When a business is first starting out, the owners usually make a business plan of the way they want their company to pan out. However, as more work comes through and more time is taken up, it can be tricky to keep on top of updating your plan to adapt to new situations. Most businesses undertake a SWOT analysis or risk assessment of their company to begin with as well. It is vital to stay on top of these exercises and review your organisation on a routine basis so that nothing is missed. Plan ahead! We often this of risk assessment as being associated with health and safety, where the aim of the...
This is a typical dilemma we all face from time to time – should I do the “tried & true,” or create my own path? Should I do what conventional business wisdom suggests, or do something radical and be considered an “upstart”? Let’s start with the conventional approach. Do what is “tried and tested” or “learn from other’s experiences” – this is what you read when you open any business magazine, newspaper or ezine. Inside, you’ll see a lot of success stories that demonstrate the basics that have been proven over the...
It’s a win-win situation – you cut your tax bill, and a charity gets the money they need to help people in your community. The Federal Tax Code changes yearly, but the IRS continues to allow you to write off contributions to charity…as long as you make them to an IRS approved organization, and you itemize your deductions when you file. Here are 8 important tips to be sure your donation is deductible, whether you donate money or tangible property like an automobile, truck, boat or even a golf cart. 1: Make sure you see the 501 (c)(3). If you don’t want the IRS to disallow...
When most of us think of financial freedom, we conjure up visions of complicated financial strategies. Financial institutions, banks, investment firms, your rich uncle, all claim they have the answer to your financial security. If you dig just a little deeper, you will find they are really more concerned with their own bottom line. Anyone can give you their best guess about what course of action will lead you to the promised land of financial freedom. In all reality, financial freedom is a concept that lives in the mind of the individual. There is no exact route or procedure to follow. That is...
Meetings are a significant mode of communication in most businesses but it is mostly misunderstood. For many business people, meetings are seen as activities that are dull, taking so much time and have little or no value. I think many individuals would say that meetings are unwanted in today’s industry. Maybe it’s because many of us have been too involved to common types of meetings which usually go on for hours and seem to have little or no function. But even if this is the case, I still believe that meetings are critical to increasing connection and gathering suggestions or feedback...