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  • Economic Perspective on Entrepreneurship

    Economic Perspective on Entrepreneurship

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    The concept of entrepreneurship is multifaceted. There are varied, diverse and somewhat contradictory sets of definitions of the term. As a way out the definitional dilemma, this article aims to explain the economic perspective on entrepreneurship.

    The economic perspective rests on certain economic variables which include innovation, risk bearing, and resource mobilization.

    Innovation/Creativity In this approach, entrepreneurs are individuals who carry out new combination of productive resources. The key ingredient, the carrying out of new combination (or innovation) distinguishes entrepreneurs from non-entrepreneurs. While new venture creation appears as the most prevalent form of entrepreneurship, there exist other forms. Entrepreneurship also involves the initiation of changes in the form of subsequent expansion in the amount of goods produced, and in existing form or structure of organisational relationships.

    In the entrepreneurship literature, some scholars have questioned the use of organization creation as criterion for entrepreneurship. It has been argued that organizations such as political parties, associations and social groups are always created by people who are not “entrepreneurs.” Interesting as it might sound, the terms entrepreneurship and entrepreneur have been adopted by varied scholars to meet the innovation and spirit of the time. This is evidenced by attempts to apply entrepreneurial thinking to contemporary team-oriented workplace strategies. Members of such groups – political parties, associations and social groups – therefore, could be called entrepreneurial teams. Besides, activities inherent in such groups have flourished in recent years, and are increasingly being described as social entrepreneurship.

    Risk Taking This is another economic variable upon which the economic perspective revolves. Risk taking distinguishes entrepreneurs from non-entrepreneurs. Generally, entrepreneurs are calculated risk takers. They bear the uncertainty in market dynamics. This notion has its critics and advocates. Entrepreneurs may not necessarily risk her own funds but risk other personal capital such as reputation and the possibility of being more gainfully employed elsewhere.

    Resource Mobilization here, entrepreneurship is reflected in alertness to perceived profit opportunities in the economy. This implies the allocation of resources in pursuit of opportunities with the entrepreneur playing the role of an opportunity identifier. This way, entrepreneurs are distinguished by their ability to identify persistent shocks or challenges (of long term opportunities) to the environment, and then to synthesize the information and take decisive actions based upon it.

    This article has conceptualized entrepreneurship based on resource mobilization, risk taking, and innovation. Beyond the above-mentioned economic variables, entrepreneurship can also be viewed based on a set of personal characteristics, motives and incentives of the actor in the entrepreneurship act. This is the psychological perspective, the subject of a future article. In addition to the psychological perspective, we shall also examine the process and small business perspectives.

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    Source by Benjamin C Atuma

    Views: 0

  • Gypsy Wanderlust Coachella Style

    Gypsy Wanderlust Coachella Style

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    The Coachella Music Festival in California is now famous for its incredible talent lineup as well as stunning fashion influence. Festivals are liberating, known for the hippie eccentricities and it’s not stuck to any one style. Anything goes, as long as you are daring enough!

    Bold self-expression, free spirit, gypsy wanderlust, no boundaries, fashion that sings along with the soul. Coachella fashion has become a household name inspiring celebrities like Vanessa Hudgens and Katy Perry. I go every year, like many gals and guys, and plan my Coachella outfits ahead of time on Pinterest.

    Obsessing over the flamboyant colorful gypsy style I am inspired by the boho style that is unique and effortlessly chic. My favorite looks for some Coachella style inspiration are the hi low dresses made from recycled saris, gorgeous printed fabric and soft silken to touch. Strapless with a ruched back they fit my curves perfectly. I have a full line up of the hi low skirts as well which I wear with tubetops, gladiator boots and chunky bracelets.

    Coachella is the start of the summer concert season and the fun boho summer style. With stars like Jay Lo and Ariana Grande rocking their looks on stage to perfection, the festival is defined by its celebrity status, the outfits are hippie chic, bohemian whimsy, and ready for Instagram selfies.

    Spring festival fashion goers experiment with just about everything, from glam dresses to just bikini halters and destroyed denim shorts. The main idea is you want to stand out as a fashinista in boho handmade clothing at Coachella. Breezy and free-spirited sheer kaftans, flowy maxi dresses in patchwork cotton, their energy is rampant and fun. The cotton fabric protects your skin from the afternoon sun and give you warmth when it’s cool at night. Floral embellished maxi caftans styled with your comfy sandals as you spend long hours standing to see your favorite artists like Ariana Grande.

    Anything goes from long gypsy skirts and loose funky hi waisted pants styled with halters and tanks to sheer kaftan dress or cover-ups with a jeweled bikini underneath. Kimono kaftans are cool with boots, styled like an Egyptian princess with lace and embroidery. Cotton tunics are comfortable paired with frayed denim shorts and are restroom-friendly as well.

    And lastly the Coachella crown, handmake yours with lovely dried flowers and add in some statement jewelry, lightweight colorful malas in turquoise and amethyst, beautiful, handmade and swinging with you to the beats of country music.

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    Source by Era Chandok

    Views: 0

  • 4 Daily Habits Of the Most Successful Entrepreneurs

    4 Daily Habits Of the Most Successful Entrepreneurs

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    Entrepreneurship is hard. It needs unswerving discipline, and confidence in yourself and your business. Lots of people lack the opportunity to enjoy it. But for the few who are determined and ready to put in the hard work, entrepreneurship is the most fulfilling job, identity and lifestyle in the world.

    Let’s look at 4 daily habits of successful entrepreneurs.

    1. They stick to a routine

    A day has 24 hours only and as an entrepreneur, time is the most valuable thing in the world. To get the maximum potential out of every day, successful entrepreneurs follow a strict schedule.

    For instance, Elon Musk, the founder and CEO of SpaceX and Tesla, schedules his whole day in five-minute blocks and he breaks up his week, where on Mondays and Thursdays he focuses on SpaceX and on Tuesdays and Wednesdays he pays attention to Tesla. He splits Fridays between both companies.

    2. They read a lot

    Most successful entrepreneurs make learning a regular daily habit. For instance, Bill Gates, Microsoft co-founder, reads 50 books a year. As an entrepreneur, you need to learn as the world is continually changing, and the most impactful entrepreneurs create their profiles by improving their knowledge.

    If your background is in design and strategy, as an entrepreneur you must have engineering and computer science knowledge to contribute meaningfully to your ventures. Examine your future goals and establish what skills and capabilities may hinder you, then start learning today to be ready for those roadblocks. For engineers and designers, that obstacle may be management, finance or project planning. Yours may surprise you!

    3. They exercise daily

    Yes, exercise keeps your body fit and the mind sharp, and it has a great impact on an entrepreneur’s long-term achievement. The reason is that it relieves stress and helps maintain a healthy work-life balance. Many successful entrepreneurs attribute their success to exercising and keeping fit. Richard Branson, the founder of Virgin Group, increases his productivity with daily exercise.

    Don’t make excuses! Fitness and mental calmness are essential for a happy lifestyle. They’re the building blocks to your productivity for days, weeks and months. Find a sport, activity, or practice suitable for you and make it habitual by being responsible.

    4. They stay positive

    As an entrepreneur, you’ll face many challenges, but what makes you succeed is a positive and creative mindset. Every day. Being able to see things from a positive dimension means you can see interesting and unique opportunities others can’t see.

    If you can’t remain positive, it’s time for a change. For instance, Steve Jobs started his mornings by repeating a simple mantra: “If today was the last day of my life, would I want to do what I’m about to do today?” If he answered this question with a “No,” then he knew it was time to make a change.

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    Source by Jon Allo

    Views: 0

  • I Miss My Separated Husband And Fear That He’s Never Coming Back

    I Miss My Separated Husband And Fear That He’s Never Coming Back

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    There are certain times in your life where it’s very easy to dread the worst case scenario. Even if you are a natural optimist, when you are faced with the reality that you dread and fear the most, you tend to allow your mind to go to unfortunate places and you almost expect the worst to happen to you.

    This is very common. Unfortunately though, your sense of dread can cause you to make desperate moves that you would not normally make, so that your worst case scenario actually becomes a self fulfilling prophecy. It’s extremely normal to expect the worst during a separation. For example, a wife might say: “my husband and I have been separated for almost six months. If you would have told me at the beginning of the separation that things would be this bad, I would not have believed you. But they are pretty darn bad. When my husband left home and declared us separated, he made it sound like it would hopefully only be a temporary thing. I don’t know if this was really his intention or if he just did this for my benefit. But the separation has been anything but temporary. My husband never calls. I ask mutual friends if he asks about me and they have to admit that he does not. He acts like I am an annoyance to him. When we first separated, I figured that he would be back in less than three months time. I never in my wildest dreams thought that this much time would go by. And I have to be honest. I now think that he is never coming back. And I miss him so much. I am generally an upbeat person, but this has brought me down so badly. It is all I can think about. In the beginning of our separation, I tried to reach out to my husband all of the time, but he was not receptive to me. I still try, but not as often because the rejection is very hard to take. Some of my friends and family tell me that I need to just accept that he is never coming back and I guess that they are right. But this is a very sad reality for me to face and I’m finding it affecting me much more than I thought it would. How do you face the reality that the separated husband you miss so much is probably never coming back?”

    I am probably not the best person to ask as, despite all evidence to the contrary, I never really accepted that my husband wasn’t coming back. But things did get so bad that at one point, it became clear that I needed to live my life. I never gave up on my husband or my marriage. And I figured that if we were going to divorce, then he would need to be the one to pursue it. I left that alone and I tried to live my life as best as I could. I forced myself to stay busy so that I would stop continuously bothering my husband and being rebuffed. I traveled a lot so that the distance made it almost impossible for me to continue on with this cycle.

    Ironically, once I forced this shift on myself, my husband became receptive again. But I like to think that I would have carried on regardless. It is true that you can not control what your husband is ultimately going to do. But you do have control over what YOU are going to do. Focusing on the negative while standing still in your own life, (while absolutely understandable,) is not the best course of action. It took me far too long to learn this.

    You deserve better than just treading water. As hard as it is to see at the time, your marriage is just one aspect of your life. You have many others. Sure, no one willingly wants to put their marriage on hold. But when you have no choice in this, it is best not to put yourself dead last on your priority list. Because in that sense, you are suffering twice. You are suffering because of what is happening with your marriage. But you are also suffering as an individual because you are basically standing still – just waiting for something that is not completely within your control.

    Sure, you can certainly paint yourself in the best light, work on yourself, address your marital issues, and take advantage of any interaction with your spouse. (These things all help tremendously and may make it so that he might eventually come back.) But you can’t control what he thinks or does. So the best course of action is to do what you can and then to focus on moving yourself forward. Doing this doesn’t mean that you have to accept that your husband is never coming back – I certainly didn’t. But it does mean that you’ve made a conscious decision to not solely focus on the negative and to prioritize yourself enough to continue to live your life — rather than putting it off and seeing it through the negative lens that the separation has brought about.

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    Source by Leslie Cane

    Views: 0

  • Become the MLM Business Master

    Become the MLM Business Master

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    You can become the MLM business master, by providing key essential skills that your prospects black in their life. One key skill that you need to survive in this business is a flexible mind. A closed mind will bring you more problems than you could face. What this means is that you won't be able to be more flexible or acceptable to new ideas. An open mind is vital to improve your business line. Later on, in this article we will talk more about having an open mind and other key skills in order to master the business.

    Master the MLM Business Mindset

    To master the MLM business mindset, you will need to understand the importance of having an open mind. Your mind should be like clay, where it is moldable as you go from day to day. This means dropping fears and other irrational states of mind and becoming one with the business. This also means accepting your flaws and faults. To improve yourself beyond measure through continuous education and focus on the benefit of your prospects. Some education is free and while others can cause a little bit but it is worth it in the long run.

    Don't fear failure in your MLM business. Mistakes will happen but you can survive if you are prepared to do with your own faults and flaws. Responsibility is another key issue to respond to when you're first in the business. This will help create a state of peace and determination As you move forward with your marketing plan. Your business ethics should be clear as you expect others to be clear and transparent as you shop at your favorite places.

    Taking a leap of faith in your MLM business

    Have faith in yourself and in your MLM business. The lack of faith in your business can cause it to crash hard and you may feel like you failed in life but that's not the case. The faith you need will grow as you see success but unfortunately you have to start out with some face time before you can see that success. Don't give up as time shows you problems and issues within your marketing. Adjust your plan and adjust your action and move forward because you never know what will work and what will fail. Life is like a bouncy ball, it goes up and it goes down but you're the one that controls that, not me not anybody else. Only you can get up in the morning make that cup of coffee have that donut or toast and get started in your business. This is why having the master mindset is important in life and that's just your MLM business. You can have success in everything you do if you're positive and focused in the right way.

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    Source by David L. Feinstein

    Views: 0

  • Healing Grief’s Mental, Emotional, Physical Anguish, Pain And Suffering

    Healing Grief’s Mental, Emotional, Physical Anguish, Pain And Suffering

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    Mental anguish can detour your healing journey indefinitely.

    Emotional pain may darken your hope.

    Physical suffering may well obstruct your healing progression.

    All three – mental, emotional, and physical miseries – often accompany an unwanted grief happening. They lead toward lack of clarity and uncertainty in your thinking about how to stop grieving and start a healing process. All three highlight your fear and doubt of overcoming your sorrow and loss. It is essential you take important steps to transform your grief and loss into healing hope. The “HOW” is a vital answer you must seek.

    “If I could tell the world just one thing

    it would be we’re all okay,

    and not to worry cause worry is wasteful

    and useless in times like these.

    I won’t be made useless.

    I won’t be idle with despair,

    I will gather myself around my faith.

    Light does the darkness most fear.”

    ~ Jewel

    The faith to heal at the time of your darkest hour is needed to move past your fear. Recognizing that impossibilities are so often temporary is essential.

    “Things are only impossible until they’re not.”

    ~ Jean-Luc Picard, character in STAR TREK: The Next Generation

    Let’s examine together beneficial solutions that provide ways you can overcome and erase fear and vagueness and meet head-on the mental anguish, emotional pain, and physical suffering caused by your grief experience. There are five solutions you should consider:

    1- Don’t Give Up Your Power

    “The most common way people give up their power is by thinking they don’t have any.”

    ~ Alice Walker

    At all cost don’t let your unique circumstance rule your emotions and hope. Take charge and rule your life from within. Your hope is a powerful empowerment. Search deep within for all the mental, emotional, and physical muscle you have. You do have your own power beyond what you temporarily believed you had when your awful grief resulted.

    “Greatness is not in where we stand,

    but in what direction we are moving.

    We must sail sometimes with the wind

    and sometimes against it –

    but sail we must,

    and not drift, nor lie at anchor.”

    ~ Oliver Wendell Holmes, Jr.

    You must focus your attention and hold a healing effort course with a relentless commitment to weather the storm of your grief, loss and sorrow.

    “No one is in control of your happiness but you; therefore, you have the power to change anything

    about yourself or your life that you want to change.”

    ~ Barbara De Angelis

    Seek your individual and unique power. You have more control than you think.

    2- Stand Up To Your Obstacles

    “Stand up to your obstacles and do something about them. You will find that they haven’t half the strength you think they have.”

    ~ Norman Vincent Peale

    Fear and discouragement can be left in the dust if you use your greatest weapon; action is your greatest weapon. Fear and hesitation must not be allowed to molder and mildew for it grows by itself. Because of your personal grief experience you may feel you have run into a thick insurmountable wall. Don’t be submissive and give up without a fight. Determine how to go through it, or climb over it, or figure out how to work around it. Begin today.

    3- Don’t Give In Until The Cows Crow

    Take a firm personal stand and follow Jonathan Huie’s suggestion:

    “I won’t give up ’til goats sing and walruses fly.”

    Think about it: You are the only one who can make yourself give up.

    “Circumstances don’t defeat you – you defeat yourself when you give up.” ~ Jonathan Lockwood Huie

    Many give up about the time success is in the near future. They give up too quickly at the last ten seconds of the game one basket away from winning the game. Perhaps you will need to modify your efforts and the way you approach your target; keep your eyes on your goal to reconcile your grief condition and don’t quit. Keep pondering and seeking for solutions that fit your unique grief and sorrow.

    “When you get into a tight place and everything goes against you, till it seems you cannot hold on a minute longer, never give up then, for that is just the place and time the tide will turn.”

    ~ Harriet Beecher Stowe

    Don’t let a temporary defeat condition last longer than it should. Giving up makes your grieving misery permanent. You’re not a product of your condition or circumstance but of the personal decisions you make. Draw deeply from the heart of your grief and loss suffering – for your sorrowful experience may be the means of personal inspiration, strength and survival.

    4- Expect Hope

    “Expect to have hope rekindled.

    Expect your prayers to be answered in wondrous ways.

    The dry seasons in life do not last.

    The spring rains will come again.”

    ~ Sarah Ban Breathnach

    Always look for hope. It is a mistake to let grief cloud and obliterate the whole blue sky of hope. Hope or the lack of optimism is purely a function of one’s attitude.

    “Life is not about waiting for the storm to pass… It’s about learning how to dance in the rain.”

    ~ Vivian Greene

    Life happens. Waiting for the grief storm in your life to pass is a mistake. Learning to dance with hope in your heart is vital to healing.

    5- Gather Your Strength

    The storms of life give you opportunity to learn. The grief storms of life provide another day – another way to learn a lesson for fighting the current challenge you face and the next battle.

    “When one door of happiness closes, another opens, but often we look so long at the closed door that we do not see the one that has been opened for us.”

    ~ Helen Keller

    Looking at closed doors stops you from seeing the open doors of healing possibilities and opportunities. Look for your unique personal door of strength. Walk through this door before it closes. Deep within is grit and fortitude untapped until you need it.

    “Look well into thyself; there is a source of strength

    which will always spring up if thou wilt always look there.”

    ~ Marcus Aurelius

    Gather solutions for the strength needed for your unique grief healing challenge. You Can! Believe this is so!

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    Source by Duane Marchant

    Views: 0

  • How Can a Relationship Coach Help Me?

    How Can a Relationship Coach Help Me?

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    A number of benefits are available from participating in guidance from a Relationship Coach. Professionals such as these can provide support, problem-solving skills, and enhanced coping strategies for issues such as depression, anxiety, relationship troubles, unresolved childhood issues, grief, stress management, body image issues and creative blocks. Many people also find that coaches can be a tremendous asset to managing personal growth, interpersonal relationships, family concerns, marriage issues, and the hassles of daily life. Coaches can provide a fresh perspective on a difficult problem or point you in the direction of a solution. The benefits you obtain from personal guidance depend on how well you use the process and put into practice what you learn.

    SOME OF THE BENEFITS AVAILABLE FROM RELATIONSHIP COACHING

    • Attaining a better understanding of yourself, your goals and values
    • Developing skills for improving your relationships
    • Finding resolution to the issues or concerns that led you to seek therapy
    • Learning new ways to cope with stress and anxiety
    • Managing anger, grief, depression, and other emotional pressures
    • Improving communications and listening skills
    • Changing old behavior patterns and developing new ones
    • Discovering new ways to solve problems in your family or marriage
    • Improving your self-esteem and boosting self-confidence

    DO I REALLY NEED COACHING? I CAN USUALLY HANDLE MY PROBLEMS.

    Everyone goes through challenging situations in life, and while you may have successfully navigated through other difficulties you’ve faced, there’s nothing wrong with seeking out extra support when you need it. In fact, coaching is for people who have enough self-awareness to realize they need a helping hand, and that is something to be admired. You are taking responsibility by accepting where you’re at in life and making a commitment to change the situation by seeking coaching. Coaching provides long-lasting benefits and support, giving you the tools you need to avoid triggers, re-direct damaging patterns, and overcome whatever challenges you face.

    WHY DO PEOPLE SEEK OUT COACHING AND HOW DO I KNOW IF IT IS RIGHT FOR ME?

    People have many different motivations for coming to others for coaching. Some may be going through a major life transition (unemployment, divorce, new job, etc.), or are not handling stressful circumstances well. Some people need assistance managing a range of other issues such as low self-esteem, depression, anxiety, addictions, relationship problems, spiritual conflicts and creative blocks. Coaching can help provide some much needed encouragement and help with skills to get them through these periods. Others may be at a point where they are ready to learn more about themselves or want to be more effective with their goals in life. In short, people seeking coaching are ready to meet the challenges in their lives and ready to make changes in their lives.

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    Source by Roxanna Teeling

    Views: 0

  • Relationships: Is Your Emotional State Controlled By Other People's Moods?

    Relationships: Is Your Emotional State Controlled By Other People's Moods?

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    As to whether or not it is a good idea for someone to go along with another person's emotional state can all depend on what state they are in. If this person is happy, embracing the same state is likely to have a positive effect on ones wellbeing.

    On the other hand, if this person is angry or even miserable, embracing this state is unlikely to do them any good. There are then going to be times when it will be a good idea for one to allow their emotional state to mimic another person's emotional state and times when it won't.

    Emotional Contagion

    However, even though this is the case, one may find that there are times when they are unable to control how they feel. Ergo, irrespective of what is going on for another person, they will end up being drawn in.

    This is not going to be a problem if another person is in a good place, but it will be if they are not. When it comes to the latter, it might be necessary for one to get away from the other person.

    A Time and A Place

    This doesn't mean that one should get away from someone if they are going through a tough time. The reason for this is that there will be times when another person won't be in a good way and it will be a good idea for them to offer their support.

    Someone in this person's life may have passed on, putting them in a very low place. Ones mood can then drop during this time, but shortly after their time together has come to an end, it should return to how it was.

    Boundaries

    Undoubtedly, having the ability to connect to another person's mood is going to have a positive effect on their relationships. At the same time, being able to maintain their state will also allow them to act like an individual.

    If they didn't have this ability, they would end up acting as though they were simply an extension of other people. Instead of being able to assert themselves, they would be at the whim of other people's moods.

    The Truth

    Just because someone else is not in a good place or is very angry, for instance, it doesn't mean that one should join them. Ultimately, there is no need for them to feel responsible for what another person is going through; that is, of course, unless they have played a part in what is going on for them.

    And if the other person takes responsibility for what they are going through, they won't expect one to act like they have played a part. This can show that the other person also has well defined boundaries.

    A Different Reality

    Not everyone is going to be able to relate to this, which means that there will be people that find it hard to maintain their emotional state around others. Thus, instead of being able to act like an individual, they can act as though they are just an extension of others.

    If they are able to maintain their emotional state, it may only be due to the fact that another person's emotional state is the same. The other person will provide them with the permission that they need in order to experience the same feelings.

    Walking On Egg Shells

    It is likely to be a challenge for them to assert themselves around others; their primary concern will be to tune into what someone else is experiencing. Deep down, they could believe that it is not safe for them to express who they are.

    So like a waiter who does their best to make sure that everyone is happy; it will ones job to make sure that other people are happy. For some reason, they will believe that they are responsible for how other people feel.

    Dysfunctional Relationships

    Some of the people in their life may lack boundaries, causing them to blame one for how they feel. But as one also lacks boundaries, they are going to just put up with this kind of behavior.

    If they are in an intimate relationship, they may find it hard to relax around their partner. Being focused on what is taking place externally will be a way for them to try to predict when their partner is going to lose their temper, making it easier for them to handle what happens.

    A Closer Look

    Doing what they can to please others is going to be what feels comfortable, yet it is going to cause them to hide their true-self. If one was to take a step back and to reflect on how long their life has been this way for, they may come to the realization that what is taking place in their adult life is a continuation of what took place during their early years.

    At this stage of their life, they may have had at least one caregiver who was emotionally unpredictable. As a result of this, they wouldn't have been able to relax into their body and to listen to their own needs; they would have had to live on edge and to focus on what was taking place externally.

    Undeveloped

    This caregiver may have blamed other people for how they felt, too, and this would have set one up to believe that they were responsible for whether or not they were happy. The care that one needed wouldn't have been provided, with them acting more like a caregiver than a child.

    Consequently, one will have poor boundaries and have a weak connection with their inner world. Developing boundaries and getting in touch with their true-self will be an essential part of their healing process.

    Awareness
    â € ‹
    If one can relate to this, and they want to transform their life, they may need to reach out for external support. This is something that can be provided by the assistance of a therapist or a healer.

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    Source by Oliver JR Cooper

    Views: 0

  • 5 Tips That Can Help You Choose A Good Family Doctor

    5 Tips That Can Help You Choose A Good Family Doctor

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    Choosing a good family doctor is not easy. You need to see a doctor who can perform the right diagnosis based on the symptoms of the patient. So, we suggest that you take your time while doing research before choosing a doctor. Given below are 5 tips that may help you make the best choice.

    1) Consider an In-Network Specialist

    If you have a health insurance policy, you may be able to avail the service of a doctor at discounted rates. Seeing these doctors won’t cost you an arm and a leg. These are in-network professionals. This type of pro can help you avoid any additional fees or surprise co-pays.

    If you don’t know any of these doctors, your insurance provider can give you a list of a few good names. Alternatively, you can check online or ask the doctor that can accept your insurance.

    2) Opt for Specialized Care

    While choosing a doctor, make sure you take into account the needs of your family. In other words, if a family member is in need of special care, your chosen doctor should be able to offer it.

    If your doctor can’t help you with this, your best bet is to look for a specialist. Typically, family care doctors can help you get in touch with a good specialist.

    3) Consider the Commute

    Often, distance is one of the most overlooked factors when opting for a doctor. Although 10 miles is not a long ride, you may not be able to spare that much time if you have a busy schedule. So, it may cause you a lot of inconveniences. Therefore, we suggest that you be practical as far as the distance is concerned.

    4) Schedule an Initial Visit

    You need to see the doctor in person before you choose them as the doctor may not have the bedside manners you want. Typically, most professionals offer a free of charge initial consultation. This discussion can help you find out if they have a good personality.

    5) Read reviews and Ask for Referrals

    Nowadays, you can read reviews on almost anything under the sun if you have access to the internet. The same goes for family medicine. It is not a factor that you have to consider, but it can help you get a deeper insight into the quality of service the doctor offers.

    For instance, talking to the referrals will help you find out if the staff is friendly. By reading reviews and talking to a few referrals, you can make a better decision.

    The Takeaway

    Looking for a good family doctor is really important. So, it’s better that you do your homework and consider all the options that your insurance provider gives you. Actually, what you need to do is look for a doctor that you can work with for a long-term. After all, your health, as well as the health of your family members, depends largely on good health care. So, make sure you consider these tips before choosing a family doctor.

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    Source by Shalini M

    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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