Category Archives: Financial

Ready, Set, Go! 2016 Has Started, Are You Ready?

| January 26, 2016

I came across an article by a business broker that seemed to echo my theme when I do the first of the year Summit. Here’s how he starts out;

“Every January we all think about making resolutions such as: Losing weight, taking a vacation, moving our residence or even better relationships.

  • How about thinking about a Business Resolution for 2016?
  • If money were no object, what could you do to improve your business?
  • If you had a “not so good year”, what was the reason?
  • If you had a “great year”, what did you do to get there?

Can you … Read More

Your Money Experience

| September 29, 2015

moneyBy the time you flip the calendar to October, there will be 92 days left in 2015. It is re-evaluation time, especially in the financial area of your business.  Final taxes are due (did you wait this long?) The time is now for assessing your financial needs for next year.

Running a business is expensive, and controlling costs should be a constant priority. Simply start paying very close attention to where the dollars go, and use your wisdom and your accountant’s advice to make smarter decisions about what’s working and what’s not.

  • With your budget in hand: Analyze your short-term,
… Read More

Do Dreams Come True?

| March 31, 2015

As I was growing up, the only thing I learned to focus on because my parents said that was what was important was getting good grades. Maybe because I was more of a dreamer I experienced doing and having the things that dreams are made of. Goal setting was not formalized for me until later. But one of my members recently shared the real experience of setting the goal.

She had just gotten back from a wonderful trip she had set a goal for. She had spent the time setting money aside, planning the activities so she and her Mom … Read More

Build Your Business from the Inside

| August 29, 2014

Mind Masters Means BusinessThe first business I helped get off the ground was a temporary employment agency. It was a great learning experience especially when it came to all the information that flowed in. The temps were all “great” administrative assistants. I was good at getting systems set up but the flow of paper and files became daunting, since I was not schooled in handling clutter. What a wake up call when I couldn’t put my hands on a very important document.

Our success in business comes down to the difference between managing our work or letting our work manage us. We have … Read More

Are You a Tortoise or a Hare Entrepreneur?

| January 28, 2014

It is not always easy to tell the difference between the winners and the losers just by a casual look. When you consider the tortoise and the hare story there are valuable things you can learn.  They both gave their best effort but that is not the only thing that produced results. The strengths of the hare were speed, fun and a positive attitude that he could win.  The tortoise on the other hand was focused, had a positive attitude and had an expectation of success.

As we step into this New Year, what characteristics do you need to build … Read More

What Do You Tell Yourself?

| August 27, 2013

For years, I’ve ended meetings with the comment, “Have a Million Dollar Day.” It’s a little different than “Have a nice day,” in that it infers the power to make it great is yours–that outside circumstances don’t determine how good a day it is or isn’t.

But what MAKES it a Million Dollar Day? Everything in life starts with thought! As you think about the day ahead, how will you measure it? Most of us plan what we will do, but how many of us think about what will make it a truly successful day.

So what would it take … Read More

Know the Game You Are In: Keep Score

| October 30, 2012

Did you spend hours pulling together your tax records in preparation for filing your October tax return? It was agonizing watching one of my clients, a CPA, trying to get his clients to get him last year’s work?  Or worse yet hearing his frustration in the 11th hour when a client owed the IRS more money because they had failed to confer with him ahead of time to plan the right strategies.

Where is your business now in relation to this year’s financial goals?  Is your business surviving or thriving? Do you have your finger on the financial aspects of … Read More

Are the Sharks Biting?

| June 27, 2012

It’s Mid-Year! Are you ahead of the wave? Are the “sharks” at your heals? What keeps you on top?

My members know I enjoy watching “Shark Tank”, a group of successful entrepreneurs looking to get their teeth (and money) into more entrepreneurial endeavors. I watch in order to understand what investors look for in the individuals that present themselves.

Here is what I’ve learned:
1. How you present yourself says a lot. Can you tell your prospects in 90 seconds a problem-oriented, attention-getting statement about what you do? You may not be looking for investors, but you are always looking … Read More

Survive and Thrive

| October 4, 2006

To quote an old advertisement for financial software we agree that, “Of all the hats we wear as a small business owner, the accounting fedora itches the most.” We all market our time – so I hope all of you have put those 2005 taxes to bed and are focusing your time on the high priority, high pay off areas of your business in particular, making a profit. At the heart of maintaining a profit is your accounting system. (Ugh, Ugh). Most people get confused and frustrated with their finances and the major cause of the confusion is lack of … Read More

Investing in Your Business

| November 3, 2005

The question is always asked, how much should be spent on marketing and advertising. Some businesses start on a shoestring and grow rapidly. Others take hundreds even thousands of dollars and go at a snails pace. While I have never heard a hard and fast answer to how much you should spend, you need a strategy that will produce results for you.

The key here is not how much you spend, but that you consistently reinvest money in your business. Determine how much you can afford, is it $100 or 10% of your gross, or maybe for a new product … Read More