Interpreting the Numbers for Better Decision Making

Entrepreneurs do not love risk and express this dislike by devoting energy and brain power in determining risk and then deciding whether to proceed or not. Before they would abort, the smart Entrepreneurs would first look to minimize or eliminate the risk by Partnering, Sharing, Mitigating, Testing, etc. Analyzing the numbers can be a vital tool in this decision making process. Numbers are very precise and often can point one to the right decision. However, there are many other variables in play that make decisions very subjective and soft. The…

Tips on Preparing Your Accounts for Tax Preparation Services

The season when you have to file your returns is probably one of the toughest times in the world, especially for businesses and organizations. But nothing can ever beat the wild ride that comes along with it, especially the part when tax preparation begins. It is always a huge burden for any business entity, a company or an organization to have their financial transactions collated, compiled and assessed in order to file returns required for their business to sustain its existence. These heads and leaders know that when they don't…

Mind Your Business – Choosing the Right Entity Structure

First, let's start by briefly defining each of the four major entity structures: Sole Proprietorship (SP): SP's is a business entity structured for a self-employed individual who operates a trade or business where all the tax consequences fall to that proprietor, including all debts, profits, liabilities, and losses. Partnerships (P): P's is a business structure, such as an association or organization consisting of two or more individuals who conduct business together. Not only is the ownership allocated according to their contract terms but also the profits and losses. The partnership…

5 Guerrilla Marketing Tactics to Promote the Launch of Your New Business

For the entrepreneur without a big marketing budget, there are many ways to spread the word about your new business. All it takes is a bit of creative thinking and hanging out in the places where you are most likely to find your target market. That means using every opportunity – from your kid’s baseball game to your niece’s wedding – to subtly work your marketing message into each conversation. But it’s not just in-person contacts that qualify for guerrilla marketing methods; you can use internet, print and other media…

The Lure And The Danger Of Frenetic Activity

I was reminded of the seduction of frantic activity when it all came to a screaming halt about 4 days ago Although I had been complaining about the fact that I had no time to organize, set up systems, train our new staff and several other “trivial details”; when the free time arrived, I became almost despondent. And I knew I had to figure out just why that was. As usual, the answers came to me during one of the daily hikes I take in the high desert mountains behind…

Patent Trolls – The Harm They Do To Our Economy?

Under the bridge there lived a great ugly troll, with eyes as big as saucers, and a nose as long as a poker. In the Scandinavian folktale the troll threatens to eat the Billy Goats Gruff, but is finally beaten and thrown off a cliff to his death. The troll is a supernatural being in Scandinavian folklore who is a constant danger to humans. But there is another troll who is not a fictional character – the patent troll, who preys upon American patent owners by threatening to bring legal…

17 Tools for Improving Your Website (and for Spying on Your Competitors)

Every wonder why your competitor's site (s) seems to be taking off and yours appears to be just holding on? Every wonder what they are doing right and what you are doing wrong? It takes awareness and honesty to access your marketing efforts; It takes education to be able to act upon the information you have learned about why your site is not doing as well as your competitor's. To this end, there are several sites that can educate you (some for free) as to what you may do that…

Business Ownership

The 40/40 plan and why it doesn't work! We've all been told time and time again, “go to school, get a good education so you can get a good, safe, secure job”. That may have worked over 30 years ago, but if you're at all savvy to any of technological changes over the last 3 decades, you are certainly aware that this is no longer the case. With our current economy you have probably felt the sting of layoffs or companies shutting their doors due to the rising costs of…

What Are the Problems You’ll Face When You File Inaccurate Returns?

These days, the government has a set of rules and guidelines that must be followed in filing your returns. In doing so, you are expected to conform and deliver honest and accurate reports and data. While you don't intend to fool anyone and it may just be an honest mistake, you still can't get pass through the ire of scrutiny once the bureau discovered you submitted inaccurate returns. This can get you to a lot of trouble. Many amateurs in the business may not know about the risks they've been…

Ten Easy To Avoid Mistakes In Business

This may seem ridiculously simple. And it is. Business owners are usually the hardest on themselves. It can be the actions or inactions or a habit good or bad. And sometimes it's the mindset. But transformation all starts with awareness. And ten things that can make your business harder than it needs to be. Apply where applicable. 1 – No Clear vision The thing to remember is to make sure you take some time away from your business to get clear on your vision. You don't want to get caught…