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Business Fundamentals

We are coming into football season! I love this time of year. I got an email from my 12-year-old son’s coach he asked if I would be able to help as one of his assistants. This is my son’s 4th year playing little league football. During this first week of practice, I’ve noticed that the boys who have good fundamental skills seem to enjoy the game more. They seem more confident and they are greater assets to the team. Good fundamental skills also apply to running a small business. Just like the boys who master blocking, tackling, and proper stance excel at the sport, business owners who master certain fundamentals excel at business. These fundamentals apply to all businesses. I would list business fundamentals as follows.

  • Fundamental Number 1 Great Customer Service. Ask yourself. Do I treat my customers the same way that I would want to be treated? Do I smile when I interact with them? Do I greet them by name? Am I respectful of their time?
  • Fundamental Number 2 Good Record Keeping. Ask yourself. Do I keep good records? Are my receipts in an organized place? Do I keep my business expenses separate from my personal expenses? Is my checkbook balanced to my bank statement each month? Do I know financially where I’m at?
  • Fundamental Number 3 Consistent Marketing. Ask yourself. Do I have a consistent plan? Is my marketing paying for itself? Am I exploring new ways to market? Am I getting referrals? Am I keeping up with current technology in marketing? Am I willing to devote resources to growing my business?
  • Fundamental Number 4 Enthusiasm, Baby!. Ask yourself. Am I positive? Do people like to be around me? Do I speak too slowly? Do I walk too slowly? Does my body language emit passion for what I do and for my customers and employees?

Here at Valentine CPA, we’re here to help make life easy. Reach out to us today for any tax or financial questions or concerns!

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Guide to Financial Planning

  • Jan 3, 2016

Identify monthly outflows as living expenses, savings, and discretionary. Eliminate unnecessary expenses from the discretionary category. If further cuts need to be made, reduce living expenses by obtaining a less expensive auto or home. Reduce savings as a last resort. Track income and expenses monthly and review every six months...

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Guide to Charitable Contributions

  • Jan 2, 2016

Qualified charitabl organizations include non-profit groups that are religious, charitable, educational, scientific, or literary in purpose, or that work to prevent cruelty t children or animals.......

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The hardest thing to understand in the world
is the income tax

- Albert Einstein -