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...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 projections. I stressed that it was important not to get caught up in the moment. You should take your...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 levied on the richest people after they die, especially if they have a considerably large estate at...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 factoring will help your company to grow. If you have $2000 ready cash in the bank, but you've invoiced for...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 several time wasters and ways to increase your productivity.1. Identify, eliminate, prioritize, delegateYou cannot be expected to do everything. So often we feel so pulled in each direction that we do not get anything done. Make a list of everything you "need" to do and when it must be done. For some people this means a detailed description of what needs to be done and a daily schedule. For others, a list can be just that---a list. Keep three pages for each day: The things that MUST be done (i.e. pay the electric bill), things you would like to do (such as mow the yard) and things you will do if you have time (rearrange your sock drawer). From that list, eliminate anything that is not necessary, prioritize what is left and delegate whenever possible. When I ran a 24-hour facility, I often heard my counselors complaining that they did not have time to do this or that. I knew that my midnight person was watching television all...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
In the age to steaming gadgets that govern your business it gets necessary to use the right way to communicate in business, that is, proper business communication. Today we send fewer letters than we used to do earlier but the speed and low cost of...more
One of the biggest challenges faced by the home business or small business entrepreneur is to provide direction to their company. Many people simply start up a home business in their spare time with the hope that it will make money and eventually...more