RECESSION is looming! Admitting it is not being negative. The signs are there. It may not be Nigeria's worst ever recession. But the economy is slowing down all the same. Are you prepared for it? Are your defences up against it? Will you be able to cope when it starts to bite?Asking -- and finding the right answers to these questions -- is the right exercise that anyone with at least a little sense should be engaged in at this time. Not to do so...more
IF you were presented with three choices -- time, money [seed or working capital] and good health -- which one will you absolutely go for? Which of the three will you hang on to while ignoring the other two?Tricky question, you say? Maybe. But I don't think so. Not when you give it a deep thought. Depending on the level you're in your entrepreneurship career, the answer is as simple and straight forward as ABC.Without a shadow of doubt, these...more
Financing is one of the most difficult tasks for any business, especially during a financial crisis. Obviously cash flow is the life's blood of any business, at any time, good or bad. The important thing to remember is that because of this crisis all businesses are in the same position you are, as far as cash flow is concerned which directly affects the ability for any company to obtain financing. So how do we proceed?Mind SetThe first thing is for you to get into a different "Mind Set" by this I mean that you have to understand that you are not the only individual in need of funding. You have to realize that lending institutions are being inundated with cash starved businesses that ALL need funding now, or they will be out of business. When you understand and accept the fact that you are just a number to the underwriters, you will begin to get yourself into the right mind set and will be better poised to present your case.Preparation of the "Financial Crisis Funding Request" Basic and expected financial documents and reports that typically acompany a business loan applicationBasic Information Financial Statement Cash Flow Receivables Payables Projected Receivables...more
The problems IT Help Desk customers often encounterIf your company or organization has an in-house or outsourced IT Help Desk, chances are that some of your Help Desk customers are dissatisfied with the service they are receiving. Some of the many possible causes of dissatisfaction with IT Help Desks include:1. Long wait times when calling the Help...more
In a challenging economic environment you often you must work harder and longer to maintain your profitability. If you can become 10 more efficient through the diligent use of office software, that can help make up for the losses of a bad economy.Fortunately there are many tools available to maximize our efficiency in the office. By learning new...more
Lost your Job? Experiencing a sudden or unexpected career change? Worried about your future? The emotional response to career change is similar to dealing with loss as characterized by Kubler-Ross.DenialThere are typically two stages of denial that occur with sudden or unexpected career transitions. The first stage is typically very brief. There may be a short suspension of belief in which it is hard to imagine that you no longer have that job. The facts are pretty hard to deny, the position was there one day and you were gone the next day. Regardless of the circumstances, it is fairly difficult to deny when this fact when that door has been closed.The second and more dangerous period of denial occurs when lifestyle is not altered, even though the income has changed. In many cases, denial is subsidized by a severance package, a golden parachute, or unemployment benefits. The employer no longer provides the ongoing checks or benefits coverage, but the income if otherwise subsidized and therefore lifestyle if not substantially altered. This form of denial can be very dangerous and should be quickly resolved. With time the severance package, unemployment benefits, or personal savings...more
Sometimes our closest friends, family members, and even our spouse can be lobsters. Are you acquainted with any of these walking, talking crustaceans? You probably know lots of them, and you're in good company if you do. Almost everybody has at least...more
For a society as complex as the United States, categorization is very important. From the legal area to the political, from the medical area to the academic, every field has categories. The area of finance is no different. One aspect of finance that...more
In every business time is considered as gold. There are many company think of how they can save time because time is very important. Saving time is a ways of saving a lot of money too. This is true when it comes to their payroll department. Using a...more
Many contractors struggle with cash flow. Although this can be attributed to many factors, admitting you have a problem is the first step to recovery. Before you can take corrective action, however, you first need to understand where problems are...more
Credit cards are considered to viaduct breach between desires and fulfillment, uneasiness for purchasing and smile for growing capability of acquire even with inadequate cash in hand. Since these synthetic cards came to soak, they have allured...more
The housing market has been affected by the economic crisis, property values falling fast. Millions of people are unable to meet their mortgage payments, have lost their jobs or are suffering a reduction of their income. These circumstances are...more