The true story of a Street Urchin who made a fortune from
nothing. (c) Harry S Richards
As kids in a poor part of town, we collected all kinds of junk
to sift through and hopefully resell. Sometimes we were lucky,
but mostly we were told to "get lost" with unprintable words to
that effect. There was no spare cash at all, so we just had to
use our wits to make some. Fortunately, I banded with a group of
similar street urchins who were reasonably honest. We just
wanted to get some cash without an...
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July 4th, 2009 in
Business
No Cash for a One Horse Race - a real life business venture
story
© 2005 by Harry S Richards
The kind of calls I get from the Helpline Service I have
operated for the past ten years would leave many speechless.
Just last week I received a call from a client who said that he
wanted to start a small business venture but had no cash at all.
He was so excited with the prospect of the proposed business
that he insisted on telling me all about it. He had every reason
to be excited because it seemed...
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July 3rd, 2009 in
Business
"If it can be manufactured, it can be leased." For the past
decade or so, this statement has become more and more true to
fact. From computer software to commercial aircraft, equipment
leases are utilized day in and day out in a constantly changing
and highly aggressive business environment worldwide. To gain or
to keep the edge over their competitors, companies of every type
and size are constantly looking for creative ways to conserve
working capital while expanding operations. Many have turne...
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July 2nd, 2009 in
Business
For small business owners, an enthusiastic vision for smooth,
steady growth can become nothing more than a mirage once company
cash flow problems begin to heat up. Most will struggle with the
timing of payment from clients or customers at some point, all
while attempting to pay their own bills in a timely fashion.
With all of the best laid plans for rapid flowing cash streams
evaporating down to just a gurgle in the ditch, the potential
risk of joining the ninety-percent of businesses that fail
...
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July 1st, 2009 in
Business
Although we are in the information age, very few people have
been able to turn the colossal amount of free accessible
information available online, into cash or business success.
a) Specialize
One of the reasons for this is that there is actually too much
information available online. Actually so much of it that it
gets overwhelming sometimes. When you consider that there are
about 40,000 new blogs being launched daily, and that is not
even counting the new websites or the updates going in in ...
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June 30th, 2009 in
Business
Copyright 2005 Pam Newman
Cash is King'That is what everyone tells us and it is true! You
cannot function successfully in any business without proper cash
flow. So if this Cash Principle is so well known, then why is it
that so many businesses struggle? Sometimes the obvious is not
always so obvious when you are entrenched in running the
day-to-day aspects of your business. Here are 7 Tips to Improve
Your Cash Flow!
1. Cash and Carry. Operate a cash and carry type business versus
worrying about ...
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June 29th, 2009 in
Business
When starting a business, you have to determine the method you
are going to use for accounting and paying taxes. The two
choices are the cash method and the accrual method.
Cash Method
If you are looking for simplicity, the cash method is probably
your best accounting choice. Generally, income and deductions
can be claimed when payment is actually received or made. This
is best shown with an example.
I open a small business and have to order business cards and
stationary. I receive the product...
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June 25th, 2009 in
Business
Hot Deals at TheMall123 are widespread and colossal. The range
and domain of commodities are also huge. You name it at
TheMall123 and its there delivered on your doorsteps. Deals
include 4 percent rebate on products from AVON, 2 percent rebate
from eToys.com, 3 percent rebate from Target and the well known
Wall Mart. Now you can shop from the comfort of your home. Also,
the customers can choose to receive rebates on the products and
services either via pay pal or checks - a purely personal way t...
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June 23rd, 2009 in
Business
Managing cash flow is every small business owner's most
important function. Avoid these seven deadly mistakes to make
sure you aren't creating cash flow problems in your business.
1. Using the 'Fly By The Seat of Your Pants' Accounting Method.
When tax time rolls around do you find yourself pawing through
piles of paper on your desk looking for credit card receipts
from your business trip? Or are you upside down digging under
the seat of your car trying to figure out where all your gas
receipts ...
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June 22nd, 2009 in
Business
Recently one of my clients told me the chaos swirling through
his company was the result of poor cash flow. If only he had
more money, his company would run better.
I must respectfully disagree.
Poor business processes produce chaos. Chaos leads to poor cash
flow. Fix the poor business processes and the cash flow problems
disappear.
What business processes am I talking about?
1. Having a clear picture of who your client is.
Here's what my client looks like: My client is a small business
owner lo...
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June 21st, 2009 in
Business