Why are you wanting to go to work? Is it something you love, or feel it is the only thing you can do? Have you ever wanted a new car? After you have decided that a new car is what you want, then your brain goes to work on how to get it. Your subconscious is busy behind the scences so that you can get that car.
I would imagine this sounds just like the law of attraction, CANI - Constant and Never ending Improvement (by Anthony Robbins), and I believe they work. When you are concentrating on something and then let it go, your mind continues to work on it.
So how does this help in business. I was involved with a company many years back that wanted to sell to the conglomerates that were starting to monopolize the industry. The Owner had no knowledge of how to get in front of one of these conglomerates, since his company was small and he really didn't do any networking. He decided to join an industry association and then start talking to some of the members. He found that he could be part of a group that would meet and discuss their businesses over a long weekend. These companies, although in the same industry, did not compete in the same geographical area.
By attending these meetings for a little over a year, he was able to change some of the procedures that were happening inside his company and increase his profit margin. He also was able to find out who to talk to at the conglomerates, since some of the other members were being approached during that time.
He eventually was able to meet with several conglomerates, explain how his company worked, what procedures and policies were in place, and the work under contract. His company was audited and the company was sold.
It took about 2 years to accomplish this thought, but with his mind giving the suggestions, he was able to act upon them, and succeed in his goal.
If you want more on this subject, be sure to read Think and Grow Rich by Napoleon Hill. Also be sure to visit our website http://rcmorganize.com/ for more about the company. Also you can sign up for the free Cash is King report on the right opt-in fields and receive monthly cash flow tips. These are designed for what is happening now and you can put to work immediately in your company.
Wednesday, March 18, 2009
Tuesday, March 17, 2009
Why spend your time on AIG?
As the news continues about AIG and how upset the President is, wasn't he part of the decision that our country had to act fast to get the money to them so they didn't collapse. Maybe they forgot their fiduciary responsibility (President and AIG Board members) for being in such a position at AIG. I didn't hear that any Board Member resigned because they couldn't make a profit, or didn't know when to cut expenses in order to keep the company going. We as citizens found out when they needed 80 billion dollars.
If we continue to focus on AIG, we as a nation will suffer. There is an abundance of good things happening in the United States and probably around the world, but the news media does not focus on that. Hopefully, you can escape the news and focus on your abundance and enjoy the journey of life. We all have what it takes to grow and produce ideas. We are stiffled by the news media who just wants to hear themselves talk.
So although the BIG WHY is about Why do you want something, sometimes you have to just stop asking WHY about what doesn't propel you to your goals. If you have enough reasons you will get the answers. Do not let your mind concentrate on WHY AIG, or any other WHY that you cannot control. Ask WHY do I want to create the next Blockbuster? WHY do I want to create the next life saving drug? WHY do I want to share my good fortune with others in need?
ASK WHY and you will produce a better reason for your control of your situation.
If we continue to focus on AIG, we as a nation will suffer. There is an abundance of good things happening in the United States and probably around the world, but the news media does not focus on that. Hopefully, you can escape the news and focus on your abundance and enjoy the journey of life. We all have what it takes to grow and produce ideas. We are stiffled by the news media who just wants to hear themselves talk.
So although the BIG WHY is about Why do you want something, sometimes you have to just stop asking WHY about what doesn't propel you to your goals. If you have enough reasons you will get the answers. Do not let your mind concentrate on WHY AIG, or any other WHY that you cannot control. Ask WHY do I want to create the next Blockbuster? WHY do I want to create the next life saving drug? WHY do I want to share my good fortune with others in need?
ASK WHY and you will produce a better reason for your control of your situation.
Monday, March 16, 2009
The BIG WHY
After the board of directors and shareholders meetings, there should be some new goals for the next year already created. If your Shareholders meeting didn't occur until 6 months after your year end, you should be able to track your progress.
If you did not make a checklist and put some timelines and assign people to get involved with them, you probably are not very far in achieving them. This will have a tendency to discourage you. You need to have a purpose on what you are trying to achieve. The big WHY question.
WHY are you doing what you are doing?? WHY do you want to achieve those goals that were set a while ago?? WHY do you feel it is necessary to complete them, or even work on them?? WHY??
We will discuss this during the week, on WHY you are doing it, and HOW it can be done.
If you did not make a checklist and put some timelines and assign people to get involved with them, you probably are not very far in achieving them. This will have a tendency to discourage you. You need to have a purpose on what you are trying to achieve. The big WHY question.
WHY are you doing what you are doing?? WHY do you want to achieve those goals that were set a while ago?? WHY do you feel it is necessary to complete them, or even work on them?? WHY??
We will discuss this during the week, on WHY you are doing it, and HOW it can be done.
Friday, March 13, 2009
The 5th item in a Shareholders Meeting
As a Shareholder of a private corporation, you may in certain jurisdictions, decide by way of a resolution not to appoint an auditor. The resolution remains valid until the next annual meeting. The Auditor would be a chartered accountant and is not a director or officer of the corporation.
3 reasons why you need an Auditor.
1. If you want to do business in other states. You generally have to send in an audited statement with your application to work in that state.
2. If you want to sell your business and are looking for potential buyers. The audited statement avoids any clouds of doubt on how well you ran your business. Also questions that potential buyers may have can be deflected to the Auditor.
3. If you want to apply for a loan, or venture capital. Having an audited statement shows that you are willing to be subjected to others asking for paper trails, asking clients and vendors about their balances, reviewing your lawsuits, if any, checking your reconciliations, etc.
A corporation can invite their corporate attorney to be present at the meetings. If the corporation has dissension among its shareholders, this would be a good idea.
Hopefully, after reading the last 5 days worth of blogs, your corporation will have a successful and meaningful next annual meeting.
3 reasons why you need an Auditor.
1. If you want to do business in other states. You generally have to send in an audited statement with your application to work in that state.
2. If you want to sell your business and are looking for potential buyers. The audited statement avoids any clouds of doubt on how well you ran your business. Also questions that potential buyers may have can be deflected to the Auditor.
3. If you want to apply for a loan, or venture capital. Having an audited statement shows that you are willing to be subjected to others asking for paper trails, asking clients and vendors about their balances, reviewing your lawsuits, if any, checking your reconciliations, etc.
A corporation can invite their corporate attorney to be present at the meetings. If the corporation has dissension among its shareholders, this would be a good idea.
Hopefully, after reading the last 5 days worth of blogs, your corporation will have a successful and meaningful next annual meeting.
Thursday, March 12, 2009
Ratify all acts done by Directors and Officers
Wow, what a statement for an annual meeting. If you are a shareholder and have no idea what went on in a company during the past year, it would be hard to ratify some event that has already taken place. In order to keep up with the company that you are a shareholder, but do not have every access to, here are 5 ways to help you stay in contact.
1. Ask for quarterly reports in a letter, preferrably certified, return receipt. That way you can at least see the revenue, expenses and how the balance sheet has changed and how cash flow has been handled.
2. Request in writing copies of any resolutions as they are written and signed off by the directors of the company.
3. Request that you be copied on all emails, or correspondence relating to legal matters of the company, in which as a shareholder would affect the value of those shares.
4. If there are any loan documents that you signed as guarantee, make sure you send a letter to the bank requesting that all copies of correspondence be sent to your home address. This way you can keep informed of how the loan is being handled. Also - request from the company any Shareholder loans to the company, and a copy of the terms be sent to your home.
5. Request in writing that all major events - purchases, acquisitions, contracts be copied and mailed to your home address, so you can keep up with how it is being applied to the overall health of the company.
In this way, you can have a better understanding of what is happening to your investment, if you are not a daily participant.
If you have any other ways to keep a handle on your investments, please comment.
1. Ask for quarterly reports in a letter, preferrably certified, return receipt. That way you can at least see the revenue, expenses and how the balance sheet has changed and how cash flow has been handled.
2. Request in writing copies of any resolutions as they are written and signed off by the directors of the company.
3. Request that you be copied on all emails, or correspondence relating to legal matters of the company, in which as a shareholder would affect the value of those shares.
4. If there are any loan documents that you signed as guarantee, make sure you send a letter to the bank requesting that all copies of correspondence be sent to your home address. This way you can keep informed of how the loan is being handled. Also - request from the company any Shareholder loans to the company, and a copy of the terms be sent to your home.
5. Request in writing that all major events - purchases, acquisitions, contracts be copied and mailed to your home address, so you can keep up with how it is being applied to the overall health of the company.
In this way, you can have a better understanding of what is happening to your investment, if you are not a daily participant.
If you have any other ways to keep a handle on your investments, please comment.
Wednesday, March 11, 2009
Electing Directors
The third segment of an annual meeting is to elect Directors for the coming year term. The term would be one year from the date of the Shareholders meeting. Directors are just that. They direct the company. They have skills that many Officers do not have, due to the Officers are doing the daily grind of the business. Directors are taking a birds eye view of the company, its industry, its competition, and its ability to merge with another company if the situation becomes apparent. Directors of a company can be compared to directors of movie films. They are there watching what is going on, from a third party perspective, so they are able to see the results differently than the Officers and employees.
Directors are the Captain of the ship. They are looking ahead of the front of the ship to beyond the horizon. They keep up with the industry and what is happening globally, so they can change the way the company is running, if it is not in its best interest. Officers may or may not be directors. In a non public company, they can assume the duty of both, an Officer and a Director. Unfortunately, this does not give the company leverage with its shareholders. It is more of the same mentality. It is very difficult for an Officer to be able to see past the problems at hand, and forecast and plan for the future.
You will need to appoint Directors that are not in a conflict of interest to the company. You will not be able to pick your accountant, your spouse, your lawyer. You will need to find people who can be objective when it comes to how the business should direct itself. People you work closely with, may not have the company’s best interest at heart.
Directors will direct the business during the next year, checking corporate state and federal tax returns, monthly financials, stock issuance, loans, pension or profit sharing plans, bonus’, acquisitions, or purchases. As a Shareholder you do not have control over that unless you give up your Shareholder status and request a buyout.
Directors are the Captain of the ship. They are looking ahead of the front of the ship to beyond the horizon. They keep up with the industry and what is happening globally, so they can change the way the company is running, if it is not in its best interest. Officers may or may not be directors. In a non public company, they can assume the duty of both, an Officer and a Director. Unfortunately, this does not give the company leverage with its shareholders. It is more of the same mentality. It is very difficult for an Officer to be able to see past the problems at hand, and forecast and plan for the future.
You will need to appoint Directors that are not in a conflict of interest to the company. You will not be able to pick your accountant, your spouse, your lawyer. You will need to find people who can be objective when it comes to how the business should direct itself. People you work closely with, may not have the company’s best interest at heart.
Directors will direct the business during the next year, checking corporate state and federal tax returns, monthly financials, stock issuance, loans, pension or profit sharing plans, bonus’, acquisitions, or purchases. As a Shareholder you do not have control over that unless you give up your Shareholder status and request a buyout.
Tuesday, March 10, 2009
Resolutions
The second segment of the annual meeting is to ratify resolutions adopted by the directors during the year. I found this to be quite interesting from the Shareholders perspective. When the year is complete, the Shareholders get to find out what resolutions were adopted during the past year. The Shareholders are not voting on these resolutions during the year. If you are a director you know what they are, but if you are not, this could be a very stick situation.
Say, you are a Shareholder, and you find out at the annual meeting that a resolution was adopted by the directors during the past calendar or fiscal year, that they approved receiving a loan from a bank. This should make you upset that you are only a Shareholder. Your investment has just taken a step back in a return on your investment. The bank will now have to be paid back first, and what if the company is not making any money? What happens when they do not know how to spend money wisely, or do not use a budget?
Directors of a company, public or private have a lot of power. If they are able to get a loan from a bank, without the vote of the shareholders, then you as a shareholder are left holding the bag. If it is a public held company, then the price per share will drop, when they have more debt. If the public company can have a press release to say it is for materials for a contract they just received and the money is going to be paid back once the contract billing starts getting paid, then you at least know what the revenue outlook is like.
If you are a shareholder of a private company, then you do not have to be told what the Directors and Officers are doing at the company. You will find out at a shareholders meeting, if one is called for. An annual meeting is a requirement to continue status of a corporation. If the Directors or Officers do not have an annual meeting, the Shareholders can protest that the company is being run like a sole proprietorship and that any debt incurred should not be taken out of the Shareholders investment. The Shareholder should request that they receive the fair market value for their shares and remove themselves as a shareholder.
Say, you are a Shareholder, and you find out at the annual meeting that a resolution was adopted by the directors during the past calendar or fiscal year, that they approved receiving a loan from a bank. This should make you upset that you are only a Shareholder. Your investment has just taken a step back in a return on your investment. The bank will now have to be paid back first, and what if the company is not making any money? What happens when they do not know how to spend money wisely, or do not use a budget?
Directors of a company, public or private have a lot of power. If they are able to get a loan from a bank, without the vote of the shareholders, then you as a shareholder are left holding the bag. If it is a public held company, then the price per share will drop, when they have more debt. If the public company can have a press release to say it is for materials for a contract they just received and the money is going to be paid back once the contract billing starts getting paid, then you at least know what the revenue outlook is like.
If you are a shareholder of a private company, then you do not have to be told what the Directors and Officers are doing at the company. You will find out at a shareholders meeting, if one is called for. An annual meeting is a requirement to continue status of a corporation. If the Directors or Officers do not have an annual meeting, the Shareholders can protest that the company is being run like a sole proprietorship and that any debt incurred should not be taken out of the Shareholders investment. The Shareholder should request that they receive the fair market value for their shares and remove themselves as a shareholder.
Monday, March 9, 2009
5 Important responsibilities to have a Successful Annual Meeting
In order to have a successful annual meeting at your company, you will need to be aware of the 5 important responsibilities that are needed. You started your company in the hopes to provide a service, product, or both and receive a profit. When you started your company you were looking forward to seeing money in your checking account, a good customer list, and easy to work with vendors. At times it didn’t seem like that was happening. Other times, it was smooth sailing. You were able to get the answers you wanted just by asking the bookkeeper, the service manager, or installation manager, or salesman. If you are the sole owner of the business, you can do it that way. If you have other shareholders, or creditors to answer to, it is not that easy.
You need to be able to answer questions about your business and how it is operating. You will need to know where you spent the money, and how much of it was spent on Cost of Goods, and Overhead. You will need to explain why the % profit is where it is. Whether it is within industry standards, or not, and why not. You will need to review all of your departments and breakdown their budgets versus actual sales and spending.
In a corporate annual meeting, there is a board of directors who were voted in by the Shareholders to oversee the running of the company. If you are a Director, then you will be presenting it to the Shareholders. If you are a Shareholder also, then you will be approving the company’s revenue and expenses for the prior fiscal or calendar year.
A Shareholders position with the company is to receive study and approve the company’s balance sheet and other financial statements submitted by the directors. Some firms provide an auditor’s report showing that they have been checked for accuracy. If you are a Director, then it is your fiduciary duty to make sure that the financial statements being presented are accurate and reflect the actual business of the company. No forward looking statements are to be included in this segment. Shareholders need to know where they stand in regards to receiving a premium on their investment. This is not the time to create fluff in accounting to provide a better looking statement. It is what it is.
As a Shareholder it is your duty to be sure you understand how the company is making its money, and if it is just on paper or do they have cash. As a Shareholder, the company may want you to invest more money in order to continue doing business. You want to be sure you understand just what is behind the numbers.
Unfortunately, for the publicly traded companies, Shareholders in them do not get to ask the tough questions and find out what how the accounting is being done to produce the financial statements they receive in their annual report. Although it may have an auditor’s report with it, there have been companies that have failed doing the very same thing.
Be sure to take this responsibility serious if you want to be a Shareholder.
You need to be able to answer questions about your business and how it is operating. You will need to know where you spent the money, and how much of it was spent on Cost of Goods, and Overhead. You will need to explain why the % profit is where it is. Whether it is within industry standards, or not, and why not. You will need to review all of your departments and breakdown their budgets versus actual sales and spending.
In a corporate annual meeting, there is a board of directors who were voted in by the Shareholders to oversee the running of the company. If you are a Director, then you will be presenting it to the Shareholders. If you are a Shareholder also, then you will be approving the company’s revenue and expenses for the prior fiscal or calendar year.
A Shareholders position with the company is to receive study and approve the company’s balance sheet and other financial statements submitted by the directors. Some firms provide an auditor’s report showing that they have been checked for accuracy. If you are a Director, then it is your fiduciary duty to make sure that the financial statements being presented are accurate and reflect the actual business of the company. No forward looking statements are to be included in this segment. Shareholders need to know where they stand in regards to receiving a premium on their investment. This is not the time to create fluff in accounting to provide a better looking statement. It is what it is.
As a Shareholder it is your duty to be sure you understand how the company is making its money, and if it is just on paper or do they have cash. As a Shareholder, the company may want you to invest more money in order to continue doing business. You want to be sure you understand just what is behind the numbers.
Unfortunately, for the publicly traded companies, Shareholders in them do not get to ask the tough questions and find out what how the accounting is being done to produce the financial statements they receive in their annual report. Although it may have an auditor’s report with it, there have been companies that have failed doing the very same thing.
Be sure to take this responsibility serious if you want to be a Shareholder.
Friday, March 6, 2009
Is Your Company Having Yearly Meetings?
If your company is a Corporation, Limited Partnership, or LLC, you should be having yearly meetings. Do you know what goes on in a yearly meeting? Next Week we will be discussing what needs to be said and how to record those meetings to protect your company and its' officers.
Wednesday, March 4, 2009
Advertising - Self Promotion
Self-promotion is similar to spreading the word by any other means but with an artistic approach. If the artistic part were taken out of the equation advertising would look more like barging rather than self-promotion. There are many steps involved in this process. The first step is to collect and create useful content relating to the topic, which is a not an easy job.
In today’s fast paced world owning a website for your business is a must which is not a big deal anymore with so many people available who excel in web designing and also offer a competitive rate. There are many types of technologies involved in the creation of a website, a one page flash website wouldn’t take you places. Intense graphics should be incorporated to catch the eye of the customer. After the creation of website, the website content should be emphasized upon. Writers who expertise in search engine optimization should be raked in so that the page ranks amongst the top pages on Google, Yahoo and Msn. Search engines have become popular universally and your website doing good on them plays a more vital role than getting other kind of references. Hence, efforts should be made on making remarkable progress to bring your website in the hit list. Also, material on the website should be updated frequently to meet the changing needs of the people. Get someone to design a logo for the company and website which is catchy and delivers the right message to the customers.
Other than website content, articles should also be published in newspapers, magazines and online publications especially business oriented emphasizing on ten strong points which describes the best about the business or the product. Online publication will facilitate in providing successful searches to the targeted audience.
The next target method of advertising should be television. Putting a commercial during the prime time will spread the message to a larger crowd. The content of the advertising should be akin to the value of the product. Famous personalities can be roped in to endorse the product, which will not only attract common people but also their fans in buying the product.
From time to time it is essential to review the past work and improving on the mistakes previously committed. Once the previous mistakes are tackled, it wouldn’t hurt to analyze previous milestones, awards, and acquisitions. This increases the chances of running into something that really deserves to be highlighted to the public. The more accomplishments you display to the public the more fan-following your product will get.
Reviewing competitor’s work on a regular basis would prove fruitful. This would also help identify loopholes in your product that have been overlooked before and would provide the key reasons to improve on.
Although this is an old approach, snail mails are also one of the best advertising methods. As it’s a more energy consuming approach, it’s important that you have the addresses of the customers who are really in need of the product. Regular mails containing details about the new development will keep people informed about your company’s products. A more modern approach to this method is collecting e-mail ids of the targeted customers and posting them ads and latest deals. This is a cheaper and less time consuming approach compared to snail mails as you can mass email as many people as you want at any time.
Before releasing any product in the market, product testing should be done by giving out samples among the targeted customers. The feedbacks makes it more clear whether the product is ready to be released in the market or whether changes should be made to make it more appealing to the public. It is recommended to approach sincere friends, acquaintances, partners and clients at first to test your product and then go to the public, as expert advice is more useful.
To make more brownie points, address the customers and clients and appreciate them for their contribution in making the product popular. Send a token of thanks on special occasions like festivals or on accomplishing an important task. Customers can also be thanked by offering special discounts and free gifts. After gaining popularity focus should be on retaining the reputation rather than taking things for granted.
In today’s fast paced world owning a website for your business is a must which is not a big deal anymore with so many people available who excel in web designing and also offer a competitive rate. There are many types of technologies involved in the creation of a website, a one page flash website wouldn’t take you places. Intense graphics should be incorporated to catch the eye of the customer. After the creation of website, the website content should be emphasized upon. Writers who expertise in search engine optimization should be raked in so that the page ranks amongst the top pages on Google, Yahoo and Msn. Search engines have become popular universally and your website doing good on them plays a more vital role than getting other kind of references. Hence, efforts should be made on making remarkable progress to bring your website in the hit list. Also, material on the website should be updated frequently to meet the changing needs of the people. Get someone to design a logo for the company and website which is catchy and delivers the right message to the customers.
Other than website content, articles should also be published in newspapers, magazines and online publications especially business oriented emphasizing on ten strong points which describes the best about the business or the product. Online publication will facilitate in providing successful searches to the targeted audience.
The next target method of advertising should be television. Putting a commercial during the prime time will spread the message to a larger crowd. The content of the advertising should be akin to the value of the product. Famous personalities can be roped in to endorse the product, which will not only attract common people but also their fans in buying the product.
From time to time it is essential to review the past work and improving on the mistakes previously committed. Once the previous mistakes are tackled, it wouldn’t hurt to analyze previous milestones, awards, and acquisitions. This increases the chances of running into something that really deserves to be highlighted to the public. The more accomplishments you display to the public the more fan-following your product will get.
Reviewing competitor’s work on a regular basis would prove fruitful. This would also help identify loopholes in your product that have been overlooked before and would provide the key reasons to improve on.
Although this is an old approach, snail mails are also one of the best advertising methods. As it’s a more energy consuming approach, it’s important that you have the addresses of the customers who are really in need of the product. Regular mails containing details about the new development will keep people informed about your company’s products. A more modern approach to this method is collecting e-mail ids of the targeted customers and posting them ads and latest deals. This is a cheaper and less time consuming approach compared to snail mails as you can mass email as many people as you want at any time.
Before releasing any product in the market, product testing should be done by giving out samples among the targeted customers. The feedbacks makes it more clear whether the product is ready to be released in the market or whether changes should be made to make it more appealing to the public. It is recommended to approach sincere friends, acquaintances, partners and clients at first to test your product and then go to the public, as expert advice is more useful.
To make more brownie points, address the customers and clients and appreciate them for their contribution in making the product popular. Send a token of thanks on special occasions like festivals or on accomplishing an important task. Customers can also be thanked by offering special discounts and free gifts. After gaining popularity focus should be on retaining the reputation rather than taking things for granted.
Tuesday, March 3, 2009
How Your Health Insurance Plan should Work for You
No matter how avidly you take care of your health, there are unexpected circumstances that can land you a day or two in the hospital. If you are not prepared and you do not have enough health insurance coverage, this can cut a great deal with your savings. Thus, it is very important that you choose the best health insurance plan that can help you in case of an emergency.
First, check out all the health insurance options that you have. Consider your family’s health needs as well when signing-up for an insurance plan. There are two types of health insurance plan that you can sign-up for: private and government health insurance options. The private health insurance is personally signed-up for by an individual. You will also have a health insurance plan when you are employed. The company will provide you with coverage as part of your employee benefits.
The health insurance coverage provided by the government may be offered on a local, state or national level. Medicare is an example of a health insurance plan offered on a national level. Medicare benefits are available for people who are over 65 years of age, and to persons with disabilities. Other government-initiated health insurance programs include: Medicaid, the State Children’s Health Insurance Program, health care benefits for the veterans and military, as well as eligible American Indians.
If you want to sign-up for a private health insurance plan, learn everything that you need to know about the coverage stipulated on your contract. Read the coverage information and check the sections stating the exclusions. Avoid signing up for one which has a long list of exclusions that would not cover much of anything. More importantly, make sure that you have a copy of every contract that you will sign. See to it that your personal information is correct and make a note of the coverage period. All in all, make sure that you have ample health insurance coverage for you to use whenever you need it.
First, check out all the health insurance options that you have. Consider your family’s health needs as well when signing-up for an insurance plan. There are two types of health insurance plan that you can sign-up for: private and government health insurance options. The private health insurance is personally signed-up for by an individual. You will also have a health insurance plan when you are employed. The company will provide you with coverage as part of your employee benefits.
The health insurance coverage provided by the government may be offered on a local, state or national level. Medicare is an example of a health insurance plan offered on a national level. Medicare benefits are available for people who are over 65 years of age, and to persons with disabilities. Other government-initiated health insurance programs include: Medicaid, the State Children’s Health Insurance Program, health care benefits for the veterans and military, as well as eligible American Indians.
If you want to sign-up for a private health insurance plan, learn everything that you need to know about the coverage stipulated on your contract. Read the coverage information and check the sections stating the exclusions. Avoid signing up for one which has a long list of exclusions that would not cover much of anything. More importantly, make sure that you have a copy of every contract that you will sign. See to it that your personal information is correct and make a note of the coverage period. All in all, make sure that you have ample health insurance coverage for you to use whenever you need it.
Monday, March 2, 2009
Why should we work together?
Can we accomplish more if we work as a team, than apart? How can we work together and feel that we are making our community a better place? One idea is to join your local Chamber of Commerce.
Do you need to reinvent yourself in this changing economy? How about your business? Does it need a facelift? Where can you go to let others know what you do? Maybe you just want to get out and meet new people.
The Local Chamber of Commerce is there is Share and Care ideas and business. How frustrated are you with your business and its operations? You can get many ideas from others who have been in your shoes before.
In this fast paced world with the internet, email, texting, twittering, social networking, how much time do you really have to tell someone else what you do? You can learn how to express what you do in 30 seconds or less.
Are you in the minds of a lot of people? Do you have celebrity status? If not, the Local Chamber of Commerce has programs on how the media can help put a spotlight on your business. Go out and shine in 2009!
Are you a trusted advisor in your company? Do you have the boss’s ear? If you want that, you can join the local Chamber of Commerce to help you learn what businesses are looking for today. There are a lot of books on the subject, and they are good to study the ways companies have been doing things. Now is the time to find out what is working or not working today.
Do you want clarity in your business? Do you need an updated Business Plan? The local Chamber of Commerce is a good place to help you strategize your business plan. If you don’t have a business plan, start thinking about creating one. It is a good document to have to bring clarity to what you want to achieve. SCORE is an organization that is part of the local Chamber of Commerce and is available to help you with your plans.
Check out the song lyrics by Canned Heat “Let’s Work Together”
Together we’ll stand
Divided we’ll fall
Come on now people
Let’s get on the ball
And work together
(Now now people)
Because together we will stand
Every boy, every girl and man
People, when things go wrong
As they sometimes will
And the road you travel
It stays all uphill
Let's work together
Come on, come on
Let's work together
You know together we will stand
Every boy, girl, woman and man
Oh well now, two or three minutes
Two or three hours
What does it matter now
In this life of ours
Let's work together\ Come on, come on
Let's work together
(Now now people)
Because together we will stand
Every boy, every woman and man
Ahhh, come on now...
Ahhh, come on, let's work together...
Well now, make someone happy
Make someone smile
Let's all work together
And make life worthwhile
Let's work together
Come on, come on
Let's work together
(Now now people)
Because together we will stand
Every boy, girl, woman and man
Oh well now, come on you people
Walk hand in hand
Let's make this world of ours
A good place to stand
And work together
Come on, come on
Let's work together
(Now now people)
Because together we will stand
Every boy, girl, woman and man
Well now together we will stand
Every boy, girl, woman and man
Join Your Local Chamber of Commerce Today and Work Together!
Do you need to reinvent yourself in this changing economy? How about your business? Does it need a facelift? Where can you go to let others know what you do? Maybe you just want to get out and meet new people.
The Local Chamber of Commerce is there is Share and Care ideas and business. How frustrated are you with your business and its operations? You can get many ideas from others who have been in your shoes before.
In this fast paced world with the internet, email, texting, twittering, social networking, how much time do you really have to tell someone else what you do? You can learn how to express what you do in 30 seconds or less.
Are you in the minds of a lot of people? Do you have celebrity status? If not, the Local Chamber of Commerce has programs on how the media can help put a spotlight on your business. Go out and shine in 2009!
Are you a trusted advisor in your company? Do you have the boss’s ear? If you want that, you can join the local Chamber of Commerce to help you learn what businesses are looking for today. There are a lot of books on the subject, and they are good to study the ways companies have been doing things. Now is the time to find out what is working or not working today.
Do you want clarity in your business? Do you need an updated Business Plan? The local Chamber of Commerce is a good place to help you strategize your business plan. If you don’t have a business plan, start thinking about creating one. It is a good document to have to bring clarity to what you want to achieve. SCORE is an organization that is part of the local Chamber of Commerce and is available to help you with your plans.
Check out the song lyrics by Canned Heat “Let’s Work Together”
Together we’ll stand
Divided we’ll fall
Come on now people
Let’s get on the ball
And work together
(Now now people)
Because together we will stand
Every boy, every girl and man
People, when things go wrong
As they sometimes will
And the road you travel
It stays all uphill
Let's work together
Come on, come on
Let's work together
You know together we will stand
Every boy, girl, woman and man
Oh well now, two or three minutes
Two or three hours
What does it matter now
In this life of ours
Let's work together\ Come on, come on
Let's work together
(Now now people)
Because together we will stand
Every boy, every woman and man
Ahhh, come on now...
Ahhh, come on, let's work together...
Well now, make someone happy
Make someone smile
Let's all work together
And make life worthwhile
Let's work together
Come on, come on
Let's work together
(Now now people)
Because together we will stand
Every boy, girl, woman and man
Oh well now, come on you people
Walk hand in hand
Let's make this world of ours
A good place to stand
And work together
Come on, come on
Let's work together
(Now now people)
Because together we will stand
Every boy, girl, woman and man
Well now together we will stand
Every boy, girl, woman and man
Join Your Local Chamber of Commerce Today and Work Together!
Friday, February 27, 2009
Managing Cash Flow outside your Company
Managing Cash Flow outside your Company hinges on 3 major factors. 1) Your bank and how well it operates for availability of funds, 2) Customers and 3) Vendors.
The bank that you decide to go with to deposit the checks you receive and how long it takes to clear could be a factor when you are opening an account. Also the rates they charge for loans, the collateral that they require, and the reputation of the bank will also be of interest. Asking the hard questions of bank representatives prior to putting your money in them, provides more leverage, than after you have an account there. You may want to make an appointment to interview the banks representatives’ and get commitments or proposals on what they are willing to do for you. Due to the influx of banks, they should be competitive.
Customers are what you are in business for. The more customers you have the more opportunity the company has for growth. Customers can be a problem to you, if they get into a cash crunch, and do not pay for the services in the terms provided. It is very difficult to collect funds when you are strapped for them. Be sure to re-iterate the terms to your customers during economic slowdowns. There is always a risk that they will go to someone else that may be cheaper, or will extend them more credit, but if they can not pay, you are better off not bankrolling them. Be sure you have a customer cash policy and that your employees know it too.
Vendors are your life line between your product and the customer. You need raw materials if you are a manufacturer or a contractor. You need supplies or parts if you perform a service to your customers. Companies are unable to create and supply all of the materials needed to customers on their own. They need vendors to help them put together the finished product. Leveraging the vendors you use may come in handy when you are in a cash crunch. Keeping in touch with vendors to update them on your situation can be very helpful in keeping them as a vendor. When vendors call for money, they do not use the strong arm tactics at first. But if your Bookkeeper continues to give excuses to the vendors, they have no other option than to cut the company off from purchasing. If a company has not planned for best practices in all departments of the firm, it can lead to some unpleasant customers and employees. Be sure you have a vendor policy and know the terms when purchasing products.
The bank that you decide to go with to deposit the checks you receive and how long it takes to clear could be a factor when you are opening an account. Also the rates they charge for loans, the collateral that they require, and the reputation of the bank will also be of interest. Asking the hard questions of bank representatives prior to putting your money in them, provides more leverage, than after you have an account there. You may want to make an appointment to interview the banks representatives’ and get commitments or proposals on what they are willing to do for you. Due to the influx of banks, they should be competitive.
Customers are what you are in business for. The more customers you have the more opportunity the company has for growth. Customers can be a problem to you, if they get into a cash crunch, and do not pay for the services in the terms provided. It is very difficult to collect funds when you are strapped for them. Be sure to re-iterate the terms to your customers during economic slowdowns. There is always a risk that they will go to someone else that may be cheaper, or will extend them more credit, but if they can not pay, you are better off not bankrolling them. Be sure you have a customer cash policy and that your employees know it too.
Vendors are your life line between your product and the customer. You need raw materials if you are a manufacturer or a contractor. You need supplies or parts if you perform a service to your customers. Companies are unable to create and supply all of the materials needed to customers on their own. They need vendors to help them put together the finished product. Leveraging the vendors you use may come in handy when you are in a cash crunch. Keeping in touch with vendors to update them on your situation can be very helpful in keeping them as a vendor. When vendors call for money, they do not use the strong arm tactics at first. But if your Bookkeeper continues to give excuses to the vendors, they have no other option than to cut the company off from purchasing. If a company has not planned for best practices in all departments of the firm, it can lead to some unpleasant customers and employees. Be sure you have a vendor policy and know the terms when purchasing products.
Thursday, February 26, 2009
Manage the Cash Flow Inside your Company
If your company is large enough to have employees, you will need to manage the cash flow inside your company. Who handles cash in your company? Cash comes in the form of purchase orders, check writing, c.o.d. deliveries, ordering lunch for the office, or customers, etc. The size of the company and the duties that are delegated to employees will determine who is handling your cash.
If you have budgets for each department regarding spending, it should be easy to monitor the progress. Weekly, Monthly or Quarterly reviews will help you keep the spending in line with the budget. Daily reporting of what has been purchased can be transferred to the companies cash flow forecast for future planning. These ideas can help facilitate a larger purchase of equipment if it becomes necessary.
All companies have cash intensive times when the business cycle changes with the growth cycle. The growth cycle pertains to employment, income, and purchasing of capital equipment to grow a company or a nation. The business cycle follows the growth cycle needing to keep up with growth by spending on the items that will help it grow. Once the buying stops and the growth cycle peaks, the business cycle will follow it down.
Keeping track of who is responsible in your company for cash flow forecasting and actual spending will help the company recognize when the business cycle is slowing. Company CFO’s and Owners need to be aware of the cash flow policies and practices that go on inside their company.
If you have budgets for each department regarding spending, it should be easy to monitor the progress. Weekly, Monthly or Quarterly reviews will help you keep the spending in line with the budget. Daily reporting of what has been purchased can be transferred to the companies cash flow forecast for future planning. These ideas can help facilitate a larger purchase of equipment if it becomes necessary.
All companies have cash intensive times when the business cycle changes with the growth cycle. The growth cycle pertains to employment, income, and purchasing of capital equipment to grow a company or a nation. The business cycle follows the growth cycle needing to keep up with growth by spending on the items that will help it grow. Once the buying stops and the growth cycle peaks, the business cycle will follow it down.
Keeping track of who is responsible in your company for cash flow forecasting and actual spending will help the company recognize when the business cycle is slowing. Company CFO’s and Owners need to be aware of the cash flow policies and practices that go on inside their company.
Wednesday, February 25, 2009
Monitoring the Cash Flow System - Cash is King
A positive cash flow is one of the core values you go into business. You have a trade that you excel at, and want to show the world, as well as make a profit. If you are monitoring your cash flow from the beginning, you will have more confidence when you are selling your product or service.
Company goals should include cash flow forecasts and how to manage that cash. In the last 5 parts of the Cash Flow Methods blog, we have provided ways to look at the Cash Flow and how to make it a goal in your company.
The monitoring process of any goal should be one of measurements. Your daily cash flow report can be used as a measurement of how well you are collecting outstanding monies and how you are spending them. The credit terms you have with vendors and banks can also be a measurement of how well you are paying your bills and the reputation you are creating.
How much debt and how much cash do you have should be checked on a monthly basis. This way you can determine if your note is called by the bank in these economic times, how much could you pay down? One of your cash flow goals may be to look for an investor to supplement for cash and give up some control and shares of the business.
Are you getting discounts from your Vendors? Is a goal of your company to stock up on raw materials for the idle cash you want to invest? If you do not have a large warehouse to stockpile materials, can the vendor hold on to it for you? Can you negotiate that you will pay a portion of the cost to hold it at their warehouse, and as you need it, pay down on the balance?
Are you out there networking with your customers to let them know if you can help them through these troubled times? Before you have a lost leader, you want to be sure you have a product that can sell.
What is the territory that you serve? Do you have to deliver your product to a jobsite? How much are you willing to spend on transportation? What are your actual costs?
Keep in mind that everything you do affects your cash flow. You may want to expand your business, but do not have the capital to do so at this time. Now is a good time to plan how much it will cost and where you will find the cash.
A monitoring system will help you see the goals you set and where they are on the yardstick. You may have your goals listed out in your business plan when you started the business. It is a common idea to have a business plan. The problem with a business plan, is how often have you read it since it was written? Do you write it yourself, or did you buy one of those programs that told you what your goals should be?
At RCM we have a different kind of monitoring system. It takes in your goals, asking questions about those goals and creates a plan to achieve them. Check out our website http://rcmorganize.com
Company goals should include cash flow forecasts and how to manage that cash. In the last 5 parts of the Cash Flow Methods blog, we have provided ways to look at the Cash Flow and how to make it a goal in your company.
The monitoring process of any goal should be one of measurements. Your daily cash flow report can be used as a measurement of how well you are collecting outstanding monies and how you are spending them. The credit terms you have with vendors and banks can also be a measurement of how well you are paying your bills and the reputation you are creating.
How much debt and how much cash do you have should be checked on a monthly basis. This way you can determine if your note is called by the bank in these economic times, how much could you pay down? One of your cash flow goals may be to look for an investor to supplement for cash and give up some control and shares of the business.
Are you getting discounts from your Vendors? Is a goal of your company to stock up on raw materials for the idle cash you want to invest? If you do not have a large warehouse to stockpile materials, can the vendor hold on to it for you? Can you negotiate that you will pay a portion of the cost to hold it at their warehouse, and as you need it, pay down on the balance?
Are you out there networking with your customers to let them know if you can help them through these troubled times? Before you have a lost leader, you want to be sure you have a product that can sell.
What is the territory that you serve? Do you have to deliver your product to a jobsite? How much are you willing to spend on transportation? What are your actual costs?
Keep in mind that everything you do affects your cash flow. You may want to expand your business, but do not have the capital to do so at this time. Now is a good time to plan how much it will cost and where you will find the cash.
A monitoring system will help you see the goals you set and where they are on the yardstick. You may have your goals listed out in your business plan when you started the business. It is a common idea to have a business plan. The problem with a business plan, is how often have you read it since it was written? Do you write it yourself, or did you buy one of those programs that told you what your goals should be?
At RCM we have a different kind of monitoring system. It takes in your goals, asking questions about those goals and creates a plan to achieve them. Check out our website http://rcmorganize.com
Tuesday, February 24, 2009
Daily Cash Flow Report - Cash is King
In order to keep up with your cash, you will want a daily cash flow report. This is part 5 of 6 in the cash flow methods article. Cash balances are the most important item on your balance sheet. Your company needs cash to pay its obligations, payroll, suppliers, loans, taxes, etc. As you sell your product or services, the money that you receive from your customers needs to pay off your expenses. The balance that is left over is your idle cash to invest as stated in part 4.
Daily management decisions are affected by the company’s ability to receive payments from its customers. Short term and long term planning is essential, and descriptions of planning is in part 2. Reporting daily cash balances can assist you in making sure you have a clear plan for collecting and spending the cash you receive.
If you are planning in advance, you will not be swayed by the squeaky wheel. If you are not planning, you will be overwhelmed by suppliers, and banks calling for money. They will also be requesting a schedule on how you will pay the balance down. You do not want to get into this predicament.
By receiving a daily cash flow report from your bookkeeper, or accounting department, you will be able to predict with better accuracy how you will be paying your bills. Wouldn’t it be better for you to call your suppliers, before they call you when it could be too late to make a deal and get raw materials?
Daily management decisions are affected by the company’s ability to receive payments from its customers. Short term and long term planning is essential, and descriptions of planning is in part 2. Reporting daily cash balances can assist you in making sure you have a clear plan for collecting and spending the cash you receive.
If you are planning in advance, you will not be swayed by the squeaky wheel. If you are not planning, you will be overwhelmed by suppliers, and banks calling for money. They will also be requesting a schedule on how you will pay the balance down. You do not want to get into this predicament.
By receiving a daily cash flow report from your bookkeeper, or accounting department, you will be able to predict with better accuracy how you will be paying your bills. Wouldn’t it be better for you to call your suppliers, before they call you when it could be too late to make a deal and get raw materials?
Monday, February 23, 2009
Investing Idle Cash - Cash is King
It may sound strange that this is part 4 of the Cash Flow methods. Who has idle cash today? With all the banks and debt that we are mounting in this country, where is idle cash?
If you are forecasting your cash flow and becoming efficient with your income and expenses, you will find idle cash. It is imperative to have idle cash to survive through the downturn in the business cycle. Businesses do not just continue to go up. There are downturns you will want to plan for.
Short term investing is an important task for the cash flow manager. By investing in Short Term investments, you can borrow back that money when your business is in need of cash, or an opportunity arises that will strengthen your core market. You will be able to take advantage of that opportunity. You will also have the confidence to negotiate better knowing that you have that backing. You will not be beholding to a bank to negotiate an interest rate. You can negotiate that interest rate with your own company. You are in control.
Short term investments would consist of money market funds, Treasury bills, commercial paper, and certificates of deposit. Another option would be to pay down any loans, or reduce accounts payable if you are receiving a discount.
Money market funds would be the most liquid, and right now they are not giving a high rate of interest. They are safe and very liquid right now. Treasury bills, commercial paper and certificates of deposit will need more time to mature and are not as liquid. When starting your idle cash program, it is best to use a money market account with a sweep option with your bank to capitalize on receiving interest.
Before you can invest that idle cash, you need to find it. By having a cash flow forecast, you can anticipate that idle cash and start looking for where you want to invest it, when you see it in your checking account.
If you are forecasting your cash flow and becoming efficient with your income and expenses, you will find idle cash. It is imperative to have idle cash to survive through the downturn in the business cycle. Businesses do not just continue to go up. There are downturns you will want to plan for.
Short term investing is an important task for the cash flow manager. By investing in Short Term investments, you can borrow back that money when your business is in need of cash, or an opportunity arises that will strengthen your core market. You will be able to take advantage of that opportunity. You will also have the confidence to negotiate better knowing that you have that backing. You will not be beholding to a bank to negotiate an interest rate. You can negotiate that interest rate with your own company. You are in control.
Short term investments would consist of money market funds, Treasury bills, commercial paper, and certificates of deposit. Another option would be to pay down any loans, or reduce accounts payable if you are receiving a discount.
Money market funds would be the most liquid, and right now they are not giving a high rate of interest. They are safe and very liquid right now. Treasury bills, commercial paper and certificates of deposit will need more time to mature and are not as liquid. When starting your idle cash program, it is best to use a money market account with a sweep option with your bank to capitalize on receiving interest.
Before you can invest that idle cash, you need to find it. By having a cash flow forecast, you can anticipate that idle cash and start looking for where you want to invest it, when you see it in your checking account.
Friday, February 20, 2009
Cash Flow Forecasting - Cash is King
This is part 3 of our 6 steps to Cash Flow Methods.
Cash flow forecasting is the art of actually putting down on paper, or in a spreadsheet, what you think you are going to get in this day, week, month, quarter, or year, and what you will pay out of those funds. It is a difficult task if you have not done it before. It takes some time to review what you have spent, and what you think you will spend. Spending is secondary to what you are going to get in.
Do you know what your sales will be this month? Do you know if you have any large bills coming due? Do you need more or updated equipment to run your business? Is it getting time for Spring cleaning?
Without an adequate Cash Flow Forecast, you could find yourself with overdrafts, deficiencies, late payments and problems with your vendors. If you have taken out any loans to run your business, you will need to add them to your forecast so you can make the scheduled payments and keep your credit intact.
You need to be thinking short term and long term regarding your finances. The short term keeps you abreast of what is happening now, but the long term can show you where you will need to either get more sales, or move payments around. You are being proactive when examining this kind of detail.
When do you have time to do a Cash Flow Forecast? Once you get one in a spreadsheet, you can do a weekly cash flow listing and then put in the actual figures that occurred. This will help you see if you are running into a problem, before the problem hits.
RCM does cash flow forecasting for you. We can get you set up, so you can just enter in figures that you feel are correct. Then as the weeks go by, you will get a clearer picture of your business needs. Sign up for our free report, and we will send you a weekly tip sheet to keep you clear about what you need.
A Penny Saved is Power.
Cash flow forecasting is the art of actually putting down on paper, or in a spreadsheet, what you think you are going to get in this day, week, month, quarter, or year, and what you will pay out of those funds. It is a difficult task if you have not done it before. It takes some time to review what you have spent, and what you think you will spend. Spending is secondary to what you are going to get in.
Do you know what your sales will be this month? Do you know if you have any large bills coming due? Do you need more or updated equipment to run your business? Is it getting time for Spring cleaning?
Without an adequate Cash Flow Forecast, you could find yourself with overdrafts, deficiencies, late payments and problems with your vendors. If you have taken out any loans to run your business, you will need to add them to your forecast so you can make the scheduled payments and keep your credit intact.
You need to be thinking short term and long term regarding your finances. The short term keeps you abreast of what is happening now, but the long term can show you where you will need to either get more sales, or move payments around. You are being proactive when examining this kind of detail.
When do you have time to do a Cash Flow Forecast? Once you get one in a spreadsheet, you can do a weekly cash flow listing and then put in the actual figures that occurred. This will help you see if you are running into a problem, before the problem hits.
RCM does cash flow forecasting for you. We can get you set up, so you can just enter in figures that you feel are correct. Then as the weeks go by, you will get a clearer picture of your business needs. Sign up for our free report, and we will send you a weekly tip sheet to keep you clear about what you need.
A Penny Saved is Power.
Thursday, February 19, 2009
Cash Flow Planning - Cash is King
Cash Flow Planning is essential in maintaining a business. Cash is King. The objective in planning what revenue is coming in and what must be paid out in the same time frame is to help you establish some payment rules. This is Step 2 in our series of Cash Flow methods.
You want to be sure that you can handle the payments that come expectedly and unexpectedly. Insurance renewal is always a big payment, and if you hadn’t planned on when that payment would be due, you will be scrambling to find the money. Putting a payment on a credit card may buy you some time and get you some reward points, but it can’t hold out indefinitely.
When the insurance payments are done for the year, you get about three months before the renewal premium is due. Do you continue to put aside that payment, so that you will have a build up of cash, or do you find that you need to spend it on something else. We will always spend money if it is in our pocket and not assigned to anything.
When I was growing up, my Father used envelopes when he cashed his check and wrote on the outside of the envelope how much money needed to go in each pay period. He was very good at making sure the money was there. He was disciplined to keep the cash in the envelope. Now that might have worked for him, and I believe you need to be disciplined to do that, and I was not so fortunate. I would borrow the money from one of the envelopes, and somehow it would never get back in there. Even if I told myself it would. Then when the money was needed, I have to rob another envelope to pay the bill.
Having a plan and a savings or money market account will save you from taking out of an envelope when you shouldn’t. You will also get interest on the money in the money market account. I agree that it is not much right now, but it grows while you are sleeping.
Making a cash flow plan will enable you to see where you are headed. At RCM, that is what we provide in our 7 step Cash is King Process for ongoing companies. Our website is at http://rcmorganize.com
You want to be sure that you can handle the payments that come expectedly and unexpectedly. Insurance renewal is always a big payment, and if you hadn’t planned on when that payment would be due, you will be scrambling to find the money. Putting a payment on a credit card may buy you some time and get you some reward points, but it can’t hold out indefinitely.
When the insurance payments are done for the year, you get about three months before the renewal premium is due. Do you continue to put aside that payment, so that you will have a build up of cash, or do you find that you need to spend it on something else. We will always spend money if it is in our pocket and not assigned to anything.
When I was growing up, my Father used envelopes when he cashed his check and wrote on the outside of the envelope how much money needed to go in each pay period. He was very good at making sure the money was there. He was disciplined to keep the cash in the envelope. Now that might have worked for him, and I believe you need to be disciplined to do that, and I was not so fortunate. I would borrow the money from one of the envelopes, and somehow it would never get back in there. Even if I told myself it would. Then when the money was needed, I have to rob another envelope to pay the bill.
Having a plan and a savings or money market account will save you from taking out of an envelope when you shouldn’t. You will also get interest on the money in the money market account. I agree that it is not much right now, but it grows while you are sleeping.
Making a cash flow plan will enable you to see where you are headed. At RCM, that is what we provide in our 7 step Cash is King Process for ongoing companies. Our website is at http://rcmorganize.com
Wednesday, February 18, 2009
Cash Flow Efficiences - Cash is King
Cash flow efficiences is a big word for measuring a company's liquidity. Cash is King in todays economy, so finding ways to be efficient with each dollar is on the top priority of business owners' minds. If you are a small to mid-size company, as the owner you are the cash manager. You are concerned about when the dollars are coming in, and how they will be spent.
6 different medthods to help you keep on top of your cash flow will be discussed over the next 5 days. Today we will concentrate on getting your customers to pay you on time or up front. Cash management involves making sure the products that you are sending out are getting paid for by your customer. Some customers who are not being watched, can rack up a pretty high receivable before you try to collect the money. They have reasons - they have policies, but in a small business, you can not wait for 90 days to get paid, if you are having to pay your suppliers in 30. You need to be sure there is a direct connection between the sales payment and the supplies payment.
Review your customers open balances, and see how much did it cost you to deliver the finished goods. Can you take the funds from another customer to pay the vendors, until that customer can pay you? Do you know how much it is costing your business by not collecting the money within your terms? Can you afford to drop some customers that do not pay regularly? Do you have someone calling those customers frequently to be sure you are on the getting paid list? Does that customer have cash flow problems of their own?
Concentrating on your customer base and who is paying you, is your first priority of the six steps. Find vendors that may deliver the same materials for less cost, or different payment terms that fit in with your customer base. Do you accept credit cards? Can you offer a cash discount for early payment? Can you give an even bigger discount if they paid by cash, not check or credit card?
Analyzing your cash flow system is what RCM does on a day to day basis. We evaluate your customers and their payment habits to help you form a better relationship between your customer and your supplier.
Sign up for the Cash is King, Build Your Kingdom report and receive weekly tips regarding how your business can survive in this economy.
6 different medthods to help you keep on top of your cash flow will be discussed over the next 5 days. Today we will concentrate on getting your customers to pay you on time or up front. Cash management involves making sure the products that you are sending out are getting paid for by your customer. Some customers who are not being watched, can rack up a pretty high receivable before you try to collect the money. They have reasons - they have policies, but in a small business, you can not wait for 90 days to get paid, if you are having to pay your suppliers in 30. You need to be sure there is a direct connection between the sales payment and the supplies payment.
Review your customers open balances, and see how much did it cost you to deliver the finished goods. Can you take the funds from another customer to pay the vendors, until that customer can pay you? Do you know how much it is costing your business by not collecting the money within your terms? Can you afford to drop some customers that do not pay regularly? Do you have someone calling those customers frequently to be sure you are on the getting paid list? Does that customer have cash flow problems of their own?
Concentrating on your customer base and who is paying you, is your first priority of the six steps. Find vendors that may deliver the same materials for less cost, or different payment terms that fit in with your customer base. Do you accept credit cards? Can you offer a cash discount for early payment? Can you give an even bigger discount if they paid by cash, not check or credit card?
Analyzing your cash flow system is what RCM does on a day to day basis. We evaluate your customers and their payment habits to help you form a better relationship between your customer and your supplier.
Sign up for the Cash is King, Build Your Kingdom report and receive weekly tips regarding how your business can survive in this economy.
Tuesday, February 17, 2009
U.S. Spending Habits
According to the U.S. Department of Labor Consumer Expenditure Survey, the average amounts consumers spend on different categories are the following:
Savings 10%
Healthcare 6%
Entertainment 6%
Food/Beverage 15%
Transportation 20%
Housing 33%
Clothing 5%
Misc. 5%
I was surprised when I saw the savings rate at 10%. I had heard that we didn't save very much as a nation, The BEA, or Bureau of Economic Analysis is showing the savings rate of disposable income at near 3%.
Saving is a very good habit to get in to. Developing a budget first to find out how much you can save is a good first step. Looking at where you spend most of your money, and find out if there is a less expensive way to get the same items, or if it is your house, you may be able to qualify for re-financing as the stimulus bill has passed. If you get money as gifts, try to save that instead of buying the latest gadget that is on the market. The price of new technology does come down eventually, and then if you still want it, you could get it. You might find that you don't really need it after all.
Set some savings goals from the budget you created, in order to motivate you to save the money. Seeing your savings account grow, will be as rewarding as buying the new Iphone. Check out your local banks and credit unions for money market rates and CD's. You could transfer money that you saved to those investments that will provide more interest.
This is no get rich quick scheme. You will see your hard work pay off in your bank statement.
Savings 10%
Healthcare 6%
Entertainment 6%
Food/Beverage 15%
Transportation 20%
Housing 33%
Clothing 5%
Misc. 5%
I was surprised when I saw the savings rate at 10%. I had heard that we didn't save very much as a nation, The BEA, or Bureau of Economic Analysis is showing the savings rate of disposable income at near 3%.
Saving is a very good habit to get in to. Developing a budget first to find out how much you can save is a good first step. Looking at where you spend most of your money, and find out if there is a less expensive way to get the same items, or if it is your house, you may be able to qualify for re-financing as the stimulus bill has passed. If you get money as gifts, try to save that instead of buying the latest gadget that is on the market. The price of new technology does come down eventually, and then if you still want it, you could get it. You might find that you don't really need it after all.
Set some savings goals from the budget you created, in order to motivate you to save the money. Seeing your savings account grow, will be as rewarding as buying the new Iphone. Check out your local banks and credit unions for money market rates and CD's. You could transfer money that you saved to those investments that will provide more interest.
This is no get rich quick scheme. You will see your hard work pay off in your bank statement.
Monday, February 16, 2009
As Soon As.....
I heard As Soon As.... when I was in a bank recently. The teller asked the customer if she wanted to open a savings account. The customer was apparently cashing a check for cash. The customer replied As Soon As I get my tax refund I will open one, with a laugh. She then stated "Don't I need $500 to open up the Account?" The Teller replied that you can open the account for $25.00, and you have 30 days to fund it up to $400.00. The customer again replied "As Soon As"....
Unfortunately, the customer may never save the tax refund. Without a real plan of action, action will not occur. A core value of "Saving" may never have been instilled in this customer, when she was young, or as she is getting older. Accountability to yourself, and others can expose your inner thoughts and feelings. Maybe she wants to spend the tax refund on something else, and doesn't want to admit that to the teller in a bank. She may have debts that need to be paid, but doesn't want to reveal that either.
Don't get caught in "As Soon As...." thinking. The time is now to do the right thing. You may not get another chance. The thought of regret for not doing something you said, may cause you to do other things that are not good for you.
How do you get away from "As Soon As....." thinking. Take time to plan your day. Take time to say to yourself, what is it that I want for myself and my loved ones today. Maybe you can only do for yourself, that is okay. You must start somewhere. YOU MUST START. Do not get tossed around by whatever comes your way. Make your life the way you want. Nothing is impossible. Keep an open mind. Write down what you want, and then take time to find a way to get it.
At RCM, we coach small business owners, who have gotten caught up in the daily grind of business to step back, and use the 4 R's of Accountability. This method is not just for business, it is for personal lives too. Enjoy the time it takes to plan your life. Do not look at it like it is a chore. Many great thinkers and successful people have taken the time to reflect on your roles, review your action steps, reiterate the goals you have to others and yourself during the day, and reward yourself for taking the action, not just completing a task.
Turn As Soon As into I am going to do it TODAY.
Unfortunately, the customer may never save the tax refund. Without a real plan of action, action will not occur. A core value of "Saving" may never have been instilled in this customer, when she was young, or as she is getting older. Accountability to yourself, and others can expose your inner thoughts and feelings. Maybe she wants to spend the tax refund on something else, and doesn't want to admit that to the teller in a bank. She may have debts that need to be paid, but doesn't want to reveal that either.
Don't get caught in "As Soon As...." thinking. The time is now to do the right thing. You may not get another chance. The thought of regret for not doing something you said, may cause you to do other things that are not good for you.
How do you get away from "As Soon As....." thinking. Take time to plan your day. Take time to say to yourself, what is it that I want for myself and my loved ones today. Maybe you can only do for yourself, that is okay. You must start somewhere. YOU MUST START. Do not get tossed around by whatever comes your way. Make your life the way you want. Nothing is impossible. Keep an open mind. Write down what you want, and then take time to find a way to get it.
At RCM, we coach small business owners, who have gotten caught up in the daily grind of business to step back, and use the 4 R's of Accountability. This method is not just for business, it is for personal lives too. Enjoy the time it takes to plan your life. Do not look at it like it is a chore. Many great thinkers and successful people have taken the time to reflect on your roles, review your action steps, reiterate the goals you have to others and yourself during the day, and reward yourself for taking the action, not just completing a task.
Turn As Soon As into I am going to do it TODAY.
Friday, February 13, 2009
The Price of Unanticipated fees
Legal fees can become an unanticipated expense to your bottom line. Especially when you are emotional about the matter. You pay for emotional urgency to any lawsuit. Legal services are there to help you stay within the law when you have a new business idea or an action that may come back to bite you.
Before you jump into the next acquisition, or agreement, check to see if there is a real need for the lawyer at this time. Are you able to handle the objections and questions that come up in negotiations without having a lawyer? Can you work out some of the details first, then just have the lawyer review it. It might save you time and money.
Before you jump into the next acquisition, or agreement, check to see if there is a real need for the lawyer at this time. Are you able to handle the objections and questions that come up in negotiations without having a lawyer? Can you work out some of the details first, then just have the lawyer review it. It might save you time and money.
Thursday, February 12, 2009
Food Allergies can cost your business money
Entrepreneurs are rarely sick. This comes from a book - The Entrepreneurial life, 1983, by A. David Silver. Psychological and physical profiles of these people, show that they can't afford to be sick. They are constantly thinking about their business, how to make it grow, how to achieve their goals, and how to keep down the competition.
When food allergies enter the picture, the thinking about growth can turn to anger, frustration and they may not know where it came from. Food allergies are not talked about much, but there are a lot of them out there. A blog that discusses allergies everyday is http://allergiesonyourplate.com/blog Food can affect more than just digestion, it affects the brain and how we put two and two together. Some days when you just can't think, write down what you ate. You might find that the best days you have are when you are eating a certain food, like fruit in the morning. That would help digestion.
Food allergies of the boss, affect the employees. Employees don't always know why they are having a bad day. Sure, they can surmise it to something that happened, but why did that something happen? Reviewing and looking into what you are eating, could be a life saver.
Food allergies can affect your customers and how you communicate with them, if you are feeling the affects of the allergy. You may not call someone back because you are irritable, but waiting may cost you the business.
Take time to review food and how it affects your body and mind. That is what the http://allergiesonyourplate.com/blog is all about. It just might save you money.
When food allergies enter the picture, the thinking about growth can turn to anger, frustration and they may not know where it came from. Food allergies are not talked about much, but there are a lot of them out there. A blog that discusses allergies everyday is http://allergiesonyourplate.com/blog Food can affect more than just digestion, it affects the brain and how we put two and two together. Some days when you just can't think, write down what you ate. You might find that the best days you have are when you are eating a certain food, like fruit in the morning. That would help digestion.
Food allergies of the boss, affect the employees. Employees don't always know why they are having a bad day. Sure, they can surmise it to something that happened, but why did that something happen? Reviewing and looking into what you are eating, could be a life saver.
Food allergies can affect your customers and how you communicate with them, if you are feeling the affects of the allergy. You may not call someone back because you are irritable, but waiting may cost you the business.
Take time to review food and how it affects your body and mind. That is what the http://allergiesonyourplate.com/blog is all about. It just might save you money.
Wednesday, February 11, 2009
Clutter costing you time
Clutter in business can be found in different ways: Unwanted emails, faxes, telephone solicitation that does not pertain to your industry. Not having a system for filing and retrieving papers.
Time costs you money. Where do you want to spend your time? Looking for a file that is urgent that may have only been important a month ago, but you didn't have a retrieval system, so it is lost, when you need it the most?
Another clutter and time waster is email that does not pertain to your business. Somehow they got your email address and now you have to sift through looking to see if you got anything important. Like and order, or a request for quote.
The unwanted vacation and healthcare faxes that cost you the phone call, the paper and the ink. Hopefully, you have a bin next to the fax for junk faces, so you can use the opposite side of the paper for a fax cover. When you are in a hurry and don't have time to print one out, or can't find the pre-printed ones that should be by the fax. You may have a folder that says fax cover sheets, but when you reach in, it is empty.
Save time, save money, create a way to handle clutter before it becomes a problem. If you have a clutter issue and want help, write a comment, and I will give you some suggestions.
Time costs you money. Where do you want to spend your time? Looking for a file that is urgent that may have only been important a month ago, but you didn't have a retrieval system, so it is lost, when you need it the most?
Another clutter and time waster is email that does not pertain to your business. Somehow they got your email address and now you have to sift through looking to see if you got anything important. Like and order, or a request for quote.
The unwanted vacation and healthcare faxes that cost you the phone call, the paper and the ink. Hopefully, you have a bin next to the fax for junk faces, so you can use the opposite side of the paper for a fax cover. When you are in a hurry and don't have time to print one out, or can't find the pre-printed ones that should be by the fax. You may have a folder that says fax cover sheets, but when you reach in, it is empty.
Save time, save money, create a way to handle clutter before it becomes a problem. If you have a clutter issue and want help, write a comment, and I will give you some suggestions.
Tuesday, February 10, 2009
Franchise Strategy
If you have the money to pay the franchise setup fee, you could use franchising as a finance strategy.
Franchises were created with the fast food industry. Companies who wanted to give the same service and purchase the same type of raw materials, and to have sources for both, created the franchise idea.
For a one time fee, monthly royalty payments on sales, the company gets branding and visability that could take years to obtain. If you have a highly visible and profitable company, you could receive those royalty payments to add to your cash flow. By turning into a franchise, by thinking out of the box, you could create passive income for your company and yourself.
Working on best practices and accountability systems are the first steps in creating a franchise that could turn out to be your next biggest customer.
At RCM, we specialize in best practices and accountability systems to get your franchise idea started. Go to http://www.rcmorganize.com and sign up for a free report to get you started.
Franchises were created with the fast food industry. Companies who wanted to give the same service and purchase the same type of raw materials, and to have sources for both, created the franchise idea.
For a one time fee, monthly royalty payments on sales, the company gets branding and visability that could take years to obtain. If you have a highly visible and profitable company, you could receive those royalty payments to add to your cash flow. By turning into a franchise, by thinking out of the box, you could create passive income for your company and yourself.
Working on best practices and accountability systems are the first steps in creating a franchise that could turn out to be your next biggest customer.
At RCM, we specialize in best practices and accountability systems to get your franchise idea started. Go to http://www.rcmorganize.com and sign up for a free report to get you started.
Monday, February 9, 2009
Prepaid Subscriptions
Generate cash flow by providing subscriptions to Newsletters, Videos, Consulting Services, Audio Interviews, Audio Teachings, Industry Magazine, Monthly Instruction Report.
Leverage your core business to customers by providing information that your customers can benefit by subscribing to them. Your customers trust you, so they will be interested in how you can enhance their business.
By providing educational material for a fee, you can increase your cash flow and keep in touch with your clients. Email letters are plentiful and sometimes daunting to read, print and file, (even if you do it electronically). Most inboxes have numerous email in them due to overload, and taking the time to separate them seems to be at the bottom of the important and not urgent pile. A mailed newsletter or CD would help your clients separate you out from your competition.
Keep in contact with your customers by providing prepaid subscription items on a regular basis.
I heard on the www.blogtalkradio.com/theaffiliatereporter that you can use http://www.elance.com/ to find a professional to help you write what you need. The blogtalkradio website can help you have a radio program and a podcast to send to your customers.
If you have other ideas, please comment here. Thanks
Leverage your core business to customers by providing information that your customers can benefit by subscribing to them. Your customers trust you, so they will be interested in how you can enhance their business.
By providing educational material for a fee, you can increase your cash flow and keep in touch with your clients. Email letters are plentiful and sometimes daunting to read, print and file, (even if you do it electronically). Most inboxes have numerous email in them due to overload, and taking the time to separate them seems to be at the bottom of the important and not urgent pile. A mailed newsletter or CD would help your clients separate you out from your competition.
Keep in contact with your customers by providing prepaid subscription items on a regular basis.
I heard on the www.blogtalkradio.com/theaffiliatereporter that you can use http://www.elance.com/ to find a professional to help you write what you need. The blogtalkradio website can help you have a radio program and a podcast to send to your customers.
If you have other ideas, please comment here. Thanks
Friday, February 6, 2009
Macy's Crunch
I heard on Tuesday, Feb. 3rd, that 5,100 employees at Macy's are on the chopping block due to slower sales and less profitability.
The United States has become a conglomerate nation. Companies who saw competition as a way to add profit to their bottom line by purchasing them.
In the 1980's Companies were not just buying their competition, or a product that would increase their market share. They bought companies that were not part of their Industry. Quaker Oats bought Brookstone, Eyelab and Jos. A. Bank Clothiers. They later sold them. Avon Products bought Tiffany, Mallenkuot Chemical and Foster Labs. Sara Lee bought Electrolux, then spun it off.
As we continue to go through the economic slowdown, some companies who cannot sustain the expenses that increased during the boom years in the 1990's (mostly the stock price, if the company was public) will be open to Raiders who will leverage the brand to create cash flow and profit.
The United States has become a conglomerate nation. Companies who saw competition as a way to add profit to their bottom line by purchasing them.
In the 1980's Companies were not just buying their competition, or a product that would increase their market share. They bought companies that were not part of their Industry. Quaker Oats bought Brookstone, Eyelab and Jos. A. Bank Clothiers. They later sold them. Avon Products bought Tiffany, Mallenkuot Chemical and Foster Labs. Sara Lee bought Electrolux, then spun it off.
As we continue to go through the economic slowdown, some companies who cannot sustain the expenses that increased during the boom years in the 1990's (mostly the stock price, if the company was public) will be open to Raiders who will leverage the brand to create cash flow and profit.
Thursday, February 5, 2009
Identifying your Principal Strengths
What is your Company's principal strength? Have you ever done a S.W.O.T. analysis on your Company? S.W.O.T. stands for Strengths, Weaknesses, Opportunities and Threats. You may have done this for your business plan, which you may or may not have looked at lately. The S.W.O.T. analysis changes with Industry and Personal changes.
The strengths reflect what your Company can do with the product sales, branding, competition, cash flow, best practices, accountability systems, etc.
These core principal strengths will assist you in leveraging your strengths against your weaknesses. Your focus can be directed in promoting those strengths to cusotmers, creating a niche market that you can capitalize on.
Take time to review your Company's S.W.O.T. characteristics and concentrate on your strengths and opportunities while making a plan to remove weaknesses and threats.
The strengths reflect what your Company can do with the product sales, branding, competition, cash flow, best practices, accountability systems, etc.
These core principal strengths will assist you in leveraging your strengths against your weaknesses. Your focus can be directed in promoting those strengths to cusotmers, creating a niche market that you can capitalize on.
Take time to review your Company's S.W.O.T. characteristics and concentrate on your strengths and opportunities while making a plan to remove weaknesses and threats.
Wednesday, February 4, 2009
Networking with the Competition
To continue with the theme of Keeper of the Jewels, networking with the competition mindset may help you to learn more about your business tactics.
Some industries have associations that solicit competitive firms to join. The association provides speakers at their monthly meetings to assist the entire industry. These associations also work with Legislators regarding laws that affect the industry. What you do with that information is up to you.
Affiliate Marketing on the internet can be applied to your industry. If you are new to Affiliate Marketing, please visit www.blogtalkradio.com/theaffiliatereporter to listen to how you can participate in this cash generating system.
If you provide a service that one of your competitors do not, this could be a valuable and profitable way to network with the competition. When writing your business plan, one of the sections you wrote about is the competition. Use that information to your advantage by networking with your competition. If you didn't write a business plan and need help to get a competitive advantage, write to us at rcmorganize@comcast.net.
Some industries have associations that solicit competitive firms to join. The association provides speakers at their monthly meetings to assist the entire industry. These associations also work with Legislators regarding laws that affect the industry. What you do with that information is up to you.
Affiliate Marketing on the internet can be applied to your industry. If you are new to Affiliate Marketing, please visit www.blogtalkradio.com/theaffiliatereporter to listen to how you can participate in this cash generating system.
If you provide a service that one of your competitors do not, this could be a valuable and profitable way to network with the competition. When writing your business plan, one of the sections you wrote about is the competition. Use that information to your advantage by networking with your competition. If you didn't write a business plan and need help to get a competitive advantage, write to us at rcmorganize@comcast.net.
Tuesday, February 3, 2009
Keeper of the Jewels
A business owners mindset of "Keeper of the Jewels" may inspire them to view their company as a diamond in the rough, and find ways to polish their cash flow techniques to make their company shine.
How owners and CEO's view their company in their industry can filter to their workforce. The image that the owners' present to their customers needs to be upbeat and believable. They need to project that there are solutions and they are presenting those solutions to their customers.
Owners who have a "Keeper of the Jewels" mindset will search for ways to build a strong plan for their core business. They will plan for the downside, having contingency plans to get them through the tough times.
Owners who forecast their cash flow can see ahead of time if they need to barter for some work done, or subcontract the work out instead of paying payroll and payroll taxes. The Keeper of the Jewels mindset will help you think out of the box for your company.
How owners and CEO's view their company in their industry can filter to their workforce. The image that the owners' present to their customers needs to be upbeat and believable. They need to project that there are solutions and they are presenting those solutions to their customers.
Owners who have a "Keeper of the Jewels" mindset will search for ways to build a strong plan for their core business. They will plan for the downside, having contingency plans to get them through the tough times.
Owners who forecast their cash flow can see ahead of time if they need to barter for some work done, or subcontract the work out instead of paying payroll and payroll taxes. The Keeper of the Jewels mindset will help you think out of the box for your company.
Sunday, February 1, 2009
Payables Crunch
Who would you pay first in business when money is in short supply? The order of prime importance would be taxes, loans and employees.
there are all kinds of taxes - income and wage taxes, sales taxes, RE taxes (if you own a building), business priviledge taxes, annual tax to states you are licensed in. Scheduling tax payments early enough will hellp you see what you owe and how to schedule these payments. Do not wait until the letters come in the mail to do something about it.
RCM can hellp you forecast. One product we have is a Cash is King Checkup system that will help you see how and when you can make these payments, so you won't be blindsided.
Loan payments are very important to make on time. Depending on your cash flow you may choose to make payments to financial institutions earlier than is required. If your interest is based on daily compounding, then paying early could save you interest on the life of the loan. The bank will be able to provide credit history in your favor for new credit that you apply for.
Employees are the life blood of your company. Sure, you could try to to it all during an economic downturn, but where are you going to find these employees once the economy turns. And do you know when that will be? Employees can help you do the tasks that need to be done, while you are investing your time to finding more and faster paying customers.
there are all kinds of taxes - income and wage taxes, sales taxes, RE taxes (if you own a building), business priviledge taxes, annual tax to states you are licensed in. Scheduling tax payments early enough will hellp you see what you owe and how to schedule these payments. Do not wait until the letters come in the mail to do something about it.
RCM can hellp you forecast. One product we have is a Cash is King Checkup system that will help you see how and when you can make these payments, so you won't be blindsided.
Loan payments are very important to make on time. Depending on your cash flow you may choose to make payments to financial institutions earlier than is required. If your interest is based on daily compounding, then paying early could save you interest on the life of the loan. The bank will be able to provide credit history in your favor for new credit that you apply for.
Employees are the life blood of your company. Sure, you could try to to it all during an economic downturn, but where are you going to find these employees once the economy turns. And do you know when that will be? Employees can help you do the tasks that need to be done, while you are investing your time to finding more and faster paying customers.
Saturday, January 31, 2009
Ice and Snow Crunch
Well Winter is here, and there have been some very cold and icy days. Some parts of the USA are out of electric and water. Large pieces of ice are starting to melt in Illinois, and could be dangerous for those residents who go outside. On www.weather.com, there is a page of weatherREADY resources, to protect your health and your home with expert tips, video, and printable checklists. The topics are Severe weather safety, home preparation, health, driving safety, sun safety, pet safety and Weather Safety for Kids.
This reminds me of how a business should be operating. We turn on the news every morning to see what the weather will be like. Do you ask yourself - what is my business going to be like that day? Are you thinking of the businessREADY resources that will protect your business and your lifestyle? Do you have checklists to be sure that all of the most important items at your business are getting done?
At RCM, that is what we specialize in. Just like someone forecasting the weather for you, RCM will help you forecast the day, quarter, or year ahead in your business. We look at Accountability systems, Best Practices and Cash Flow to create a plan to protect your business and create a road map to reach your goals. www.rcmorganize.com
This reminds me of how a business should be operating. We turn on the news every morning to see what the weather will be like. Do you ask yourself - what is my business going to be like that day? Are you thinking of the businessREADY resources that will protect your business and your lifestyle? Do you have checklists to be sure that all of the most important items at your business are getting done?
At RCM, that is what we specialize in. Just like someone forecasting the weather for you, RCM will help you forecast the day, quarter, or year ahead in your business. We look at Accountability systems, Best Practices and Cash Flow to create a plan to protect your business and create a road map to reach your goals. www.rcmorganize.com
Friday, January 30, 2009
Capitalism Crunch
Now that the economy has slowed, businesses may be concerned about their customer base and if it can hold up during the next year or two as we globally work our way out of this cash crisis. A year or two ago, as stock market investors, we were advised to buy stocks from Companies that had exposure overseas. The reasoning was that as different world markets expanded and collapsed, we would be able to keep above water through this idea of diversification.
Thinking back in hindsight now, it may have not have been wise advice. Since a lot of the American stock market companies were exposed to international markets, and we are in a global recession, there is no where to put your money.
Capitalism and inventors of products that will improve the American and Global way of life is where we need to focus. We will not be able to return to the industrial revolution overnight in America. We changed to the social revolution, and now there is not enough social products to buy, or money to buy them with. We worry about Global products coming to America that are not made to the standards we employ.
What we need is a brand new idea that will enthuse people globally. We need to find out what our customers want - and then deliver. Customer Service training is so important now, due to if your company makes a mistake with a customer, there are always others vendors to buy from. If we continue to see companies closing, the conglomerates just get bigger due to less competition.
Is this serving the needs of the people?
Thinking back in hindsight now, it may have not have been wise advice. Since a lot of the American stock market companies were exposed to international markets, and we are in a global recession, there is no where to put your money.
Capitalism and inventors of products that will improve the American and Global way of life is where we need to focus. We will not be able to return to the industrial revolution overnight in America. We changed to the social revolution, and now there is not enough social products to buy, or money to buy them with. We worry about Global products coming to America that are not made to the standards we employ.
What we need is a brand new idea that will enthuse people globally. We need to find out what our customers want - and then deliver. Customer Service training is so important now, due to if your company makes a mistake with a customer, there are always others vendors to buy from. If we continue to see companies closing, the conglomerates just get bigger due to less competition.
Is this serving the needs of the people?
Thursday, January 29, 2009
Credit Card Crunch
Are the credit card companies who extend us credit, tightening their belts? It seems like no one is immuned. People who have paid their credit card bills, now have to worry about which store they shop in for fear that American Express will decline them any more credit. Even worse, they will decrease your credit, which in turns lowers your credit score. This according to a piece on GMA yesterday morning. Also Fabolous, according to Bossip, had to pay cash for his champagne, along with his entourage, due to none of the 5 credit cards he used were accepted.
The United States has been turning into a cashless society for a long time. You are at the hands of the companies who are providing that cashless society. Cash is still king and we as Americans should find and keep cash. It may come down to bartering someday, if we can't get credit and the cash is not worth the paper it is printed on. What are we really worth?
The United States has been turning into a cashless society for a long time. You are at the hands of the companies who are providing that cashless society. Cash is still king and we as Americans should find and keep cash. It may come down to bartering someday, if we can't get credit and the cash is not worth the paper it is printed on. What are we really worth?
Wednesday, January 28, 2009
TARP Crunch
The TARP Troubled Asset Relief Program sounds like it was designed to help companies that have troubled assets. What would you call a troubled asset? A company that sells office space for example, and cannot find renters? A manufacturing plant that has the equipment, but not the money to purchase raw materials? To me that sounds more like troubled assets, than a bank that wants to give out salaries between $150,000 to $250,000 a year, but a bonus of up to 1 Million or more. Well, if they would only use the services of RCM, we could do a cash is King Checkup and find out where they could make money within their own company. We would even put their lavish furnishings on EBAY and sell it to the highest bidder. We also would have them engage in Best Practices and the Accountability systems we sell. www.rcmorganize.com sees a lot of troubled companies looking for ways to find cash in their business, the banks seem to view it as how much cash can everyone else give to them, so they can spend it. No wonder our savings rate is so low.
Tuesday, January 27, 2009
Cash Crunch
The news is full of stories of the cash crunch that America is facing. Citibank today may not take possession of the $50 million dollar plane it purchased from France. If the collapse of the banks during 2008 were not known, the purchase of the plane probably would not have made news here. What is France to do now that they will not get the money? Or will they?? Did Citibank have to put a down payment for this plane? Will France force Citibank to pay and we will not hear of it. Citibank stated that the money that was to be used for the plane had nothing to do with the 20 billion that it got from the taxpayers. I did not get a thank you letter, did you?
The cash crunch is everywhere and in our pockets. We will continue to see poor cash decisions turning into Government takeovers and bailouts. The tarp just got bigger.
Check out our website www.rcmorganize.com to get tips on Organization, Motivation and Building your Kingdom
The cash crunch is everywhere and in our pockets. We will continue to see poor cash decisions turning into Government takeovers and bailouts. The tarp just got bigger.
Check out our website www.rcmorganize.com to get tips on Organization, Motivation and Building your Kingdom
Subscribe to:
Posts (Atom)
Seed Newsvine