 |
| |
AuthorsDen.com
Join | Login |
|
|
|
Where Authors and Readers come together! |
| |
|
|
|
Featured Authors:
Paul Lonardo, iJeff Mason, iRobert Liu, iArmineh Ohanian, iMargot Dillard, iRobin Ouzman Hislop, iLloydene Hill, iJ and C Wordsmiths, iValerie Boggess, iAnn Marie Hannon, i
|
|
|
|
|
Blogs by Jack Terry
Be Accounting Literate
7/31/2013 7:06:43 AM
Be Accounting Literate
Posted by Jack Terry on Jul 28, 2013 in Uncategorized | 0 comments
Be Accounting Literate.
Ready to #StartABusiness — but you are not accounting literate? Can’t read a Balance
Sheet? Can’t read a Profit and Loss statement? Sure, you can hire a C.P.A. (Certified
Public Accountant). But, can you afford that person if you are a small startup?
If you are a larger startup, for sure you will want a C.P.A. Even then, can you
interpret the Profit and Loss Statement? It can tell you where your losses are or where
your profits can be improved.
My suggestion: take an accounting course. You can attend a local community college or sign up for an online course.
Budgeting
NOW, even before all of the above, did you create a detailed budget? The budget
is where you list the income that you anticipate for each month during the first six to twelve
months of your new business operation. Yes, this is guess work. Yet, the more you re-do
the budget (like maybe twice a week) and review the budget, the closer you will come to
reality. Next, do the same with each of the expected expenses ….. in great detail. Hopefully
you will show a profit in the first six months. Remember, you are only the owner (or one
of the owners). The business success is primary to your salary (or salaries). If you can get
by with no salary for the first six months — great. That can be made up later from future profits.
Remember, budgeting doesn’t end after the first year of business. You can now
convert to quarterly budgets. Then, continue them for at least the next three to five years. This
will help you decide when you can afford to add an employee or add more floor space or
open another location.
Prepare a Successful Foundation.
Invest in the new book “Employ Yourself Now, Enjoy Yourself Now”, 7 Steps to
Start and Operate a Business in Less Than 90 Days. Just press the Purchase Now
button on page one of the website. As a bonus, you will receive (free) a one-half hour
personal small business phone consultation with the author (value $65.00).
Website: http://employ-yourself-now.com
Leave a Reply
Your email address will not be published. Required fields are marked *
Name *
Email *
Website
Comment
You may use these HTML tags and attributes:
Follow Us!
Sign up for Updates
Recent Posts
Be Accounting Literate
Responsibility
Don ‘t Give Up !
Be Alert
Trust Carefully
Recent Comments
Douglas Skinner on Chapter 1 of Employ Yourself Now Enjoy Yourself Now
Anna Weber | Literary Strategist on What Makes My Book Unique
June Gaare on Chapter 1 of Employ Yourself Now Enjoy Yourself Now
Categories
Blog
Books
Featured
Uncategorized
Meta
Log in
Entries RSS
Comments RSS
WordPress.org
Archives
July 2013
June 2013
May 2013
April 2013
March 2013
February 2013
September 2012
Home - About the Book - Jack Terry's Blog - Shop Here - About the Author - Contact Me
Copyright 2013© | Employ Yourself Now | All Rights Reserved
Silver Knight Author WebsitesSilver Knight Web Store
Post a Comment
More Blogs by Jack Terry
• Be Accounting Literate - Wednesday, July 31, 2013
|
|
|
|
|
