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It comes down to 4 things: KNOWN You know where you are and where you are going. You know how to do what you want to do. You know when to ask for help and from whom. You know your why. Your Business Model is clear. You have policies and procedures in place that everyone […]
Bookkeeping is changing – in a big way. I was hit with that reality squarely between the eyes in the past few week. If I hadn’t been thinking so deeply about business models and customer service, I might have mistaken the incidents as the challenges of business. Take it back to the basics and what […]
When I look at the statements for my bookkeeping company every month, I’m looking for several things: Did I make a profit? In a service business, you should pretty much expect to make a profit from the get go. What’s my gross margin*? For a service business, I like to see between 40-60%. Some business […]
The new workbook is posted under the members tab. Here is a synopsis. Your Profit & Loss tells you how much money you brought in, how much you paid for expenses and how much was left. Your Balance Sheet tells you what you have or own in the business and how you paid for it. […]
Numbers tell the story of your business. They tell of struggle, triumph, of recessions, weather, shortages and realized opportunities. Numbers are a language – a very logical one and one without emotion. We don’t see an exuberant zero or an unhappy negative. They just are. We feel emotion when we see numbers because we think […]
give Originally uploaded by Tim Green aka atoach It’s become fashionable to have a cause and to let people know that when they buy with you some of that money is going towards your pet cause. This just doesn’t sit right with me. If the contribution is coming from your profits, that’s your business. […]
Pile Of Fun Originally uploaded by pocketwiley Understand that prosperity is about lifestyle not money. See the picture. Making a change starts in your head. Inform the ‘Rider’; engage the ‘Elephant’; make the Path easy. See here. Know where you are; where you want to go and have a plan to get you from here […]
Sleep Like A Baby Originally uploaded by peasap A good cash flow tool will help you sleep at night. More than anything, it’s money worries that wake up small business owners in the middle of the night. Following your passion, rather than taking a job means that your cash flow may be erratic. It’s better […]
Pond on the Water Meadows – Winchester Originally uploaded by neilalderney123 When people say to follow your passion and the money will follow, what exactly do they mean? I have friends who are passionate about their painting and living an organic lifestyle. They may not have much money, but they have a better life than […]
If you follow your passion the money will follow. In some cases this is true, but in others it isn’t. What makes the difference? People who are passionate about what they do and make a profit; put effort into making their passionate pursuit profitable. It doesn’t mean they put less effort into their passion, merely […]
