Financial runway is a measure of how many months can you go without earning any additional income before you run out of money.
Let’s say that your business disappeared or you lost your job tomorrow and you have twelve months of expenses set aside.
If you would like to know how much financial runway you have, I’ve setup a JavaScript calculator that you can use to calculate your runway below the video. Get Email UpdatesEnter your email address below to receive a steady stream of tricks, tips and ideas to help you build a better and more profitable business.
I am a Christian, a husband, a father, an entrepreneur, an author, an investor & a web developer. Whether you are preparing a draft, writing a report, working on a journalistic article or attending a meeting or a conference you can take down notes to go through important bits of information at a later stage. A good thing about taking notes using online note-taking tools is that you can access your notes from wherever you need to, provided you have Internet access. Not just PC, you can also synchronize your notes using smart phones such as iPhone, Windows Mobile, Android and BlackBerry.
Basically there’s a plethora of applications on the Internet that let you take notes online but you should only use reliable services as you are going to store your valuable data there.
This entry was posted in Efficient Working and tagged Efficient Working, Self Improvement, Work Solutions on June 11, 2010 by Felicia Adams. You have a set salary or hourly rate and earn approximately the same amount of money each month. Your income is irregular by nature and it can be very difficult to project how much income you’re going to earn in the next several months.
That means that you have one year to grow your business to the point where it generates enough income to provide for your monthly expenses before you run out of money.

The calculator assumes that you’re earning some amount of interest on your savings and investments and assumes that your expenses will increase by 3% per year because of inflation. The Ten-Year Turnaround is a life-changing financial plan that will enable you to turnaround your money problems and achieve financial freedom in about ten years. If you are new here, you might want to subscribe to the RSS feed for updates on this topic. They help you organize information and thoughts in a systematic manner so that you can easily retrieve the information in the quickest manner, when needed.
Since you find connectivity almost everywhere these days it’s better to use online tools for taking down your notes. Another benefit is that all online tools and applications are platform independent so whether you are using a Linux, a Windows or a Mac machine, you simply need a browser to access and maintain your notes. Almost all mainstream online tools these days give you an interface that you can use with smart handheld devices. If you don’t like intricate noting applications you can simply use your email account.
Using GoogleDocs you not only can create notes by yourself you can also collaborate with others by sharing your notes file.
It is one of the most advanced note taking application with both offline and online versions. More than serious research-based note taking, you may use Springpad to save important bits of information you come across while surfing the Internet.
You also operate under the assumption that you’re going to have the same job or a similar job indefinitely where you earn the same amount of money. You can’t ever really know for sure if your business is going to keep generating about the same amount of money it currently is, whether or not you’re going to see a significant jump in revenue or if your income is going to tank because of some future unknown event.

At the end of your one year financial runway, your business will either have taken off and sustain your monthly living expenses, or you’ll have crashed at the end of the runway and will have to go out and get a new job. It’s especially easy in Gmail as you can create threaded conversation and its search capabilities are faster too. You can maintain a single notes file or you can create different files for different note taking requirements. A good thing about this online note taking app is that you can add it as a gadget to your iGoogle page and maintain your notes quickly from there instead of going to the actual websites. You just don’t know when a competitor is going to eat your lunch or when your business model is simply going to stop working. Whenever you want to create a new note, create a new email, enter all the information you need to enter and email it to yourself. Of course you can use other tools like email, Twitter and Facebook accounts and smart phone applications too to maintain your online notes. For these reasons, it’s especially important for entrepreneurs to keep track of some basic financial metrics so that you know how long you can weather the storm if you suddenly have a drop in income. The metric that best identifies how financially stable you are as an entrepreneur is your financial runway.
If you don’t want your notes to get mixed up with other messages you can create a separate email account just for storing and organizing your notes.

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