Keeping good records always pays off in the long run
I remember my first visit to an accountant. I had three years’ worth of business records crammed into three shoe boxes. My poor accountant. Since then I have well and truly learned the lesson of keeping good records. Quite simply not keeping good records will cost you money, often a lot of money. Basically there are two lots of records that need to be kept in business—money in and money out. Read more
Understanding finances—taking control of your business (II)
Firstly, from now on question your accountant or bookkeeper about what everything in your business’ financial statements means no matter how silly you may feel. Get to know the terminology and decide whether you agree your books accurately reflect your business. It really isn’t that complicated. Read more
Business laptops – need to know requirements
Business models are shaped primarily on the technology that is available at the given time; as communication has expanded businesses have too taken the cue to globalise and trade across borders in ways that may not have previously been possible. In more recent times business men and women have found themselves stuck to a business model in which they were only able to conduct business from the confines of their desk; most of the work they would do throughout the course of a day could only be performed on a static immoveable computer. This model meant business could only be conducted in work hours when the business person was physically in the same room as their computer; programs and files would only be available at this time. Read more
Understanding finances—taking control of your business (I)
If you are like me the financial aspect of running the business is a chore. It is much more interesting and enjoyable to be at the business end—doing what you do. I would much rather be developing a marketing campaign for a client than talking margins and profit and loss or cash flow with my accountant. But this can be a little dangerous. If you don’t pay enough attention to your business’ finances it is very easy to get into a lot of trouble, often before you even realise you are in trouble. Read more
Business and Law
Law is important to run something. A country needs law to make the country and its citizens live regularly base on the rules and regulations. Law will arrange the government to run the country. In business, law holds the most important role too. If you want to be a successful entrepreneur, you should know how to run your business based on the government’s rules and regulations. If you want to open branches, you should study the laws in that country.
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