund related information and act accordingly. You will come to realize the need of fund management once you make a startup. The banks policies related to startup financing is one of the common problem an entrepreneur faces. Make yourself full of knowledge related to bank policies so that you can approach bank with full preparation and maximum chances of getting financed.

