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Casual Articles - Budgeting For Your Success
When Phil hires a new helper for one of his construction projects, he first watches to see whether or not the newcomer has the right attitudes and habits to keep him as an employee. And, if the newcomer meets expectations,' Phil introduces him to his philosophy about work by telling him the woodcutters story.Two woodcutters who are working together for the first time, set off in the morning to cut down trees. One woodcutter works very hard, and aside from a couple of breaks, works steadily all day.The other woodcutter, though, seems to take many more breaks, at least one every hour. So the first woodcutter expects he'll have cut down many more trees by the end of the day.But, when they quit for the day, the first woodcutter finds, to his surprise, that the second woodcutter has done more, despite taking all those breaks. And, in his frustration, the first woodcutter wonders out loud how the second woodcutter did it.The second woodcutter couldn't help but hear the first woodcutter's question, and replies, "Yes, I take many more breaks, but every time I take one, I sharpen my axe."Phil uses this story of the woodcutters to explain his ideas about productivity, and he doesn't relate it to the productivity which economists refer to in their statistics.Phil thinks of productivity in a very immediate way: how many nails you can drive in one hour, for example. The economists are talking about the same thing, only they're talking about it as the sum of many millions of businesses and organizations, so they're talking about productivity in an abstract way.Whatever the case, productivity simply refers to the amount of value you can get from labor, land, or capital (invested money). As we'll see in the next section, Phil's income goes up when he (and his helper’s) productivity goes up.Increasing productivity across a whole nation is also good news. It means everyone in society becomes more prosperous, that everyone (or almost everyone) will have more money to spend or save.Increased productivity ca
2) Learn and develop a realistic budget for what your indirect and ongoing monthly costs will be. These include such things as setting up a home office if you don’t already have one, phone costs, additional training and seminars, travel, leads,
Last month I went out and bought a shiny, brand new car. The car’s nice, but I wanted to share my experience with the sales rep I worked with, and the dealership that ultimately took care of me by not really taking care of me. And it wasn’t so much that I was at the dealership for 4 hours, they had no snacks to eat or that I was shuttled between two competing sales reps, it was the way I was treated after the purchase.Once the paperwork was signed, the sales rep was far more interested in getting referrals from me that ensuring I was treated remarkably. In order to make sure that he was foremost on my mind when I left the dealership, the sales rep gave me a stack of his business cards that could have weighed down an elephant. I guess his thought was, “The more cards I give him, the more he’ll pass out and the more customers I’ll bring in.” He then explained that for each sucker, I mean person I got to buy a car from him he would present me with $100 – wow, that’s roughly .027% of the purchase price! As you can guess from my tone, I recycled his cards and didn’t give him a second thought.The sales rep had the car detailed, put a full tank of gas in it and gave me 10 coupons I had to fill out and mail in to maybe win a prize. That’s it, nothing memorable and nothing remarkable. Now I bought a nicer car this time, in fact the nicest I’ve ever owned, but that really shouldn’t matter no matter what kind of car I bought. I got the “run of the mill” treatment and yet the sales rep wants me to talk to all of my friends and colleagues about him. Ironically, had he been genuinely concerned about providing remarkable service I would have kept his business cards and yes I would have sent people his way.I know what you might be thinking, “He didn’t do badly”. I’d have to agree with you, but I am reminded of something Seth Godin, a leading marketing guru wrote in his book Free Prize Inside, “Being good is bad”. My sales rep was okay, he was “good”, but he wasn’t memorable or remarkable, and that’s just good
Aside from eliminating the need to pay for office space, warehouse space, a restaurant, storefront, etc., the average home business also typically requires a much smaller starting investment. This is especially true of network marketing, where most business opportunities cost under $1,000 to get started in, though some network marketing opportunities do cost more.
Some home business opportunities involve an initial cost well under $100, and may even advertise “free” signup.
Unfortunately, the lure of such low entry costs often causes people to overlook the bigger, long term picture.
This short article will cover three areas regarding budgeting that many people commonly overlook:
1) Make sure that you understand the total direct startup cost. “Direct” is defined here as what you’ll pay to the company you are signing up with.
2) Learn and develop a realistic budget for what your indirect and ongoing monthly costs will be. These include such things as setting up a home office if you don’t already have one, phone costs, additional training and seminars, travel, leads,
If you take some time to think about the big picture story around options backdating, here are some patterns that emerge. Each is valid, and has some merit, but it gives you some reason why the general public is still not interested in the story and outraged by it, but the media and some institutional investors are.1. CEO and Executive pay: Realistically speaking this is a weak argument at best. CEO pay has always been big and its getting bigger because lot of these executives have big risk jobs and are responsible for millions or billions of $ and thousands of employees. Add to this the legal ramifications of doing a bad job, their job is not easy. Fortune's Rick Kirkland wrote a piece on CEO pay and its an interesting read, but still does not offer any solutions.2. Full Disclosure of pay for executives: SEC chairman Christopher Cox has stated full disclosure guidelines will be issued soon, and the "perks" that executives get do add up, but still this argument is also not very strong. There will always be the CEO parachute deals, and tax perks etc. Again we fail to see this being the big change force.3. Better internal controls: Most companies before SOX did not have the best internal checks and balances processes for ensuring these "issues" were tracked, reported and managed. Accounting, Finance and Legal were mostly "side roles" to Sales, Marketing, Manufacturing and Engineering. Lack of internal controls is an issue for most companies that they need to fix. Its in our opinon this is a good but not the big "a-ha" compelling argument.4. Poorly stated guidelines around gray areas: That's why they are called gray areas in the first place. Most auditors and legal firms use "judgement" around these areas such as grant and enforcement dates for options. The SEC's has stated they will have better guidelines around summer '06. This is also not a compelling argument for backdating not getting a bigger attention and outrage from the public.5. World cup Soccer: (grin) - We made this up. Newsweek had a piece about why this
Aside from eliminating the need to pay for office space, warehouse space, a restaurant, storefront, etc., the average home business also typically requires a much smaller starting investment. This is especially true of network marketing, where most business opportunities cost under $1,000 to get started in, though some network marketing opportunities do cost more.
Some home business opportunities involve an initial cost well under $100, and may even advertise “free” signup.
Unfortunately, the lure of such low entry costs often causes people to overlook the bigger, long term picture.
This short article will cover three areas regarding budgeting that many people commonly overlook:
1) Make sure that you understand the total direct startup cost. “Direct” is defined here as what you’ll pay to the company you are signing up with.
2) Learn and develop a realistic budget for what your indirect and ongoing monthly costs will be. These include such things as setting up a home office if you don’t already have one, phone costs, additional training and seminars, travel, leads,
If you think you can't get funding for your business, think again. Many small businesses need only small sums of money to get moving or continue operation for things like meeting payroll, upgrading a website or much needed technology.Having a line of credit would be a perfect solution for these challenges. But very often when it comes to asking for help, small business owners count themselves out of the game before they even try. A line of credit could put you on the road to fluid cash and success sooner than you think.What Is A Line Of Credit?Small business credit line financing, also called an operating loan, provides a business with money to cover day-to-day expenses. As funds are used, the established credit line is reduced. Once approved, you can access your revolving line of credit with a quick phone call or provided checks.Where To Find OneDid you know you could qualify for an SBA Express Loan line of credit through your local bank? The Small Business Administration (SBA) offers promising businesses that might not otherwise qualify for business loans the chance to get the money they need to make their business continue to succeed. The loans are obtained with no collateral and minimal paperwork. Within 36 hours, you will know if you qualify.Real ResultsGayle Naftaly, owner of Access Office (www.accessoffice.net) wanted to grow her business support company by developing a new logo, website and marketing materials. She was surprised to find out how easy it was to receive a line of credit at her local bank. She says that a good credit score was all she needed, and after just a few days she had the money she needed. "Business has tripled in gross sales since then with more clients, bigger clients and I now have better cash flow" says Ms. Naftaly. What makes a line of credit great is that it stays with you. It is something you use on an as-needed basis. As Ms. Naftaly says, "If you can manage money, a line of credit will definitely help you grow your business. You use it, replenish it a
Some home business opportunities involve an initial cost well under $100, and may even advertise “free” signup.
Unfortunately, the lure of such low entry costs often causes people to overlook the bigger, long term picture.
This short article will cover three areas regarding budgeting that many people commonly overlook:
1) Make sure that you understand the total direct startup cost. “Direct” is defined here as what you’ll pay to the company you are signing up with.
2) Learn and develop a realistic budget for what your indirect and ongoing monthly costs will be. These include such things as setting up a home office if you don’t already have one, phone costs, additional training and seminars, travel, leads,
There are several types of online resume formats that can be used when contacting potential employers. When you search for job openings online, some companies will have on their websites which online resume format is acceptable.If you don’t know which format is acceptable to a certain company, call them and ask. The worst thing you can do is send an online resume in the wrong format and have it ignored.PLAIN TEXT RESUMEThis format is also referred to as ASCII. Many companies used to accept this type of resume a few years ago when searching for a job on the internet was still new. When this format is used, the resume is written in plain text with no formatting. The resume is sent in an email to the employer.Unfortunately, because the resume is unformatted, it looks pretty ugly and is hard to read. With the advancements in word processing and email functions, companies are turning towards more professional looking online resume formats.PDF RESUMEThis type of resume is delivered to the employer in PDF format (Portable Document Format). You write your resume in Microsoft Word or some other word processing program, format it, convert it to PDF and save it. The file can be sent by email as an attachment. The employer needs to have a PDF viewer or Adobe Acrobat in order to view it.Sometimes this can pose a problem because of computer viruses. People are wary about opening attachments to emails. If the employer wants you to submit your resume by this method, go ahead and do it. More than likely, they have software that can detect viruses in attachments.WEB PAGESome people use a single web page to display their resume. You have your own personal website. You write your resume in HTML format, upload it into your own website and give the URL address to employers so they can visit your web page and read it. This takes care of the problem of email viruses. Make sure this is acceptable to the employer.
This short article will cover three areas regarding budgeting that many people commonly overlook:
1) Make sure that you understand the total direct startup cost. “Direct” is defined here as what you’ll pay to the company you are signing up with.
2) Learn and develop a realistic budget for what your indirect and ongoing monthly costs will be. These include such things as setting up a home office if you don’t already have one, phone costs, additional training and seminars, travel, leads,
In this segment on medical billing, believe it or not, we're over 80% through our review of the GU0 record, or CMN. This is the longest CMN for electronic billing using NSF 3.01 specifications. In this installment we'll be picking up our review of the GU0 record with field number 59.GU0 field 59, position 263, is Reply NUM L01 N01. This field refers back to the first question on any DMERC certification requiring a one position numeric response. The key here is the word numeric, as up until now, all the other responses were alpha or character responses, meaning they could be either numbers letters or spaces. The following forms are supported by this field. For form 01, the following responses are valid. A 1 for stage one, a 2 for stage 2, a 3 for stage 3, a 4 for stage four, or a 9 to designate that there was no ulcer or pressure area.For form 08, the following responses are valid. A 1 for heart, a 2 for liver, a 3 for kidney, a 4 for bone marrow, or a 5 for lung. This is to designate the type of transplant. This field cannot be left blank if a transplant was done.For form 09, the following responses are valid. A 1 for external infusion pump, a 3 for implantable infusion pump and a 4 for disposable infusion pump. This designates the type of pump used.For form 10, any response 1 - 7, is valid. This is to designate the number of days infused.GU0 field 60, position 264, is Reply NUM L01 N02. This field is the reply to the second question on any DMERC certification requiring a one position numeric response. The following forms are supported for this field. For form 01, the valid responses are 1 - 4. This shows the stage of the pressure area or ulcer. For form 08, the valid responses are the same as for field 59, form 08. This is in case there was a second transplanted organ. For form 09, the valid responses are 1, 3 or 4. These replies coincide with field 59, form 09. For form 10, the valid responses are 1 - 7, which also show the number of days administered in a week, similar to field 59, form 10.
2) Learn and develop a realistic budget for what your indirect and ongoing monthly costs will be. These include such things as setting up a home office if you don’t already have one, phone costs, additional training and seminars, travel, leads, advertising, etc.
3) You MUST reinvest back into your business in order for it to grow!
Let’s take a closer look at the three areas outlined above.
DIRECT STARTUP COSTS
This includes your signup fee, any basic kit of sales and/or training materials that you are required to purchase (or strongly advised to), any training that you are required or advised to purchase at the time of signup, and, a big one to avoid in most cases, a required initial amount of product or inventory.
Try to get as much information ahead of time about what you’ll really need to spend in order to be successful. Very often opportunities emphasize a low startup cost, but either the company, its literature, or those representing it fail to fully inform prospective representatives of additional expenditures that you need to make in order to advance and/or maintain your position with the company.
Again, be extremely careful, if not shy away from altogether, opportunities that try to get you to invest large amounts ( more than a few hundred dollars ) in inventory, samples, etc., or that commit you to purchasing expensive
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