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In toda;s tough economy, there is an unfortunate domino effect in accounts receivabl-your customer is late in receiving payment so it becomes a late payer of your invoice; unless you receive payment you could be short of cash needed to pay your bills. If your business routinely bills for goods and services and yo-re sitting with accounts receivable that have begun to age, be aware of the practical and legal steps you can take to collect what yo're owed. Take action quickly The longer you wait to begin collection actions, the less...
Although the economy is slowly turning aroun;at least according to official report-consumer- budgets continue to be tight. But although consumers are still holding onto their purse strings, one area where they are willing to spend is on socially responsible products and services. In a recent study by Burst Media, for example, more than 50 percent of consumers surveyed said they are willing to pay more for'gree' products and services, despite tough economic times. Green is still a relatively new focus, so here are some additional resources for...
The recession has ended and the economy is rebounding. You are thankful that, although a little bruised and battered, you and your business survived. For several months after, you limped along and licked your wounds, but now things are looking up. Yo;re at a steady trot now and your books are once again in the black. Your belief now is that slow and steady will win the race and if you stay consistent and maintain status quo, yo-ll do fine. But will you? Consumers are spending again, but not at the same pre-recession levels. Consumers learned...
A recent Gallup poll* found that 7 out of 10 U.S. workers are satisfied with their jobs. Even more interesting: business owners topped the list of those who are most satisfied. Eighty-seven percent (87%) of business owners say that their job is the;ideal jo- for them. I think that speaks volumes about entrepreneurship and running your own business. And it also brings up the topic of toda-s post, which is about tools to help you stay motivated as a business owner. Anyone who has been in business for any period of time knows that running...
Officially, spring begins on March 20th. Soon, the smell of freshly cut grass will be wafting through the mostly fresh air. A sense of renewal will fill the landscape. Things will start turning green. Green can be a relaxing color. Tha;s why many hospitals use it in their décor. Some television stations have wha-s called-the green room' which is used for its studio guests, to help them relax. Green (dark green) implies wealth. Our paper money is green. Entire businesses are focused on green technology, and sustainability. Her's what Caron...
In my first blog post within the Business.gov Community, called;Your First Five Steps in Government Contracting Register your business with the CCR Get a GSA Schedule contract Do your homework Secure references Make a commitment Once yo-ve done these, yo're ready to move to the next step: finding and pursuing government business. Know What to Expect With your proverbial ducks in a row, yo're probably ready to dive in! Just make sure you know what yo're diving into. Many, many companies dive in without knowing their market...
During tough economic times, many businesses experience difficulty in collecting outstanding invoices from customers on time. Aging account receivables cause critical cash flow issues and can easily put your business at risk. To protect your business you need to establish good credit practices. After all, the survival of your business depends on getting paid. Before you agree to extend credit to a customer, establish the credit terms. Determine when the payment will be due and what, if any, late fees or penalties will be assessed. You...
Business Planning and Black Swans Have you read Nassim Nicholas Taleb's The Black Swan*? It's a great book. It should be required reading, especially for business planning and management. The black swan is the big event we didn't predict, that we couldn't have predicted, but that we convince ourselves, after the fact, that if we'd only read the signs right, we would have known. The black swan is 9/11. It's that big crash in 2008 and 2009. It's that huge wave of reality that surprises everybody and changes...
I was reading this story a month or two back about this onerous-sounding census. Apparently, there was this couple that had to travel around 100km (c. 60 miles) just to get counted. Worse, she was at least eight months pregnant and they were traveling on foot or on donkey. Oh, yeah, it was in the Biblical book of Luke*, and it begins: In those days Caesar Augustus issued a decree that a census should be taken of the entire Roman world. (This was the first census that took place while Quirinius was governor of Syria.) And everyone went to his...
Author Laura Fitton describes an experience typical to many new users of social media: 'To be candid, Twitter sounds idiotic at first,' she says in this interview. 'It's true. But it's also true it's changed my life and career a bazillion ways. I've gone from homebound mom of two babies under 2 to solidly booked, traveling around the world and extraordinarily well-networked.' As well as the author of -- you knew this was inevitable --- the brand new Twitter for Dummies. I want to know: What is the experience like for those who have decided...
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by BarbaraWeltman, Guest Blogger on Tuesday, March 16, 2010 - 11:24