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Casual Articles - Entrepreneurs Know Fixed Costs Will Eat Them Alive
“Life is a movie and you’re the star, give it a happy ending.” Joan Rivers the actress and comedienne said that and it really applies to dealing with and coping with change in your organization and life. I learned about this as a Marine sniper in the jungles of Vietnam. I might have found myself there as part of the United States Marine Corp but what I made of the experience was up to me. It is serving me to this day.When you are leading or managing change the people under your charge will have varying re
Today, thanks to the availability of easier credit (provided you personally agree to repay if the business can't) it may be difficult to determine which deal or which alternative is b
Martin Luther King, Jr. said, "I have a dream," and what followed was a vision that changed a nation. That famous speech is an excellent example of the power generated by a compelling vision of the future. A vision clarifies purpose, gives direction, and empowers us to perform beyond our resources. Unless you know where you are going you cannot get there. You don't "need" a vision, or a mission statement, but those people with clearly defined visions experience greater success than those who haven't a
How to Evaluate and Profit from a Business Opportunity - The Entrepreneur's Guide
By Art Consoli
Fixed costs; those costs which are attributable to commitments for equipment, buildings, employment contracts, notes payable, and other items of this type require payment regardless of sales or profits, or the availability of cash to make the payments. The term is very descriptive and defines a heavy responsibility on the business owner.
The documents that cover such agreements can include language that give the other party very strong rights to payment and the ability to take possession of other property the business might own.
Successful entrepreneurs know that there are many ways to avoid taking on fixed cost obligations but all the alternatives normally come with a higher immediate cost. They know that they can usually get a mortgage on a building at a cheaper monthly cost than they can rent the equivalent space for on a short-term rental agreement (usually defined as less than a year.) But they know it's better to pay more now and wait to see how secure the business' cash flow will be.
Successful entrepreneurs also know that it may be better to buy used equipment and have higher monthly maintenance and repair costs than to take on the purchase contract for a new piece of equipment.
Today, thanks to the availability of easier credit (provided you personally agree to repay if the business can't) it may be difficult to determine which deal or which alternative is be
You’ve seen the commercials and web sites about starting medical billing businesses in your home. You can’t just start calling doctors and telling them you will take care of the billing for them. It is their income and they want to know you are a true business and that you have experience. So, before any thing else, look into classes to help you get those medical billing jobs.There are several ways to be certified. One is to go to your local community college and see if they offer a medical billing bu
The documents that cover such agreements can include language that give the other party very strong rights to payment and the ability to take possession of other property the business might own.
Successful entrepreneurs know that there are many ways to avoid taking on fixed cost obligations but all the alternatives normally come with a higher immediate cost. They know that they can usually get a mortgage on a building at a cheaper monthly cost than they can rent the equivalent space for on a short-term rental agreement (usually defined as less than a year.) But they know it's better to pay more now and wait to see how secure the business' cash flow will be.
Successful entrepreneurs also know that it may be better to buy used equipment and have higher monthly maintenance and repair costs than to take on the purchase contract for a new piece of equipment.
Today, thanks to the availability of easier credit (provided you personally agree to repay if the business can't) it may be difficult to determine which deal or which alternative is b
Self builds offer people the chance to obtain their dream home at a reasonably affordable price. As a result, more and more people are turning away from property development in favour of pursuing self build projects.The new trend in self builds is a direct result of rising property prices and housing supply shortages. Indeed, there has been a huge decline in commercial house building since the 1970s, which the government has tried to resolve by setting a target of 3.8 million new homes by 2021.Many
Successful entrepreneurs know that there are many ways to avoid taking on fixed cost obligations but all the alternatives normally come with a higher immediate cost. They know that they can usually get a mortgage on a building at a cheaper monthly cost than they can rent the equivalent space for on a short-term rental agreement (usually defined as less than a year.) But they know it's better to pay more now and wait to see how secure the business' cash flow will be.
Successful entrepreneurs also know that it may be better to buy used equipment and have higher monthly maintenance and repair costs than to take on the purchase contract for a new piece of equipment.
Today, thanks to the availability of easier credit (provided you personally agree to repay if the business can't) it may be difficult to determine which deal or which alternative is b
As an IT consultant looking to go solo, how you can cut through the information overload so you can tune out the distractions and focus on only the most relevant, critical tasks for starting up a business? You need to first realize you may need to stop spending time on things that are not making you any money.Adjust Your PrioritiesIf you are serious about starting a business as an IT consultant, you will have to adjust your priorities and manage your time better. When you’re first starting out, e
Successful entrepreneurs also know that it may be better to buy used equipment and have higher monthly maintenance and repair costs than to take on the purchase contract for a new piece of equipment.
Today, thanks to the availability of easier credit (provided you personally agree to repay if the business can't) it may be difficult to determine which deal or which alternative is b
If you are an entrepreneur with a small food or beverage company looking to take it to the next level, this article should be of particular interest to you. Your natural inclination may be to seek venture capital or private equity to fund your growth, but that might not be the best path for you to take. We have created a hybrid M&A model designed to bring the appropriate capital resources to you entrepreneurs. It allows the entrepreneur to bring in smart money and to maintain control.We have taken the exp
Today, thanks to the availability of easier credit (provided you personally agree to repay if the business can't) it may be difficult to determine which deal or which alternative is best for you. But the lenders are all trying to get your business so it may be possible to define the deal you want and go shopping for the lender that will accommodate you. One of the points I found easiest to negotiate is the percentage of the repayment I would personally agree to make. Lenders were quite willing to accept my offer to guarantee the top twenty or thirty percent of the obligation and then look only to the business for the remainder.
Some business owners escape the fixed cost of equipment by hiring more people. They figure that it may cost a little more to have the work done by hand until the business is doing well enough to buy equipment. I have no problem with this approach if there are other places in the business to use the people afterwards -- say another new product that needs some time to become a predictable revenue generator.
But when the business owner uses people as though they were expendable, hire them today, let them go tomorrow, I have a problem.
I believe that people are what make things happen and that good employers attract better people. When I hired somebody, I viewed that decision as making a long-term commitment to that person. I delayed hiring until I was positive that I needed that person for the long haul. I used overtime
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