Top 5 Finance Tools for Online Blogs & Business

Every good entrepreneur needs tools that they can access at any given point to determine their financial status and goals. I’ve gone and listed a few that I use below, hopefully these can help you as well. If you’re a blogger looking to make the jump from part time side job blogging to a full time blogger these will certainly be something you should take a look at.

1) Break Even Analysis – this helpful little tool will provide you with the needed jump for joy euphoria or the dismal feeling of despair depending on how you figure out your finances. It will however make you keenly aware of your status money wise and help you figure out how much you’ll need to make before you start turning a profit. If you are seriously considering a new job or business this should be on of the first tools you utilize in your research of the potential of the new business venture.

2) Gross Profit Margin Ratio Calculator – Gross profit minus cost of goods sold divided by net sales will give you the base Gross Profit Margin. This tool is useful for those that are selling actual products that take time and money to make. This could apply to anything from home made crafts to barn auctions for money. If you are going to start selling any type of product you need to know how much its going to cost you to make before you can start worrying about how much to sell it for. This tool will give you an outlook on what margins you might be after.

3) Starting Cost Analyzer – Every business, whether online or in the real world needs to figure out all the starting costs before they actually start doing any type of setup or business. This is paramount to a good successful business. If you are trying to start a new business (even a blog) you should use this tool to figure out what you will need to get it off the ground. This is also a good tool to use for predicting what you might need to make monthly before you’re new venture starts turning some profits.

4) Pay Per Click Advertising ROI – This nifty tool will help you analyze your expenditures on pay per click advertising. This method is a decent investment for new online ventures to get the product or business name out in the general public and get some traffic built up.

5) Home Budget Analysis – Every entrepreneur needs to have a good sense of money and how it if being budgeted. This goes for the home budget as well. If you are a webmaster or home blogger this is essentially a business analysis as well, although I would highly suggest keeping the two separated. Use this tool to help get your budgets under control and working for you.