Anthony and Rose joined me and Shauna (aka Sha-nomenal!) and the Phenomenal Team at Howard Partridge’s Inner Circle program in Houston. There, we hosted the FUNomenal Financial Blast. Owners from 21 companies cleaned up their financials, crunched budgeting numbers, determined selling prices and explored the Financial Quick Check report. Super Nerdy Fun! And powerful […]
Me, “I’d like to buy this thing.”
You, “Oh, I’m sorry. We don’t take credit cards.”
Me, “Why not?”
You, “Well, the credit card company adds 3% to every purchase.”
Bottom line: If you don’t take a credit card, or debit card, I am not going to buy from you. I haven’t carried a checkbook in over 10 years. I love the benefits – airline miles, good audit trail, consumer protection, insurance benefits – that come from using my credit cards. And, if you had incorporated that 3% into the Selling Price of that thing, I wouldn’t even notice it. I would have that thing by now, and you would have made a Sale. […]
What price would you put on the gift of life? Priceless? Beyond measure? No way to put that value in dollars?
But we attach a price tag to ourselves every day. How much do you charge for an hour of your life? How much for your knowledge, experience, physical and technical skills? What are you worth?
Let’s work through a little exercise that will help you figure out what you’re worth. The work you do takes time. And time is the most precious resource. Time reflects your life, sands through the hourglass. When you exchange your time, your life, to go to work, you should be justly compensated. How much do you need to charge to make this business worth your while?
For the sake of keeping this exercise simple, let’s assume that you are 40 years old and run a one-person heating company: YOU. You wear ALL the hats…the exquisite heating systems, running around for parts, general janitorial work around the shop and all the accounting and administrative work. (Whew.) […]
I’ve spent a lot of time over the last 20 years helping people clean up financial messes. The messy mess (the smelly smell for Sponge Bob fans) is payroll.
Payroll entries are complicated. There is the expense to you and the cash requirements and the amount you withhold, then submit, for payroll taxes for you and the employee. Add in reimbursements, advances and garnishments and, well, before you know it…it’s a mess. Here are a few tips for getting your Payroll accounts to right, and for staying current and accurate. […]
Debt as a national challenge is connected to rampant, unchecked individual debt. I’m not lecturing, I’m just saying. Many households overspend. Many companies run at a loss, year after year. Debt is how you keep the balls in the air. But you can hold them up there only so long.
The good news is that this is reversible. The very good news is that we will get a handle on our national debt as we dig out of the financial holes we have dug in our homes and our businesses. We get sucked into the debt problem through ignorance. We should learn how to budget and spend and price and do accounting in sixth grade. (I didn’t. Did you?) It’s also tempting to use all that credit that is laid at our feet when we are young and foolish. I created a debt crisis once upon a time. I turned it around, and I love to help others do the same. […]