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The Five Words That Will Kill Your Service Business
“Is my vehicle ready, yet?” may seem like pretty innocuous words. However, these are the five little words that could hurt your dealership’s bottom-line. Anytime your customer initiates a call AFTER the promised delivery time, you have damaged your image in your customer’s heart and mind. Granted, if our answer is “Yes, Mr. Jones, I was just about to give you a call. We have completed all the work on your vehicle. You can come and pick it up at your convenience,” it may stem the bleeding. But if we say, “Oh, let me check. No, we haven’t gotten to your car. Boy, have we been swampe

nt the amount of personal money the owner has put into, and taken out of, the business. Notice the emphasis on the word personal - this means money generated outside of the business' activi

Influencing to Create Collaboration and Innovative Problem Solving - Key Success Strategy for Lean
Senior executives are increasingly concerned that their managers and supervisors have the skills needed to build cooperation and collaboration across departmental and authority boundaries. This is critically important in becoming Lean throughout the Enterprise.The competitive pressures in a global economy are so intense, and opportunities so fleeting, that no successful organization can afford to slow down because internal stakeholders fail to agree and work together in a common direction.Seizing opportunities and turning them into business success requires more than quick

If you are a sole-proprietor, you may have wondered about the Owner’s Draw account and how it works. I’ll try to explain it in a way that makes sense to people who use QuickBooks.

Owner’s Equity, Owner’s Investment, and Owner’s Draw - Defined

If you open the Chart of Accounts in QuickBooks, scroll down to the Equity accounts – normally about half way down. You may see one or more of these names: Owner’s Equity, Owner’s Investment, or Owner’s Draw. To make it easier to understand, we’ll say, for now, that the above terms are synonymous. Some accountants reading this may not agree, but I think for anybody who doesn’t understand what they mean, it’s easier to understand them if we use the terms interchangeably.

Here’s what I want you to know about the above terms: they all represent the amount of personal money the owner has put into, and taken out of, the business. Notice the emphasis on the word personal - this means money generated outside of the business' activit

Does Anybody Really Know What Time It Is? Using A Little Math To Make Your Presentations Sizzle!
The agenda states an end time of 2:00 pm, and yet it is 2:10 and the guy is still droning on with only 52 more slides to go in his presentation!You are told that you will have 30 minutes to present and now you show up and find out your time has been cut to 20 minutes because the person before you went over time.As the band, Chicago sings, “Does anybody really know what time it is? Does anybody really care about time?” Start your next meeting with this song and then share this mathematical formula to help the speakers for the next time.The average person speaks 150

, Owner’s Investment, and Owner’s Draw - Defined

Safeguards Agaist Employee Dishonesty
Losses through theft and fraud vary considerably by the type of operation and the efficiency of their management. To fully understand the cost lets look at the following example:Losses range, for example, from 1.5 percent of sales for a well-managed department store to about 13 percent for a loosely controlled operation. According to one estimate, dishonest employees account for over two-thirds of retail theft and shoplifting for the remainder. Even though you cannot eliminate stealing entirely, you can take steps to minimize it. The key lies in the proper mix of the right contr

hese names: Owner’s Equity, Owner’s Investment, or Owner’s Draw. To make it easier to understand, we’ll say, for now, that the above terms are synonymous. Some accountants reading this may not agree, but I think for anybody who doesn’t understand what they mean, it’s easier to understand them if we use the terms interchangeably.

What's the Measure of One Word?
It's absolutely essential that you find a way to differentiate your business in a meaningful way. I know I talk about this all the time, but it's that important.What if you interviewed a handful of clients and asked them this question: "What's the ONE word you would use that best describes what we do well?" Is it fast, attentive, welcoming, creative, cheap, cool, techie, smart, caring? One word is tough, but you need to get there. One simple word that sums up how you are different. If you can do that, and it's a word that means a lot to a lot, your marketing job will be significa

I think for anybody who doesn’t understand what they mean, it’s easier to understand them if we use the terms interchangeably.

Internet Marketing: A Reflection after One Year in the Business
As autumn and cold crawl their way into Canada and the sun sets before 4 p.m., this darkness and quietness bring along a time of reflection for all of us. The assessment I want to share with you is about internet marketing. Although my list of things to do seams never-ending, I am very happy to realize all I have accomplished in less than a year ( over 40 active web sites, a hypnosis for childbirth program that already got international recognition, over 100 published articles on the net, etc)I have been in internet marketing for a little less than a year and I have attended ten

nt the amount of personal money the owner has put into, and taken out of, the business. Notice the emphasis on the word personal - this means money generated outside of the business' activities.

Whatever the name, if it has a positive balance, this represents the sum total of personal money you’ve put into the business. If it has a negative balance, this represents the sum total of personal money you have removed from the business.

How much money can I draw out of the business for personal expenses? Is there a limit? Do I pay taxes on that money?

Sole proprietors may draw out as much personal money from the business as they wish, with no tax implications. Taxes are paid based on the profit of the business, not on the money the owner removes from the businesses for personal purposes.

Also, it does not matter how much money the owner originally invested. In fact, it’s extremely common for the owner to draw out much, much, more from the business than he/she ori

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So many contractors go out of business because their construction cost estimating is too low or too high. When the amount estimated in not high enough the company can lose a lot of money; when the estimate is too high you lose the job to a competitor and gain a bad reputation. When you become familiar with your construction cost estimating software, you will be likely to start to notice a few things here and there you would like changed or added.

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