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Category - Investment

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1
Why Understanding Finances Is The Secret Ingredient
2
How To Increase The Value Of Your Business
3
How To Start Your Own Business
4
Some basic numbers you need to know about your business
5
Need Money?

Why Understanding Finances Is The Secret Ingredient

I’m going to talk about finances.

Stop!

Don’t delete the email or close the window! You really need to hear this, and I promise it won’t be boring!

OK, jokes aside, unless you are a finance specialist like an accountant or a bit of a numbers nerd, finances usually make a small business owners’ eyes go blank.

That’s understandable because if you are like most small business owners, you started your business as a subject-matter expert. You knew your stuff, that’s why you had the confidence to start your own business. You knew that at worst, you could back yourself on selling what you know. But you’re an intelligent person, so you realised that running your own business wasn’t like working for the man, where all you had to do was show up and do your stuff. That’s why, to your great credit, you end up reading websites or newsletter like this.

You knew you had to find out about business planning, you had to know about marketing, you had to find the sales prospects and work out the best and most efficient way to supply what you supply. You had to hire staff and then manage them.

And, you had to manage the finances.

Like most people who are not finance trained you probably bought software that was hopefully easy to use, and you copied the data at the end of the year and gave it to your accountant. As soon as you could afford it, you hired a bookkeeper and handed the operation of the accounting software to her.

I don’t like to tear you down, but that’s not good enough.

Here’s why. Read More

How To Increase The Value Of Your Business

The value of your business is not just based on the tangible assets – the equipment, the buildings, the accounts receivable – but is also based on intangible assets or “goodwill”.

Goodwill is the “extra” value of your business that is caused by all the intangible things that you do in your business to make it a profitable business that can continue beyond your ownership or stewardship. These include things like your customer relationships, your reputation, the efficiency of the business processes, marketing quality and resources, staff behaviours and culture, and your systems that create a great product and service.

Imagine two similar businesses.

Read More

How To Start Your Own Business

Are you an entrepreneur wanting to start your own business?

Perhaps you are an expert in what you do, or you are a creative excelling in your specialty, and you work for someone else but think that you can do it better, or that your own business would be so much more?

OK so you want to start your own business but where do you start? What do you do first? What do you have to do? The questions are starting to overwhelm the enthusiasm, right? If only there were a number of steps laid out that you could follow, and be sure that you’ve thought about everything and that you haven’t missed anything.

Well there is!

I have created an online course to take any entrepreneur or small business startup from scratch – from idea to opening their doors. Funnily enough it’s called “How To Start Your Own Business“!

It is wrapped around 5 steps.

Read More

Some basic numbers you need to know about your business

I have provided my followers with loads of free ideas and tools about how to create great strategy in your business, how to develop your leadership skills, and how to grow your business and your life.

But despite all the planning and marketing – being in business boils down to one thing: making sure that you make a profit that’s good enough to meet your goals.

So, here’s a training video on financial management.

Stop right there! Do not click on the “delete” button!

This is important. You cannot subcontract knowledge about your financial performance to an accountant. You have the skin in the game, and it is your duty to your better future that you know something about the numbers that tell you about how your business is performing. It’s not just about the net profit, or how much money is in your pocket.

If you want to grow your business, you need to know the relationships behind your income statement and your balance sheet.

This 20 minute training video introduces you to some key numbers – sure, you don’t have to keep your own books to get those numbers, but you do need to understand what they mean.

Watch out for some free gifts to subscribers of teikoh.com coming out soon. One of them will be about financial performance management.

Get over to the website for more great stuff worth thousands of dollars available to you for free. While you’re there, subscribe so that you don’t miss upcoming articles (and free gifts available only to subscribers) or subscribe here.

See you soon!

Need Money?

At some stage, every business will need additional funds. Ideally, this comes at a time when you have already generated funds salted away from past profits, but from time to time, you may need the extra money to “prime the pump” and make more money.

Here are eight options to source an injection of funds.

It is important to note that they are not in any natural order of preference – the circumstances must meet the potential source, and you do have to weigh the pros and cons of each option, in accordance with what you need the money for, how long you will need it, and what you are prepared to give away for it. Read More

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