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What you need to know about cash flow

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Cash flow is an integral part of your business finances and will actually be the lifeblood of your business. This makes it extremely crucial that you take the time to learn all you can about cash flow and how it affects your business finances. If you fail to understand how cash flow affects your business finances then your business will have a hard time paying its bills, making payroll, and having enough money to stay up and running. However, the good news is that there are fairly simply guidelines that will help you manage your cash flow and keep your business finances healthy. Here is what you need to know about cash flow-

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Commercial Cash Flow Lending Can Help

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Are you hoping to purchase new equipment or machinery? How can you afford to purchase this new equipment? If you don’t qualify for loans, you may be able to use commercial cash flow lending. What is commercial cash flow lending? This is when you are granted a line of credit based on the value of your assets, inventory, and equipment. A lender will be able to determine if you can make money in the future and will base the loan on this amount. They will need to look at your cash flow and to see the debts that you are paying and how timely your customers make their payments. The goal is to keep the risk ratio as low as possible in order to provide you with the funding that you need. In the majority of cases the commercial cash flow lending amount will average right around $15,000 or less.

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Cash Flow Loans Can Improve Your Future

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What type of financial problems are plaguing your business? Are you taking the time to work hard and to get to the root of the issues that are at hand? You need to be able to find the issues and to create solutions for them that will be able to work effectively at solving the issues and to ensure that you are able to have a strong company and a good financial position.

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What you need to know about cash flow

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The cash flow of your business will be a reflection of the state of your business finances. If you have a healthy cash flow then the chances are good that your business will grow and succeed. If you have cash flow problems then the chances are good that your business won’t last for long. This makes it critical that every business owner learn all they can about how to manage their cash flow. When you are taking proactive steps toward managing your cash flow you are helping your business thrive and grow. Here is what you need to know about cash flow-

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Understanding Your Cash Flow

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Managing cash flow properly is important to the success or your organization. Cash flow is one of the things that you constantly need to monitor or you could end up with a very serious situation. Cash flow that gets in the red is a sign that your company is hurting. If you do not have enough cash flow, you do not have money to pay for your companies needs. You must have a backup system in place that helps you with cash flow in the event that you do have customers that stop paying their bills and you have a large accounts receivables to deal with.

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Increasing Your Cash Flow

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Your company’s cash flow is one of the things that you have to stay on top of or you will struggle to survive. When the cash flow gets in the red, your company is in a serious situation. You are not able to have money to pay all of your bills and it is challenging for you to be able to even afford to pay your staff. You must have money in cash reserves in the event that you do have a cash flow problem. There are several different loans and things that you can use that will be able to help to balance your cash flow. Some companies will use invoice factoring to help balance out the cash flow as it allows you to take your invoices and to sell them off for cash today. You also do not need to worry about the collection of your invoices as the factoring company will do all of this for you.

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Tips for improving your cash reserve

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One of the most important things that any business owner should have is a cash reserve. Having a cash reserve can often mean the difference between surviving a financial crisis and going under. The reality is that having a cash reserve is your best defense in helping your business get through tough economic times. It is also important to understand that having a cash reserve is not enough. You need to be able to know how to best manage and maintain your money in order for it be effective. The good news is that there is lots of information to help you do just that. Here are some tips for improving your cash reserve-

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All about cash flow

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Every successful business owner knows that cash flow is the lifeblood of their business. If you want your business to succeed then it is imperative to learn all you can about managing your business cash flow. Healthy cash flow will allow you to grow and develop your business. When you have learned the guidelines of successfully managing the cash flow for your business you are increasing the chances that your business will be profitable for a long time to come. Here is what you need to know about cash flow-

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All about cash flow management

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Cash flow will be what keeps your business up and running, or brings about its demise. Studies show that most small businesses, fail due to the improper management, of their cash flow. If you do not manage your cash flow, then your business will face a constant struggle in paying its invoices, payroll and other needed expenses. The good news is that there are things that you can do, to proactively manage your business' cash flow. Here is what you need to know about cash flow management-

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What you should know about cash flow

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Every business owner knows that cash flow is the lifeblood, of all businesses. It is important to learn everything about cash flow to free yourself from money worries. You can use some basic rules of finance, to help you take control of your cash flow, so you can create the business you have always dreamed of. Here is what you should know about cash flow-

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How to have a healthy small business cash flow

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One of the basics of running a small business is the need to maintain a healthy cash flow. In fact, having a healthy cash flow can mean the difference between your business prospering and growing, or simply fading away. It is important to remember that adequate cash means that you can meet your obligations. Savvy small business owners don't just add and subtract the numbers, they manage them. If you carefully and thoughtfully manage your cash flow, you can strengthen you company's financial position. Taking these certain steps can help you improve and continually strengthen your business's financial position. Here is what you need to know about how to have a healthy small business cash flow-

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The need for small business valuation software

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Once you start up a small business understanding everything about the business finances can be challenging. Do you know how to figure out your company's valuation? How can you calculate your return on investment properly? This is vital to anyone that is seeking to invest in a business as they need to be prepared with a cost amount to come up with the maximum price they are willing to pay for the company.

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Stop the confusion with your financial statements

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Are you dealing with a lot of confusion when it comes to your financial statements? If it seems to be challenging and frustrating for you to manage your statements and to understand them, it may be time to contact a good financial advisor. They not only have the experience you need but they have extra tools that will help such as being able to provide you with tax preparation help and also payroll help. With tax laws changing all the time and a lot of confusion surrounding many of the laws, it helps to have someone that knows what they are doing and someone that can easily provide you with solid advice.

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Learning more about inventory ratio

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There are so many factors that play into running a successful business. Your inventory is one of the things that has a huge impact on your company. Ordering a higher volume of products can be killer on your companies sales and can really cause you to struggle financially. At the same time, not dipping into your cash flow to bring in inventory for your company will also lead to many problems as well since you don't have products to sell to your customers.

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Learning more about business cash controls

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Maintaining your company's cash flow is one of the most important things you can do for your business. Having a strong cash flow and keeping your business out of the red is vital to the existence of your business. What is your cash flow and how does it impact your business? Cash flow is lifeblood of your organization. You rely on it to pay your bills along with providing your employees with payments. Cash flow is a very important aspect of your business and if you lose control over it, you will lose your business.

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How to solve cash flow problems, with invoice factoring

cashflow19162760.jpg Many businesses experience a number of cash flow problems as their customers do not pay on time and they end up struggling to pay their vendors as they have to money. Cash flow problems can lead to so many issues that it can be frustrating for small business owners to survive. If you are sick of struggling with your cash flow problems and you would like to feel comfortable with your business for a change, invoice factoring may be the solution you are seeking.

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How does absorption costing work?

piggybank19158815.jpg What is the cost of manufacturing your products and services? You need to consider using absorption costing in order to get a better picture of how everything ties together and to see how the indirect costs will impact the direct manufacturing costs. Every product you sell needs to break even. When the costs are unable to break even it leads to a financial downturn for your business as you are unable to come up with the money necessary to keep your business afloat and to survive properly.

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The basics of cash flow management

manwithmoneyfan34926870.jpgYour cash flow is the lifeblood of your organization. Without proper management of the cash flow, your company will struggle to pay its invoices, payroll, and you will find it is hard just to stay afloat. So what can you do to maintain control over your cash flow to ensure that your company will be successful? This article will offer you a basic guide to cash flow management.

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Sustaining your cash during the credit crunch

womanpondering63313193.jpgSince many banks have decided to crack down on their lending policies, it can leave your business in a vulnerable position. What will you do if you need money to finance a new piece of equipment or machinery? The credit crunch can cause you problems if you aren't careful. You must have cash reserves to fall back on during hard times, especially if banks don't want to lend you the money. Here are some easy ways in which you can sustain your cash flow during the credit crunch:

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Avoiding cash flow problems

moneydownthedrain24709202.jpgNo matter what you do, you will struggle with your cash flow if you are not controlling your books and watching your invoicing methods. Customers will take advantage of companies that offer credit and they will wait up until the last day to pay their bill, leaving you with a shorter cash flow amount to operate your business. Here are tips on how you can avoid cash flow problems:

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Figuring out who to pay when you experience cash flow shortages

recession19085238.jpgThere will always be times when your business will struggle with cash flow needs and many other things. A lot of companies simply stop paying their vendors because their customers are no longer paying them and they cannot come up with the money to stay in business. Your vendors provide you with the supplies and other things to stay in business so cutting them off from your accounts payable is one of the worst things you can do.

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Preparing customer invoices that will help you get paid sooner

bills39158685.jpgA critical mistake businesses make is not knowing how to invoice their customers and collect the money from them in a timely manner. If you are new to the small business world, you may be wondering what type of information you should include on the invoice in order to generate the right type of return from your customers. The information found in this article will teach you how to generate invoices and send them out in a timely manner to get your customers to pay their bills.

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Closing the cash flow gap the easy way

manstandingonmoney32149463.jpgWhen the money at your company is getting tight and you find it challenging to pay your vendors and others, it will cost you a lot of money to ask a lender for a loan. Lenders see businesses that are struggling and they will offer you the money with a high interest rate or they won't offer it at all. Borrowing money to fix your cash flow can be potentially dangerous to your company as it can take years to pay back and there is no real way to ensure your customers will pay you on time. Instead of looking for loans to try and close the cash flow gap all the time, you need to look into some alternative ways to bring in the money you need to stay afloat.

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How to do a cash flow analysis

brokenpiggy19109501.jpgCash flow analysis is an often overlooked step in cash management. Failing to do this can mean the difference between running a successful long-term business and shutting your doors. Business owners must be able to understand the difference, between cash flow and profit. They should also understand the concept of free cash flow. Savvy and successful business owners, have to be able to prepare cash budgets and statements of cash flows. And most importantly they have to be able to manipulate their cash flows, as economic conditions change.

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Why cash management is important

money30389666.jpgIt is crucial for small businesses, to understand how important cash management is to their survival. Surveys that are conducted of failed businesses, show that most failed companies, (up to 60%), say that all or most of their failure, was due to cash flow problems. Small business owners must understand that nothing matters more than cash. Making a profit is nice, cash flow is necessary; however, it is critical to understand that cash management is the key to business success.

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Solutions for your small business cash flow

debt19389797.jpgCash flow is king and vital to the financial health of your small business. When you don't have money coming in, your cash flow will start to dwindle as you may find that you are paying all of your lenders in a timely manner to sustain your business credit rating. The problem with paying out your invoices while you are waiting for your customers to make their payments is that you won't have working capital to invest into your inventory and other business needs. There are numerous solutions that will improve your cash flow problems but only one solution tends to stand out far above the rest and that is the process known as invoice factoring.

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Liquidity and cash budgets

money30329551.jpgTwo of the most important aspects in your cash management program, for your small business are to clearly understand what liquidity is and how it relates to your cash budget. Liquidity is often overlooked, and sometimes misunderstood. This can be a serious mistake, for a small business with limited assets, and cash flow. It should be understood that focusing on liquidity may come more naturally to a CEO, than to an accountant who is trained to practice accrual accounting. This is because when your business is just starting up, you essentially run it out of a check book, which is an example of cash accounting. Then as long as there is cash in the account, your business is solvent. However, as your business becomes more complex, you will have to adopt financial accounting. This means that you have to keep a focus on liquidity and cash management, even though you track net income through financial accounting.

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How to minimize your business expenses

moneybeingpinched7361240.jpgRunning a business can be complicated and expensive. The bottom line is that in order to offer the best prices possible, you need to keep business expenses low. And in order to make the most profit, you need to keep business expenses low. This means carefully considering each of your business expenses, and seeing where you can minimize them. While most businesses will identify supply and labor costs as areas that can be targeted, there are other areas, such as taxes, employee turnover, and late fees, can add to business cost, but are not as obvious. Keep in mind that in order to minimize overhead, it is necessary to examine everything that adds to it, and identify the ways they can be reduced or eliminated. Here is what you need to know about how to minimize your business expenses-

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How to choose between equity or debt financing

ladyonphone30745252.jpgWhen small business owners are considering their options, for financing, it usually comes down to one of two options. Those options are debt or equity financing. It is important to understand that there are significant differences between the two, along with equally significant ramifications. Savvy business owners will do well to fully educate themselves, about both choices, before making a final decision. Here is what you need to know about how to choose between equity or debt financing-

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How to better manage your business debt

money30743392.jpgSmall business owners quickly find that one of the most important aspects of running their business is their ability to manage their debt. The ability to do this successfully becomes critical in helping to determine whether your small business is able to flourish and grow, or quickly becomes one of the majority of failed small businesses. Managing your business debt becomes even more difficult for small business owners, who may be facing a number of challenges, such as holding too much inventory or sluggish receivables, which can send a business's cash flow into the red. However, despite a difficult economy and various other challenges, by identifying the areas where you can reduce costs and increase revenue, you can begin managing debt more efficiently and revive your business's cash flow. Here is what you need to know about how to manage your business debt-

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Finance your business through accounts receivable

businessmeeting26246912.jpgTraditional financing is not as easy to come by as it once was. Savvy small business owners are having to turn to other methods in order to secure, the financing they need, for their business. There are many methods that you can tap into; however, many small business owners are turning to using their accounts receivables to gain funding.

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Freeing up assets for a better business future

groupplanning26668223.jpgSometimes in order to better manage finances, small business owners must free up assets, to improve their cash flow situation. This can be done in a variety of ways, and each small business owner, must determine the right steps to take if they undertake this method of cash management. If assets are handled correctly it can improve the financial standing of the business, failure to free up the correct assets, or doing it the wrong way can doom the business. Here is what you need to know about freeing up assets for a better business future.

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Setting financial goals for your business

charttwo30340387.JPGDetermining how much money you want your business to make in a year is a very serious decision and something that has to be given serious thought and sufficient time to do properly. Setting financial goals for your business marks a very important milestone in each year for the business and will determine many of the actions that you will take over the course of time. Setting business financial goals is similar in some ways to managing personal finances and accomplishing them will bring great satisfaction.

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The relationship between business finance and business growth

graphpresentation16486405.jpgGood financial management and business growth are things that many small businesses hope for and they sometimes treat them as independent variables, but they are really part of the same equation that will result in success for the business. The relationship between good business finance management and business growth is notable and here is some more information about how they are related.

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Managing business cash flow

moneydownthedrain24709202.jpgCash flow is incredibly important to any and every business and a business simply cannot survive if there isn't enough cash flowing in and out of it. Many people and business owners believe that cash flow is something that just happens, but there are things that can be done to ensure good cash flow in your business that will help you stay stable and maintain the levels you want.

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Writing checks, safeguards

bills39158685.jpgMost people think that writing checks is safer than using a credit or debit card, but the fact is that problems can occur when you write checks. When you are writing checks the best thing that you can do to help safeguard your personal information is to learn some safeguards for writing checks. Here are some tips that you can follow for safer check writing.

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Personal finance goals

brokenpiggy19109501.jpgIt is very important for a person to set personal finance goals early. Even if things change, it is helpful for a person to set their finance goals before it is too late. There are a variety of personal finance goals for a person to set. This article discusses different personal finance goals.

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Fiscal fitness

money30743392.jpgWe all know what it takes to be physically fit, but what about fiscally fit? Being smart about your money, and financially healthy takes practice, and a regimen just like physical fitness. The following are some tips for improving your fiscal fitness:

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Using merchant cash advance loans to finance your business

portfolio37194094.jpgIf you have no collateral and you need money for your business now, a merchant cash advance loan may be your only option. Merchant cash advance loans are easy to obtain and it hold several advantages over traditional business financing:

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Simple tips to improve your cash flow

money30329551.jpgChanging the payment terms on some of your bills can easily improve the cash flow for your business. Cash flow problems often cause businesses to go under because they are unable to meet their monthly financial obligations. This article will look at different ways you can improve your cash flow problems and start expanding your company:

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Organizing your business finances

stackoffolders30346201.jpgOrganizing business finances can take up 20 hours of your time each week. For most business owners, this is 20 hours that they just don't have. This article will discuss some easy things you can do to organize your business finances:

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Measuring cash flow

walletwithmoney8252668.jpgThere are 3 distinct aspects that measure cash flow: core operations, investing, and financing. Every business must produce a cash flow statement; this is separate from the income statement and the balance sheet because it doesn't discuss future cash flow projections that are based on credit.

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Managing Payables

manstandingonmoney32149463.jpgBusinesses must establish relationships with suppliers and they must pay their suppliers within the set time frame or face large fees. Quite often the fees will cost more than the supplies and some businesses find themselves looking for a small business loan just to cover the cost of their payables. Managing payables is a key component of maintaining proper cash flow. Businesses that are in the expansion phase often over-extend their payables and they can wind up in a lot of trouble. Always keep an eye on your expenses and do not assume that you can boost your sales quickly to make up for the higher payables.

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Managing cash shortfalls

womaninpain26240586.jpgThere will be at least one time that your business will experience some cash shortfalls. This situation will put your business in a difficult position because you may not have the money to pay your bills. For some business, cash shortfalls arise due to poor bookkeeping. Others run into problems because of downturns in the market. Whatever the situation may be, you need to understand how to manage cash shortfalls properly.

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Finding business financing during hard times

recession19085238.jpgAs the country continues to struggle and fight a recession, business owners have a great opportunity to grow their business. Smart business owners can increase their market share by using factoring or obtaining proper business financing. Finding business financing during a recession is difficult because lenders do not have the money to lend and many of them have been hurt with high-risk lenders that defaulted on their loans. Factoring is one of the best business financing options during a recession and it can help your business expand.

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Angel investors can help get your business started

business41865609.jpgIf you are looking to get funding for your business, but cannot get funding the traditional way, another option that you have is using an angel investor. An angel investor is somebody who invests in businesses that are just getting started or businesses that are looking to expand. Angel investors are similar to venture capitalists, but rather than forming a limited partnership with other investors, angel investors invest on their own in opportunities that they think are worthwhile.

With angel investors they are looking for businesses to invest in because they are looking to receive a higher return on their investment, businesses usually give a higher return than traditional investment opportunities. No matter what the reason angel investors have for investing in a business they are a great opportunity for business owners because they provide funding when other opportunities fail. In addition to capital, angel investors can also provide expertise, experience, and contacts for business owners to use in a specific line of business.

Before you can consider using an angel investor, you will need to know more about them, so you can understand how angel investors work. Here are some things that you need to know about angel investors.

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Using a venture capitalist to finance your business

chart30392829.JPGTo successfully run a business you are going to need to obtain some form of financing to get your business up off the ground. The reason for this is that in order to keep your business up and running you will need to obtain some type of capital just to get the business started, without capital the business will never get up and running so it will never have the chance of being successful. Most people who want to start a business but don't, simply do not start their own business because they do not have the capital required to get the business running. Nor do they have the means of raising the capital through business loans or other means of financing.

For people who cannot get funding through banks or other methods of financing the one option they have left is to get funding for their business through venture capital. Venture capital is money that is given by investors to business owners so that they can open up businesses. Venture capital is private equity that is provided to business owners by outside investors, also known as venture capitalists.

Here are some things that you should know about using a venture capitalist when funding your business.

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Non-traditional methods for financing your business

brokenpiggy19109501.jpgMost potential business owners know about going to a bank to obtain financing, but this is not possible for all business owners because of credit issues. Obtaining financing through a bank is a traditional method of obtaining business financing, in some cases you might need to use some non-traditional methods of financing to get your business off the ground. Here is a look at some of the more popular non-traditional methods that you can use to finance your business.

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Increasing your residual cash flow

money30329551.jpgOne way for your business to make money is to increase your residual cash flow. Increasing your residual cash flow might even be able to double your businesses money, and without money, your business is not going to survive. In order for your business to grow you are going to need to increase how much money your business is making each month, otherwise your business will remain the same day in and day out.

Residual cash flow is a type of cash flow that your business has, the thing with residual cash flow is that the amount of money you are receiving each month stays the same. With the amount of money, you are receiving each month staying the same, it is very easy to predict and manage your business's residual cash flow. A perfect example of a residual cash flow would be a magazine subscription, if your business publishes a magazine and sells subscriptions to it, each month the money is going to stay the same, unless you increase how many subscriptions are available. Residual cash flow is monthly payments that your business is receiving that will not stop until a later date in the future.

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How to manage your cash flow

broker19160449.jpgYour cash flow is one of the most important aspects of your business. If you are not careful, your cash flow can either make or break your business because they end up getting into a spot of trouble and can't get out of it because you do not have enough cash to handle the expenses. To prevent this from happening the best thing that your business can do is to manage their cash flow, so that you can have enough cash in your business to help you avoid any major problems.

Here are some tips that you can use to help manage your business's cash flow.

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How to create a cash flow forecast

bills39158685.jpgOne of the best ways to manage your business's finances is to create a cash flow forecast. The reason for this is that a cash flow forecast is going to show you where your business's money is going and how much money your business is earning. Cash flow forecasts are also going to be needed if you plan to get finance for your business.

Here are the steps you will need to take to create a cash flow forecast.

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Approaching a bank for financing

portfolio37194029.jpgIf you are getting ready to open your own business or you are trying to expand your business, you are going to need to have some type of financing. One of the most common ways to obtain financing for your business is to go to a bank and apply for a loan. Many business owners find that approaching a bank for financing for your business can be an intimidating process. Here are some tips you can follow to approach a bank for financing.

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Improve cash flow with the basics

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Many people know that a business just can't function unless there is cash flowing in and out of the business. But what many people can't figure out is how to make this happen for any business or even how to make it a reality for their own company. Understanding the basics of cash flow can improve many areas of the business and ensure a long and prosperous future. Here is some more information to help you determine if you are on track with the basics.

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Improving cash flow today

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Your cash flow consists of not only your sales, but your collections as well. An increased cash flow not only increases the value of your business, but it also provides financial security along with the opportunity to improve or introduce new products, hire needed help, and spend more money growing your business.

You can improve your cash flow today with some of the following options:

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Cash flow is king

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Many people have heard the saying that cash flow is king in the business world. The fact of the matter really is that cash flow is one of the most important aspects of a successful business if not the most important one. Cash flow is what keeps the financial markets all over the world functioning and making progress. It is essential that your business have proper cash flow and a good understanding about how to make this happen.

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Why your cash flow matters in business

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Any smart business owner knows that their cash flow is the lifeblood of their company. It allows companies to expand and it helps them continue operating on a day-to-day basis. If you run out of cash, you are out of business. It is as plain and simple as that. Almost 90 percent of all business failures reported that they had a problem maintaining their cash flow and accounts receivables.

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Leasing business equipment

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A business can't function without the proper tools or equipment. Equipment is the most essential part of operating a business. Depending on the size and the objective of your business, buying some of the equipment can be avoided by simply leasing them from different outside sources. Many small to medium sized businesses already use the approach of leasing some of their equipment. Nowadays, the process of leasing business equipment is very common and popular among business owners.

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Five quick ways to speed up cash flow

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When you start a new business you are looking for return. Most business owners have set up shop so that they can make a living, so that means they need cash flow. And the sooner the better!

There are many things that can bring in cash flow, just some a slower than others. Once you are up and rolling you are ready to be rolling in the dough! Here are five ideas that are known to bring in cash flow, and usually pretty fast.

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How to Get a Cash Flow Loan

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In some cases, the day-to-day operations of a business exceed the amount of money coming in. Whether it is because customers are not paying their bills on time or because your business is just starting out and isn't bringing in enough money to cover expenses, a negative cash flow can mean the end of your business soon.

If your business is experiencing problems with cash flow, it might make sense for you to obtain a cash flow loan. This sort of loan is used for the purposes of day-to-day operations of your business, such as payroll, purchasing supplies, or paying bills. Keep in mind however that cash flow loans are only a temporary solution for the problem; your company will have to find a way to bring in more money or reduce expenses if you want it to stay afloat.

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Free cash flow - what it means and how to build it.

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Money comes and goes in a business. Equaling income and expenses, this is free cash flow. Keeping track of your cash flow and making sure you do not run out is the way to build it.

Your company will need to be able to have enough money coming in to cover the expenses going and then have a little money at the end of the month left over to build an increase in the cash flow.

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Free cash flow - what it means and how to build it.

manwithmoneyfan34926870.jpg
Money comes and goes in a business. Equaling income and expenses, this is free cash flow. Keeping track of your cash flow and making sure you do not run out is the way to build it.

Your company will need to be able to have enough money coming in to cover the expenses going and then have a little money at the end of the month left over to build an increase in the cash flow.

Continue reading "Free cash flow - what it means and how to build it."

How to get a cash flow loan

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Sometimes businesses need a little bit of extra cash and money to help the business to continue to run well. One of the ways that you can get this extra money is through a cash flow loan. A cash flow loan is a great way for growing businesses to help with business expansion, extra financial needs due to the reason, or just during a cyclical business swing that is occurring. There are a couple places where you can apply for a cash flow loan. Generally, companies which have a predictable and constant cash flow have cash flow operations for making and giving loans. Here are some things that you can do to get a cash flow loan:

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Free cash flow what it means and how to build it

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Everybody likes to get free stuff, and getting free money for your business is always a welcome thing! For example, companies can get free money through the free cash flow. Free cash flow (also known as FCF) is the cash that a company is able to generate or create after determining the money that is required to expand (or simply maintain) the asset base. Essentially, it's left over money that is free! However, you shouldn't run off and go buy a new car with the extra money generated from your business. Free cash flow is very important to help a business grow and improve. Instead, with free cash flow you will be able to increase shareholder value and pursue other opportunities to help the company grow. You will need this extra cash to be able to develop your new products, pay off some debt, and make some new acquisitions.

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Why cash flow is essential to a successful business

twentyfifty36226730.jpg Why cash flow is essential to a successful business is something that not a lot of first time business owners may think about at first. Cash flow is how much money comes in and out of your business. Cash flow is the money that you use to buy or make new products, how you pay any employees and the rent or upkeep for the building you have for your business. Without cash flow your business may not succeed and will have some big challenges. Cash flow is the lifeblood of any business and that is why it is essential to a successful business.

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What factors affect your cash flow?

rainingmoney23689639.jpg Cash flow is the measure of cash inflow and outflow from your business. Positive cash flow means that you have more money coming into the business and negative cash flow means you have more money leaving. There are several things that can affect cash flow in the business world. This article will discuss what factors affect your cash flow and how to improve your cash flow.

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How to assess the effects of sales tax on cash flow

savings23278455.jpg Everyone in the business world knows that managing cash flow can be an exhausting task. It's also important to understand that there are many factors that can influence cash flow today, sales tax being one of them. But how do we assess the effects of sales tax on cash flow? Managing your cash flow effectively and forecasting are your bets bet for planning for things such as sales tax effects on your cash flow.

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Making sure you have good cash flow

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Cash flow is the crucial to your business. Cash flow is the oxygen of your business. It allows you to rest easy, and the lack of it can kill your business. The goal of good cash flow management is to have enough cash on hand when you need it. Cash flow allows you to make decisions without the fear. Cash flow helps you build good credit. Making sure you have good cash flow means your bills are paid on time, you have easy payroll, and overall better sleep.

Having good cash flow techniques ensures that your company always has enough cash to meet its financial obligations and demands. Having enough cash will help you get whatever funds are required at the right time, and in the best possible way. If you are short cash flow then this could cause a loss in business and even financial trouble and bankruptcy. Don't let that happen to you! Here are some ways to make sure you have good cash flow for your business.

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Why great cash flow leads to a successful business

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Cash flow is the key to having a successful business. If you have poor cash flow management, you are probably not going to last long in the business world. Cash flow is the center of every business. It directly impacts every part of your company from accounts receivables to sales to your office manager.

Cash flow is essential for a growing business since it is part of your budget. If you are overspending before receiving payment from your customers, you are looking at bankruptcy or closure of your business. Many companies's make the mistake that purchase orders are part of the sales for that month. While they are counted as a sale, the actual money usually doesn't come in for 30 to 60 days. This causes many companies to overspend because their purchase orders aren't being paid in a timely matter and they think the money is already there.

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How to increase cash flow quickly

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If you are like any other business, marinating a positive cash flow is essential to operate your business. The best way to maintain a positive cash flow is staying on top of your business finances. Your account receivables department is the best part of your company that can increase your cash flow quickly. Having a quick cash flow is easy to obtain with proper invoicing procedures and good people in your accounts receivable department as well as good people in your sales department to let your customers know up front how to pay their invoices quickly.

Having poor financial management is one of the biggest causes for a business to fail. It is common for many small firms to go out of business because of poor cash flow. For a smaller company, cash flow is their lifeblood. Relying on your accounts receivable department to follow up with the invoices and paying all major expenses and debt obligations will help control the business finances. Good cash flow will assure the company that you have enough cash on hand when you need it.

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What you can do to take advantage of your business assets to improve your cash flow

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There are a number of different ways that you can take advantage of your business assets in order to improve your cash flow. Your business assets, whether they are liquid or not, can be manipulated in a way that will enable you to improve the cash flow to your company. Increased cash flow is beneficial for a number of different reasons, including an ability to free up assets in a more liquid form so that they can be accessed more quickly than assets that are in a non-liquid form, such as real estate or some other sort of asset.

One way that you can take advantage of your business assets to improve your cash flow is by using something called accounts receivable funding. Accounts receivable funding is also referred to as factoring. Accounts receivable funding is something that is the transactions of accounts receivable, also called invoices, between a third party called a factor and a business. Whenever the business bills clients, whether other businesses or the government, the business generates invoices. The factor is a source of funding that specializes in accounts receivable funding. The factor, or third party funding source, then purchases the receivables of the business at a discounted rate. Accounts receivable funding is one of the fastest and least complicated ways, along with one of the least expensive ways, for you to improve your business cash flow and also to raise working capital for your business.

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Using factoring as a means of improving cash flow

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Factoring is a common process in the small business world. Factoring is the process of selling your accounts receivable invoices to a third party who then is in charge of collecting on the invoice. The agents in charge of collecting are called factors. Factoring for small business is a great way to provide financial growth. Since cash flow is so essential in business, factoring is the best method to expand operations.

Factoring allows a company to sell invoices at a discount and be paid a cash advance before the invoice comes due. Since many businesses monthly sales do not produce cash on time, factoring is a great method to pay wages and creditors.

One of the great things about factoring is that it does not tie up assets outside the business and does not involve repayment of debt at some future point in time.

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Tips for having better cash flow

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The goal of any business is to earn a profit. This goal can be accomplished in many different ways. However, there are some key business principles that must be upheld in order for a business to survive. One of those is having a sufficient cash flow. For some businesses, maintaining a sufficient cash flow can be tricky. Here are a few tips for keeping cash available when it is needed most.

Lease Instead of Buy

Some companies believe that they must own their office space in order to be successful. For some this may be true, however if a business is having a hard time maintaining a sufficient cash flow, leasing can help. By leasing, a business frees itself from annual taxes, and it can often pay less monthly. This will allow for more of the money coming in to be allocated toward paying employees, stocking shelves, or reserving for emergencies.

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How to attract investors

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One thing that every company dreams about doing is expanding or growing, most businesses don't want to remain where they are at even if it means just hiring an employee or two. Most owners of businesses have dreams about making more money and like most of you know in order to make money you are going to need to spend money. This is actually where investors come in. There are plenty of people who want to invest in businesses, but the problem is trying to figure out what you can do to get them to invest in your business.

Difficulty rating: Moderate to difficult

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Five tips for better monitoring and controlling the use of petty cash

In any business there are times that you will need to use cash for purchases or events. This is fine, in and of itself. However, cash can be very difficult to monitor and control in a business. It's hard to know where every cent of change ends up. You have to be sure to get a receipt not only for when you receive the cash, but after you've spent the cash as well. So let's discuss five tips for better monitoring and controlling the use of petty cash in your business.

Having a petty cash fund at work, or simply allowing your employees to occasionally use cash (that you give them at your discretion) can be very difficult to control. This difficulty can be amplified especially when there are several people who are allowed access to your petty cash fund. Many companies keep a small fund of cash on hand for supplies and other miscellaneous financial needs. However, you should always keep this cash in a secure location, locked in a safe. Only people who are allowed access to the cash without consulting you should be allowed to carry a key to the safe with them. Otherwise you should be the one to give out access to the cash funds. Here are five tips to better cash management:

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How to produce a cash flow forecast

How to produce a cash flow forecast? In order to be able to produce the cash flow forecast, there are several financial factors that need to be analyzed. In order to have the projected figures for the next twelve months, it is important to look at what has already happened in the corporations past.

The way a cash flow is used for the overall survival of a corporation, and the overall achievement for profit and success, is by using an accurate cash flow forecast. Then, how do you produce a good cash flow forecast? That is a good question.

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How to manage cash flow problems

Introduction

In many small businesses, cash flow can be quite a problem. The problem is not just as simple as more cash flowing out than cash flowing in. If that is happening consistently, you have other, bigger problems that you need to manage. The type of cash flow problem that this article will help you manage is a discrepancy in timing. We assume that overall, you are making money, however, if the cash coming in is not available when you need cash to go out, you have a cash flow problem that is manageable.

Instructions

Difficulty: medium

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How to manage cash flow problems


Introduction

In many small businesses, cash flow can be quite a problem. The problem is not just as simple as more cash flowing out than cash flowing in. If that is happening consistently, you have other, bigger problems that you need to manage. The type of cash flow problem that this article will help you manage is a discrepancy in timing. We assume that overall, you are making money, however, if the cash coming in is not available when you need cash to go out, you have a cash flow problem that is manageable.

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How to monitor cash flow in your business


Do you want to manage the cash flow in your business better? It is really important to monitor the cash flow so that you can close any "cash flow gap" that may be created in your business. A cash flow gap essentially happens when the cash outflows and the cash inflows don't match up with each other, which eventually leaves a business to be short on their cash. The best to way close this cash flow gap is to monitor and watch the cash flow in your business. This way, you will be aware of any potential problems with your cash flow, and you will be able to stop any shortages of cash from happening. Here are some ways to monitor cash flow in your business:

 Monthly evaluation: One of the easiest and most common ways to monitor cash flow in your business is through a monthly evaluation of the total unpaid purchases. You should compare this number of the unpaid purchases to the total sales that are due at the end of the month. For example, If you have a higher amount of unpaid purchases than the total sales that are due, you will need to spend more cash than your receive in the upcoming month. Needing to spend more cash indicates that you will probably have a cash flow problem.

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How to double your residual cash flow:

When running a business your financial strategies that you use are very important. The more financial strategies you implement the better off your business will be. One thing that you definitely want to try to do is to double your residual cash flow. Residual cash flow is great because you can always count on it. Your other cash flow is hard to predict because it all relies on how many products you can sell or how many services you can provide. Residual income on the other hand is much more reliable.

Residual cash flow is cash flow that reoccurs month by month. It is very predictable and very constant. While the first type of cash flow depends on how many products you sell or services you provide, residual cash flow has more to do with things such as magazine subscriptions. Residual cash flow has to do with monthly payments that are being made to you that will not stop for a certain period of time. While with the other you have to sell many products, with residual cash flow you only have to sell one subscription and then you receive payments continually for a certain period of time. Residual cash flow is better because it is reliable and because it gives a more predictable idea of how much money your company will make in a given month.

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How to Get a Cash Flow Loan

In some cases, the day-to-day operations of a business exceed the amount of money coming in. Whether it is because customers are not paying their bills on time or because your business is just starting out and isn't bringing in enough money to cover expenses, a negative cash flow can mean the end of your business soon.

If your business is experiencing problems with cash flow, it might make sense for you to obtain a cash flow loan. This sort of loan is used for the purposes of day-to-day operations of your business, such as payroll, purchasing supplies, or paying bills. Keep in mind however that cash flow loans are only a temporary solution for the problem; your company will have to find a way to bring in more money or reduce expenses if you want it to stay afloat.

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How to calculate your breakeven point?

Knowing your breakeven point is crucial to any business venture it changes the risks involved with starting a company and can help you make good decisions with a company that is already running. The breakeven point is a crucial piece of information and calculating it as accurately as possible changes the future from a guess to a plan.

First let's define the breakeven point- breakeven point is when you are back to 0 in your business. Most of us know a products profit margin or the amount over the cost of the product that we make for each item that sells. Let's take a hamburger restaurant as our example. We are great shoppers and find our hamburger for $2 a pound so our ¼ pd hamburger costs .50 plus the bun and toppings lets say we are up to $1 per burger. We sell the burger for $2 and that makes our profit margin per unit $1. But we have to pay Sally and Susie to work at the hamburger restaurant and we have to pay for lights and rent on the building and energy to heat the burgers, these are all our overhead costs. Let's say all those things come to $1000 a month more. That means for our business to get back to 0. We aren't losing any money or making any money we have to sell 1000 burgers a month. That is our breakeven point.

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Free cash flow – what it means and how to build it.

Money comes and goes in a business. Equaling income and expenses, this is free cash flow. Keeping track of your cash flow and making sure you do not run out is the way to build it.

Your company will need to be able to have enough money coming in to cover the expenses going and then have a little money at the end of the month left over to build an increase in the cash flow.

Continue reading "Free cash flow – what it means and how to build it."

Should your use factoring to finanace your business

To run a successful business you have to have very good financing. It is important that you run your finances well otherwise you will probably not stay in business for long. You need enough money to start the business as well as enough money to keep the business running for, hopefully, a long long time.

Most of the money you will receive to keep the business running is from your customers. They will buy your product and you will keep the money that they pay you with. You can use this money to keep up the business, pay employees etc. If you did not have any money coming in like this then you would not be able to stay in business at all.

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How To Get a Line of Credit

For small businesses that are starting out and in the process of developing it is important that they get a line of credit. The expenses for staring out a business can be huge and it is almost impossible to pull that from the pocket unless you are very wealthy and are bored with life so you started a small business because you had the urge to. This of course is rare.

There are tons of expenses from salaries and rent to advertising and utilities. There are countless things to consider and countless things that are not thought of until you already have your business up and running. Because there are so many expenses and it is hard to come by money with out working your tail off, and even then you may find it impossible at first to make ends meet. A line of credit could be a great idea for you.

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Offshore Strategies & Services

Offshore strategies may or may not be right for you. Moreover, there is a right way and a wrong way (legal and illegal) to execute offshore strategies. If you choose the wrong way you may wind up worse off than if you had done nothing at all.

You need a principled, experienced offshore consulting firm to give you the right answers. There are hundreds of offshore service providers on the Internet. But who are they and, just as importantly, where are they? If you have never used offshore resources to protect your financial future because you just couldn't be sure with whom you would be dealing, you were correct to be concerned.

Many of these Internet promoters seem to exist only in cyberspace. They prey on fools with unrealistic goals. Use your common sense and choose a consultant just as you would a lawyer, doctor or accountant. Research who they are and where they are physically, not just a domain name or email address. Get references and check for licenses or registrations.

Offshore Goals

What are your goals? If your goals are unrealistic you are a perfect candidate to get burned by unscrupulous promoters as they will be the only ones willing to promise you the moon.

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Five Quick Ways to Speed Up Cash Flow

At one point or another, almost every business runs short of cash. Whether due to normal fluctuations in demand or an unexpected decline in sales, cash shortfalls are the bane of every company, and are responsible for sleepless nights for many business owners.

Yet, there are a number of simple ways that you can reduce your dependence on your companys line of credit and increase the cash that you need. Here are five no-cost methods to try:

Increase Receivables Collection Efforts: This is the easiest and fastest way to generate cash but, surprisingly, most companies do a terrible job of it. Start by calling all customers whose invoices are between 25 and 30 days old to ensure that they have your bill and to find out when it is scheduled for payment. These are the easiest collection calls to make and they often result in faster payment. And, it allows you to quickly rectify problems that may delay your check.

Get Payment In Advance: Another often overlooked technique is to simply ask customers for advance payment, or for a partial payment for goods and services. This approach is especially valid with large purchases, or on work where youll incur significant expenses before being able to deliver the final product. Most customers will agree to such a request without asking any questions.

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Can Walmart make you rich?

Have you ever shopped at Walmart and thought... I need to get my products on those shelves. Did you spot the perfect place for your new product and think, Bingo, that's where my product will go. I think I'll give them a call.

The truth is, Walmart receives hundreds of calls each day, asking the same question, "How do I become a vendor?" For many people getting your products on the shelves of Walmart is the pot at the end of the rainbow. Thoughts of millions of dollars race through their heads. For some, Walmart is the pot of gold they searched for. For others it will be another day in bankruptcy court.

The road to the corporate Walmart headquarters can be a long one, it can also be the best road ever traveled. Before even approaching such a large retailer, you must do your homework. The first step to being a Walmart vendor is to go online at www.walmartstores.com and submit detailed financial info about your company. You can also call corporate headquarters in Bentonville, Arkansas at (501) 273-4000.
Operators will refer you to the appropriate department for the information you need. You also must be listed with and order and pay for two Dun & Bradstreet reports. Walmart wants to know you can handle your biz.

In addition to following these steps, you must apply for Universal Product Code (UPC), meet applicable liability and workers compensation insurance requirements, pass quality assurance testing, and meet Labeling and Packaging requirements. If you survive this round, you might just find yourself in the big ole parking lot filled with rental cars from fellow vendors... ! your competition. Don't worry, there will be many scared faces to match yours.

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Top Ten Tips for Improving Your Cash Flow

Cash is kingso they say. If you work for yourself or someone else, you need to be aware of ways to improve the cash flow. Budgeting and collecting are not glamorous but they are both key to having a successful business. Working in a successful business is much more fun than working for a struggling one!

1. Stick to your budget. (If you dont have one, make one now.) The budget is part of a business plan. You want to know exactly how much to spend on each large item you purchase and when you will have the cash to do it. Your cash flow projection coupled with your forecast will give you the proper timing for making purchases. The items you have budgeted for should also be part of the business plan.

2. Bill your clients regularly. Many business owners are so busy selling to new clients that they forget to invoice the clients they have already worked with. Put the task of billing your clients on your calendar and then stick to that schedule.

3. Get a retainer for your services before you begin the work. If you are going to be working with a client over a period of time, you will want to request some money up front before you begin to deliver the service.

4. Give a discount for early payment. You will be able to collect the money more quickly if you offer a discount for prompt payment.

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How To Get An Instant Pay Raise

As a gentleman was leaving my class recently, he wanted me to clarify something I had said. He was making sure that he should take his four or five thousand dollar tax refund and pay off debt.

I was stunned. This money represented $400-$500 that could have been in his pocket every month. A survey of my friends this week revealed one who was getting back $2800 and one getting $3300 back this year.

Getting a large tax refund (over $500) means you are having too much money withheld from your check every pay period.

Many people use this as a forced saving plan and it does not make any sense. You are loaning the government YOUR money, interest free. Every $1200 in refund is an extra $100 per month you could have used to eliminate debt or invest for your future.

I 'd venture to say that most people who do get large refunds could use this money every month to ease their debt burden. This burden frequently leads to late charges and higher interest rates. Instead, they like the feeling of getting that big check in the mail and figuring out how to spend that chunk of money.

The ideal situation is to either owe or get back $100.

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The Mathematical Formula For Making Money

No matter what markets you serve; what products you sell; or what marketing tools you use, in business there's one truth you cannot escape.

Embrace this truth and profits will flood your business.

Disregard this truth and financial-cancer will eat you.

What is this truth?

Quite simply, the size and speed of your entrepreneurial success is directly proportional to your understanding of The Mathematical Formula For Making Money.

Despite serving as the corner stone of every single commercial success since the dawn of commerce most businesses neglect its power. Being so familiar with the diluted version of the formula these businesses overlook the enormous profit-potential held within.

The Formula

Mindful of this blind-spot, let's now take a close look at the Mathematical Formula For Making Money:

Leads x Conversion Rate = Customers

Customers x Average Dollar Sale x Sales Per Customer = Gross Profits

Gross Profits x Profit Margin = Net Profits

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21 Secrets of Self Made Millionaires

Self-Made Millionaires are not smarter or better than you. They have just discovered these secrets and used them to become wealthy. You can do it too.

(1) DREAM BIG DREAMS. Thinking Big will change your life. For a crash course on this read "The Magic of Thinking Big."

(2) CREATE A SPECIFIC PICTURE OF WHERE YOU'RE GOING. The more specific you are the more likely you are to get there.

(3) THINK AND ACT LIKE YOU'RE THE OWNER OF A BUSINESS, THE BUSINESS OF EVERYTHING YOU DO. Even if you work for someone else, you're attitude will plant seeds for your independent greatness to grow.

(4) LOVE WHATEVER YOU ARE DOING NOW. If you don't love it, leave it. By saying no to doing work just for money you are magnetizing work to you that you can love.

(5) CREATE A MASTERMIND GROUP. Have a regular meeting with others who are committed to building great lives. Share what you're up to and support each other.

(6) ESTABLISH A HEALTHY WORK ETHIC. Make taking action your best friend.

(7) COMMIT TO CONSTANT NEVER-ENDING IMPROVEMENT. Every day be searching for how you can learn more.

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Does Money Grow On Trees?

"Money Doesn't Grow On Trees."

Some of us even believe it. An orchard owner would say the statement is wrong.

His profits grow on trees

As small business owners we are similar to tree farmers. We plant and nurture trees knowing that they will bear fruit. Some business owners grow trees with the idea of selling them when they start to produce fruit, but most of us build our orchards with the intention of selling the fruit.

In the early stages the trees require much tending. Later as the trees mature, they require less effort and produce more fruit.

How many trees are in your orchard?

My trees are designed to produce a constant stream of fruit with little oversight. This means once I have planted the tree I can move on to the next project.

Here's an example. I write ebooks. These are simple, tightly written reports on specific subjects. People buy them and then download them to read them. Each ebook explains a solution to a problem or a outlines a method to accomplish something.

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Treat Money Well To Attract More

Your ability to attract money has a lot to do with how you behave toward it.

The Law of Attraction works to send you more of what you think, feel and do. So the way you deal with money has a direct relation to how easily and abundantly it comes to you.

Imagine that money is a guest in your home and ask yourself: Would I treat a guest the way I treat money? Here are three ways we can show hospitality to guests - and money.

First, welcome your guests. Truly appreciate, from your heart, each visit and every visitor. A friend of mine welcomes money to his home by displaying each check he receives on a coffee table in his living room. He spends a few days appreciating his "guest" before depositing it into his bank account.

Since I receive most of my income electronically, I keep a spreadsheet of every transaction that comes my way. I love watching the total grow and I appreciate each person through whom the money came to me.

Second, remember that guests like to go places and do things and buy stuff. Money loves to go to restaurants, amusements and specialty shops. But money doesn't discriminate between pleasurable and "have to" activities. It also enjoys visits to the power corporation, the phone company and the firm that holds your mortgage. Money simply loves to be in circulation. It looks for people who understand that the more money you circulate, the more money you attract to circulate.

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Bankruptcy Myths Busted

The average American knows very little about bankruptcy. Most people probably are aware of bankruptcys ability to dissolve debt and give the debtor a fresh start. Some of the information you might have heard is correct, but some is not. The purpose of this article is to dispel some of the most common bankruptcy myths.

1. Even if I file for bankruptcy creditors will still harass me and my family.

This is absolutely false. Bankruptcy law provides for an automatic stay. Simply, as soon as you file for bankruptcy a hold is put on all your outstanding debts and any creditor attempts to collect those debts. The law prohibits a debtor to attempt to collect, possess, or even contact the debtor in regard to the debt. If a creditor does not follow the rules, the debtor may have an action in the form of punitive damages. Basically, punitive damages are meant to punish a creditor for not following the procedures set out in the bankruptcy code. Whether a debtor has a cause of action against a creditor should be left to an attorney to answer. However what you need to know is this; once you file for bankruptcy, creditors must leave you alone or suffer the consequences.

2. If I file for bankruptcy it may cause more family troubles than I already have, maybe even divorce.

This is also false. There are two ways a debtor can file for bankruptcy voluntary and involuntary. Voluntary filing is done by the debtor. The debtor talks to an attorney or files a petition pro se and gets the bankruptcy process started. In an involuntary bankruptcy, the creditor forces the debtor into bankruptcy often times unwanted by the debtor. Voluntary filing is the result of a family discussing their options with each other and possibly an attorney and making an informed decision on the merits. Divorce is often associated with a bankruptcy with the latter filing. Voluntarily filing for bankruptcy gives the debtor a chance to set his terms and allows the debtor a free choice for the bankruptcy.

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Do You Make These 7 Deadly Cash Flow Mistakes?

Managing cash flow is every small business owner's most important function. Avoid these seven deadly mistakes to make sure you aren't creating cash flow problems in your business.

1. Using the "Fly By The Seat of Your Pants" Accounting Method.

When tax time rolls around do you find yourself pawing through piles of paper on your desk looking for credit card receipts from your business trip? Or are you upside down digging under the seat of your car trying to figure out where all your gas receipts are? Are you wondering if that coffee stained piece of paper is an invoice from a supplier? Do you have a vague feeling that someone, somewhere owes you money but, you just can't remember who it is? If so, you're probably guilty of operating with the "Fly By the Seat of Your Pants" accounting method.

Using this accounting method has a tremendous impact on your business's cash flow. Unless you have a system to track your business finances, you'll always be operating in the dark and in danger of imitating George of the Jungle as he slams into a tree.

2. Not Knowing What the Numbers Are All About.

Once you have a real honest to goodness useful accounting system that's where the real fun starts. You've got a bunch of numbers but what in the world do you do with them?

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Six Critical Steps in the Turnaround Process: An Owners Viewpoint

Step 1 Recognize the Problem for What it Really Is A MAJOR CRISIS

The undeniable temptation of the business owner seems to be conveniently blaming one major event for the companys problems: Perhaps its just another low point in the regular cycle. Perhaps its just one bad management decision on extending credit or investing heavily in a new product that failed. Perhaps its just a couple of new orders that cost you more money than anticipated.

But your business advisors (lawyers, accountants, etc.) have got to help you accept the fact that your business is, in fact, in a Life Threatening Major Crisis, and the sooner you accept and acknowledge that you are in a crisis, the sooner you can take appropriate steps to deal with it.

Step 2 Recognize the Need for Outside Help The problems you have dictate the type of outside help you should seek. If you are in a true crisis or near one, you are likely faced with dwindling cash, little time to act, and decreasing options still available to you. Its critical to seek help from outsiders, turn-around consultants, who have been there and done that. Most owners have never even heard of turnaround consulting, let alone witnessed a turnaround specialist in action; therefore, the concept of real economic value they can provide seems vague and abstract.

The cost of the turnaround consultant or team is usually a huge shock to the entrepreneur. Having one or more full-time consultants on the expense ledger, charging several hundred dollars an hour for several months, can be very expensive. Although, frankly speaking, what does it matter? Your alternative is almost certainly losing your company, your investment, your career and your status.

Continue reading "Six Critical Steps in the Turnaround Process: An Owners Viewpoint"

Mediating out of Financial Crisis: Negotiation with an open book policy can mean the difference between financial stability and bankruptcy

Weve all experienced conflict in our lives, from schoolyard spats to the power play with the ambitious coworker. But when a company experiences a financial crisis, the conflicts that erupt can mean corporate extinction.

According to Dan Dooley, partner with corporate turnaround consultancy Morris Anderson & Associates, negotiation between all business parties is especially important when a company is in financial crisis. Fundamentally, he says, a workout is a multi-layered negotiation, because youve got multiple stakeholders, including senior debt, meaning the bank; the people who own the company, often many layers of equity owners; the people who manage the company, and on top of that usually unsecured or trade creditors.

What often happens during crisis is the CFO or other C-level manager is trying to contain the news that the companys in distress, he says. But the funny thing is that the vendors, creditors, employees and bankers already sense the distress. Hiding the trouble is the wrong thing to doit only damages managements credibility.

So whats the first step? Dr. Beverly Potter, author of From Conflict to Cooperation: How to Mediate a Dispute, recommends that the mediation process begin with information gathering. All parties involved need to openly discuss the issues one at a time. For management at a financially distressed company, this means looking beyond the numbers to the consequences.

Continue reading "Mediating out of Financial Crisis: Negotiation with an open book policy can mean the difference between financial stability and bankruptcy"

Turnarounds and Workouts: What's the 2005 Forecast?

Clearly, the trend of large company insolvencies that started in 1999 has come and gone. Most of us in the turnaround industry expect the next few years to have much slimmer pickin's.

We won't spend much time explaining why the cycle of distress has ended. It's clear to industry insiders that: 1) big company bankruptcies, which drive the turnaround industry, are way down; 2) non-performing assets (NPAs) of most lenders are again within fully reserved levels; 3) bank workout staffing is down 25-75%; 4) capital funding returned to the market in late 2003 in all segmentsequity sponsors, high-yield bonds, M&A activity, even cash-flow lending; 5) the U.S. economy is expanding in almost all sectors, and; 6) the boom-to-bust cycles of "hot" industries (internet, telecom, energy) driven by technology or regulatory changes have mostly run their course.

So what's a turnaround consulting firm to do when near-term business is likely to drop by 50% or so? The obvious solutions are being worked by many of us: skill redeployment to front-end M&A work; diversification into services such as M&A and litigation support; and geographic expansion, mostly to Western Europe, where local laws are evolving toward debtor-friendly rehabilitation.

That said, there are numerous structural changes in the U.S. economy making turnarounds a growth industry for decades to come. Consider the following phenomena.

1. Interest Rates

Many people believe interest rates are about 200 basis points (or more) too low based on history. Greenspan's dilemma is to move rates up gradually without stalling the economic recovery or unduly harming President Bush's re-election bid. When interest rates rise, any struggling company now paying more than 5% of net revenue in cash interest will suffer a body blow to its meager profitability and liquidity.

Continue reading "Turnarounds and Workouts: What's the 2005 Forecast?"

Moving from Defense to Offense

Its time to do M&A deals. Equity funds are under strong pressure to deploy committed capital or return the dough to the investors. Deal multiples are increasing, and serious bidders for distressed and profitable businesses are driving up prices. Distressed Asset investment bankers are shifting resources back to more traditional M&A because deal flow is back.

Although the lending environment has only loosened up moderately in the last two quarters, one can almost feel the pressure starting to increase to grow that portfolio. The signs include a major decrease in Fortune 500 bankruptcy run-rate, improved loan quality ratings across the board, bank workout group sizes being reduced, loan portfolios down 10% to 20%, major workout consulting firms rediscovering the middle-market, and BofA buying Fleet, an action that will likely reignite what Ted Koenig of Hilco Capital calls The Great Bank Consolidation.

The big questions: Will we repeat the sins of past? And what should be the lessons learned?

Sins of the Past

1. Industry roll-ups are not necessarily accretive to value Simply putting together a group of similar businessesin terms of market and industryto form a bigger business doesnt create accretive value unless more cash is generated by the new business. We have witnessed too many roll-ups with somewhat similar businesses where no cost takeouts were planned, cross-selling between the businesses was unrealistic, and roll-up management was only capable of adding overheadand not up to the task of managing the much larger and diverse business resulting. Typically, these roll-ups have failed, with many of them un-rolled and the original sellers buying them back at a fraction of the sell price.

2. Weak or non-existent operating due diligence It is amazing how little due diligence investors and lenders were performing on deals in the late 90s. Just because the numbers add up on an Excel spreadsheet doesnt mean that a management team can execute a business plan.

Continue reading "Moving from Defense to Offense"

Building Wealth by Paying Yourself First

When I look around at all of my friends, and a lot of my family, I see a lot of people living from pay check to pay check, under monetary stress. These same people watch the Calendar for payday like a hawk. Pay their bills, and then open up the spending flood gates, before they know it, they are itching for their next pay check. These same people are the people who don't think they make enough money to build future wealth. They are wrong.

The way I save money, is by paying myself first. I have automatic deductions come out of my bank account on the 15th and 30th of every month, which I put directly into a mutual fund for safe keeping. I take a small portion of my pay check, roughly 10% and put it away. This may not seem like much, but over time it adds up.

In addition, with mutual funds you will have the benefit of compound interest on your side. You should EASILY be able to achieve 8% interest on average in a good a mutual fund, often times more. Thats $800 a year on $10000!

Once you start, you will be addicted. Watching your funds grow is incredibly addictive and will inspire you to invest a larger percentage as your income rises. If you have debt, put a portion of this percentage towards the debt and a portion into your mutual fund, so you have something positive to reinforce your automatic deductions.

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Investing Online Has Its Rewards: Find Out How To Take Advantage Of Them

Computerized investing. Online investing. Have you taken the next step yet? These days among savvy investors, online investment resources are synonymous with opportunity.

The capabilities that we currently have at our fingertips were unavailable just ten years ago. The speed at which you can invest with an online broker, along with ease of use (you can trade in your underwear), makes traditional local brokers seem obsolete.

More and more people are taking to active investing rather than just sticking money in mutual funds recommended by their advisors. This means atypical investors are now taking active roles in their portfolios and seeing greater returns, if they know what they are doing.

In order to become an active investor, you must know what you are doing. It is your money we are talking about here. The thing is, once you know that there are ways to net up to 18%+ returns on investments that are hardly more risky than what most people consider safe today (mutual funds, diversification), you can hardly live with yourself by leaving your money in a safe 4% fund.

I work with people to change their perceptions about what is possible with investing today. The tools available online for investors are simply incredible when you think about the fact that investing news and the latest trends would have to wait to reach you until they were printed and flown to whatever part of the country you live in.

Continue reading "Investing Online Has Its Rewards: Find Out How To Take Advantage Of Them"

10 Days to Making More Money

Most of us overcomplicate things. Selling is pretty simple. True we need systems in place, support materials and a contact manager, but when all is said and done what stops us from selling is usually in our head, not in our office.

There are 4 actions when taken everyday for 10 working days with unswerving commitment will increase your sales and put more money in your pocket. Guaranteed!

1 - Set Your Intention There is absolutely no substitute for knowing what you're going after. Research clearly indicates when we set an intention or a goal we subconsciously as well as consciously align our actions and resources to attain that goal. What some folks find as lucky and coincidental is actually the power of intention at work. Few things are as powerful as our thoughts and if our thoughts are not aligned with our actions our thoughts always win. When you set a strong intention it gives your actions a path to follow instead of the other way around.

How many prospects will you contact each day? How many sales will you make? It is important to keep your intention clearly in front of you throughout the day. Don't worry how all the details will come together just keep focused on what you want to accomplish. Intention does not take the place of action, but action alone can often result in activity and no sales.

Continue reading "10 Days to Making More Money"

Mediating Out of Financial Crisis: Negation with an "Open Book" Policy Can Mean the Difference Between Financial Stability and Bankruptcy

Weve all experienced conflict in our lives, from schoolyard spats to the power play with the ambitious coworker. But when a company experiences a financial crisis, the conflicts that erupt can mean corporate extinction.

According to Dan Dooley, partner with corporate turnaround consultancy Morris Anderson & Associates, negotiation between all business parties is especially important when a company is in financial crisis. Fundamentally, he says, a workout is a multi-layered negotiation, because youve got multiple stakeholders, including senior debt, meaning the bank; the people who own the company, often many layers of equity owners; the people who manage the company, and on top of that usually unsecured or trade creditors.

What often happens during crisis is the CFO or other C-level manager is trying to contain the news that the companys in distress, he says. But the funny thing is that the vendors, creditors, employees and bankers already sense the distress. Hiding the trouble is the wrong thing to doit only damages managements credibility.

Continue reading "Mediating Out of Financial Crisis: Negation with an "Open Book" Policy Can Mean the Difference Between Financial Stability and Bankruptcy"

How to Increase Your Profits Without Spending a Dime!

Whatever the purpose of your web site you have to pay for certain services. As a bare minimum you will need to pay for hosting, for traffic and for an autoresponder account. The costs of these services are fixed irrespective of the number of sales that you can make.

lets say that your total fixed costs for these services are $500 a year and that you sell 50 eBooks a year at $27. That means that your income is $1350 and, after paying your fixed costs you are making $850 profit each year. So your profit represents about 63% of your sales income.

Now, lets say your current conversion rate of unique visitors to sales is about average at 2%. So to get 50 sales you need 2,500 unique visitors.

To boost their sales income, most people will try to increase the traffic to their web site by spending money on Pay Per Click campaigns, advertising in ezines or by investing in banner adverts. If you don't want to spend your hard earned cash, then you will need to invest a lot of time on article writing and other "do it yourself" promotional activities.

What if you could nearly double your profit in a few easy steps?

Continue reading "How to Increase Your Profits Without Spending a Dime!"

Reverse The Risk And Boost Your Profits

As a business owner or marketer, if you don't reverse the risk in your product and/or service offerings, you're really missing out in what can be one of the most powerful weapons in your marketing arsenal.

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Risk Reversal Defined
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Risk Reversal, in essence, means that you, the business owner, assumes all the risks associated with the business transactions, and your customers none.

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Why Reverse The Risk?
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The main reason that you'll want to reverse the risk is so that you may boost your sales and profits.

Risk Reversal can easily be achieved by providing an Extraordinary Guarantee. An example would be an iron-clad, no-questions-asked money back guarantee.

Continue reading "Reverse The Risk And Boost Your Profits"

What Does Financial Freedom Mean To You?

Most working people dream of this thing called financial freedom. It certainly sounds like something we'd all want. But have you ever stopped to really think about what it means? It can mean different things to different people, so before you spend time looking for it, maybe it's worthwhile to examine what the concept really means to you. After all, it's hard to find something if you don't know exactly what it is!

Time and money are inversely related. This means that in most cases, one can be traded for the other. And if you think of how that applies both to your everyday life and to the way business is conducted, it's true. For example, you can spend your own time cleaning your house or mowing your lawn, or pay someone to do it for you, and free up the time for yourself. You can spend time researching on your own, or you can pay some money for someone else's specialized knowledge in that same field.

With that idea in mind, financial freedom may be defined broadly as reaching the point where you no longer have to trade your time for money in order to provide for what you want in life. There are two key phrases in that idea - "no longer have to trade" and "what you want". These are what you have to define for yourself, in order to determine what financial freedom means to you.

Continue reading "What Does Financial Freedom Mean To You?"

10 Days to Making More Money

Most of us overcomplicate things. Selling is pretty simple. True we need systems in place, support materials and a contact manager, but when all is said and done what stops us from selling is usually in our head, not in our office.

There are 4 actions when taken everyday for 10 working days with unswerving commitment will increase your sales and put more money in your pocket. Guaranteed!

1 - Set Your Intention There is absolutely no substitute for knowing what you're going after. Research clearly indicates when we set an intention or a goal we subconsciously as well as consciously align our actions and resources to attain that goal. What some folks find as lucky and coincidental is actually the power of intention at work. Few things are as powerful as our thoughts and if our thoughts are not aligned with our actions our thoughts always win. When you set a strong intention it gives your actions a path to follow instead of the other way around.

How many prospects will you contact each day? How many sales will you make? It is important to keep your intention clearly in front of you throughout the day. Don't worry how all the details will come together just keep focused on what you want to accomplish. Intention does not take the place of action, but action alone can often result in activity and no sales.

Continue reading "10 Days to Making More Money"

Do You Make These 7 Deadly Cash Flow Mistakes

Managing cash flow is every small business owner's most important function. Avoid these seven deadly mistakes to make sure you aren't creating cash flow problems in your business.

1. Using the "Fly By The Seat of Your Pants" Accounting Method.

When tax time rolls around do you find yourself pawing through piles of paper on your desk looking for credit card receipts from your business trip? Or are you upside down digging under the seat of your car trying to figure out where all your gas receipts are? Are you wondering if that coffee stained piece of paper is an invoice from a supplier? Do you have a vague feeling that someone, somewhere owes you money but, you just can't remember who it is? If so, you're probably guilty of operating with the "Fly By the Seat of Your Pants" accounting method.

Using this accounting method has a tremendous impact on your business's cash flow. Unless you have a system to track your business finances, you'll always be operating in the dark and in danger of imitating George of the Jungle as he slams into a tree.

Continue reading "Do You Make These 7 Deadly Cash Flow Mistakes"

7 Cash Flow Secrets Your Accountant Never Told You

Looking for ways to boost your cash flow? As a small business consultant, I make these recommendations to my cash strapped small business clients:

1. Shoeboxes are for shoes, not business records.

Pardon my candor but, you will never have a successful business if you dont systematically track your income and expenses, who owes you money, and who you owe money to. This is absolutely crucial. You dont have to have a big expensive computerized system, although a computer program like QuickBooks certainly does a beautiful job. You can keep track of everything with a pencil and paper if you like. But, youve got to track basic information in a systematic manner. Without this vital information your business cannot flourish and your cash flow will always keep you up at night.

2. Getting your customers to show you the money.

The best way to get your customers to pay what is owed is to remove every possible excuse for nonpayment. Dont extend credit unless its absolutely necessary. Establish credit policies to help determine who will get credit. Get an invoice into the bill payers hand as quickly as possible after the work is done or the product is delivered. Dont be afraid to send a letter or statement or make a phone call reminding your customer his bill is due. Never be rude. Always be firm. Focus on preserving the relationship. If a customer has a legitimate gripe about your business do whatever you can to fix the problem.

Continue reading "7 Cash Flow Secrets Your Accountant Never Told You"

10 Ways To Get More Profit From Your E-zine

Publishing an e-zine will help you to strengthen your status as an expert in your field and convert more of your visitors into customers.

The following tips will provide you with ways to successfully increase the revenue you get from publishing your own e-zine:

1. Write your own articles.

Writing articles will help you to connect with your readers, share your knowledge, and promote your business through your resource box.

If you have an affiliate program, let your subscribers as well as your other affiliates reprint your articles with their affiliate URLs in your resource box.

You'll be able get more of your readers and visitors to join your affiliate program and successfully promote your business.

2. Include testimonials for your products or services within your e-zine.

Your testimonials will increase your readers' confidence in your product. Include testimonials from your customers and also from other experts in your field.

Continue reading "10 Ways To Get More Profit From Your E-zine"

7 Strategies to Make Room For Money

Laws of the Attraction notwithstanding, there are several external ways that you can make room for more money in your life.

Yes, there are those of you who can manifest whatever you want, whenever you want. This article is for those of you who may need just a few extra tools.

First, it is vital to create a space that can be filled with what you really want.

Start by going through your closets. Remove every article of clothing, shoes, and purses you have not worn in at least a year.

How do you know what to get rid of?

Use the following as a guide:

1. Use your intuition. Trust it.
2. Ask yourself if you love it.
3. Does it fit?
4. Do you use it?
5. Do you need it?
6. What memories does it bring up?
7. Again, use your intuition.

Take all of these clothes, shoes and purses to your local resale store. You will start receiving money immediately.

Continue reading "7 Strategies to Make Room For Money"

How A Change in Perspective Can Help You Make More Holiday Season Sales: Pt. One

Some sites are perfect for the Christmas season - their products fit easily into the idea of gift-giving. But what if the products and services you offer are for small business owners?

Or, as many of my clients ask, how do I survive the holiday season if I sell intangibles?

When a couple of people brought this question up to me in early fall, my answer was that I'd probably make enough money in October not to have to worry about November and December at all. Prevention made sense to me at the time as being the best cure, but it also doesn't mean that I've resigned myself to slow sales during the holidays.

On the contrary, I think that most people who have businesses that offer intangibles such as ebooks, downloadable software, or marketing services can just as much, or more money as the rest of the year by changing tactics slightly.

In other words, just because much of the world is more focused elsewhere doesnt automatically mean that there is a smaller pool of available customers.

True, part-time small business owners may be more mindful of gift-giving and planning family gatherings right now, and anyone with family may sacrifice a new widget for themselves to get that special someone the gift of their dreams.

Continue reading "How A Change in Perspective Can Help You Make More Holiday Season Sales: Pt. One"

5 Warning Signals Your Business Might Have A Cash Flow Problem

A key reason for business failure is poor cash management. If you don't pay attention to your daily cash flow, you face extinction; yet so many business people loss site of their cash flow. No matter how fantastic your company's products are, you will not survive unless you generate sufficient cash flow to sustain it. It is not the goods or services that are the end-products of your business, it is cash.

1. You are exhibiting a decrease in liquidity (you are running out of working capital).

2. You are overtrading by selling more than you are capable of dealing with financially.

3. You have excessive short-term debt.

4. You are missing discounts on your payables or you are paying them beyond the stated terms.

5. You are collecting your receivables slowly and outstanding receivables are piling up.
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Jeff Schein is a CGA and offers advisory services in the areas of business planning, business modeling, strategic planning, business analysis and financial management for new ventures and growing small businesses. Visit www.companyworkshop.com or mailto:jeff@c...
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DEBT COLLECTING: Notice of Listing

The Notice of Listing law is aimed at regulating the actions of collection agencies and their operatives. You should be familiar with it even if you are a small business owner or work in the accounts receivable department. Following the same rules as the professionals do will help protect you from lawsuits.

Every collection agency is required to send a "Notice of Listing" when they receive an account for collection. This letter is the first word the debtor gets from the agency. It informs him that a particular business has turned his debt over to a collection agency.

The Notice of listing includes a sort of "Miranda warning" which informs the debtor that this is an attempt to collect a debt and that any information obtained maybe used for that purpose. If the debt is going to be placed on the debtor's credit report, the debtor must be given 30 days to respond before that action is taken. If your Notice of Listing indicates that you are going to put the debt on the debtor's credit report you cannot send the debtor anything more for at least 30 days, during which time the debtor can dispute the debt. To do this the debtor has to send a letter stating that he disputes the bill. He does not have to give a reason.

Continue reading "DEBT COLLECTING: Notice of Listing"

How to Get Money Back for Your Process and Procedures

Wouldn't it be nice to get some of your money back that you have invested in developing policies, procedures and processes for your organization? Well, you can with the recently restored tax credit.

$7.6 Billion in Tax Credits are Available

In September 2004, President Bush signed the $146 billion tax cut bill restoring the recently expired business Research & Experimentation Tax Credit. The 18-month renewal of the research and experimentation tax credit, which expired June 30 2004, was the most expensive item with an expected $7.6 billion cost through 2014.

Process Improvement Qualifies

If you are spending money on ISO 9000, six-sigma, lean manufacturing, TQM, or any other initiative focused on improving your products or processes, then you could qualify. This includes software purchases, training courses, labor, and of course the purchase of any Policies, Procedures and Forms products or services.

Continue reading "How to Get Money Back for Your Process and Procedures"

Why Cutting Your Prices is Like Cutting Your Own Throat


Its the oldest sales tactic in the world

And one of the worst

Price cutting.

Before you make your next price cut in the face of sales resistance, the question you have to ask yourself is not, Does it work?, but rather, Can you live with the bargain?

Heres a pop quiz: you in your role as salesperson go for the close. You ask the prospect to make a commitment and they dont. Whats your first response?

Well, if you are like most people in a selling situation whether you are the hired sales guy or the CEOyour first response to people not buyingfor whatever the reasonis to say, Would you buy if ?, and the "if" is always some variant of, ...if the price was lower?

Continue reading "Why Cutting Your Prices is Like Cutting Your Own Throat"

Debt Collecting Looking For Money

A professional debt collector often works with as many as 2,500 accounts at a time! This may seem like an overwhelming number, but with organization and strategy, coupled with an eye for distinguishing the good accounts from the bad, you can turn this into a tremendous opportunity.

You can use a computer program to separate and categorize accounts (software programs such as CUBS and Dauax are popular with collection agencies). Some computer programs let you prioritize your accounts from1 to 10, one's being your big money accounts those you've sent the debtor out to get a loan in order to pay the debt or any other accounts involving large amounts of money where follow-up is vital. Some programs have a reminder feature, which will automatically bring accounts up on your screen when it's time to hit them again. You may be able to adapt other business accounting or tracking software to some of these uses if you don't want to invest in or have no need for the quite expensive software used by professional collectors. In any event, making creative use of computer programs can make a huge difference in your success level.

Evaluate your accounts and identify those, which have the potential for an immediate payoff. Any account where the debtor has or can obtain the money owed is one that deserves your daily attention. You'll have to make a lot of contacts in order to know which ones are the plums. Each week you have the opportunity to pluck the ripest accounts if you continue to make calls, stay in touch, remind them, apply pressure or warn them of impending action.

Continue reading "Debt Collecting Looking For Money"

Five Strategies To Strengthen Your Company's Financial Management

Too many businesses wait until a crisis occurs before they start to focus on improving their financial management. Often, by that time, it can be too late. By setting aside an hour now to evaluate the strengths and weaknesses of your company's financial management activities and systems you can save a lot of time and aggravation. It can also help increase your profits, and at the end of the day that is what it is all about.

The following are five strategies that will help you start to build a strong financial foundation and build value in your company.


1. Set up a financial control system

The first thing you need to start with is a control system so that there is consistency in your process and procedures. A control system is designed to prevent and detect errors in your daily activities. For example, is there is a standard way of processing your receivables, payables and inventory? If there are no standard guidelines to follow, there is probably no control system.


2. Have daily access to your account information

Make sure that you can access your account information every day; it is invaluable to managing your cash effectively. With most banks providing internet access at a reasonable cost, there is no reason not to have instant access to account information.


Continue reading "Five Strategies To Strengthen Your Company's Financial Management"

10 Blazing Ways To Sky-Rocket Your Profits

1. Use a "P.S." at the end of your ad copy. This is were you either want to repeat a strong benefit or use a strong close like a free bonus.


2. Publish a free ebook and give it away from your web site or in your e-zine. This will increase your traffic, sales and e-zine subscribers.


3. Create multiple streams of income with your web site. You could sell your own products, join affiliate programs, sell advertising space, etc.


4. Give your visitors compliments in your ad copy. This can earn their trust and put them in a good mood, in return they will be easier to sell too.


5. Create new products or services only if there is a strong need for them. You won't have anyone to sell them to if you don't have a market.

Continue reading "10 Blazing Ways To Sky-Rocket Your Profits"

The Truth About Money!

How much money do you want? How much is enough? How much money is too much?

Money is really just a form of exchange. Here is an example. 10 people are in a room. Only one person has $1. Person #2 had a pocket knife he was willing to sell to person #1 for $1. Person #1 buys it, giving the dollar to person #2. Person #3 has a book, which person #2 wants and buys it giving the dollar to #3. Person #4 has a watch that #3 buys, so #4 got the $1. #5 has some earrings #4 bought. This goes on until finally #10 has the dollar. $10 worth of transactions took place with only $1.

The only thing that money can buy is LABOR. Well, think about this. The price you paid for your home buys nothing but labor. The labor paid for the felling of trees, reducing them to lumber, labor for making the concrete, and other materials that came from the earth.

When you buy food, you are paying for the labor that is involved for growing, cultivating, transporting the foodstuffs.

Continue reading "The Truth About Money!"

Collecting Past Due Accounts: Payment Arrangements

Not everyone can qualify for a loan or has a credit card or access to cash from family or friends. Some people are on a fixed income so there will be occasions when you may not be able to locate any assets and your only recourse will be to let the debtor make payments to you over a period of time.

But you need to be careful about how you word any payment plan you set up. Make it very clear to the debtor that the plan is nothing more than a temporary solution and is subject to review at any time. Don't send the debtor anything in writing which commits you to accepting a time payment arrangement. Make it appear, as though, with this one payment you might be able to get a 30-day extension on the account. Ask the debtor if he understands this. Accepting a partial payment can come back to haunt you the next time you call the debtor. He is "insulted"

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Rejoice in Small Affiliate Checks

Did you get ANY affiliate check this past month? Good for you! You're ahead of the pack.

Let me explain...

I am in the process of surveying my subscribers to find out what I-Marketer can do to make them more successful.

[If you want to participate, go take the 5-minute survey here: http://www.All-In-One-Business.com/5-minute ]

One of the most startling results I saw was how many people made less than $100 last month on their Internet business. In fact, a number of the respondents LOST money last month.

Ouch!

But it got me thinking: What if these people just give up? What if they just pack in the towel and say "forget it!"

Just imagine what they will be giving up:

Continue reading "Rejoice in Small Affiliate Checks"

Credit Traps Snag Consumers

Nearly 20 years ago I worked for a small consumer advocacy organization in Washington, DC. Each week we received sacks full of mail from consumers across the country requesting our list of credit cards with low interest rates and no annual fees. If you wanted a low interest rate on a credit card back then, you often had to apply to a bank in Arkansas where interest rates were capped by state law.

Those were the good old days.

Now, interest rates range from zero percent to a high 39 percent. It's tougher to find (and keep) a good credit card than ever before. That's because there are many new traps that can snag unsuspecting consumers.

At the top of the list is the "universal default clause" which allows issuers to monitor you credit report and raise your rate if you are late on any bill that appears on your credit report. One major issuer, for example, will hike a 0 percent rate to 24.99 percent if you slip up!

In fact, true "fixed rates" are rare. Many consumers don't realize that a "fixed" credit card rate isn't the same as, say, a fixed-rate mortgage. In most states, card issuers can raise the interest rate on a fixed-rate credit card with just fifteen days' written notice. The new rate can typically apply to existing balances as well as new purchases.

Continue reading "Credit Traps Snag Consumers"

5 Free Steps to Online Income

If you are new to the online business world and would like to get involved without risking any of your hard earned cash then this article will show you one way to get involved for free.

We are going to discuss ways to promote affiliate programs without your own site and without spending any money.

Best of all if you choose a program related to your interests then it won't even seem like any work is involved.

The 5 steps are aimed at promoting a product while you go about your normal daily surfing activities.

Before we get on to step 1 you need to locate and join an appropriate affiliate program.

This program ideally should be 2 tier, which means you get paid for sales made through your link as well as for the sales made by affiliates that you refer through your link.

Continue reading "5 Free Steps to Online Income"

7 Simple Steps To Profit Without Your Own Product

Most people do not succeed on the internet because they are selling products no one desperately wants.

If you want to be truly successful sell only things that people really really really want to buy!

Sounds simple? It is.

You only need to find out what people desperately want and then give it to them.

Unfortunately most people online (and offline) are ignoring this basic fundamental law to sales success.

So without further ado, just follow this 7 step system to profits even if haven't made a dime online yet....

1. Go to Ebay's 'Hot Item Forum' and find out what products and services are selling well.

2. Find a local wholesaler who sells the products or services that are selling well on Ebay who doesn't already sell on Ebay (most won't be)

Continue reading "7 Simple Steps To Profit Without Your Own Product"

The Truth About Money!

How much money do you want? How much is enough? How much money is too much?

Money is really just a form of exchange. Here is an example. 10 people are in a room. Only one person has $1. Person #2 had a pocket knife he was willing to sell to person #1 for $1. Person #1 buys it, giving the dollar to person #2. Person #3 has a book, which person #2 wants and buys it giving the dollar to #3. Person #4 has a watch that #3 buys, so #4 got the $1. #5 has some earrings #4 bought. This goes on until finally #10 has the dollar. $10 worth of transactions took place with only $1.

The only thing that money can buy is LABOR. Well, think about this. The price you paid for your home buys nothing but labor. The labor paid for the felling of trees, reducing them to lumber, labor for making the concrete, and other materials that came from the earth.

When you buy food, you are paying for the labor that is involved for growing, cultivating, transporting the foodstuffs.

Actually the Earth supplies everything we need in abundance for FREE -- trees, ore, raw materials for clothes, metals, food. We pay people to bring it to us.

Continue reading "The Truth About Money!"

Credit and Divorce

Mary and Bill recently divorced. Their divorce decree stated that Bill would pay the balances on their three joint credit card accounts. Months later, after Bill neglected to pay off these accounts, all three creditors contacted Mary for payment. She referred them to the divorce decree, insisting that she was not responsible for the accounts. The creditors correctly stated that they were not parties to the decree and that Mary was still legally responsible for paying off the couple's joint accounts. Mary later found out that the late payments appeared on her credit report.

If you've recently been through a divorce - or are contemplating one - you may want to look closely at issues involving credit. Understanding the different kinds of credit accounts opened during a marriage may help illuminate the potential benefits - and pitfalls - of each.

There are two types of credit accounts: individual and joint. You can permit authorized persons to use the account with either. When you apply for credit - whether a charge card or a mortgage loan - you'll be asked to select one type.

Individual or Joint Account

Individual Account: Your income, assets, and credit history are considered by the creditor. Whether you are married or single, you alone are responsible for paying off the debt. The account will appear on your credit report, and may appear on the credit report of any "authorized" user.

Continue reading "Credit and Divorce"

How To Turn Business Losses Into Cash Flow

When the typical new business operator starts a business, they concentrate on making the business succeed. That is necessary but not the only thing that a business operator should concentrate on. A business depends on cash flow to exist and grow, so business operators would do their business a good turn by looking at sources of cash flow provided by the Government.

We are talking about the taxation authorities such as Inland Revenue Department in New Zealand (IRD), the Australian Taxation Office in Australia (ATO) and Inland Revenue in the United Kingdom and the Inland Revenue Service in the USA (IRS). All of these taxation administrations, along with those in Canada and South Africa for example, have both income tax and goods and services tax (GST) or value added tax (VAT) that present opportunities for refunds when a business expenses exceed its income in the early stages of its life.

Initially, the start-up capital may come from savings, family and friends and salaried employment. The last source of finance C salaried income C means that the business operator still works full-time for a salary and part-time on their business. This presents particular opportunities to receive extra cash flow to fund the growth of the business C from value-added taxes and income tax refunds.

Continue reading "How To Turn Business Losses Into Cash Flow"

Credit Traps Snag Consumers

Nearly 20 years ago I worked for a small consumer advocacy organization in Washington, DC. Each week we received sacks full of mail from consumers across the country requesting our list of credit cards with low interest rates and no annual fees. If you wanted a low interest rate on a credit card back then, you often had to apply to a bank in Arkansas where interest rates were capped by state law.

Those were the good old days.

Now, interest rates range from zero percent to a high 39 percent. It's tougher to find (and keep) a good credit card than ever before. That's because there are many new traps that can snag unsuspecting consumers.

At the top of the list is the "universal default clause" which allows issuers to monitor you credit report and raise your rate if you are late on any bill that appears on your credit report. One major issuer, for example, will hike a 0 percent rate to 24.99 percent if you slip up!

In fact, true "fixed rates" are rare. Many consumers don't realize that a "fixed" credit card rate isn't the same as, say, a fixed-rate mortgage. In most states, card issuers can raise the interest rate on a fixed-rate credit card with just fifteen days' written notice. The new rate can typically apply to existing balances as well as new purchases.

Continue reading "Credit Traps Snag Consumers"

How To Turn Business Losses Into Cash Flow

When the typical new business operator starts a business, they concentrate on making the business succeed. That is necessary but not the only thing that a business operator should concentrate on. A business depends on cash flow to exist and grow, so business operators would do their business a good turn by looking at sources of cash flow provided by the Government.

We are talking about the taxation authorities such as Inland Revenue Department in New Zealand (IRD), the Australian Taxation Office in Australia (ATO) and Inland Revenue in the United Kingdom and the Inland Revenue Service in the USA (IRS). All of these taxation administrations, along with those in Canada and South Africa for example, have both income tax and goods and services tax (GST) or value added tax (VAT) that present opportunities for refunds when a business expenses exceed its income in the early stages of its life.

Initially, the start-up capital may come from savings, family and friends and salaried employment. The last source of finance C salaried income C means that the business operator still works full-time for a salary and part-time on their business. This presents particular opportunities to receive extra cash flow to fund the growth of the business C from value-added taxes and income tax refunds.

Continue reading "How To Turn Business Losses Into Cash Flow"

Ordinary product + Added value = Increased Profits!

Ok, here's the thing....

Everyone that wants to get started buying and selling (either online or offline) is trying to find that 'bargain buy' - something whose wholesale price is 50% less than the standard retail price. It is possible to find such products but they are rare and as soon as one person starts selling the item, others will jump on the bandwagon and force the price down.

The fact is that there are few items nowadays with a huge retail markup and worldwide markets such as eBay do nothing to help this situation as there are so many sellers that there is only one way for prices to go and that is down.

So instead of taking the easy option and trying to simply purchase an item at one price and sell it on to someone else for double (which involves little skill, thus anyone can do it meaning the end result is that after a very short time you won't be able to double your money because of competition), you need to try and find a way to ADD VALUE. In other words, buy a standard product and then modify/change it in some way to make it more attractive to buyers. This will enable you to make a larger profit margin and depending upon what you are doing to the product, may help reduce the level of competition you have to face.

Let me give you a couple of examples:

How about buying an ordinary, plain t-shirt (wholesale cost for t-shirts is as little as $1.80/1.00 each) and then print something on it. If you are imaginative with what you print, you may well be able to sell the 'new improved' t-shirt for $25/15. In fact, I have a friend that is doing this exact thing! He came up with a unique and original idea to print on t-shirts and now prints his own t-shirts using a home-made screen printing press (seriously, he got the instructions off the Internet and actually built a cheap press himself!) All of the t-shirts he sells are either black or blue and he only prints in white - a surprisingly simple idea but one that is proving to be fairly lucrative. Of course, it would be unfair to divulge exactly what he is printing on the t-shirts but there must be thousands of possibilities that haven't yet been thought of.

Continue reading "Ordinary product + Added value = Increased Profits!"

Business is About Making Money

Ask most people why they are in business and they will give you any number of reasons. Things such as wanting to improve the lives of others; make the world a better place; provide for their family; have more free time; the list goes on and on.

Fact is business is about making money, which means the bottom line is the bottom line. Many business owners, managers and sales people seem to forget this. If you don't have a strong bottom line you cannot continue to do business for very long. And if you can't continue to do business you cannot achieve the other primary reasons you do what you do. The way you get a sturdy bottom line is to understand some basic truths about business.

A few fundamentals to running a successful business are to know what your product or service is, who your customer is, who you are, what drives you in business, and what trends are impacting the economy and marketplace.

Many people run their business without these key ingredients. Sure, a company can survive, but is survival all you are seeking? Don't you want more? As previously mentioned, most people are in business to design a certain lifestyle for themselves and their families. Many are in business to create an experience for their customers. Still others are in business to improve the quality of their community. Unfortunately, many miss the mark by a long shot.

Continue reading "Business is About Making Money"

Where to Find a Cash Windfall of $10,000 to $1,000,000--You Never Knew You Had

There is a rather famous true story called Acres of Diamonds.

It is about a successful farmer who risks everything searching the African continent for diamonds. Ultimately he dies sick and penniless, while the new owner of his farm uncovers on his property the largest single diamond ever known to man.

Point of fact: After helping hundreds of thousands of entrepreneurs and business owners, Ill lay odds that story is true for YOU in more ways than you are currently willing to admit to yourself.

No matter where you are on the success continuum, your ability to generate tens or hundreds of thousands of dollars in immediate windfall income is well within your reach.

I know firsthand, because everyday, I am paid handsomely to do just that by my clients and associates.

Now, no one likes to be told that they are sitting on a diamond mine, especially when they dont see it for themselves. So please allow me to give you some advice which could potentially generate a cash jackpot of between $10,000 and $1,000,000 almost overnight.

Whats the secret?, you ask impatiently.

Continue reading "Where to Find a Cash Windfall of $10,000 to $1,000,000--You Never Knew You Had"

Junk Promotions are Money Pits --- Spend Wisely

Did you realize there are only three types of online promotion?... This statement may seem odd and even untrue in your mind, but I am speaking in more general terms than you might be thinking.

Let me explain.

The three types of promotion are Junk, Active and Passive promotions.


JUNK PROMOTIONS ARE MONEY PITS

Junk promotions are those that seem to produce results, but by their very nature are really only illusionary promotions.

For example, let me begin with FFA (Free For All) pages. You might find yourself subscribing to a submission program that tricks you into believing you are submitting your links to tens of thousands search engines.

According to the Open Directory website, they have only approved 1705 search engines and directories for inclusion in their database (http://dmoz.org/Computers/Internet/Searching/).

Continue reading "Junk Promotions are Money Pits --- Spend Wisely"

Increase Profits by Focusing on Your Ideal Customer

Targeting your customers is vital to your business success. Increase your profits by focusing on prospects who are likely to buy your products or services. Ask the following questions to find out who your ideal customers are and what they want:

. Who wants or needs your products or services?

. What is the age range, gender, profession, industry, income level, and education of your ideal customers?

. What are your customers' needs, wants, and concerns? What information do they want? Why do they want or need your products or services? How do they use your products and services?

. What problems do they have? What problems can you solve for them? What problems do your products or services solve?

. Are most of your customers computer literate? What computer monitor do they have? What browsers do they use? What software do they use? Do they connect to the Internet with a slow modem or a fast cable or DSL connection?

. Who will be visiting your web site? Why will they come to your site?

Continue reading "Increase Profits by Focusing on Your Ideal Customer"

Debt Collecting Q & A - #25

Q) Jim: I have trouble staying focused when I'm making a collection call. Do you have any suggestions that will help me stay on message?

A) Write the four parts of a collections call (Open, Facts, Dun, Close) on a piece of paper or white poster board. Prop it up near the phone or tape it to edge of the computer screen.

Keeping this reminder where you can easily see it while you're on the phone will help you remember where you are in the call process and serve as a continual reminder of your goal. These are tactics tried and tested by top professional collectors to keep the call moving in the desired direction. That, in turn, is vital in getting the results you want.

If you get off the subject, remember where you left off. Did you get all the facts from the debtor? If not, you can't demand payment if you don't know whether the debtor even has a job or if he is loan- worthy or have the assets necessary to pay the debt.

Continue reading "Debt Collecting Q & A - #25"

Freedom from Financial Clutter & Chaos

As I write this, I am reminded about a conversation my husband David and I
recently had about the clutter of finances and in particular, debt. Wed been
talking about our financial goals for the next year and how we wanted to spend
and save our money. We had been spending more on our wants (bad debt), than on our needs (good debt) in the past few months. I have never liked debt (a value) and when I have any, there is a great deal of mental clutter that accompanies it.

Now let me explain further what I mean about financial clutter. Financial
clutter is things like bad debt and by bad debt I mean debt that is incurred
through wants not needs. Here are some examples: buying clothes and things that you do not need on your credit cards, particularly when you cannot pay for them when your statement arrives. Generally these things have a short term feel good effect and the debt a long-term negative effect on your self-esteem. There is a direct link to our self-esteem and the debt-load we carry. This is mental clutter. It gets in the way of us feeling good about ourselves which in turn shows up negatively in our work and personal lives.

Continue reading "Freedom from Financial Clutter & Chaos"

How to Calculate ROI (Return on Investment)

ROI (Return on Investment) is probably the most important calculation one needs to make to ensure the long-term viability of their business. It is not enough to build in a profit margin on the product or service being offered. One must track with proficiency the amount of dollars being invested into attracting
sales and how much ROI those dollars put back into the business. If the investment meets too little return, a product line is doomed to fail in the long-term.


THE BASIC ROI PERCENTAGE CALCULATION

Many experts seem to agree, "calculating an accurate return on investment (ROI) is not an easy thing to do." I do not intend to give you a thorough analysis of the ROI calculation process. Calculating an accurate ROI is hard to do, but explaining the full scope of ROI calculations in less than 1000 words is far more difficult.

As such, this article is only intended to introduce you to the basic concepts behind ROI calculations. Here is a very basic equation for calculating the ROI:

ROI = [(Payback - Investment)/Investment)]*100

Continue reading "How to Calculate ROI (Return on Investment)"

How To Earn A Fortune By Giving People What They Want

In 10+ years of educating myself about topics such as personal development, marketing, sales, internet marketing, product development - I've depended ALLOT on learning from others.

In that time I could literally count on my two hands the number of products that REALLY impressed me by getting right to the point and delivering as advertised.

Tens of thousands of books, seminars, workshops, newsletters,magazines...

And less than 10 times I could think of where I've been "taught" what I wanted in a purely efficient and content-rich way.

How about you?

How much time have you wasted wading through the forest looking for a branch of knowledge in total frustration?

Like anything else, where there's a problem, there's an opportunity.

Understand what value your knowledge provides to your customers, deliver it quickly, and you can rake in the profits, make a massive difference in people's lives and set yourself aside from 90% of your competition.

So how do you improve the value of your products?

Continue reading "How To Earn A Fortune By Giving People What They Want"

Debt Collecting Q&A

Q) Are there any laws I must follow in pursuing debtors?

A) Yes. And no. If you are employed by a collection agency you are bound by the Fair Debt Collection Practices Act of 1974. This law should be available at your collections agency or you might find a copy at your library (I cover the main points of this law in my book). The law governs such things as the times during which calls can beamed, things you can and cannot say and so on. A collection agency is largely responsible for the training and education of its own collection agents.

If you are a private business you are really governed only be the unwritten laws of decent human conduct. Harassment is contacting someone with the intent to annoy. You are contacting with the intent to collect a legally incurred debt, so you are covered. Now, you obviously can't beat someone up or threaten him or her with harm but you can speak plainly and directly as someone who is owed money and so you should. Say what you wish to say and think about what would strike a nerve with the debtor. Confront him with his actions in a straightforward manner and don't worry about being thought "mean." Debtors need to hear the truth whether they likeit or not.

The thing you need to be aware of is harassment. You won't cross the line into being guilty of this if you keep your focus clear and that's collection of the debt. Don't heckle the debtor or engage him in a personal battle. Keep it on a professional level. Be aggressive and use your good sense. Stay with techniques that are strong and just and you'll be in good shape.

(End)
By Jim Finucan Tiare Publications Group

Jim Finucan is a 15-year collections veteran whose techniques have proven to double collections time aftertime. They're laid out in "Past Due A Debt Collection Manual." More info sat: http://www.tiare.com/pastdue.htm

Financial Middleman for Small Business

Small online businesses are mostly represented by home-based entrepreneurs. In this regard any payment scheme or system should meet at least two criterions:

First. It should be relatively cheap. Individuals are usually not enjoying huge investment potential in contrast with legal entities. Second. It should lead to complete automation of financial transactions as a result of lack of time or inability for the majority of entrepreneurs to hire support stuff to serve these transactions.

In short, it all comes down to the shortage of money and time. For these simple reasons, sophisticated e-commerce systems based on merchant accounts are expensive, hard to establish and support for an average entrepreneur. That is why third party payment processors that will handle all online orders on your behalf became widely popular among small businesses. They require very little effort to establish and even less effort to support. In most cases they will provide you with completely automated as well as quick and reliable for your customer way of payment.

Continue reading "Financial Middleman for Small Business"

Practical Money-Saving Tips For Small Businesses

One of the primary concerns all small businesses have is saving money. When it's time to trim the fat, most look for one giant expense to decrease or eliminate in order to stay within budget. More often than not, it doesn't work that way.

Most budgeting experts will tell you that re-evaluating your overall expenses and cutting each by just a bit will actually gain you more ground than doing without something major that you really need. Here are a few ideas of areas to look at and costs to reduce that can have a major impact on your overall profits.

1) Internet Access - Every online business owner must have access to the Web. But consider this. The market is so flooded with ISPs that you have a lot of room to dicker. Start by searching the Internet under keywords like "cheap internet access" or "discount isp" to bring up lists of possibilities. Then, do one of two things.

Continue reading "Practical Money-Saving Tips For Small Businesses"

Cash Flow Top Ten List!

Are good relationships the result of good cash flow? It certainly is easier to be nice to people when money is not a problem! However, since good cash flow can be influenced by good relationships, check out this Top Ten List of People who may or may not have influenced your cash flow by what they taught you. Did you learn the lessons?

10. The Person Who Taught You to Save

Who was the one in your family who always had a little extra when you had none? Sometimes a sibling can be the teacher of savings by always having enough money, and sharing with large interest payments!

9. The Person Who Said, "No!"

Most parents try to teach children the value of delaying gratification. Many fail because they can't wait to give! Often the "No!" lessons are taught by athletic coaches and music teachers. Who tried to teach you "No!"??


8. The Person Who Taught You, "It's Fun to Wait!"

My Dad tried to teach me the fun of waiting by taking me fishing. He also tried to teach me that it is more fun to wait until cash is in hand to make that "important purchase."

Continue reading "Cash Flow Top Ten List!"

The Real Truth About 'Net Finance... How To Start A Million-Dollar Empire On A Shoe String Budget

Splattered across the media channels in the UK lately has been a surge of Internet failure related news.

After millions of pounds/dollars have been spent in the development of an exciting new venture, a couple of years down the line the company has realised that the gold mine they thought they were sitting on wasn't really a gold mine... it was a flop. Millions wasted.

They had hundreds of employees... millions in the bank, plus enough venture capital to enable them to last a lifetime. But even with all of this support and monetary backing, they go bust and wind up in financial ruins.

So what went wrong? Is the Internet to blame?

Not likely. The good news is there's a flip side to that coin. Individuals who are starting with less than a couple of hundred bucks are grossing PERSONAL incomes of $50,000 per month or MORE. How can this be possible?

Continue reading "The Real Truth About 'Net Finance... How To Start A Million-Dollar Empire On A Shoe String Budget"

Where to Find a Cash Windfall of $10,000 to $1,000,000--You Never Knew You Had

There is a rather famous true story called Acres of Diamonds.

It is about a successful farmer who risks everything searching the African continent for diamonds. Ultimately he dies sick and penniless, while the new owner of his farm uncovers on his property the largest single diamond ever known to man.

Point of fact: After helping hundreds of thousands of entrepreneurs and business owners, Ill lay odds that story is true for YOU in more ways than you are currently willing to admit to yourself.

No matter where you are on the success continuum, your ability to generate tens or hundreds of thousands of dollars in immediate windfall income is well within your reach.

Continue reading "Where to Find a Cash Windfall of $10,000 to $1,000,000--You Never Knew You Had"

Residual Cash Flow

Perhaps the best product is one that has recurring monthly fees. This is known as residual income, and is the best income to make, because you make one sale but are paid month after month.

Would you rather make one sale for a one-time $65, or one sale for a monthly subscription at $10 per month? I would rather have the monthly subscription, because after the seventh month I will have made more than the $65 from the first sale, and the money will keep coming! It is possible that you can still be making money three years down the road from one sale.

Here is another example to show you the power of residual income: You work everyday for a company. Your paycheck is dependent upon your working. If you don't work on a given day and you are paid hourly, you will not be paid for that day. If your job is to make widgets on an assembly line, you must make those widgets to get paid.

Continue reading "Residual Cash Flow"

Making Money With Affiliate Programs

Affiliate programs have long been known as the quickest and easiest way for internet marketers to make money. There are plenty of advantages to joining affiliate programs for the sole purpose of making money online.

* Company Sponsored Website!

When you join most affiliate programs, you will be given a company issued website with your affiliate id used in the url. You do not have to worry about getting and maintaining your own website. This is very good for the html challenged internet marketer.

* You Do Not Have To Be Shakespeare!

With the affiliate programs sponsored website you will not have to write one bit of sales copy. This is a very good thing because I can not tell you how many times I have been surfing the internet and have come across some peoples personal sites with spelling and grammatical errors. Those sites are not very attractive and lead to quick exits before the potential customer has had a chance to even find out what is being sold. The bigger affiliate programs normally hire professionals to write their sales copy, which in turn lets you reap the rewards in commissions.

Continue reading "Making Money With Affiliate Programs"

Is Accounts Receivable Draining Your Cash Flow?

Making a sale is very important. But collecting the money for the sale is even more important. It does not do any good to sell a product if you don't collect your money.

In fact, you can ruin a business real fast if you neglect the all-important step of making sure you are collecting the money for what you sell.

I had the President of a national association of small business owners tell me a story about one of their members that really highlights this point.

One of their members started a service business catering to large health care institutions.

Continue reading "Is Accounts Receivable Draining Your Cash Flow?"

Resell Rights Cash Flow System

For the life of me I don't know why more people don't use this technique that could literally blow their sales through the roof.

This tip can be as complex or as simple as you want to make it. In a nutshell, one way to differentiate your product is to offer unique bonuses that no one else has. This simple technique can make the difference between you getting the sale or someone else getting the sale.

By creating your own bonuses you create more value so you could even charge more for the exact same product that others may even be giving away!

Let's say I wanted to really push sales of the Link Check Generator. Here's exactly how I would do it:

Continue reading "Resell Rights Cash Flow System"

Understanding Your Cash Flow

The single biggest reason the small business failure rates are so incredibly high today is this one simple fact: Most business owners don't really know what's going on with their most precious asset - their CASH.

Despite the fact that cash is the lifeblood of the business, the fuel that keeps the engine running, most business owners truly don't have a handle on the flow of cash into their business and the flow of cash out of their business.

The reason this problem is so widespread today is that each of us has been taught that managing the financial side of our business means having financial statements.

We have all been taught that financial statements show us the complete view of the financial side of our business.

Well, the truth is they don't.

Continue reading "Understanding Your Cash Flow"

DEBT COLLECTING Q & A Issue 19

Q) How to I stay on course during a call? Too often the person I'm talking to leads me off the path and I find it very hard to bring things back on subject.

A) A debtor who can divert a collector is pretty skilled. You can be sure it's a deliberate technique on their part and that they've done it enough times to have gotten very good at this diversion game. For a lot of them it's practically second nature.

Continue reading "DEBT COLLECTING Q & A Issue 19"

Debt Collecting By Phone

Debt collecting by phone is tough work. Not only can you not see the person, but it's easy to get caught up in their stories of why they can't pay you. Here's a tip to help you stay focused and get the money that is owed to you.

Question: How to I stay on course during a call? Too often the person I'm talking to leads me off the path and I find it very hard to bring things back on subject.

Answer: A debtor who can divert a collector is pretty skilled. You can be sure it's a deliberate technique on their part and that they've done it enough times to have gotten very good at this diversion game. For a lot of them it's practically second nature.

Continue reading "Debt Collecting By Phone"
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