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Tips for Small Business Owners

June 9, 2011 By admin Leave a Comment

 

 

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Being your own boss is a dream that many people have. They would love to own a successful if small business of their own and nurture it till it grows into a large company. However, launching and operating a small business profitably and successfully isn’t always easy and there are several contingencies that owners need to be prepared for if they want their business to survive. Here are some tips on how you can make your small business last!

 

  1. You should try to invest as much of your own money into your small business as possible. If you entirely depend on loans taken from third parties, most of your profit will be spent in repaying loans with interest. So plan in advance, work hard and try to save up as much money as possible to invest into your business.
  2. People would love to have a grand office with designer interiors but small business owners need to keep their spending small too! It isn’t difficult to get a great looking office with economical interiors. Small business owners need to watch every dollar they spend as they are going to need all the funds they can get to keep the business operating. So set up your office wisely and grander things will follow!
  3. Small businesses can be risky, especially since most of the funds invested are your own! Should things go terribly wrong and the business incurs too much debt, there is a chance they your personal assets may be seized for repayment. Get in touch with a business lawyer and find out how you can minimize the risk of your personal assets being seized.
Filed Under: Small Business, Spending Tagged With: , ,

Knowing Your Dollars Well

April 21, 2011 By admin Leave a Comment

Money management, budgeting, balancing a checkbook, credit management, on-time mortgage, and car payments — these are just a few of the basics of, well, basically life management. And, yet, there are still many people out there who don’t know a checkbook from a black book (you know, the kind of book you put phone numbers in).

We’re talking specifically about Rhode Island here. You’ll find that for years residents in that tiny state never had much help with education on the financial front. That’s okay — but you can understand the aggravation of some of these older residents struggling with organization and keeping up financially! Just think of how confused these old-timers would be when considering payday loans.

Hopefully soon education on family finances will pick up in the state for our young hopefuls, specifically since some organizations are dedicated to the financial literacy of the population. One in particular being the Rhode Island Local Initiatives Support Corporation, a nonprofit organization specializing in community development. With five chapters available — four in Providence, Rhode Island at the Amos House, Dorcas Place, Providence Housing Authority, and Genesis Center, and the fifth at the Family Resources Community Action Center in Woonsocket — things might be looking up.

One thing’s for sure, when you know your dollars well, things will always look up. It’s obvious that you wouldn’t want everything to look down. After all, it’s very important to know the difference between that black book and a checkbook. Or else you’ll be one confused individual!

Filed Under: Financing, Spending Tagged With: , ,

The Buy Cycle is not a Ride-on Toy

February 23, 2011 By admin Leave a Comment
Ever heard of the ‘buy cycle?’ It’s a four-step process businesses go through on deciding whether to buy something or not, and everyone goes through it in some form or another. Companies are no different, especially because they make bigger decisions and spend larger amounts than most individuals do.
Companies and Individuals Buy the Same Way

  • Step 1: Realizing there’s a need for a specific product or service necessary to be able to complete a task or operation. This usually comes at the time it’s needed, but business owners should try to anticipate these needs ahead of time. Having a company ready and waiting in the rolodex when disaster strikes is half the task done.
  • Step 2: Research is the next step. This is where the potential buyer looks up the products/service to see what’s available and which vendors can solve the shortage at hand. The buyer might compare prices or service packages and look into payment plans.
  • Step 3: Consideration and Comparison. Information has been distributed and the buyer has contemplated which model or brand is wanted. Buyers begin narrowing down the choices, dropping vendors that can’t meet their needs and listing the potential of the ones that do.
  • Step4: Procurement. This is the last step, the one where the buyer actually makes a decision and purchases the item or service and arranges for delivery. It’s this point that the salesperson can finally relax, the work has been done and the cycle has been completed.
Businesses use the ‘purchase funnel’ to show how the system works. It’s wide at the top of the funnel, where awareness of the problem comes to life. Narrower is the research part of the buy cycle. Below that, and smaller, is the Consideration and Comparison, and finally, the Procurement near the spout of the funnel.
Individuals also go through this same process when making major purchases, like a car or large appliances, they just do it faster than a business might. But, the cycle is the same.
Filed Under: Business Costs, Spending Tagged With: , ,

The Beauty and Brilliance of Tacori

January 19, 2011 By admin Leave a Comment

Elegance, class, and style come in a wide array of fashions. Tacori, one of the world’s leading jewelry experts, knows how to encompass all of that in a single ring. But the true beauty and class of Tacori isn’t something that was born; it’s something that has taken four decades to perfect, and it’s paying off now. Tacori stands as one of the best makers of jewelry in the world.

Tacori was founded in California, and has become a household name worldwide. What started off as a modest company that made exquisite pieces for the hopeful gentleman looking to pop the question or the lucky lady looking for a rock that dazzled has now blossomed into something bigger. These days Tacori is seen most frequently on the red carpet. Their amazing diamond pieces have been worn by starlets at the Emmy’s, Oscars, Grammy’s, and Golden Globes.

They’re most popular for their stunning engagement rings. Tacori rings have made themselves a known commodity among the engaged crowd. What stands Tacori apart from the rest of the field, is their ability to make a ring elegant among all else. The timeless pieces, ranging from affordable to pricey, all maintain the look of a priceless gem. It’s these gems that have served as the reason Tacori continues to not only endure, but prevail.

However, this company isn’t just into engagement rings. As a matter of fact, this company has made it a point to branch out into the rest of the jewelry market. In addition to the breathtaking engagement pieces, they are craft some of the finest bracelets, earrings, and necklaces. Next time a starlet is strolling the red carpet, she just might be wearing a Tacori piece. It’s the finest maker of jewelry on the market and continues to impress every day. The sky is the limit for the California jewelry company.

Filed Under: Spending