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...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 mentally pat ourselves on the back before we go home at night.Have you ever caught yourself adding items to your list just so thatyou can cross them off? I must admit I have been guilty in the past. A task comes up that is not on your 'to-do' list, you immediately complete it then add the task to your list and cross it out. Maybe you feel a little better at the end of the day but it is time to stop and take stock of what you are doing.If you really want to get some value out of a to-do-list try thisidea.I have started to use two lists. One list has all the routine thingsthat have to be done every day and every week. These are the itemsthat clog up most lists in most companies. These are the things we end up filling our days with if we are not careful, unfortunately these tasks do not usually move the business forward.My second list is a little...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...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 levied on the richest people after they die, especially if they have a considerably large estate at that point in time. However, this is not always the case, and in fact, a lot of people find that they are being forced to pay an inheritance tax even though they do not have a particularly large estate. The reason for this is that housing costs continue to increase - and since your house is considered to be one of your assets, it is included in your estate.The inheritance tax is considered by some people to be a highly unfair tax due to the fact that the people who owned the estate had already paid their taxes before death. However, the inheritance tax is still in effect, and it can cost anywhere between forty and fifty percent of your estate over a certain maximum amount. Depending on where you are, that amount will change. Essentially, anybody who has more than that base amount in their estate will be charged 40-50% of any assets that...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
An IRS levy is an order from the Internal Revenue Security directing TVA to withhold a specified amount of an employee's pay to satisfy a tax debt. If the IRS determines that we owe back tax then it may issue an IRS levy requiring the deductions from...more