For the love of the breed
TRULY
A valuable exercise to do when starting your own business or thinking of starting a business is to do a cash flow projection. I did one for class and it really puts things into perspective. If done realistically you may realize that you might have a great idea at hand that you could or should pursue, or maybe this wasn’t such a great idea at all. With mine the idea of a nonprofit pet rescue seems a lot more inviting than I thought there seems to be countless ways to generate revenue. Although I didn’t have any real numbers to base fundraising activities from so I used a small fundraiser and a large one.
Make sure you think of everything when preparing your projection sheet. Think of every and all expenses, and your intended sources of income for your business. For start-ups include your sources of financing and how much. On the other side list the payments to repay any loans and finance charges. This web can grow and grow. You may at this point want to think of more ways to generate income, everything helps. It’s a lot of work but there are templates available to do a lot of the calculations for you. As you add more numbers to your incomes and expenses you will see your profits come and go…better now than when it’s too late. You can incorporate and emergency expense, or even an unusually slow month. Make sure your numbers are realistic and you can get the idea of what your income or loss may be. Remember just because you see some great profits don’t go on a spending spree or give yourself a raise. You never know when life will happen. Whether it’s the sky falling or your roof, its best to be prepared with insurance, a back-up plan, and some cash. A great article about this can be found at https://www.americanexpress.com/us/small-business/openforum/articles/5-budgeting-ideas-for-every-small-business-owner-scott-allen/ Usual or unusual expenses read this http://junewalkeronline.com/info-advice-category/business-expenses-write-off-wrap-up/ There are cash flow templates on Microsoft Excel already formatted, just fill in with your figures and it will show you the money, or not! Good luck! And Happy planning!
0 Comments
actions amazingly attention brand buford business channel cloudwe've cola consider course customer customer-experience customer-service-should-be-your-first-branding-exercise decisions effort either enjoy expect fault ffmdcwyshz google happen identity image important keep lmxy lovers matter mighty monopoly negative niche nurture ones partners planet positive recognition recurring regards remember service stupid supplying tiny trading virtually wy
created at TagCrowd.com
At NW Bully Rescue we will always train and continue to mentor every employee and volunteer on how we want our customers to view us and how our company culture will hopefully rub off into the everyday lives of people and people we touch. We will encourage positivity, and show compassion in hard situations. We are not here to judge, we are here to help, and save animals.
I read an article called “Customer Service Should be Your First Branding Exercise”. This article weighed in on how critical customer service is and its effect on branding your business. With one thoughtless remark or not being empathetic toward a situation can cause a company’s BRAND to turn sour. We as professionals need to realize that to treat a customer bad, or not cater to their specific needs means just as much as saying we don’t like you, we don’t want your money, a paycheck, or your business! For most companies, there are many others that offer the same service or same products. So why should or why would they want to come back after a bad situation. When dealing with difficult customers remember you do not know their situation or what they've been dealing with in life. Or, maybe you've had a bad morning or week, but as a representative of your company you mustn't take it out on customers or let it show in your work. If possible take a break or switch tasks with someone that is not the front face of your business. Happy customers are key to your business success. Kill bad situations with kindness, empathy, and gratitude. Read more at http://www.business2community.com/customer-experience/customer-service-should-be-your-first-branding-exercise-0340666#WUHxDmzK6T5eZEYL.99 ![]() Today I read an article from Forbes.com titled “Making Sure You Eat: Paying Yourself As A Small Business Owner” written by one of the Forbes staff members Kelly Phillips Erb. Of course, the title caught my eye. What do you mean feed myself? I own a business of course I’ll feed myself. Have you ever heard someone say ‘it takes 5 years to make a profit’? I think I had at least 10 people rattle that off before I tried my first business venture. They also said have at least 3years of living money put aside if I wasn’t going to keep my regular job. Today with so many different business options and so many businesses you can start with little or no money and almost no overhead that may not always be true. Either way this article is worth the read. The writer Kelly Erb highlights that it’s very important that whatever you decide to pay yourself (a reasonable amount) keep it consistent. This reflects well on you as a business owner. When banks or creditors look at your finances, or investors, or IRS it’s a good idea to have your pay be consistent and at a reasonable amount. What’s reasonable? You can base it of off what others in your field make, you can also take in to consideration how much you work, and what your work actually consists of. Ultimately it’s up to you but Kelly says it’s a good idea to pay just enough. Whatever you pay yourself is taxable but if you need to put what you pay yourself back into the business the IRS will not be knocking on your door to give you a refund, you just lose that amount. Just as you keep a business account and a personal account don’t cross-spend, don’t buy your personal care items and groceries with your business card/account! It just doesn’t look good. If you like to check out the article click here http://www.forbes.com/sites/kellyphillipserb/2015/08/24/making-sure-you-eat-paying-yourself-as-a-small-business-owner/#2880de591f79
able accomplish achieve amount applications assumes attention based business completed contribute create daily details directly economize fall five-day functions give goals important include list management method mobile nuisance occurs ongoing order organize plan planner prioritize priority provide related required responsibilities sample simplify streamline tasks template things tool toward weekly work
created at TagCrowd.com
![]() Do you ever wonder how some people seem so organized and get everything done on time? Their house is spotless, the kids are all involved in sports, music, and dance all at the same time? These people still have time to go to the gym, go for a run with Fido, work a full-time job and be everywhere they are supposed to be on time? OCD? Superhuman? Super Smart? Robot? Some people are naturally organized but many, if not most need to plan, keep a list, and check their calendar. One start to organizing and planning is to set goals. Have you heard of SMART goals? SMART is used as an acronym to help you to realistically set your goals SPECIFIC > Think who? what? where? why? Answer that and you will have a specific goal. MEASURABLE> How many? How Much? If you know what you are trying to do then its easier to see or even more motivating when get close to your goal. Like a goal of $10,000 or 100 new clients. ATTAINABLE> Can I achieve this? Do I have the resources, skills, or knowledge? For instance the average person wont be able to raise a million dollars in a week. You wont be able to travel to the moon in six months. Relevant> Does this even align with what is going on now? Will it be worth the effort I put in? Is it Realistic? Time Bound> When will I start? Now? Next week? An when will I finish? You can also set times to check in to make sure you are on schedule. ****On Monday I will clean all the papers and off of my desk. The papers will be shredded or filed. I will finish this project by Friday. The next goal may be... ***I will keep my desk clear of debris and misc. papers by opening mail immediately, filing or recycling, all bills and invoices will go into appropriate file upon arrival. I will make sure desk is clear before leaving work daily. Using smart goals can help to keep you on track for little tasks like above and SMART goals make sure you are actually working on something you need to work on. Like you may not want to paint the office before you clean off the desk! You can spend years working on 10 different projects and never finish one. Setting goals, making a list, organizing those lists can all help move you to actually accomplish something! Remember to check to make sure and adjust your goals as needed. If I set a goal to place 15 pets per month into a forever home and I meet that goal every month, it is time to set a higher goal. |
JennaJust a girl passionate about animals and hates discriminations of any kind! ArchivesCategories |