Why Spend More Money on your Accounting Department?

Maybe a favorite retail store suddenly comes up for sale (this is exactly what jump-started coauthor Jim's entrepreneurial career), or a friend informs them of a can't-miss opportunity, or a customer of the business they're working for now invites them to do some freelance consulting ' an invitation that turns into …

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In the midst of chaos, there is also opportunity

Therefore, if you squander the money your investors have provided, you can be pretty sure you won t get a round two when you need additional funding. Do what you want to do first, not last, as unimportant things, challenges, commitments, and your busy life tend to get in the …

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Be creative

Let not the smallest thing be done in a slipshod way. This can be investments, money, family, time, freedom, peace of mind, contentment, enjoyment, success, or owning a business that works for you. The reality is, of course, that the grass isn't always greener on the other side of the …

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Investors want profit

In addition, your car, equipment, fixtures, and company vehicles are liabilities and not assets because they don't create positive cash-flow, and actually cost money to maintain. Invite them to ball games or hunting trips with you. A mission statement is a sentence or two describing the company s function, market …

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Be undeniably good

But most people who start small businesses aren't super-affluent to begin with ' after all, one of the attractions of achieving small-business success is building your own nest egg. Branding your enterprise consists of a good deal more than simply settling on a company label. Obviously, the customers avatars that you …

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Have a realistic assessment of competitors

Only after you know the exact amount of your company equity or capital investment can you determine the return on investment you want to shoot for. It is no good Ikea selling everything in its warehouse and then surveying the empty shelves and wondering what happens next ' it has to …

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High rates of return

Liquidity ratios compare short-term assets to short-term liabilities. Often, one has to be in action in order to know the right thing to do. Because free isn't really free, a giveaway must help a business sell its core item. Profit is the company owner's reward for taking business risk.

The …

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Are your equipment rates accurate?

It is related of a Yankee book-peddler that he sold three copies of the same book to a family in one day--to the husband in the store, to the wife who was calling at a neighbor's, and to the daughter at home. That makes it more of a challenge when …

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