There is a delicate balance between the fee you need to charge for your products and services, and the fee that people are willing to pay for them. But with gasoline, heating, shipping, health care, and other costs rising, there comes a time when you must raise your rates in order to remain profitable.Most people see their own costs going up, and won't be surprised that you're raising your fees, too. With proper communication about it, you...more
With the end of 'a job for life', the ticking of the demographic 'time bomb', and the ever-increasing pace of new technology, employers are having to consider a wide range of new working patterns that take account of this rapidly changing work climate.So what is the government's position on these new ways of working; and what are the benefits and potential pitfalls for employers to avoid?What is the government doing?The government is well aware...more
If you own your own independent business, there are two organizations that hopefully your are already aware of. They are doing great work promoting small, locally owned independents by promoting community and government involvement. It takes all of us, working together, to improve our communities and the local business environment.The National Federation of Independent Businesses helps individual business owners with planning, taxes, and legislative matters. They have representatives in all 50 states and in D.C. I visit their site often for advice and articles. I guarantee that you will find several useful items of information within their site.The American Independent Business Alliance, based in Bozeman, MT, promotes independents buy helping business owners form IBAs, or Independent Business Alliances. These alliances in turn promote community involvement, the best example being the annual America Unchained Day, which takes place every November, the Saturday before Thanksgiving. They show their communites the power of "putting your money where your house is".I urge all independent business owners to join NFIB and look into starting an IBA. I am in the process of doing both. We...more
Starting a home business is a big undertaking. There are key elements to properly set up a home business. If anything is forgotten or left out it could make starting the business difficult or impossible. The following are key elements that every home business owners needs to have in place before actually starting their business.The Computer...more
Well, we're all reeling from our utility bills. So, what can be done to cut energy costs?Obviously, the best way to cut your utility bill is to go with a non-utility company source of energy. Solar power can be used to warm your house, while geothermal can be used to cool and heat the home. While these are great choices, there are a few simple...more
Correctly Pricing A Business Is Important If You Really Want To Sell It!As a consultant I talk to many business owners, brokers, and agents on a daily basis about valuing businesses. It always amazes me on how some of these individuals come up with the values on small businesses being sold. No wonder only 30% of all businesses sell! In many instances no consideration is given to the total picture – like will the available cash flow of the business be able to pay the debt of a loan, will the deal as structured or priced even be attractive to financing sources, "cash" price vs. "note" price and how these factors figure into the equation!I have seen many "professional valuations" where the price just doesn't make sense – and sellers wonder why their business for sale just sits there with no action!Market ApproachThere is a solution that is grounded in the fundamentals of economics, and time tested in the marketplace, where the influences of supply and demand ultimately determine where a business belongs on the price scale. One economist explains this market approach by comparing a business to a machine which has the purpose of making money: The more money it makes, the...more
Let me first say that I do not now engage in technical analysis; nor, have I ever engaged in technical analysis. I do not believe doing so would be a productive use of my time.Having said that, I do not claim technical analysis has no predictive...more
In the hands of the right consumer, a credit card can be a very useful tool. Unfortunately, the "right" consumer is rare. The concept of buying on credit, while convenient, actually serves only to line the pockets of financial gurus with millions of...more
Commercial Real Estate refers to the property that has potential to generate extra income for the owner of real estate. Commercial real estate generally includes office buildings, retail properties, apartment units, condos and raw land. Every...more
We all love to make money but after a while when you get too much product built up, you can start losing money. Why would we do that?What happens is we get in a mindset on the value we feel our items are worth, rather than what we can get for them....more
You see them in every strip mall east and west of the Mississippi: Cash Advance, Cash-N-Go, Check Into Cash, Urgent Money Service, and the list continues. What exactly are these businesses that seem to offer you money right when you need them? They...more
Candidates' experience and credentials, as detailed in the resume, are most often the frequently used criteria for determining which job applicants are deserving of a personal interview. Ultimately, though, the hiring decision is going to be...more