By Jeff Wharton, CEO of Bloomin’ Blinds
Starting a business is a thrilling and sometimes overwhelming journey. As entrepreneurs, we pour our passion and energy into making our dreams a reality. But here’s what I’ve come to learn from my own experience in the home services industry: passion alone won’t keep the lights on. Smart, strategic financial decisions are what drive real growth and ensure sustainability. For me, and for many others in this space, mastering financial fundamentals from the very beginning is what separates success from struggle.
I’ve been fortunate to lead Bloomin’ Blinds through some incredible growth moments—both challenging and rewarding. We’ve learned a lot along the way, and one thing stands clear: the principles of cash flow, debt, talent, and long-term planning are universal. If you’re a business owner looking to take control of your financial destiny, here’s what I believe you need to focus on:
1. Cash Flow Is the Lifeblood of Your Business
It’s easy to get caught up in revenue numbers and profit margins. But behind those figures lies your cash flow, the true heartbeat of your business. You can be profitable on paper, but if you don’t have enough cash to cover your bills, you’re in trouble.
I recommend new business owners forecast their cash flow at least 90 days in advance. Break down what’s coming in, what’s going out, and when. It’s simple, yet too often overlooked. But trust me, it can make all the difference when you’re in the thick of it.
Equally important is understanding your numbers beyond the surface level. Know your balance sheet, your income statement, and how liquidity differs from profit. You don’t need to be a financial expert, but you must know enough to make decisions that move the needle.
At Bloomin’ Blinds, we treat financial health as a team sport. That’s why we launched a Financial Literacy Program to give our franchisees the tools they need to boost profitability—whether it’s understanding QuickBooks or planning for next year’s sales. It’s about empowering every team member to make smarter decisions, not just the CFO.
2. Debt Isn’t the Enemy—It’s a Tool
Let’s be clear: debt gets a bad rap, but when used strategically, it can fuel your business growth. The trick is knowing how to leverage it. Debt should align with your business goals, not act as a temporary fix for poor planning.
Before borrowing, ask yourself: “Is this debt supporting my long-term growth strategy? Will the return on investment justify the cost?” Be thoughtful about how much you borrow and, importantly, when to repay. Too often, businesses take on debt without a clear plan for how to manage it, and that’s where problems arise.
At Bloomin’ Blinds, we recommend building a financial reserve that covers at least 6 to 12 months of operating expenses. It’s a safety net that helps you navigate slow seasons or unpredictable challenges without jeopardizing your long-term success.
3. Invest in People Before Tools
One of the biggest mistakes I see entrepreneurs make is trying to do everything themselves. I get it. In the early days, you’re wearing all the hats—sales, marketing, operations, finances—but you can’t keep that up forever. To grow, you must invest in the right people. Hire people who are better than you in their areas of expertise, and then let them do what they do best.
It’s a decision I made early on, and it paid off big time. Delegating allowed me to focus on scaling our operations while our talented team took care of the details. Building a trusted team and putting systems in place to support their success is what drives scale.
4. Your Network Is Your Greatest Financial Asset
When we think of networking, we often think about sales, partnerships, or growing our customer base. But networking is just as important for financial growth. Surround yourself with mentors, financial advisors, and fellow business owners who can offer guidance and help you avoid costly mistakes.
In a franchise system like ours, you’re surrounded by people who’ve been in your shoes—people who understand the ups and downs of entrepreneurship. Lean on your network. Build relationships with people who can help you grow faster and smarter.
When I started out, I leaned heavily on those who had walked the path before me. Their advice saved me from unnecessary expenses, helped me negotiate better contracts, and guided me in building a team that could take our business to the next level.
5. Think Long-Term from Day One
It’s easy to get caught up in the urgency of the moment—closing the next sale, making payroll, etc. But the best decisions I’ve made, both personally and professionally, were ones that kept a long-term vision in mind. From day one, think about where you want your business to be in five or ten years. That vision should guide every financial decision you make.
Invest in scalable systems and technologies that will grow with you. Build processes that are designed for expansion. And most importantly, be transparent with your team, partners, and lenders. A transparent financial approach builds trust and fosters alignment—everyone working toward the same goal.
At Bloomin’ Blinds, we’re open and transparent with our franchise partners. We share the numbers, the margins, and the expectations because we know that when everyone is on the same page, growth happens.
Conclusion
Starting a business isn’t a gamble. It’s about discipline, humility, and making the right financial decisions from the start. Master the basics of cash flow, debt, and long-term planning, and you’ll turn your good idea into a sustainable, thriving business.
Numbers tell the story of your business. Make sure it’s one you’re proud of, and one that lasts.