Tag Archive: TIm Jacquet

A Change in Career a Change in You by Tim Jacquet

A Change in Career a Change in You by Tim JacquetA Change in Career a Change in You by Tim Jacquet

Career Change in You by Tim Jacquet. Some of us are lucky (or unlucky) enough to start our own business, we work all the hours under the sun and moon and think that this is it, this is going to make me, I will be happy and have no worries about bills and the future. Sadly,it’s not quite like that. If you’re into manual labour you generally end up with no money and all sorts of ailments like back pain, trapped nerves (very painful!) or even the odd limb missing. All from slogging your guts out 24/7! And if you do find that job you always wanted?

Are you still there? I’ll bet your not or you won’t be in the near future. Why? Because you aren’t getting the appreciation you feel you deserve, you know you do a good job, and you know you could do it better but something’s stopping you, stopping you from progressing and stopping you.

Why is this a career change is necessary? Have we been brought up to be like this? For the average person we weren’t taught how to look after our bodies or our minds at school, we were doing homework on Arithmetic’s, English, French, Geology and Physics to name a few, all good if you knew what you were going to do in life! Society didn’t teach us how to make money or be happy or to look after ourselves, it just taught the basics so that we could fit in.

But fitting in doesn’t work!…..we all have that built in desire to be successful, to be better than we are, it’s only with us for a certain period of time and you know when it’s running out, it’s inbuilt, we are human and it’s natural. You have to take a look at yourself and almost go back to school, your school! Do it the way you want to be taught not how society taught you. Your school, what is your school?……….It’s anything you want it to be!

You just need knowledge of career change, only WITH THIS TIME its knowledge you want to learn and you can get enthralled in. You can work any amount of hours in the day as little or as much as you want, but the big difference is that you will be enthralled with your new venture, you will want to work all the hours life allows (and your family) and the appreciation will come from yourself.

Your life that has passed by (which goes too quick in my book) has gained you a wealth of knowledge that YOU know, that you can pass on to others that need that information.

Information that is valuable and easy for you to convey to others, it’s called a niche.

So you see, to all those out there with yearn and the willpower (and we all have it, it’s natural) you have an opportunity that no society has had before us. The world is a small village, and the reason for that s…………………….. the INTERNET this is where you should start in your career change.

Thank you for reading this blog on Career Change. A Change in Career a Change in You by Tim Jacquet

10 Financial Yardsticks for Your Small Business by Tim Jacquet

10 Financial Yardsticks for Your Small Business by Tim Jacquet.

10 Financial Yardsticks for Your Small Business by Tim Jacquet. Time and again, accountants and consultants who specialize in small businesses say that such enterprises don’t pay enough attention to cash flow. That’s the measure of how much money you really have in the business.

Be Wary of Big Contracts

“Small entrepreneurs wind up taking big orders that get them in trouble,” says Ronald Lowy, who heads a college business administration department. “They want the big contract, but they’re not getting enough money at the front end of it and they don’t have the cash reserves to pay workers and other bills while they’re waiting to get paid themselves. They might show a profit on an accrual basis, but from a cash-flow standpoint, they don’t.”

Judith Dacey, a certified public accountant, calls a cash-flow statement “probably the most important thing in telling you if your business is on or off target.” As an example she describes how board members of a non-profit group were not examining their cash-flow statements.

“They were hiring people and spending money on membership campaigns, and doing all of these things based on money they thought they had from looking at the profit-and-loss (P&L) statements,” Dacey says. “They didn’t realize that the profit-and-loss statement was an accrual statement, which basically means you are including paper promises of payments to come, not money that you have in the bank.”

The non-profit board became aware of the difficulty only when the organization bounced a check. Employees had to be laid off, and belts were tightened. “That could have been avoided if they’d seen the cash-flow statements,” Dacey says. “A cash-flow statement tells you here’s the cash that has actually come in and that you can work with.”

A statement of cash flow starts with the bottom of your profit and loss statement — the line that shows your net income. Several adjustments are made to that number. The details are a little complex but a good accounting program that does a P&L and a balance sheet will also calculate this statement for you.

Tracking the Big 10

If you’ve established a way to track cash flow, then you can go on to organize and track 10 financials for your business. That’s a big list, but don’t panic: As with profit and loss statements, you can take advantage of software programs to automate tracking for many of the following:

Your Assets

Tracking your equipment, furniture, real estate and other holdings should be easy. But to have a true idea of the value of your business, you also have to track changes in the value of those assets. More than one small business has found itself located on a piece of land that’s worth more than the business itself. Similarly, you also will want to track the declining value of assets such as computers and office furniture.

Your Liabilities

On the face of it, this is easy — liabilities are what you owe. But what you owe isn’t always as obvious as a bill from your landlord. Payroll taxes are a liability that depend on the size of your payroll. Loans are a clear liability, but in repaying them you’ll want to be able to track how much of a payment is applied against principal and interest.

What does it Cost You to Produce What You Sell?

If you’re buying a finished item for resale, this is relatively easy. It’s trickier if you have to calculate all the factors, such as labor, that go into manufacturing a product.

What’s it Costing You to Sell What You Sell?

Advertising, marketing, labor, storage and the catch-all category of overhead — it’s useful to know how much it costs you to get a product sold as well as what it costs you to create it.

What’s Your Gross Profit Margin?

This is calculated by dividing your total sales into your gross profit. If your gross profit margin is staying consistent or trending upward, you’re probably on track.

Being able to track a declining margin can give you a heads-up that you must adjust your prices or your costs. In the worst cases your gross profit and profit margin disappear altogether. At that point, you’ll be like the fellow who lost money on every sale but figured he could make it up in volume. Don’t do it.

What’s Your Debt-to-asset Ratio?

This ratio can let you know how much of the stuff you have in your company is actually owned by someone else — your lender. Having this ratio climb can be a bad sign. It can happen as part of a major expansion, but it can also indicate that you’re getting in over your head.

What’s the Value of Your Accounts Receivable?

This is the money you are owed. If accounts receivable are on the rise, you may be getting a warning that the folks you sell to are starting to stumble.

What’s Your Average Collection Time on Accounts Receivable?

This is probably one of the most aggravating pieces of information for cash-strapped businesses, because it tells you how many days you’re acting as ‘banker’ for the people who owe you money.

What Are Your Accounts Payable?

The flip side of accounts receivable. An increase in your accounts payable may merely reflect a larger amount of purchases overall. But an increase that hasn’t been planned or managed can be an internal warning that your company’s financial strength is waning.

What’s Happening With Your Inventory?

There are occasions, even in this just-in-time business world, when building up a significant inventory can be a good thing.

If prices for items you sell or use in production are relatively low, putting some of your money into inventory may make sense.

Being able to track your inventory can tell you whether business is increasing or slowing down. It also tells you how much money is tied up in this unproductive asset.

Knowing what’s up with your cash flow is essential to your business. But sometimes the figures can be difficult to understand. Don’t ever be afraid to turn to professionals for some help.

Debt Relief Grants from the Federal Government

Debt Relief Grants from the Federal GovernmentDebt Relief Grants from the Federal Government

The government offers federal grant and financial assistant to hose who are having problems recovering from debt.  Because of the economic crisis affecting the country, there are a lot people who are facing that they cannot pay.  Let’s just say that Mother Nature played with you and a hurricane caused destruction to your home and property, how would you be able to recover from expenses incurred for repairs?  The answer is, you can try getting federal grant for debt relief.

The government can offer debt relief grants to those who have incurred the debt because of addressing health problems.  For those who have incurred debts by pursuing business projects and ventures,  there are small businesses associations that could offer debt relief loans which is lower compared with other money-lending institutions.

This kind of federal grant ensures that individuals and businesses would recover from being buried in debt.  The government actually have helped some home owners face impeding foreclosure by providing debt grants.   But the other side of this grant is that not most people know it.  Of course, not too many people knowing abut the grant means lower recipients.  Unspent allocation for the grants would be used for other projects.

This money which is used to help the low-income families, actually come from families in the high income bracket.  These people would donate money to foundations ad charitable institutions and are used to help low-wage earners and address their needs, in this case, their debts.

To apply for a debt relief grant, consider the following steps.

• Identify how big the money problem is, how much you owe and compare it with how much you earn and how much you are spending.  Debt relief grants are there to help out get rid of debt problems, but if the situation arises again the problem can be because you spend too much than what you earn.

• Based on your current situation, check what debt grants are available for you.  You can check the debt grants offered by the government by going to the city hall, or you can inquire about private institutions that offer debt grants.

• Know the application procedure and follow it.  There are debt relief grants with just very simple application process, while there are others which require you to write a grant proposal.  Some grantors would even require you to provide your financial records like your monthly expenses, income and also number of dependents.

• History would also have an impact on the result of your debt grant application.  It is important to provide information like previous grant applications, this makes sure that everybody is given a fair chance to get the grant.  If you just had a grant previously, there would be less chances that you will get the grant again.

• Remember that not everybody would be able to receive a grant to ease of the debts.  Social Services would be there to identify if you are really qualified for the grant application.  Income, the incurred debt and the monthly debt payment is considered.

The government can have grants that can help you bail out of your debts, but federal grants do not cover expenses or costs for buying or purchasing services or properties, unless otherwise stated in the regulations.  It is important to avoid these scenarios from happening again to make sure that you continue a debt-free life.