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  • House Call Doctor: A Leap Forward by Looking Backward

    House Call Doctor: A Leap Forward by Looking Backward

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    We can look back at many things with a smile. There's playing Johnny-on-the-Pony at the corner park, stoop ball, summer nights at Coney Island with your significant other, a great meal at a special cheap restaurant in Chinatown-but one of the most important has to do with the doctor . Remember the house call?

    Back in the day receiving a house call was the norm. No one had to trudge to the hospital emergency room or their doctor's office when they were sick. This was unheard of! All you did was make a phone call and the doctor would arrive at an agreed upon time with his or her magical black bag of medical tricks and the healing would commence. How would you like to travel back to those days, the days of the house call?

    Just think about the ease of a house call. When a person is ill the last thing they want to do is to schlep across town to see a doctor. No, we much rather be in our warm comfy bed with a cup of tea, a few slices of dry toast, and the television on. So many things have changed over the years it's time we look to the past for some modern conveniences. What type of doctor would travel to you these days?

    Well, there are some operations out there. A board-certified doctor will arrive at your home, your hotel (or your job) laden with that big black bag of medical magic to dispense medical advice and / or write a prescription. In other words they will do what it takes to nurse you back to health. And all from the comfort of your own home (hotel or job)!

    Is it easy? Sure it is. A personal visit from a board-certified doctor is awaiting you if you want one. In three easy steps you can receive a house call. Number one is to simply dial the doctor's office to explain your medical issues, needs and to arrange a convenient time for the visit. During this time your credit card number will be recorded but it will not be charged until your home visit is completed. Number two is waiting for a quick call back when you will decide if a doctor is needed or if an accredited physician's assistant will do. Number three is simply to sit back and wait for the doorbell to ring!

    It's just that easy. A house call doctor can diagnose and treat so many of the same medical problems that he does in his office. So why travel all the way to him when you can receive your own personal house call today? Some things are a no-brainer, this is one of them. If a home visit is in your budget than a home visit makes the most sense of all your options. Say goodbye to the days of spending hours in a waiting room.

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    Source by Slava Fuzayloff

    Views: 0

  • Four Types of Marketing For Small Businesses

    Four Types of Marketing For Small Businesses

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    As a small business owner, you most likely spend quite a large amount of time trying to discern new ways to gain customers. Marketing can be a fun or stressful business. They key is to understand the types of marketing.

    Instead of sending your marketing budget in many different directions, you can choose a specific type and be consistent with it. You will quickly see that your marketing budget pays off much more quickly.

    Here, you will find information on four of the main types of marketing. This way, you will be able to choose the marketing actions that will work best for your business. You will then be able to point your marketing budget in the right direction.

    1. Blanket marketing is a type that is often used by larger business. Blanket marketing means that you spend money advertising to everyone. Many people choose to do blanket marketing by advertising in magazines or newspapers. You will not really have control of who sees your advertising, but you will have the potential to reach many people.

    The downside to blanket marketing is that it can be quite expensive, and you could be wasting money marketing to people who may never become your customers at all. Blanket marketing is best for those who have plenty of funds available and who feel that they will be able to gain many customers from the plan.

    2. Targeted marketing is a method in which you choose a certain demographic and only market to them. This could mean that you advertise to everyone in a certain area. Alternatively, you could advertise to everyone in a certain age range.

    The great thing about targeted marketing is that you will have a much better chance at getting customers since you will be advertising to the types of people who would most likely become customers. The downside is that it will take a little legwork to determine who your target is and then find the right way to advertise to them.

    3. Social media marketing could be called the new kid in town since it is relatively a young concept. With this marketing, you use any one of the many popular social media sites to advertise your company. You can also use a daily blog to garner business.

    The downside to this type of marketing is that you will be sending your information out to many people who may not be interested at all. With blogs, you will have to take the time to keep the blog up to date. Otherwise, people may stop reading it.

    4. The last type of marketing is not marketing at all. There are not upsides to this. It may seem like a way to save money, but when your business fails, you will actually lose a great deal of money. It is extremely important to find marketing funds within your budget.

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    Source by Melissa B Evans

    Views: 0

  • Valentines Are Healing In So Many Ways

    Valentines Are Healing In So Many Ways

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    As a child it was loads of fun to make Valentines for each member of my class. Valentines are healing in so many ways. I felt the good feeling of making something for someone else.

    Looking back on the time, I realize now, Mom was probably just finding projects to keep me and my three sisters busy for a couple of afternoons. We cut and pasted, trimmed and folded. I loved the color pink, so it didn't surprise anyone when all my valentines had more pink on them and that I kinda 'dominated the pink crayon out of the set of crayons us sisters shared.

    Mom was careful to have us take a break with hot chocolate and marshmallows out on the porch so we didn't muss up our Valentines and, so we wouldn't get too weary before our mission was accomplished. It was an exciting time of the school year.

    Being the youngest of the four, Mom helped my valentines "just a little" so they would be presentable. We lived on a simple budget, so the one package of store bought Valentines purchased had to be shared out between us. Also bought was a box of Valentine candies and we carefully put one candy in each Valentine. I had four store Valentines and twenty-two homemade Valentines when I set out for school the morning of Valentine's Day.

    Of course, my teacher would get a store bought Valentine and I had made the biggest homemade one for her too. Then there was my two best friends, Elaine and Joanna. I had made them a homemade Valentine plus a store Valentine. I had one store Valentine left and I couldn't think of one more person to give it to. It was so special.

    My teacher had set aside the afternoon for exchanging Valentines. It was difficult for us all to think of school work when so much was going to happen that day. All morning I looked around the room to see someone who would get my last special store Valentine. I talked it over with my two friends and they made suggestions too, but the ones they suggested were more their friends and I was a "tag-along."

    Then exchange time came and the energy level of the classroom escalated to a high roar. Notes flying around the room and everyone smiling. I got twenty-four Valentines. Most my Valentines had a candy in them too, so I thought I had a pretty good trade around. Valentines are healing in so many ways and I knew I had many friends.

    Through all the excitement, I clear forgot about my last special store Valentine. As I walked from the bus to home, I remembered it. As I rounded the last corner, there was Daddy's car parked in the driveway. The love swelled inside me and I had such a good idea. I ran into the house, got the crayons and paper out.

    I made one more Valentine. A big one with lots of pink on it because I knew Mom liked pink too. That was probably where I got the idea to have it be my color. I wrote "I Love You" on the back of both Valentines. Then I gave the one store Valentine to Daddy and the homemade Valentine to Mom.

    They were so surprised and Daddy grabbed me up into his arms and told me he never had such a sweet little "Milly" in his life. I knew I was special. It was the first dawning on my little heart that I was born to my "Best Friends."

    Now I am older, I still remember the good times we had around Valentine's Day. My friends from first grade I have lost track of, but the memories of the love I felt from my parents will last forever. Valentines are healing in so many ways. Valentine's Day is one more opportunity to heal a heart by saying the three words, "I Love You."

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    Source by Milly Barlow

    Views: 0

  • How to Overcome MLM Challenges – Multi Level Marketing Tips For Success

    How to Overcome MLM Challenges – Multi Level Marketing Tips For Success

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    There are plenty of helpful tips available to help you overcome your MLM challenges. In my opinion most of the challenges we face in MLM are avoidable but only if you start off on the right path. When I am faced with a challenge in my primary opportunity its usually around developing new techniques for marketing, lack of customers, or lack of money. As business owners in the field of MLM we are faced with difficult challenges but they aren’t unlike those that any other business owner faces. We do face different challenges because of the nature of our business but if you plan for the unexpected and have a vision for the day-to-day operations of your company you’ll be able to thrive in your business.

    Every day businesses are birthed around the world within a dynamic and formidable marketplace where only the toughest survive. If you are in the network marketing industry you know that our environment is particularly fickle and can be a tough training ground for the almost 25,000 people that join Multi-level marketing business everyday in the U.S. and the 95% that fail within their first year.

    Most people join network marketing companies not recognizing the importance of having a vision for how their business will grow and function in its infancy. There is concept that many large corporations use to lead their work on a daily basis and I think that it can be particularly effective for network marketers. Its called Strategic Planning. Planning is not a new concept to business corporations but it might be to those that don’t know about its extreme effectiveness for providing a roadmap for any business for periods of 6-months, to 3 years, to 20 years.

    By understanding the importance of this process and the questions that go into taking you through it, you can gain a better sense of preparedness for your company’s growth. As someone new to this industry you need as much structure in the beginning as possible to understand how to plan and set and meet your goals. By taking the first step in this process you will exhibit your commitment to your business and your leadership for your organization.

    You have to believe in something yourself first, before you can get others to believe.– Ashraf Seddeck, Oracle Corporation.

    What does your company do?

    What product or service do you provide?

    What is your mission statement?

    What are your company’s values?

    What is your plan for your first 30 days, 6 months, 1 year?

    What are your weaknesses/strengths?

    How will you market your business?

    Who is your competition?

    What might be challenges that prevent you from reaching your goal?

    What is your plan to grow your business over the next 12 months?

    What is your plan for recruiting for your business?

    What resources do you have to build your business?

    What is your budget for your business?

    What does your organization look like and what types of people are your recruiting?

    What actions are you taking on a daily basis to build your business?

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    Source by Inger L McDowell

    Views: 0

  • 5 Steps to Move From Employee to Entrepreneur

    5 Steps to Move From Employee to Entrepreneur

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    Have you been considering quitting your day job in favor of starting a business? Have you just lost your job and are currently exploring alternative ways of earning a living? Have you always dreamt of owning your own business some day?

    Before you take the leap of faith into self-employment, consider these 5 steps:

    1. Get clear on your goals/passions – It’s not enough to decide to become a business owner. There are several questions and things to consider before you move forward in becoming a business owner. You will need to think about what kind of business you wish to run. You`ll need to determine if you wish to grow it from scratch, buy an existing business or purchase an available franchise. But even before you decide that- you should think about how the business will fit in with the rest of your life. Running a business can be a huge commitment of time and money. So ask yourself what do you enjoy doing or what will bring you joy? You will spend much of your day on your business so it’s a good idea for the business to provide work you actually enjoy doing. Ask yourself what you are most passionate about? What would you love to do? What is your dream job/business?
    2. Do your research/homework – Don’t make any rash or impulsive decisions and don’t leave your day job until you are absolutely sure of what you want to do and have a plan for doing it. Take the time to do good research by researching the industry, the marketplace, your potential target clients, your competitors. Do proper business research including a SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis. Get a good handle on projected revenues and realistic operating costs as well as an understanding on how long it will take to breakeven and generate more revenues than expenses. Identify your personal strengths and skills and determine if there are any skills gaps. Determine how you will close any skill gaps or lack of expertise. Which gaps can be closed through skills training? Which gaps can be closed through recruiting the right people? Which gaps can be closed through coaching or mentoring? Determine what options and opportunities are available to you right now?
    3. Learn from others’ mistakes – There is no shortage of people who have started or run a business. Speak to as many people as you can who have gone before you. Learn what you can about what works, what doesn’t, and what mistakes others have made. Don’t waste valuable time and money. Be open to hearing others` perspectives on what they would have done differently. Hindsight is always 20/20.
    4. Business Plan ahead – Do the work and develop a business plan. While it may be a lot of work, it will be time well spent and most financial institutions will require one if you are searching for financing. The process of business planning is not only to prove to the bank that your business will be a success, it’s also a roadmap for you to follow to ensure success. Running your business finances can be like running your weekly, monthly or yearly personal budget – so if you haven’t developed good budgeting and financial management skills, it might be particularly challenging and doubly important to have a solid business plan.
    5. Hire a mentor – Starting and running a business can be challenging or even lonely at times. In addition to the day to day operations of the business, you may be mentally or emotionally overwhelmed by being a business owner. Having a safe place to go to for advice, guidance, and accountability or simply as a sounding board can be just what you need to help you make the transition into entrepreurship easier and smoother. Good coaching and mentoring can really help you fast track your transition.

    While there are many advantages to being an entrepreneur, it`s important for you to also consider the downside of self-employment. Become a business owner armed with as much information, skills and tools you can to ensure a successful transition from employee to entrepreneur.

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    Source by Linda Cattelan

    Views: 0

  • Different Types of Direct Marketing Lists

    Different Types of Direct Marketing Lists

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    Direct marketing delivers your marketing message directly to a group consumers or businesses on a personalized level (such as a telephone call or via a personal email message). It’s a form of marketing that provides the recipient with a direct call to action. The following are the three main types of direct marketing.

    Mailing Lists

    Direct mail is one of the most common forms of direct marketing and an essential part of an integrated marketing campaign. Companies promote their products and services with a provocative mailer. Direct mail campaigns provide your prospects with a tangible piece of mail to read at their leisure. Direct mail campaigns are extremely effective and when they are personalized and customized to a specific target audience can have great response rates.

    Telemarketing Lists

    Telemarketing is the process of calling prospects on the phone to promote your products or services. This can be done using your own sales staff or by subcontracting out to a call center. Telemarketing is vital in creating brand recognition, building customer relationships, nurturing leads and of course, closing sales.

    Even with its bad reputation, telemarketing still plays an important part of any direct marketing campaign. Telemarketing is personal and interactive, and capable of providing an immediate response. As effective as telemarketing is, you need to be sensitive to your prospects’ willingness to receiving unsolicited phone calls.

    Telemarketing campaigns work best when the telemarketing lists are highly targeted, with accurate data that matches your current customer’s profiles.

    Email Lists

    Email marketing is an effective way of reaching out to new prospects or following up with existing customers. Email marketing is extremely versatile, and you can easily customize your marketing messages to various market segments, or for prospects in different stages of the sales funnel.

    Email marketing can be used to nurture customer relationships, provide company and product information, drive website traffic and to promote direct sales. The emails can be as elaborate or as simple as needed.

    Most people check their emails on a daily basis, making email a very effective marketing method for your business. However, email marketing should be used responsibly, and it is extremely important to have your customers’ consent before sending emails.

    The most successful direct marketing campaign will use a mix of marketing methods. Repetition is very important in any type of marketing efforts. The more you can get yourself out in front of prospects, the greater the chance of being remembered. Try a direct mail campaign with a telemarketing follow-up or an email blast in conjunction with a direct mail campaign. A Multi-Channel campaign also allows your prospects multiple ways to communicate back to you.

    Regardless of the method, the key aspect in any direct marketing campaign is the ability to target the marketing message to a specific audience. With properly defined target market, you can deliver your message directly to those who have a greater probability of purchasing from your business. This allows businesses of all sizes focus their marketing budget and resources where they’re most likely to get results.

    It’s very important, before starting any direct marketing campaign, that you understand the different regulations governing each method of communication. The responsibility is yours to make sure you are compliant. Legitimate list brokers and managers should be able to confirm that the lists they are providing comply to the various rules and regulations. If you are uncertain, do not hesitate to ask.

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    Source by Greg Rubin

    Views: 0

  • Wisdom For Living-Consider The Poor

    Wisdom For Living-Consider The Poor

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    Do you consider the poor? Is giving to the poor part of your budget? This is an important wisdom for living. It is a wisdom key which many believing Christians are neglecting to their own detriment. This post expounds on considering the poor as wisdom for living.

    Blessed is he who considers the poor; the Lord will deliver him in time of trouble. The Lord will preserve him and keep him alive, and he will be blessed on the earth; You will not deliver him to the will of his enemies. The Lord will strengthen him on his bed of illness; You will sustain him on his sickbed – Psalm 41:1-3 (NKJV).

    The poor are important to God. While He waits for them to learn and overcome poverty, He also would want them to be well taken care of, because He cares for them. God will not come down in person to help the poor; He will need human beings to reach out to them. So, God is ready to bless anyone who will offer himself or herself as a channel of blessing to the poor.

    Whoever considers the poor does so on behalf of the Almighty God and lends to Him, and He will repay back. Imagine when God is repaying back what He will give! You give with your little hand and God repays with His big hand! Awesome investment! Give to the poor and you will never know lack in your life.

    Giving is living. Making giving your lifestyle is to live a purposeful life; putting smiles on the faces of many people and giving them a reason to live on is what life is all about. Among many other blessings that come your way, joy unspeakable and peace of mind become your portion. This cannot be quantified. Also, you tend to keep living even when you are gone.

    In Psalm 41:1-3, the Lord stated the things He was going to do for whoever considers the poor.

    These include:

    • Deliverance in time of trouble.
    • Preservation and long life.
    • Blessings, which includes financial blessing.
    • Protection from enemies.
    • Healing and health

    All the above will be yours if you will consider the poor as a lifestyle.

    As a believing Christian, giving to the poor whatever you can: money, time, energy, food and clothing, expresses the love of Christ to them and will endear Christ to them, convicting them to surrender totally to Him. Indeed, it is a perfect way to win souls for Christ.

    Truly, considering the poor is wisdom for living. It gives you the reason to live and continuously changes your level to higher places. It gives you what money can never purchase for you; it gets the living God to be for you, your defense, provider and keeper.

    Job was a man who considered the poor and every ear that heard him blessed him and every eye that saw him approved of him. These were because he delivered the poor who cried out, the fatherless and the one who had no helper. He was eye to the blind, feet to the lame and father to the poor; and God blessed him greatly and preserved all that belonged to him (Job 29:11-16, Job 1:10). This can also be your story.

    In conclusion, are you in a state that needs to be changed or do you desire to change your level to a higher one? Consider the poor around you, reach out to them and the Lord will reach out to you too. Let God use you to bless the poor and He will cause men to bless you too.

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    Source by Ngozi Nwoke

    Views: 0

  • The Benefits Of Multi-Level Marketing

    The Benefits Of Multi-Level Marketing

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    The best MLM companies are those who embrace the many benefits that multi-level marketing has to offer. Read on to learn more about the advantages that MLM marketing can provide and how MLM leads can change your financial prognosis.

    1. Limited Risk Factor

    When we start traditional businesses, we are confronted with the possibility of losing money almost immediately. There are a number of expenses to consider and we are not always prepared to deal with them. As a result, people tend to avoid starting their own business and are scared to become entrepreneurs. Startup costs tend to serve as a strong deterrent in these instances.

    But with the best MLM companies, you are able to get started for just a few hundred dollars. MLM leads are also generated with relative ease, since MLM companies focus on selling products that are used by their prospective clients already. If you take the time to compare the level of financial investment involved in an MLM marketing plan with the investment needed to start a traditional business, you will find that the risk factor is significantly decreased.

    2. Passive Income

    MLM marketing offers people the opportunity to stop trading their time for money and allows them to begin earning a passive/residual income almost immediately. When you pay your Internet, cable, electric, gas or water bill each month, those companies are all able to enjoy a steady stream of passive income, without ever having to punch a clock. Thanks to MLM companies and MLM leads, you can also partake in this lifestyle.

    All you need to do is put in the initial effort to draw in the customers and the rest will simply take care of itself. A lot of us are too used to the level of certainty that is derived from trading a predetermined amount of time for a predetermined amount of money and we avoid the lure of MLM marketing as a result. But selling products for the best MLM companies allows us to snatch a far greater piece of the income pie.

    3. Low Overhead

    If you decide to start a traditional business, your overhead costs can be cumbersome. There are employees to pay, space to rent and inventory costs to be considered. With MLM marketing, you can harness the awesome power of the Internet to keep your costs low and ensure that you remain within your budget.

    MLM companies tend to get a bad rap, because people falsely believe that they will have to purchase a large amount of inventory during the early stages and recruit people to sell it on their behalf. Thanks to the Internet, this perception is no longer reality. When you do not have to keep up with a high monthly overhead, it is much easier to adapt to changing business climates.

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    Source by Roby Mason

    Views: 0

  • Small Business Owners: Accounting Is for Profit Planning, Not Just Tax Preparation

    Small Business Owners: Accounting Is for Profit Planning, Not Just Tax Preparation

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    One might be led to believe that profit is the main objective in a business but in reality it is the cash flowing in and out of a business which keeps the doors open. The concept of profit is somewhat narrow and only looks at expenses and income at a certain point in time. Cash flow, on the other hand, is more dynamic in the sense that it is concerned with the movement of money in and out of a business. It is concerned with the time at which the movement of the money takes place. Profits do not necessarily coincide with their associated cash inflows and outflows. The net result is that cash receipts often lag cash payments and while profits may be reported, the business may experience a short-term cash shortage. For this reason, it is essential to forecast cash flows as well as project likely profits. In these terms, it is important to know how to convert your accrual profit to your cash flow profit. You need to be able to maintain enough cash on hand to run the business, but not so much as to forfeit possible earnings from other uses.

    Why accounting is needed

    Help you to operate better as a business owner

    1. Make timely decisions

      • Know when to hire a team of employees
      • Know how to price your products
      • Know how to label your expense items
      • Helps you to determine whether to expand or not
      • Helps with operations projected costs
    2. Stop Fraud and Theft

      • Control the biggest problem is internal theft
      • Reconcile your books and inventory control of equipment
    3. Raising Capital (help you to explain financials to stakeholders)

      • Loans
      • Investors

    What are the Best Practices in Accounting for Small Businesses to address your common ‘pain points’?

    1. Hire or consult with CPA or accountant

      1. What is the best way and how often to contact
      2. What experience do you have in my industry?
      3. Identify what is my break-even point?
      4. Can the accountant assess the overall value of my business
      5. Can you help me grow my business with profit planning techniques
      6. How can you help me to prepare for tax season
      7. What are some special considerations for my particular industry?

    To succeed, your company must be profitable. All your business objectives boil down to this one simple fact. But turning a profit is easier said than done. In order to boost your bottom line, you need to know what’s going on financially at all times. You also need to be committed to tracking and understanding your KPIs.

    What are the common Profitability Metrics to Track in Business — key performance indicators (KPI)

    Whether you decide to hire an expert or do it yourself, there are some metrics that you should absolutely need to keep tabs on at all times:

    • Outstanding Accounts Payable: Outstanding accounts payable (A/P) shows the balance of cash you currently owe to your suppliers.
    • Average Cash Burn: Average cash burn is the rate at which your business’ cash balance is going down on average each month over a specified time period. A negative burn is a good sign because it indicates your business is generating cash and growing its cash reserves.
    • Cash Runaway: If your business is operating at a loss, cash runway helps you estimate how many months you can continue before your business exhausts its cash reserves. Similar to your cash burn, a negative runway is a good sign that your business is growing its cash reserves.
    • Gross Margin: Gross margin is a percentage that demonstrates the total revenue of your business after subtracting the costs associated with creating and selling your business’ products. It is a helpful metric to identify how your revenue compares to your costs, allowing you to make changes accordingly.
    • Customer Acquisition Cost: By knowing how much you spend on average to acquire a new customer, you can tell exactly how many customers you need to generate a profit.
    • Customer Lifetime Value: You need to know your LTV so that you can predict your future revenues and estimate the total number of customers you need to grow your profits.
    • Break-Even Point:How much do I need to generate in sales for my company to make a profit?Knowing this number will show you what you need to do to turn a profit (e.g., acquire more customers, increase prices, or lower operating expenses).
    • Net Profit: This is the single most important number you need to know for your business to be a financial success. If you aren’t making a profit, your company isn’t going to survive for long.
    • Total revenues comparison with last year/last month. By tracking and comparing your total revenues over time, you’ll be able to make sound business decisions and set better financial goals.
    • Average revenue per employee. It’s important to know this number so that you can set realistic productivity goals and recognize ways to streamline your business operations.

    The following checklist lays out a recommended timeline to take care of the accounting functions that will keep you attuned to the operations of your business and streamline your tax preparation. The accuracy and timeliness of the numbers entered will affect the key performance indicators that drive business decisions that need to be made, on a daily, monthly and annual basis towards profits.

    Daily Accounting Tasks

    1. Review your daily Cash flow position so you don’t ‘grow broke’.

    Since cash is the fuel for your business, you never want to be running near empty. Start your day by checking how much cash you have on hand.

    Weekly Accounting Tasks

    2. Record Transactions

    Record each transaction (billing customers, receiving cash from customers, paying vendors, etc.) in the proper account daily or weekly, depending on volume. Although recording transactions manually or in Excel sheets is acceptable, it is probably easier to use accounting software like QuickBooks. The benefits and control far outweigh the cost.

    3. Document and File Receipts

    Keep copies of all invoices sent, all cash receipts (cash, check and credit card deposits) and all cash payments (cash, check, credit card statements, etc.).

    Start a vendors file, sorted alphabetically, (Sears under “S”, CVS under “C,”etc.) for easy access. Create a payroll file sorted by payroll date and a bank statement file sorted by month. A common habit is to toss all paper receipts into a box and try to decipher them at tax time, but unless you have a small volume of transactions, it’s better to have separate files for assorted receipts kept organized as they come in. Many accounting software systems let you scan paper receipts and avoid physical files altogether

    4. Review Unpaid Bills from Vendors

    Every business should have an “unpaid vendors” folder. Keep a record of each of your vendors that includes billing dates, amounts due and payment due date. If vendors offer discounts for early payment, you may want to take advantage of that if you have the cash available.

    5. Pay Vendors, Sign Checks

    Track your accounts payable and have funds earmarked to pay your suppliers on time to avoid any late fees and maintain favorable relationships with them. If you are able to extend payment dates to net 60 or net 90, the better. Whether you make payments online or drop a check in the mail, keep copies of invoices sent and received using accounting software.

    6. Prepare and Send Invoices

    Be sure to include payment terms. Most invoices are due within 30 days, noted as “Net 30” at the bottom of your invoice. Without a due date, you will have more trouble forecasting revenue for the month. To make sure you get paid on time, always use an invoice form that contains the right details such as payment terms, itemized charges, and your payment address.

    7. Review Projected Cash Flow

    Managing your cash flow is critical, especially in the first year of your business. Forecasting how much cash you will need in the coming weeks/months will help you reserve enough money to pay bills, including your employees and suppliers. Plus, you can make more informed business decisions about how to spend it.

    All you need is a simple statement showing your current cash position, expected cash receipts during the next week/month and expected cash payments during the next week/month.

    8. Executive Dashboard (weekly review)

    This dashboard gives you a ‘snapshot’ of your operations on a weekly basis.

    It consist of Cash on Hand, Cash burn rate, Account Receivables, Accounts Payable, Items sold, Inventory on Hand, inventory turns, outstanding issues in the business, and gross profit margin, new sales wins, customer losses, customer service performance, on time delivery rate and product quality performance.

    Monthly Accounting Tasks

    9. Balance Your Business Checkbook

    Just as you reconcile your personal checking account, you need to know that your cash business transaction entries are accurate each month and that you are working with the correct cash position. Reconciling your cash makes it easier to discover and correct any errors or omissions-by you or by the bank-in time to correct them.

    10. Review Past-Due (“Aged”) Receivables

    Be sure to include an “aging” column to separate “open invoices” with the number of days a bill is past due. This gives you a quick view of outstanding customer payments. The beginning of the month is a good time to send out overdue reminder statements to customers, clients and anyone else who owes you money.

    At the end of your fiscal year, you will be looking at this account again to determine what receivables you will need to send to collections or write off for a deduction

    11. Analyze Inventory Status

    If you have inventory, set aside time to reorder products that sell quickly and identify others that are moving slowly and may have to be marked down or, ultimately, written off. By checking regularly (and comparing to prior months’ numbers), it’s easier to make adjustments so you are neither short nor overloaded.

    12. Process or Review Payroll and Approve Tax Payments

    While you have an established schedule to pay your employees (usually semi-monthly), you need to meet payroll tax requirements based on federal, state and local laws at different times, so be sure to withhold, report and deposit the applicable income tax, social security, Medicare and disability taxes to the appropriate agencies on the required dates.

    Review the payroll summary before payments are disbursed to avoid having to make corrections during the next payroll period. A payroll service provider can do all this to save you time and ensure accuracy at a reasonable cost.

    13. Review Actual Profit and Loss vs. Budget and vs. Prior Years

    Each month, take the time to review your budgeted expenses and compare them to what you have actually spent. Are you spending above or below budget? Discuss the variances and take action as needed

    Your profit and loss statement (also known as an income statement), both for the current month and year to date, tells you how much you earned and how much you spent. Measure it against your budget every month (or quarter). Comparing your actual numbers to your planned numbers highlights where you may be spending too much or not enough, so that you can make changes.

    If you have not prepared a budget, compare your current year-to-date P&L with the same prior-period year-to-date P&L to identify variances and make adjustments.

    14. Review Month-End Balance Sheet vs. Prior Period

    By comparing your balance sheet at one date-June 30, 2015, for example-to a balance sheet from an earlier date (December 31, 2014), you get a picture of how you are managing assets and liabilities. The key is to look for what is significantly up and/or down and understand why. For example, if your accounts receivable are up, is it due to increased recent sales or because of slower payments from customers?

    Quarterly Accounting Tasks

    15. Prepare/Review Revised Annual P&L Estimate

    It’s time to evaluate how much money you are actually making, whether your net assets are going up or down, the difference between revenues and expenses, what caused those changes, how you are spending profits, as well as identifying trouble spots, and making adjustments to improve sales and margins.

    16. Review Quarterly Payroll Reports and Make Payments

    You have been reviewing your semi-monthly payroll reports. However, the IRS and most states require quarterly payroll reports and any remaining quarterly payments. Again, it’s best if your payroll service provider completes these reports and files them. Your job is to review to make sure they appear reasonable.

    17. Review Sales Tax and Make Quarterly Payments

    If your company operates in a state that requires sales tax, make sure you comply to avoid serious penalties. The U.S. Small Business Administration (SBA) can help you determine your state tax obligations.

    18. Compute Estimated Income Tax and Make Payment

    The IRS and states that have income taxes require you to pay estimated income taxes. Review your year-to-date P&L to see if you owe any estimated taxes for that quarter. Your tax accountant can assist if necessary.

    Annual Accounting Tasks

    19. Review Past-Due Receivables

    Now it’s time to check significant past due receivables and decide whether you think customers will eventually pay, whether to send past due bills to a collection agency or whether to write them off for a deduction.

    20. Review Your Inventory

    Review your current inventory to determine the value of items not sold. Any write-down of inventory translates to a deduction on your year-end taxes. If you do not write down unsellable inventory, you are overstating your inventory balance and paying additional taxes that you don’t owe.

    21. Fill out IRS Forms W-2 and 1099-MISC

    The IRS has a January 31 deadline that requires you to report the annual earnings of your full-time employees (W-2s) and most independent contractors (1099s). This deadline includes mailing copies of the tax forms to the people who worked for you. Note: A 1099 form is not required for any contractors who earned less than $600. Consider saving time and avoiding errors with an e-filing service.

    22. Review full-year financial reports for tax reporting

    • Get organized

      • Collect and store important documents (use apps and calendars for help)

        • Create email folders to store bank statement and receipts
        • Store contracts and agreements
        • Track miles and vehicle expenses
        • Store all required documents for your business type.


      • Tax Preparation

        • Tax preparation is a historical view and not a profit planning event
        • Capture all relevant events
        • Identify all deduction categories
        • Capture all meals

          • Meetings —-whatever was discussed/calendar

            • Try not to go over industry average industry cost for meals.

    At tax time, carefully review your company’s full-year financial reports before giving them to your accountant. Before you sign your return, be sure to review it for accuracy based on your full-year financial reports. Remember if IRS audits due to underpayment, they will deal with you not your accountant for any additional taxes, penalty and interest.

    If you don’t have the bandwidth to do all this yourself, a great strategy is to partner with a monthly accounting service. Outsourcing your accounting to an expert will simplify your life and give you more time to focus on running your business operations.

    A monthly accountant will provide you with a profit and loss sheet, balance statement, and accurate account reconciliation every month, ensuring that you have the financial information you need to make the best choices for your company.

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    Source by Vinson Primas

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  • Tips to Style Watches With Outfits

    Tips to Style Watches With Outfits

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    If you want to stand out and look stylish, it is important to select the right watch to match. There are so many options available, but the only factors that will limit you are taste and budget. If you do not know anything about watches, choosing the best can be quite overwhelming. Sometimes you may make a choice based on the function while at others style will dictate your choice. Some of the decisions that you will have to make in the selection process include:

    • One or multiple watches?

    If you are planning to buy a watch that you can wear anywhere, it has to be neutral stylistically speaking. This means that it will be so much easier to pair it with almost any color and wear it at all levels of formality.

    If your budget allows you to own more than one watch, then the options kind of open up a bit more. You can choose a sleek option and an understated one when you want to be formal. A shiny and broad one can be a great conversation piece. If you want one watch, you have to be restrained and it should be plain. Also, note that a black leather watch does not pair well with leather shoes that are brown in color. However, you notice that there are some leather watches that can use interchangeable bands.

    • Leather strap or metal band?

    Metal bands are neutral. The only thing you have to consider with this kind of strap is the color of your belt buckle and your cuff links. Men do not wear lots of metal and this makes a metal strap one of the best options.

    As for leather, it has to be matched with your belt and shoes, especially if they are made of leather. Leather looks quite simple compared to metal. Plain black leather is perfect for formal situations. Leather gives that comfortable attitude and this makes it approachable.

    • Case and dial style

    The visible face of a watch is what we call the dial while the case is that which encloses the movement and the dial. Normally, cases are metal or plastic made. Apart from uses in outside sports or utility, it is not reasonable to own a plastic or rubber watch, especially for a man. You need to choose the kind of case that you want and there are so many options available. The dials also come in many colors. Some are very simple and plain and it is usually deliberate. Black dial with a metal case is quite common with men. When a watch has more contrast, then it becomes even more noticeable. This means it will be less formal. Plain colors are perfect for business dress code. The shape of the dial and the case are aesthetic in nature. There are different shapes that you can choose from.

    Buying a watch has a lot to do with your own taste. You should remember that not many watches will match with all outfits. So as to do this, you may need to invest in two watches. The metal bands happen to be much easier to match even though leather appears a bit dressier and natural.

    So as to appear stylish, you need to match the metals and leather. Also, note that the watch movements speak volumes about your status.

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    Source by Shalini M

    Views: 0