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Simple Ways To Increase The Value Of Your Business

As much as it is very satisfying to be your own boss and employ other people, it is just as satisfying to be able to see the value of your business increase over time. Remember that your business is a commodity that can be bought and sold just like any other commodity and in the same way that people are prepared to buy quality commodities at a premium the same applies to your business. Even if you are not ready to sell your business just yet, you still need to keep close tabs on how much it is worth on the market, if not just to measure how far your business has grown. These are a couple of tips that will help you increase the value of your business without costing you an arm and a leg.

Maintain Proper Financial Records

Make sure that you have a proper financial and administration management process within your business. Ensure that all financial transactions within your business are recorded and that the business has a monthly set of management accounts on record

Register Your Business With Relevant Authorities

Ensure that you are registered with all the relevant authorities that govern your business e.g Taxes, company registrar, annual returns, worker’s compensation fund, levies, health and safety etc

Keep A Clean Bank Record

As difficult as it may seem, especially when you are starting out, you need to maintain a clean record with your bank. Do not issue cheques if there is no money in the account, rather negotiate further credit terms from your creditors.

Be Adequately Insured

Make sure that you are adequately insured personally and as business, especially if you are the key person in the business and most of the proprietary business information rests with you.

Build Your Balance Sheet

As you grow the business, build your business’ balance sheet in terms of assets. If you can buy the premises that you do business out of rather than lease. Deposit spare cash (if there is any) in such instruments as call accounts, deposit accounts etc. Always be on the look out for short to medium investments that you can invest in should you have “spare” cash.

Hire Good People

Always hire good people even if they cost you a bit more than your typical average employee.

These tips will enhance the value of your business significantly if you follow them religiously and again they do not cost much. Also remember to pay always pay your taxes!

The Top 2 Reasons You Should Invest in Residential Real Estate

What is the number one reason you should invest in residential real estate? Since the colonization of North America, no other economic asset has produced as much wealth as real estate. And, no other asset has produced as many millionaires as real estate. Ask the likes of Leona Helmsley, the Springs Clan, George Washington, John Jacob Astor, Sam Zell, and others (a number of which are billionaires). They all made their millions in real estate and most had all or at least a large part of their wealth in real estate.

Besides reliability and consistency producing more wealth than any other asset. You should be considering residential real estate for a lot of other good reasons. First, what other asset provides an education in how to care for it in the general every day activities that we all cope with. Paying the gas bill, or electric bill, or water bill are part of having a home and are part of owning residential real estate. Maintenance issues like roof replacement, rotten wood repair, fixing the plumbing, unstopping the toilet, repairing broken locks, and so much more are simply part of every day life and… part of managing residential property. While you may never have leased a home or an apartment to a consumer, the odds are very high that you have completed this exercise yourself and are familiar with the questions asked, the background and credit checks completed, your liabilities if you failed to pay and what the process would be should they have to evict you. You probably already know when rent checks are due, when they are late, and what will occur if not paid on time. You have an idea how to report a maintenance request even if you don’t know what to do with it when you receive it. In fact, you’ve spent a good part of your life to date learning the ins and outs of residential real estate operations and management. Additionally, as an American, you likely already know some or even many of the programs available to you to purchase a home and you have some sense of the loan process you will need to complete for the purchase. What other business can you think of that without additional professional training that you would know so much about?

Because of these two points, no one has created as much wealth as in housing and there is no business you know so much about, you should very seriously consider making residential investing part of your asset portfolio.

Should I Buy This Product? 5 Questions To Save You Money And Reduce Information Overhead

One of the exciting things about doing business online is the rapidly changing landscape. There are new technologies, new tactics, and new products coming onto the market daily. It’s a constant parade of new offers.

But do you need the latest and greatest offering? Or will it just become “shelfware?” Here are five questions to ask yourself before you purchase the next product that arrives in your inbox.

1. Does this fit my business model? If your primary business model is split between consulting and selling your own info products, you may not need the “hot” new Private Label Rights product. Regardless of how easy it sounds, how much passive revenue you can earn or how few copies are left, it doesn’t fit into your business model. Skip it.

2. Is this truly a time-sensitive offer? Scarcity – a limited quantity, or short time limit – is one of the next effective means for closing a sale, so it is often used in online sales letters. A “real deadline” is the early bird price for a conference or the start of a teleseminar series. And while “the price goes up at midnight” may be compelling, don’t buy just to beat the deadline.

Buying something you don’t need or don’t have time to use will cost more in the long run than what you would save on beating the deadline. One of the techiques I use is to print all sales letters that interest me. Then I read them away from the computer where I can’t click immediately. This delay helps the rational thinking process and avoids that panicky clicking.

3. Do I have time to implement this? If you can see an opening in this week’s schedule that gives you time to read the ebook, re-label the product, watch the videos and take the resulting action, then it might be a good product to purchase. But most people 1) don’t set aside time to implement in the first 48 hours after purchase and 2) may consume the materials, but fail to take action. This is how “shelfware” is created!

4. How will I implement this? A well-written sales letter will provide enough detail that you can write a plan for consuming the product and taking action. Will you need to learn a process? See how many hours of videos are provided – then double that time for learning the material. Look at the length of the ebook, then based on your reading speed, figure out how long you’ll need to consume it.

Then take a further guess at the number of hours you will need to take the action. You don’t want to walk around as a Smart Marketer who knows a lot. You want to be a Rich Marketer – and that requires action. So at least double the learning time for the action phase.

Finally, write out your plan. Once the first rush of excitement has passed about all of the great “stuff” you have bought, you may forget why you invested in it. So while you’re really excited about it – before you click the order button – have your written plan ready.

5. What’s the return on my investment? It’s not just your money, it’s your time. What else will you be neglecting to implement this new product? What will that cost you, both in terms of rest and relationships? If you fully follow your plan and invest the hours you know you need to properly implement it, how soon will you see the increase in revenue (or decrease in expenses)? How much can you realistically expect to earn? Now divide that by the number of hours in your implementation plan. Is it worth it?

While these questions won’t stop you from purchasing the tools and knowledge you need for your business, they will help you avoid excess purchases that leave you feeling guilty and overwhelmed. Be an “Action Consumer.” Resolve to never purchase again without answering these five questions.