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Two Ways for Business Owners to Manage Risk and Avoid losing money
One habit that separates successful businesses from unsuccessful ones is managing risk.
First, set a stop loss and don’t invest a cent more than your stop loss. A stop loss is the amount of money you will commit to the ... Views: 1077
So far in this series, we have taught on the importance of learning how to build wealth, but just as important, you need to spend some time learning how to protect that wealth through asset protection and tax savings. Because the two biggest threats to your assets are lawsuits and taxes.
I’m ... Views: 1392
Multinomial Logistic Regression
The multinomial (a.k.a. polytomous) logistic regression model is a simple extension of the binomial logistic regression model. They are used when the dependent variable has more than two nominal (unordered) categories.
Dummy coding of independent variables is ... Views: 3066
The real issue for small to medium business is how to cut costs and reduce waste.
We are entering a world where there are shortages of oil and other forms of energy and it is all getting more expensive.
We have polluted our atmosphere and we need to slow the rate of pollution down and ... Views: 1173
If you’ve been in business a while, you may have noticed that customers don’t just come to you while you twiddle your thumbs. Passive strategies rarely work, even if you are doing some market research marketing, more often than not you will be beat out by your competitors who are actively ... Views: 741
In my summary article, Top 10 Business Issues For 2009, I stated that the global economic crisis had changed things in a structural way, and we will not return to the way we have done business in the past. This next series of articles will expand on the top 10 list originally published. ... Views: 1179
Unraveling cash flow problems for small businesses can be a difficult task says cash flow expert, Caroline Jordan, author of Stop the Cash Flow Roller Coaster, I Want to Get Off! She should know. She has helped scores of small businesses with financial rescue missions and cash flow makeovers. ... Views: 1278
Simple equity method accounting is when a company looks at its investments in other companies and includes any profits into their income statement. The statement includes the price paid for shares plus the percentage equity of the reported net income of the affiliated company. This net income ... Views: 2669
During the times of recession, by default, we are prompted to think and ask the following questions to ourselves.
Everywhere I read and hear about recession. I have not made any money this month. I am afraid. I feel stuck. How can I run my business?
I am not getting any new clients. No one ... Views: 1181
Selling your business can be a very emotional process. Countless hours and tremendous effort go into building a business, then one day, it is time to sell. It is easier for serial entrepreneurs to deal with closing day than it is for someone who has been in a business from start-up 25 years ... Views: 1507
Everywhere you turn, the current state of the economy is a central topic. The economic crisis is not only an issue in the United States, but a matter of global concern. In fact, the United Nations projects that about 20 million jobs will be lost worldwide by the end of 2009.
As many businesses ... Views: 1787
What are the outstanding factors for a thriving telemarketing company? The answer is effective communication, quality products and superb customer assistance. Success will be obtained only when the help offered is systematically dependable. To consistently attain superior standards of help is a ... Views: 3108
Are you considering selling your business? Before slapping up the ‘for sale’ sign, you may want to invest some time and energy in developing a few areas that don’t show up on the balance sheet. Buyers are interested in more than the bottom line. Here are 5 value drivers that influence the ... Views: 1586
The idea of “greening” a home is not a new one. It is, in fact, one of the most common homemaking trends. Many people, however, are still unsure as to what benefits one can really get from turning their houses into green homes.
While there may be a hundred or so personal reasons why ... Views: 686
With all the talk of USP, niche positioning, and your ‘features & benefits’, one thing that is often overlooked in the marketing cycle is what I am going to call your “Creation Myth”. All societies have them. Whether it is the Big Bang and evolution, or that a Christian God created the world ... Views: 1425
In every field you are involved in negotiations on a regular basis, whether you realize it or not. When people think of negotiations generally the term "high level" comes to mind. There is a group of cigar smoking men surrounding a table in a board room and the volume is loud and occasionally ... Views: 1474
The combination of an ailing economy and a struggling housing market during an election year has created the perfect storm to once again bring issues concerning the federal capital gains tax rate to the forefront of the public’s attention. As our nation’s government continues to ... Views: 1369
Working from home is a great thing, no doubt about it. You can wear what you want. Keep you own hours. Eat and drink when you want. Surf the net without feeling like your boss is going to bust you. You don’t have to worry about commuting and all of the stress associated with bumper to ... Views: 972
Ever wonder why management gurus are called “gurus”? To answer this question, you will need to go back into time when ancient civilizations reigned supreme. The term “guru” traces its roots from the Sanskrit language and is a respectful way of referring to a teacher or ... Views: 1368
Most researchers know by now to use Mixed Models when observations are clustered. Examples include studies in which patients share the same doctor, plants grow in the same field, or multiple responses are observed from the same study participant. The observations at Level 1 (patient, plant, ... Views: 1723
The Cultural Olympiad has had its detractors since it was officially launched soon after the Beijing Games, with many decrying its £40 million budget. The truth is, this four-yearly event is not just the cultural preserve of the recognised collections and exhibitions of the big galleries ... Views: 714
Back when I was doing psychology research, one of my biggest challenges was having enough data. And while this is probably still true for many experimental researchers, with the internet’s ability to make data sets accessible, it seems data is reproducing faster than rabbits.
Now I see ... Views: 1448
Centering is one of those topics in statistics that everyone seems to have heard of, but most people don’t know much about. It has developed a mystique that is entirely unnecessary.
Centering just means subtracting a single value from all of your data points. It shifts the scale of a ... Views: 15715
One of the keys to living a life of passion and purpose is discovering your unique brilliance and living it. Many of us have wondered 'what is the meaning of my life' and 'what am I here to do'.
One of the skills I have developed as a business coach is to ask provocative questions that ... Views: 883
Nearly all granting agencies require an estimate of an adequate sample size to detect the effects hypothesized in the study. But all studies are well served by estimates of sample size, as it can save a great deal on resources.
Why? Undersized studies can't find real results and oversized ... Views: 2495
Shipping, packaging and handling fees can be very costly to a business. Despite the modern convenience of the Internet when transferring and trading data, there are many instances when information, packages, contracts, products, goods and supplies require physical delivery. When employing ... Views: 2583
Any business sector, wide-ranging or small-scale, will benefit from telecommerce as an supplementary merchandising policy. As soon as a potential client answers the telephone and agrees to listen to a teleseller's patter, they have a captive listener who is most in all likelihood going to ... Views: 1048
The world of small business accounting software can be a minefield for any business owner. However choosing the right package is one of the most critical business decisions you will make.
Here are the seven things you must consider before making a purchase that will help you achieve your ... Views: 2119
If you are reviewing this article, my guess is you are being Micro Managed. Most of us will have had the opportunity to work with a micro manager. Under this type of leadership, one feels as though they cannot catch up. It is hard to step back, take a breath, analyze your situation, and ... Views: 1231
For most women, becoming a mother is a turning point in their career. It’s a time in one’s life that’s rife with challenges, frustrations, and uncertainties, but it’s also when many of life’s most rewarding achievements and miraculous moments occur. What many new moms figure out rather quickly ... Views: 1080
In my last article, I elaborated on how our new economic
market will actually be a good thing for the smaller
retailer and consumer of the long run. We'll see these
benefits around 2010. That means that we need to take
action so that we can survive through the next 16 months.
In a moment, ... Views: 763
A good commercial solicitor is vital for guaranteeing the smooth operation of your business. Your commercial solicitor will ensure that the transactions that underlie your business’s success are legally watertight and provide you with the peace of mind that your best-laid plans do not go ... Views: 984
Resolving a workplace dispute with as little time, expense and stress as possible is vital for the ongoing success of your business. Either refusing to deal with a problem early on or taking it all the way to litigation can be ineffective means of ensuring these savings.
Employment tribunals ... Views: 1008
As the country enters recession it is inevitable that a number of businesses will be looking to undertake cost-cutting procedures. It is a sad reality that employees will figure in restructurings, a fact confirmed by the 27% of organisations recently surveyed by the Chartered Institute of ... Views: 1260
As a normal part of business, most companies take steps to make sure that their employees are healthy and safe. They know its not just the right thing to do, but by providing benefits like insurance, wellness programs, continuing education opportunities, and the like, they are providing for ... Views: 1723
DVD players are well known to present crystal clear, crisp videos with great sound quality. There is a misconception among people that all the DVD players that are available in the market are the same. The fact is that, the advancements in the electronics world has made a DVD player a device ... Views: 738
The advancements in technology have made shopping electronic goods much easy. The power of Internet has made shopping electronics a breeze at our convenient time by relaxing in our home. With almost anything available in the Internet, electronic goods are no exception. Mobile phones, widescreen ... Views: 5404
Are you still using the drab ordinary picture frames to showcase your beautiful moments? It’s time for a change. Today, with everything changing into digital, photo frames are no exemption. Yes, today picture frames are going digital too and giving us such a wonderful choice of pictures in ... Views: 1550
The U.S. election is over and fortunately, I won't burden
myself with sharing what I believe is in store for the
country politically. Regardless of who is president, the
financial mess in the USA looms on and in spite of all
the promises and rhetoric, no bag ofmagic tricks or new
faces in ... Views: 1049
The flower industry works like a simple value chain: growers grow flowers, suppliers obtain them, then the flowers are sold to retailers or to wholesalers before consumers buy them in bunches or bouquets. It sounds really simple, except the people involved come from all over the world. Most of ... Views: 1564
Building a list is important but building a list of Quality Subscribers is far more important. Anyone can just get a bunch of names and market to them but if they are not qualified for what you are offering what is the point. When you build your own e-mail list you have the ability to target the ... Views: 652
If you are looking into buying surveillance equipment, whether it is to maximize the safety within your specific workplace or protecting your children from prank calls at home, one of the first things that you should consider investing in is a telephone recorder.
Telephone recorders have ... Views: 787
Lyric equipped with a team of dedicated and experienced project managers and its network of around 7000 translators world wide can handle translations in any language and yet offer you a savings of about 30-40%.Low cost,accurate and native translation along with dedicated support team is what ... Views: 645
If you own a restaurant or shop, cameras are vital, not only to prevent theft and break-ins, but also to identify those that are responsible once these things do happen. However, these are not the only places in the world you would expect to find a digital surveillance camera. Private ... Views: 791
As the name suggests, a limited liability company (LLC) is a company that helps small businesses to limit the liability of their owners. As a legal business structure, an LLC has a distinct identity which is separate from that of the individual owners. Thus, in case of a future financial slump, ... Views: 1107
If you are thinking about incorporating a business in the UK, then you need to know about the business structures and stipulations that a company has to follow in order to get registered. The Companies House is the most important of entities when it comes to business incorporation in the UK. ... Views: 1059
One of the first things new businesses deal with is having their business name registered and approved by the concerned authorities, in one go. However, choosing a name for your company is not just about getting approval from the authorities at the time of business name registration; it is also ... Views: 1013
Wikipedia defines cynophobia as “the clinical name for an abnormal fear of dogs, i.e., a specific phobia related to dogs. The dog is a domesticated superpredator; this in combination with increasingmedia coverage of dog attacks could be contributing factors for development of this ... Views: 820
You might be able to attract people with high value skills through a well-presented ad. However, to keep them with you, your organization must have put in place workforce management policies that make these people want to continue with the organization.
The policies must fit in with the ... Views: 917
The enemies of any burglar are Time and Attention. The longer a burglary lasts, the more likely the Police are going to arrive. Also, any attention drawn to a burglary will likely lead to wearing an orange jumpsuit. If you keep in mind that Time and Attention are the enemies of a thief, you are ... Views: 991