August 23rd, 2010
The Platinum Rule – the Rule You Need for Business
We all grew up with The Golden Rule, something on the order of “do unto others as you would have them do unto you.” While this sounds nice, you may notice a flaw in the thinking. I, for instance, like “toys” – you know, mp3 players, computers, techie stuff in general. Get me a new toy and I’m a happy camper. My friend Anne, on the other hand, uses technology no more than she must, but loves gardening. In this context, doing unto her as I would have her do unto me is doing her no favor at all.
Thus, The Platinum Rule: Do unto others as they would have you do unto them!
Simple, really. Give people what THEY want, not what YOU want.
Posted in BUSINESS ADVICE FROM BOOKKEEPERS-PLUS, Business Tips Of The Day | No Comments »
August 14th, 2010
You have often read on this blog about 3 MUSTS of Business:
SALES – CASH FLOW – PROFIT
So now I’ll contradict myself, since Not-For-Profit organizations, those with 501c3 tax status, aren’t ALLOWED to have profits.
Yet they still need Sales, though that term may not be used. They still need Cash Flow in order to function. And, in most cases, they need something that a commercial business does not, i.e. FUNDRAISING!
Many are quite adept at this. Many others…Not so much. If your nonprofit fits the latter description, perhaps it should look at QuickBooks NonProfit Edition for its bookkeeping, and GiftWorks for its Fundraising and Contact Management. These are the two most popular tools in the marketplace and, many would say, the two best.
If you are interested in more information about how to incorporate these tools into your Not-For-Profit organization, feel free to contact me.
Posted in BUSINESS ADVICE FROM BOOKKEEPERS-PLUS, Not-For-Profit | No Comments »
August 7th, 2010
In the movie “Confessions of a Shopaholic,” the two main characters first meet at a hot dog cart in Manhatten. In this scene, Luke gives Rebecca $20 just to get rid of her. She comments “You just spent $20 on a hot dog,” to which he replies “Sometimes Cost and Worth are very different things.”
How much is something worth? Most often, it depends.
If you were about to collect a million dollars, you’d gladly pay $1000 to get the last cab that could get you here in time.
If the reports for your best client were due Monday morning, you’d not hesitate to pay extra to get your computer fixed on Sunday!
Yet, Value is not always about money, either. If it were, nobody would pay more to get a more comfortable car. Everyone would hire the cheapest CPA or attorney and “Damn the quality of their work!” There are people who travel ten miles out of their way to save ten cents on a gallon of gas. Good price? Sure. Good value? Not so much.
The next time you need to make a judgment about how you spend money on your business – for equipment, supplies, vendors, professional services…just about anything – consider the Value.
“When it absolutely, positively has to be there overnight…”
Posted in BUSINESS ADVICE FROM BOOKKEEPERS-PLUS, Business DOs & DONTs | 2 Comments »
August 1st, 2010
I grew up with a guy who made National Honor Society, was acceptd to all the best undergrad colleges and the top grad schools. He was an academic genious. But Saichel (Yiddish for Common Sense)? Not so much.
He decided to start a small business. I had been pretty successful moving in that direction, so he talked with me and chose to follow a similar path. So far, so good. UNTIL…he selected a house cleaning business. No matter how hard I tried, I could not convince him that he’d better like doing whatever his business did, cuz some days, fer sure, he’d be doing the work himself. Sadly, my reality came to pass, and my friend (who had never in his life even cleaned up his own room!) found himself closing his business and digging his way out of $100,000 of debt!
My point? CHOOSE A PATH YOU WANT TO FOLLOW! Your odds of financial success increase by orders of magnitude when you’re income depends on doing something you enjoy. and – perhaps even more important to your life success – you’ll be a happier person.
Posted in BUSINESS ADVICE FROM BOOKKEEPERS-PLUS, Business Tips Of The Day | 7 Comments »
July 25th, 2010
A comment was made at a meeting the other day about how important it is for an organization to maintain contact with its customers/clients/patrons. This is NOT News. It is about as basic a business principle as there is.
A day later, I was in contact with an organization that was about to debate raising some of its prices. Naturally, I laid my “Stay In Touch & Ask Questions!” BFO on them, to make two points:
1) If you want to know how your clientele feels about something, there is no better way to find out than to ASK THEM!
2) This is a great chance (a.k.a. excuse) to STAY IN TOUCH!
Most business relationships are lost, not on the basis of a dispute, but simply because “nobody called.” Like many other valuable business tricks-of-the-trade, this is not widely practiced.
Just like life…If you want to know what someone is thinking, Ask Them! More often than not, they’ll appreciate your interest and be glad that you Stayed In Touch. BFO!
Posted in AFD and Other Fun Phrases, BFOs | 5 Comments »
July 20th, 2010
Nonprofit organizations have all the bookkeeping needs of any other entity, plus a bunch of extras.
For example, they have to report for each program, as well as for the whole organization. And the FASB (Financial Accounting Standards Board) added a number of standards just for nonprofits.
What this means is that they require specific bookkeeping skills. Many bookkeepers lack the know-how, or the software for this.
But wait! There’s more!
Most Nonprofits deal with fundraising, and most do it poorly. Again, experience, AND the right software, are needed to be effective.
Bookkeepers-PLUS offers both, with years of experience with the bookkeeping, and QuickBooks software specific to nonprofits.
Nonprofit? We’ll help Raise Your Funds!
Posted in Uncategorized | 10 Comments »
July 17th, 2010
or laugh!
A colleague commented on one my recent blogs, complimenting me on the humor I bring to the world of business.
The reality is that weird, scary, unpredictable things happen just about every day in every small business. The entrepreneur’s choice is to live in a state of constant fear and anxiety, or become adept at finding the humor in the event(s) du jour. When it comes to employees, most small business owners have suffered the feeling that “Help” is a one-word oxymoron.
Before you start or acquire a new business, or hire your next employee, enhance your sense of humor (or get a supply of nitrous oxide from your dentist). Deal with the all the craziness, but be sure to sit down and have a few yucks about it before quitting for the day.
Posted in BUSINESS ADVICE FROM BOOKKEEPERS-PLUS, Business Tips Of The Day | 10 Comments »
July 12th, 2010
Intention – What are you intending to do? i.e. What is your Goal?
Attention – What are you paying attention to, given that intention? i.e. What are your Measures of progress?
The late John Wooden coined the word “Intentness,” and used it in his Pyramid of Success. His lesson? That paying attention to your intentions leads to the actions that result in success.
So take these two very simple and important questions and apply them to all areas of your business life:
(1) What is your intention?
(2) What are you paying attention to in order to see that you are making progress toward your intention?
One nice thing about Intention is that it is what YOU choose. It is as big or small as you desire. It is customized to you, by you. It is as ambitious as you want.
And here’s the bonus. When you have clear intentions (to which you are paying attention, of course), you will attract opportunities and people. The pull of commonalities is powerful. But, remember. Negative intentions are just as sticky as the positive ones. Aimless, goal-less, ambitionless people also gravitate to one another. Your network spirals up or down depending on YOU!
What is your intention today? Tomorrow? And are you paying attention to your progress?
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July 6th, 2010
I developed a list of 10 reasons to hire me as a bookkeeper, and I’ll share 3 of them today.
1. YOU should focus on the business of making money.
Having a Bookkeeper allows you to be more profitable by allowing you to concentrate on your business, not the mundane tasks that are inherent in business. Making money is what business people do, and the more time they spend on their business, the more money they make.
2. YOU need highly trained personnel.
I am a professional bookkeeper. You’re not. You do what you do better than I would. The reverse is also true. If you’re a better bookkeeper than mortgage broker, insurance pro, or whatever you do, you should change jobs and become a bookkeeper. Otherwise, you should hire me. I’ll save you time…AND MONEY.
3. I am much more entertaining than sitting down by yourself to struggle with bookkeeping.
Posted in BUSINESS ADVICE FROM BOOKKEEPERS-PLUS | 3 Comments »
June 28th, 2010
What’s Your Point? is my AFD (Acronym-For-The-Day).
Business communication is often misleading, or just plain wrong, usually out of carelessness. Before you send a message, consider your Point, and whether your communication conveys it.
For example, DON’T tell me to buy your 12mp camera instead of a 4mp camera because it’s three times as good. That just MIGHT NOT be true, and I MIGHT find that out.
When I do, you’ll wish you’d been more careful about your message.
Posted in AFD and Other Fun Phrases, BUSINESS ADVICE FROM BOOKKEEPERS-PLUS | No Comments »
