The Desire For Money, Do You Have Business Sense?
For those of us who grew up with parents who worked for businesses rather than owned them, the world of business can be quite a mystery. Even more so if we've dared to try to start one of our own. There is the factor of what type of business to start - a product or service business. There are the issues of doing a good market analysis, licensing the business, understanding the codes of law governing businesses, and determining just what type of business structure to choose - especially if the business will have employees. For example, should we start a sole proprietorship or a corporate business? It's a lot to work on, and it's not an overnight process to the road of success. But, the most crucial challenge to whether a business succeeds or fails lies deep within the realm of emotional versus financial intelligence.
Many start-up businesses fail within the first year of existence. This is especially so with businesses started from home, or exist without the traditional bricks and mortar structure we are so accustomed to. And, far too often the reason many start-up businesses fail has to do with the emotional challenge the new business owner faces. The challenge of seeing him or her self now as a business owner, rather than a paid worker for someone else's business. It means dressing differently, thinking differently, and talking differently. It means believing that you are already successfully established even if you have a long ways to go on the business's balance sheet. To put simply, if the business owner doesn't have a firm belief and commitment in the business and his or her role as the owner, then others simply won't be convinced that this business is the place to get what they need.
Then, there is the crucial issue of having the financial intelligence to keep the business going in the direction the new owner desires. To put it simply, if the new business is only taking money to operate and not making money, it won't be long before the doors of opportunity become closed. No matter how much motivational self-talk and emotional pump-me-up the new business owner does, it is the results shown on the bottom line that determines the future of the new business. And, if the bottom line is steady generating a negative, the business will eventually lose. Far too many new business owner simply don't understand this simple fact and it's incredible impact upon the future of his or her business. And, far too many system based business endeavors, such as network marketing, fail to properly focus the majority of their teaching on this.
To keep the vision, motivation, commitment and, ultimately, the business alive, a start-up business owner must simply know the ins and outs of basic business accounting. The more he or she comprehends the principles of good financial management, the greater the chance of achieving the desired goals for the business. It is, ultimately, the financial bottom line the determines whether a business owner maintains the belief and dreams associated to his or her business. The financial bottom line determines just how much commitment to marketing and advertising the principal staff of the business will willing give. It's very encourage able to develop a love for numbers, especially when working with the basic additions, subtractions, multiplications, and divisions of the financial budget. Here's a recommended source to spur this number love: http://www.jtsef.com/financial.htm .
Many schools of thought teach that marketing and advertising is the key to success in any business. To their credit, there is a certain truth to this, because the market is a numbers game. The greater the numbers of people that know about the owner's business, it's products or services, the greater the chances of getting the sale. Understanding the numbers allows us to measure where we are and where we want to go. But, regardless how successful the new business owner is with marketing and advertising his or her business, no amount of business exposure alone can guarantee the success of the business. There are big businesses that are testimonies to this fact with their sudden bankruptcies at the time they seem to be at their greatest.
Ultimately, the deciding factor on whether a business succeeds or fails lies in the level of knowledge and expertise that the principle players of a business have with the business balance sheet. This level of knowledge also determines just how much belief the business owner has in his or her business, and how willing he or she is to make the necessary efforts and adjustments that steadily drive a business up to the road of success. And, once reaching this point where the customers and clients are knocking at the door and the money is rolling in, it is the degree of financial intelligence that will ultimately determine whether the business stays in business or not. And, no amount of motivational self-talk or marketing is likely to change this simple reality.
What this means for those who are just starting a business or are struggling to keep a business idea alive, is that it is imperative to develop a deep appreciation - if not love - for numbers and how these numbers play out on the business balance sheet. If the business is progressing in a positive way financially, the rest of the aspects to running a business will fill itself in over time. Isn't it a lot easier to learn the ends and outs of operating a successful business venture and maintaining the commitment and motivation to the business vision when the business is steadily in a financial growth? Something to seriously think about. Especially, if owning a business is an appealing idea, but is equally as much a mystery to the aspiring entrepreneur. The key to success ultimately is determined by the plusses and negatives found in the business's balance sheet. And, a focus on this will dispel many of the mysteries and emotional challenges to owning a business.
Joseph T Farkasdi is the President of JtseF, Inc. and is a member of the Financial Freedom Society. He is an entrepreneur who is committed to helping others achieve the financial lifestyle they desire. For more information, visit http://www.jtsef.com/financial.htm .
 Google News Updated : Thu, 16 Oct 2008 02:44:32 GMT Drinking and the Shrinking Brain - Washington Post
Washington Post - Nobody wants to think about their brain's shrinking. But our brains do so as we age. They decrease in size by about 2 percent per decade; and the brains of drinkers may shrink more quickly, according to a study published Monday in the Archives of ... Alcohol shrinks your brain! ...True, sad story Is Drinking Shrinking Your Brain? Publ.Date : Wed, 15 Oct 2008 11:02:40 GMT McCain brings up '60s radical in questioning Obama - The Associated Press
The Associated Press - NEW YORK (AP) - Republican John McCain is raising rival Barack Obama's link to a 1960s radical in the final presidential debate. What We Want to Hear Where is the room for John McCain to Succeed? Publ.Date : Thu, 16 Oct 2008 02:13:48 GMT Hill's late jumper lifts Suns past Hawks, 102-100 - USA Today
USA Today - ATLANTA (AP) - Grant Hill made an 18-foot jump shot with 5.6 seconds left and the Phoenix Suns beat the Atlanta Hawks 102-100 in a preseason game Wednesday night. Nash leaves preseason game vs. Hawks Suns superstar Nash leaves pre-season game with sprained ankle Publ.Date : Thu, 16 Oct 2008 02:10:47 GMT New MacBooks Shine Light On Nvidia, Intel, SSDs - CRN
CRN - Apple launched its new family of MacBooks to great fanfare at its Cupertino, Calif. headquarters Tuesday. After the initial flurry of speeds and feeds, here are some thoughts about the new lineup and what it means for the industry. Enterprise Mac | Tom Yager New Macbook lineup to feature GeForce 9400M GPUs Publ.Date : Thu, 16 Oct 2008 00:07:24 GMT Movie Review - Entertainment Weekly
Entertainment Weekly - DUBYA Josh Brolin stands out as the soon-to-be former president in Oliver Stone's W. By Lisa Schwarzbaum As his second term as the 43rd President of the United States concludes in national financial upheaval, the real George W. Bush is a figure more ... Video: George Bush on the Big Screen Where's Dubya? Publ.Date : Wed, 15 Oct 2008 22:01:30 GMT US infant mortality ranks lower - San Jose Mercury News
San Jose Mercury News - By Mary Engel After a century of declines, the US infant mortality rate barely budged from 2000 to 2005, causing the United States to slip further behind other developed countries despite spending more on health care, according to a report released ... Infant Mortality: US Ranks 29th Infant Deaths Drop in US, but Rate Is Still High Publ.Date : Thu, 16 Oct 2008 00:11:36 GMT Madonna, queen of reinvention, to divorce again - Reuters
Reuters - LONDON (Reuters) - The key to Madonna's enduring appeal has been to stay one step ahead of the game in the famously fickle world of pop. Video: AP Exclusive: Madonna, Guy Ritchie to Divorce Madonna and husband Guy Ritchie announce plans to divorce Publ.Date : Thu, 16 Oct 2008 00:53:05 GMT Increase Online Traffic |
PARLOT::Ebooks, Scripts,
Websites, and more... Through just five or six intermediaries, you could be linked... Read More I have worked in the credit industry for over 17... Read More Any success you have in life must begin with a... Read More I recently took an entrepreneurial quiz which evaluated my answers... Read More When companies enter into negotiations with venture capital firms, there... Read More I hear it all the time. "What should I do... Read More Once upon a time, there was a village on the... Read More Many people are starting an online business without a thought... Read More When you buy a business, you should have a plan.... Read More Forging partnerships to improve market penetration has become commonplace, particularly... Read More Discover the pitfalls of owning your own business BEFORE... [you... Read More If you are just starting a company and looking for... Read More Would you like to find the key that unlocks the... Read More What would it be worth to you to receive a... Read More Bootstrapping a business startup does not necessarily mean that you... Read More Business opportunities are often based on broad trends, such as:?... Read More As I awaken with the gift of yet another day... Read More Why, exactly, do you want to go into business for... Read More Habits get a bum rap. When you think about your... Read More Will I be successful as a franchisee?One of the soundest... Read More Starting your own private label clothing company is not as... Read More Who would ever have imagined that going door-to-door in my... Read More Are you busy? Everyone's busy! Ask anyone they'll tell you... Read More Many franchise companies fail to send the proper message to... Read More The psychology of entrepreneurship can be very rewarding to one... Read More
Adsense
websites
Six Degrees of Separation
How A Woman Became A Successful Bill Collector In A Mans Industry And How You Can Too!
The Visionary Entrepreneur
Compensating for Your Entrepreneurial Style-or Lack of Style
Venture Capital Negotiating Issues
Create Your Entrepreneur Dream Team
Entrepreneurs, Are You Hauling Buckets?
Protect Your ASSets in Business
Adding a Service After You Buy a Business
Documenting Partnerships in Your Business Plan
For Business SUCCESS... Listen To The Voices of Experience
Should You Write Your Own Business Plan?
How To Find Hot Online Business Ideas
100% of Nothing
Starting Your Business: 3 Tips for Bootstrapping Your Way to the Top
Evaluating an Opportunity
The Entrepreneurs Prayer
Are You Sure You Want To Start Your Own Business? Part Two of a Series
5 Habits Of Successful Entrepreneurs
Find Out If You WILL Be Successful As a Franchisee?
Key to Starting Your Own Clothing Company
The Entrepreneurial Difference
Work On, Not In Your Business
Message to Prospective Franchisees for Franchisors
Youth Entrepreneurship, A Disappointing Truth
Affordable and Reliable Web Hosting Starting at $4.49/Month
From Bank Clerk to Entreprenuer
What seems like a century ago, I left school and... Read More
Needs Versus Wants For Entrepreneurs
How often do the words "I need" come out of... Read More
Solving the Million Dollar Mystery: 4 Steps To Create A Turn-Key Business
You're a smart, hardworking entrepreneur, and you're moving fast. You... Read More
The Danger Of Hate
As you have shown an interest in starting a business... Read More
Mobile Car Washing Long Term Opportunities in the Market
The long-term outlook for the Mobile Car Washing industry is... Read More
Face The Fear, Ladies
Okay, I'll begin by telling you that I've been divorced... Read More
Selecting a Venture
The basic rule is simple: "Find a market need and... Read More
Creativity & Entrepreneurship: The Creative Evolution of an Intellectual PropertyŠ
In each of us, there is a creative spark -... Read More
Be an Entrepreneur
The Department of Labor predicts that the #1 employer in... Read More
Why I Should Go In To Business
Rohit Kochgaway was very upset with his boss for his... Read More
Lessons Learned from Successful Entrepreneurs
Entrepreneurs are a special breed of high achievers. They create... Read More
Is Now the Right Time to Become An Entrepreneur?
A number of economic changes are magnifying the role of... Read More
Traits and Skills of Successful Internet Entrepreneurs
There are certain traits and skills that many successful online... Read More
Taking Charge and Getting Results: The Choice is Yours
As one of the most successful direct sales entrepreneurs in... Read More
The 9 Key Distinctions of Successful Solo-Entrepreneurs!
SUCCESSFUL Solo-Entrepreneurs approach life and business from a perspective that... Read More
Raising Entrepreneurs: What to Do When Your Kid is Born to Think Differently
Adolescence brings with it many challenges ? for both parents... Read More
The Myth of Undercapitalization - Six Ways Entrepreneurs Achieve Success in Spite of Start-Up Money
This year more than 17 million people will become entrepreneurs,... Read More
Entrepreneurial Traits that Drive Sales
Frequently overlooked and hidden deep within our marketing tool box... Read More
Do You Have What it Takes to be a Successful Entrepreneur?
Print off this page, take the quiz and find out... Read More
Abstract Business Marketing Strategy for the Entrepreneur
If you look at those Corporations in franchising today you... Read More
Judging Entrepreneurial Ideas
Most entrepreneurs constantly come up with new ideas. Whether they... Read More
Are You Sure You Want To Start Your Own Business? Part Two of a Series
Why, exactly, do you want to go into business for... Read More
How Good Is Your Big Idea
Q: I want to start my own business. I have... Read More
Everything You Wanted to Know About Public Domain Info, but Were Too Afraid to Ask!
What to Look Out For:Copyright - you absolutely must check... Read More
Oil Change Guys History; Part III
Studying the history of franchise companies is interesting is watching... Read More
Entrepreneur |