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Add You - Your EBIDTA and You
Toxic Employers: You've Got to Know When to Run
The buzzing of the alarm clock rudely awakens you to the reality of another Monday morning and the beginning of another work week. As the ugly thoughts of what you face at work race through your mind, you think to yourself how you don’t—no can’t, go into work again. You wonder whether you should call in sick, but realize that you can’t do that again as you’ve already done it too many times. You have to go in, but you can’t face that place again.What would cause someone to feel this way? What could be so bad? Is it because he is irresponsible? Afte
rds, etc.)?
The buzzing of the alarm clock rudely awakens you to the reality of another Monday morning and the beginning of another work week. As the ugly thoughts of what you face at work race through your mind, you think to yourself how you don’t—no can’t, go into work again. You wonder whether you should call in sick, but realize that you can’t do that again as you’ve already done it too many times. You have to go in, but you can’t face that place again.What would cause someone to feel this way? What could be so bad? Is it because he is irresponsible? Afte
Add everything up and then subtract that figure from what’s left over after paying yourself. Remember to always pay yourself right off the top because (you guessed it) your business must serve you, not the other w
How Does Branding Help In Retaining And Getting Repeat Customers
A great branding campaign is an asset to your business and is sure to pull in repeat business. Here are the reasons why:Inspires trust: –A branded product or service tends to inspire confidence in people because there is the perception that the quality of service will be higher. This is usually because the branding makes the product or service easily identifiable and it becomes more important to the business to maintain a good reputation. People tend to view unbranded products with a little bit of suspicion due to the pervasiveness of brand
I went to Les Schwab Tires this week. Not only did they do a great job with the pair of new tires I purchased, they found some problems with my “good” tires and fixed them up at no extra charge. I’ve seen this superb standard of customer service every time I’ve shopped there and I no longer even bother calling other stores because I know that Les Schwab is a quality outfit. They are a national chain with big marketing money behind them but they haven’t lost sight of the fundamental truth that good marketing will bring people in but excellent service is the only way to keep them coming back. Far too many small businesses haven’t learned this lesson. I hope you have.A great branding campaign is an asset to your business and is sure to pull in repeat business. Here are the reasons why:Inspires trust: –A branded product or service tends to inspire confidence in people because there is the perception that the quality of service will be higher. This is usually because the branding makes the product or service easily identifiable and it becomes more important to the business to maintain a good reputation. People tend to view unbranded products with a little bit of suspicion due to the pervasiveness of brand
OK, back to your business startup. Last week you looked at your projected revenue and sliced your share right off the top. If you’re still with me, then it’s safe to assume that your ideas have passed this first step of the financial planning process. If not, then you need to rework your model until the numbers make sense before you can possibly move on.
EBIDTA stands for Earnings Before Interest, Depreciation, Taxes, and Amortization. It’s what’s left over after you’ve paid yourself and your operating expenses. What will it take to:
- Hire employees?
- Rent, lease, or buy office space and equipment?
- Purchase raw materials or items for resale?
- Create your marketing (Web site, logo business cards, etc.)?
- Get the legal, financial, and other help you’ll need?
- Pay utilities, insurance, licenses?
- Cover your many other expenses?
Add everything up and then subtract that figure from what’s left over after paying yourself. Remember to always pay yourself right off the top because (you guessed it) your business must serve you, not the other w
What We Have Here Is A Failure To Communicate - Why Do We Need A Corporate Renewal Industry?
According to a white paper available on the Turnaround Management Association (TMA) website, signs of a troubled business are (listed in their order):Ineffective management styleOver diversificationWeak financial functionPoor lender relationshipsLack of operating controlsMarket lagExplosive growthPrecarious customer baseFamily vs. business mattersOperating without a business planWith the possible exception of an ineffective management style signs 2 –
fit. They are a national chain with big marketing money behind them but they haven’t lost sight of the fundamental truth that good marketing will bring people in but excellent service is the only way to keep them coming back. Far too many small businesses haven’t learned this lesson. I hope you have.According to a white paper available on the Turnaround Management Association (TMA) website, signs of a troubled business are (listed in their order):Ineffective management styleOver diversificationWeak financial functionPoor lender relationshipsLack of operating controlsMarket lagExplosive growthPrecarious customer baseFamily vs. business mattersOperating without a business planWith the possible exception of an ineffective management style signs 2 –
OK, back to your business startup. Last week you looked at your projected revenue and sliced your share right off the top. If you’re still with me, then it’s safe to assume that your ideas have passed this first step of the financial planning process. If not, then you need to rework your model until the numbers make sense before you can possibly move on.
EBIDTA stands for Earnings Before Interest, Depreciation, Taxes, and Amortization. It’s what’s left over after you’ve paid yourself and your operating expenses. What will it take to:
- Hire employees?
- Rent, lease, or buy office space and equipment?
- Purchase raw materials or items for resale?
- Create your marketing (Web site, logo business cards, etc.)?
- Get the legal, financial, and other help you’ll need?
- Pay utilities, insurance, licenses?
- Cover your many other expenses?
Add everything up and then subtract that figure from what’s left over after paying yourself. Remember to always pay yourself right off the top because (you guessed it) your business must serve you, not the other w
How To Answer Employee Surveys
It's not only customer service that businesses are concerned about. Everyone knows that a business is only as good as its employees. Clearly, hiring good employees is the key to a good business. Of course, hiring them is a different matter from keeping them, and a more crucial one at that. So don't be surprised if a notice or memo about employee surveys is making rounds in your office. Your employer just wants to gauge your satisfaction about the company. But more than simple yes/no options, employee surveys are meant to gauge your interest in staying wi
your projected revenue and sliced your share right off the top. If you’re still with me, then it’s safe to assume that your ideas have passed this first step of the financial planning process. If not, then you need to rework your model until the numbers make sense before you can possibly move on.It's not only customer service that businesses are concerned about. Everyone knows that a business is only as good as its employees. Clearly, hiring good employees is the key to a good business. Of course, hiring them is a different matter from keeping them, and a more crucial one at that. So don't be surprised if a notice or memo about employee surveys is making rounds in your office. Your employer just wants to gauge your satisfaction about the company. But more than simple yes/no options, employee surveys are meant to gauge your interest in staying wi
EBIDTA stands for Earnings Before Interest, Depreciation, Taxes, and Amortization. It’s what’s left over after you’ve paid yourself and your operating expenses. What will it take to:
- Hire employees?
- Rent, lease, or buy office space and equipment?
- Purchase raw materials or items for resale?
- Create your marketing (Web site, logo business cards, etc.)?
- Get the legal, financial, and other help you’ll need?
- Pay utilities, insurance, licenses?
- Cover your many other expenses?
Add everything up and then subtract that figure from what’s left over after paying yourself. Remember to always pay yourself right off the top because (you guessed it) your business must serve you, not the other w
Creating Successful Classified Ads
Free Classified ads are a useful tool for a number of different occupations. You may be offering/looking for a job or advertising and work from home opportunity. Free classified ads were one of my first ports of call when trying to get referrals for affiliate programmes. They are quick and easy to set up, they are free and most importantly of all they give RESULTS.There are a zillion different free classified ad sites out there. To find them just type in Google 'Free classified ads' and there will be about 15 million results. My advice would be st
EBIDTA stands for Earnings Before Interest, Depreciation, Taxes, and Amortization. It’s what’s left over after you’ve paid yourself and your operating expenses. What will it take to:Free Classified ads are a useful tool for a number of different occupations. You may be offering/looking for a job or advertising and work from home opportunity. Free classified ads were one of my first ports of call when trying to get referrals for affiliate programmes. They are quick and easy to set up, they are free and most importantly of all they give RESULTS.There are a zillion different free classified ad sites out there. To find them just type in Google 'Free classified ads' and there will be about 15 million results. My advice would be st
- Hire employees?
- Rent, lease, or buy office space and equipment?
- Purchase raw materials or items for resale?
- Create your marketing (Web site, logo business cards, etc.)?
- Get the legal, financial, and other help you’ll need?
- Pay utilities, insurance, licenses?
- Cover your many other expenses?
Add everything up and then subtract that figure from what’s left over after paying yourself. Remember to always pay yourself right off the top because (you guessed it) your business must serve you, not the other w
Vending Machines For Sale - The Best Place to Start
Are you looking for vending machines for sale? You are aware that advertisements about vending machines are not like any other ads that you might normally find anywhere. Even in classified ads, are rare. Nevertheless, there are great opportunities for you if you are willing to use the internet to find a vending machine for sale.Some of the online businesses that sell vending machines have an established record in business and you can choose the vending machine you need. The sales clerks will assist you in choosing which vending machine is made of
rds, etc.)?
Are you looking for vending machines for sale? You are aware that advertisements about vending machines are not like any other ads that you might normally find anywhere. Even in classified ads, are rare. Nevertheless, there are great opportunities for you if you are willing to use the internet to find a vending machine for sale.Some of the online businesses that sell vending machines have an established record in business and you can choose the vending machine you need. The sales clerks will assist you in choosing which vending machine is made of
Add everything up and then subtract that figure from what’s left over after paying yourself. Remember to always pay yourself right off the top because (you guessed it) your business must serve you, not the other way around.
Having hacked and burned your way through your expected revenue, what’s left? If your EBIDTA is greater than $0.00, then your business has a fighting chance for success. If not, then you need to go back to the drawing board to see whether or not you can make it work. The operative question here is not whether you CAN launch this endeavor but whether you SHOULD. Hey, would you rather find out now or would you rather risk losing everything you have in addition to everything you’re trying to build?
All of this assumes that your business is up and running at its designed capacity. So far, we haven’t covered the startup phase. You’re going to need to invest a lot of time and money before your business earns its first cent. You’ll then need to keep infusing resources into the business until that magical day when your revenue finally catches up to your expenses, or “cash flow breakeven”. From there, you’ll need to pay back the initial investment. Only once all this is behind you will your business be truly profitable.
The trick is to figure out how soon your business will begin earning revenue and how fast that revenue will grow (with comfortable margins of error just in case). You then need to figure out the bare minimum you need to get up and running, when you can add additional components and take on more expenses, and under what circumstances. Don’t think that you need a “big bang” to get started at full capacity. On the contrary, determ
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