As a result of a directive from the Financial Services Agency, Banks in the United Kingdom are now being instructed to return fees to clients they are deemed to have overcharged. This is of major significance to those involved within the areas of Debt Management, Debt Settlement and Bankruptcy in general as these figures could be quite substantial overallLong overdue, this affair could cost in excess of £300 million at the end of the day. Part...more
Working with a bank to obtain a small business loan can be an easy or difficult process, depending on how prepared you are to meet with the lender and discuss your business' situation and needs. One of the leading causes of business failure is insufficient start-up capital. Ironically, though, lenders rarely approve loan requests for the businesses that have the highest need for a small business loan. Instead, lenders tend to prefer to offer...more
Most people think Santa Claus only works one night a year. Nothing could be further from the truth. Sure, product distribution takes place on one magical night, but Santa's operation runs year round and is one of the largest manufacturing and distribution operations in the world. You've probably never considered the fact that Santa is the CEO of a large organization that not only distributes a vast assortment of products throughout the world, but does so in a single night with just a sleigh and eight tiny reindeer. Sam Walton would have killed to have Santa's logistics manual. Do I believe in Santa? You bet your red longjohns I do. I especially believe in Santa's entrepreneurial spirit. Just consider all he does from an entrepreneurial point of view and I think you will start to believe, too.Santa Is His Own Company Spokesperson Santa is a brilliant marketer and knows that his image is the best marketing tool he has. No other face is as recognizable and no other entrepreneur has inspired so many songs. You'll never hear "An Ode To Jack Welch" on the radio ten times a day. Santa's Customers Love HimJust say his name around a group of kids and watch their little faces light up like...more
Do you use a to-do-list in your business? Of course you do, we alllove them don't we? Worry not, I have no intention of explaining howto prepare such a list, you already do that on a regular basis.Most people prepare a list at the start of the day or week and then steadily cross items off. If we cross a large number of items from our list we...more
In the last article we looked at a few of the things you should consider before leasing that first office or storefront for your business. To recap, you should not only consider the old standard "location, location, location," but also consider things like sufficient parking, the number of employees who will be working onsite, and future growth...more
Break-even analysis is a good tool for quickly determining if an idea has any legs under it. It is not meant to be used alone as a sole decision making tool. Most business formula-tools work better when tracked over time and compared with other decision making tools, including the owner's gut instinct.Break-even needs you to track your direct costs. Direct costs are expenses that only occur when you sell a product. Examples of direct costs are cost of products you sell and supplies. Once you subtract these costs from your income, you know how much each sale contributes to pay for your overhead (another term for indirect/fixed costs) costs. Business terminology can get confusing but hang in there.This can also be done with percentages. - Step 1 is to subtract your direct costs from your income to get a number called "Gross Profit." - Step 2 is to divide the gross profit number by your income to determine its percentage of income; e.g. - $2,000 of income minus $500 of direct costs equals $1,500 of gross profit. - $1,500 divided by $2,000 equals 75%. This means that 25 cents of every $1 of sales goes to paying direct costs (products and supplies) and that 75 cents is left over to pay...more
Reduce inheritance taxes by giving gifts!The inheritance tax is the same thing as the estate tax in the United States, but with a different name depending on the country that you are talking about. The inheritance tax is a tax that is supposed to be...more
When you engage in factoring or selling your accounts receivable, you're accepting less money for an asset than you might expect to get for it. But there are great reasons for factoring and here are 10 of them:1. The ready cash you'll get by...more
Time...It is ever moving and so easy to lose track of. Whether you are an engineer, a supervisor, a counselor or a nurse, productivity is important. We are all controlled by cost-effectiveness and billable hours. In this article, we will discuss...more
What are affiliate programs, and how can I turn them into a money making opportunity? If you find yourself asking these questions time and time again, you will want to look into what affiliate programs are all about. The fact of the matter is that...more
I am sure you know the problem, every month counting the days to pay day, worrying about your finances. I think that just about everyone at some point in their life has experienced this.Unfortunately, many people hear the adverts from the loan...more
When bills start to pile up too high, it can be difficult to keep up with payments. One option to solve the issue of having too many bills is to seek a second mortgage loan. However, if your credit is less than desirable to lenders for obtaining a...more