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You say you recognize where your money goes and you don’t need to have it all listed to keep up with it? I issue you this test. Keep track of every penny you spend for one month and I do mean every penny.

You will be shocked at what the itty-bitty expenses mount up to. Take the quantity you used on just one useless item for the month, multiply it by 12 for months in a year and multiply the end result by 5 to represent 5 years.

That is the amount you could have retained AND drawn interest on in precisely five years. That, my friend, is the very purpose all of us might need a budget.

If we can get control of the small charges that simply don’t matter to the overall scheme of our daily lives, we can benefit from financial successes.

The tiny things really do matter. Cutting what you shell out on a noon-time meal from five dollars a day to three dollars a day on every work day in a 5 day work week helps you to save $10 each week… $40 a month… $480 yearly… $2400 in 5 years… And interest.

See what I mean… It really IS the small things and you continue to eat lunch daily AND that was only one place to cut back money in your daily life without doing without one thing you really will need. There are a lot of areas to cut expenses if you look for them.

Set some detailed long term and short term targets. There are no wrong answers here. If it’s essential to you, then it’s necessary period.

If you want to be able to make a deposit on a house, start a college fund for your kids, buy a sports car, take a cruise to Aruba, invest in companies going public, or even get started in a public shell or shell companies… Anything… Then that is your mission and your reason to get a grip on your financial condition now.

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When a business discovers a need to expand or buy a new business altogether, they most likely require additional funding. This will likely require a trip to the bank or other financial institution to discover the next steps in the process. Often, the uninformed customer discovers they need to shop around to several institutions before finding a suitable option for their lending needs. Some business owners opt to seek the advice of firms that collect information from lenders all over and find the best one for you, saving you all the legwork.

However you go about finding the best lending solution, there are several steps that must be taken to ensure success. The most important part of securing financing for your business is the collection of facts. From the amount of money you need to borrow to how much you can pay per month to property value, it’s crucial that the lending institution have all the information to make a decision with regard to your financial needs. Knowing what information the lender will need will help move the loan application process along more quickly.

Next, the borrower must make appointments with perspective lenders and discuss the business needs. The lender will need to see your business plan, profit and loss statement, and likely other financial documents in order to proceed. As they collect the information, they prepare the loan application for processing. The lender will also require personal information on the borrower(s) such as their credit rating to include in the application.

Once the lender receives the required information, they will process the loan application. Lenders can usually have an answer for the borrower within a couple of days and can have the funds available within a few business days in most cases. In all steps of the loan process, it’s important for the borrower to seek sound advice from financial experts to ensure they make the best decision for their business.

Whatever your individual business needs, a commercial business loan can find a way to help you meet your financial obligations. With a variety of lenders available to help and a great many varieties of lending opportunities, most businesses find it easy to secure the capital they need to expand, purchase assets, or buy a new business property. The loan process can be confusing to some, but with a vast array of experts and financial institutions to help, borrowers can easily find their way to the appropriate loan.

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From Marketing Director of Fears & Clark Tulsa Real Estate Group & U.S. Small Business Administration Entrepreneur of the Year
- Clay Clark

As an award-winning serial entrepreneur and professional in the Tulsa real estate market I have the spent much of the past 10 years building businesses, systems and teams while working to create sustainable business models that cater people with jobs, opportunities, and measurable levels of success. However, I have only begun experiencing “True Prosperity” during the past 3 years. What is “True Prosperity?” What are the differences between “True Prosperity” and “Financial Prosperity?” Well my friend, let’s delve right into it?

What Is True Prosperity?

“True Prosperity” is about experiencing a new and innovative way living your life to the fullest everyday. “True Prosperity” is about knowing yourself, knowing your values and knowing what is sincerely important to you. For years I would get to work at 5:00 am and I would work until 8:00 pm without ever taking time out of my schedule for myself. I love basketball. I never played basketball. I love my wife. I never marinated with my wife. I love my kids. I never spent time with my kids. I have always wanted to record a ridiculous amount of parodies. I never recorded parodies. I love traveling. I only traveled once per year. Then the light bulb went off! I can travel now. I can play basketball now. I can record parodies now. I can marinate with my wife now. I can hang out with my kids now. I can work out now. I could do it now. I just had to create scalable and duplicatable systems that produced quality products and services that people wanted without leveraging my personal time. I had to begin scheduling my day, my week, and my life in a way that would allow me to live my life fully.

Can You Build Financial Wealth Without Achieving True Prosperity?

Unfortunately you can build tremendous levels of wealth without achieving and experiencing “True Prosperity.” As I travel throughout the country I see and meet tempestuous and time-poor millionaires all the time. Sure they have lots of money. Sure they might own a bunch of commercial real estate in Tulsa. Sure they might be the business guru in their community, but are they experiencing “True Prosperity?” Most people who desire wealth have the wealth building equation confused and backwards. They truly believe that if they could just earn enough money and build a big enough business then they would finally be able to take time out of their schedules to start enjoying their life.

They believe that if they just had a big enough business they could be able to spend quality time with their kids. I believed that if I earned just enough money I would be able to show my wife how much I loved her. It wasted years of my life not spending time with my wife. I missed birthdays. I missed ultra-sounds. I missed weddings. But I was building my business. My friends I had it all wrong.

My friends, the book the Maui Millionaire says that waiting to experience joy until you have a huge sum of money is like saying, “If I only had heat, then I would find some wood and light a match to it. To get heat you must first start with the wood, at the level of being. Then you need to take action. In this case, it means lighting the match and touching it to kindling (doing). This results in a fire (achieving). But all wealth begins back with the wood – with the person you are being at any given moment. The tragic part is that most people put off living until some far future date called “retirement” when they finally have a chance to do the things they love, so they can can be happy.”

What is Wealth?

To most people, the term “wealth” is strictly equated to the amount of money that one has acquired. This is not a good definition of wealth. Wealth should be defined as having more relationships, money, joy, health, satisfaction and passion in your life than you need. My friend, only small percentage of wealth comes from the financial success that we accumulate. Wealth is that feeling that you get when you have more than you need of nearly everything. Waking up knowing that you have all of time, energy, money and friends that you would ever want. That is wealth.

When you are wealthy and experiencing “True Prosperity” then you will have an unrelenting piece of mind that comes from having a true life balance. As far as I’m concerned wealth is actually broken up into the following areas: Spiritual Wealth, Mental Wealth, Physical Wealth, Financial Wealth, Passion Wealth & Relationship Wealth.

Spiritual Wealth – Do you know what you believe and why you believe it?

Mental Wealth – Is your knowledge base growing? Are you renewing your mind with new information and personal growth? Are you one of those people who goes through life upset because the “hand-written letters” are dissapearing? Are you upset that the internet is growing? Do you resist change? Mental wealth comes from relentlessly pursuing knowledge and self-improvement. Learning new skills to pay new bills.

Physical Wealth – Are you in shape or are you a shape? During my 10 year run of entrepreneurship glory and business success I let myself get weak and soft. I let my body turn into “a shape.” It wasn’t sure what that shape was, but it was a shape. The Bible tells us to “treat our body like temple” and yet I was “treating my life like a bowling alley’s public restroom.”

Financial Wealth – Are you doing a job that you dislike only to earn enough money to get yourself into deep debt by borrowing money for things that you don’t need? Are you following everyone else into financial oblivion? Are you investing in ambiguous mutual funds instead of in yourself? Are you investing in somebody else’s business instead of yourself? Are you investing in foriegn stocks owned by companies who you cannot operate rather that investing in your own financial future and your own real estate?

Passion Wealth – Are you doing what you love? Are you spending 40 hours a week working for the weekend or are you doing what you love everyday? Do you find yourself saying, “I’m so thankful it’s Friday?” or are you excited about each new work day? Are you working for a company you love and doing a job that you are excited about or are you working for a paycheck?

Relationship Wealth – Are you spending your time hanging out with negative and hopeless people or are you spending your time with encouragers and positive people? Are you spending time with people that build you up or tell you down? Are you hanging out with those that believe in you and your success or do you hang out with people who are sarcastic and pessimistic.

My friends we only live once. This life is not a dress-rehearsal. Today is your day and this life is your life. Stop putting off living until “someday when you have the money.” You could get hit by bus while reading this (if you’re reading a blog / website while driving). You could get struck my lightning any moment. Don’t holdup enjoying Spiritual Wealth, Mental Wealth, Physical Wealth, Financial Wealth, Passion Wealth & Relationship Wealth. Start living your dream life today.

Clay Clark
U.S. SBA Entrepreneur of the Year
Cofounder of Tulsa Real Estate Company Fears & Clark Realty Group – 918-481-2080
Founder of DJ Connection Tulsa – Tulsa Wedding DJs
Founder of Cherished Traditions Videography – Tulsa Wedding Videos
Founder of the Tulsa Bridal Association – Tulsa Weddings
Founder of the Make Your Life Epic Success Institute and Business Coaching Company – Tulsa Business Coach – Tulsa Motivational Speaker
www.makeyourlifeepic.com
918-851-6920

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With no need to build a different business entity, two or more distinct businesses can either buy, put up for sale or mix themselves to support an unwell enterprise or support funding a fledgling business to succeed swiftly.  The part of corporate technique, corporate financing and managing that are responsible for this process is known as mergers and acquisitions, normally abbreviated as M&A.

These two terms are often mixed but in many cases erroneously interchanged.  An acquisition is actually the purchasing of a targeted company by another, hence it is also referred to as a buyout or takeover.  Consolidation, in contrast, is when firms coalesce to form a new entity entirely, therefore the term merger.

Acquisitions may be antagonistic or amicable as seen generally through the target’s shareholders, board of directors and employees based on how it was conveyed to them and just how they recognize it.  Unfortunately, because of privacy arrangements it is pretty usual for M&A interaction to exist in a confidential bubble.

On the contrary, in aggressive buy-outs the prospective is usually hesitant to be bought or its board has no prior knowledge of the agreement.  These buy-outs can, and frequently do, go warm and friendly ultimately as endorsements are searched for and guaranteed.

In general, the larger and more recognized enterprise gets the smaller sized organization.  On the other hand, a reverse takeover will often happen when the smaller sized entity gains managing control over the larger one and keeps its name for the combined unit.

There is also another kind of acquisition known as the reverse merger.  This develops when a private organization with powerful potential customers and desire to get funding raise purchases a publicly listed shell company that has limited assets and no market share.

Having said that, becoming successful in buyouts and joint ventures has proved to be easier said than done.

Other names surfaced which includes “de-merger,” “spin-off” and “spin-out.”  All these terms mostly have to do with a scenario where a firm breaks off into 2 which can be either still connected and dealing under one parent group or acting separately.

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Whatever brings you to the decision to seek out a business financing solution; there are a good many options that may suit your needs. The key when delving into this complicated world is researching the many options to find the one that’s right for you. This will help you make the best choice to get your business on the right track. Often, you’re best bet is hiring a professional to give you advice and guide you in your decision. Whether you seek to expand your business, buy a new business, or increase your inventory, there are many ways the world of business finance can help.

Asset-based lending is a financing option that allows you access to advance funding based on your existing assets. This can be a good option when you need quick access to funds or if you simply don’t want to go through the entire lending process. The assets serve as a guarantee of payment to the lender. Asset financing is most often used when the business needs to purchase more machinery, vehicles, or other such inventory.

Invoice factoring is another way a business can secure finances relatively quickly. Business invoice factoring is an easy way to free up funds from your invoices. This option can give the business owner up to 90% of the value of their invoices within a couple of days. It can be an easy way to access funds without having to use assets as security, because the invoices essentially serve that function here.

Obviously, a small business loan would be a common option in the realm of business financing. This long-term loan is usually opted for in the case of start-ups or major expansion. The usually fixed monthly payments make it easy for the business to track expenses. These loans can be used for any number of expenses, which makes them a likely choice for businesses needing larger sums of money.

The option of a commercial mortgage is usually employed for major purchases or expansions. These are the largest-sum of all lending in business financing and are the longest-term as well. The convenience of the commercial mortgage makes them a likely choice. The many options within a commercial mortgage allow the business to tailor the funds to suit their individual needs. Whatever your business financial needs might be, there are a great many options in the world of business financing that can offer a solution.

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Your company has a unique value proposition to its customers, that’s why you’re in business. Therefore the concerns of your CFO can be viewed differently from industry to industry and company to company. There are some, however, that seem to be universal. We’re going to focus on three of them with respect to the Accounts Payable process and accounts payable automation.

The Problem with Paper-based Invoices

Financial statements should reflect the work and activities that occurred in the time period for those statements. But if your invoices are still predominantly paper based or still delivered directly to the office or requisitioner of the goods or services, you may still be looking at a lag time (sometimes substantial) between the time the invoice arrives and the time you can evaluate and accrue the appropriate value.

This should no longer be an issue. One of the better approaches is to outsource the ‘ingestion’ of your invoices, electronic or paper. With the proper controls in place, this could streamline the entry and quality of the information associated with your invoice stream.

Much has been claimed, over the last few years, about increasing the number of electronic invoices over paper-based ones. Although there seems to be ample agreement that this will improve the speed and quality of your invoices, vendors in the US have lagged behind the rest of the world in managing the conversion. Therefore most of us have to consider an operation that will not only deliver electronic invoices but process the paper ones as well. Having them both validated and made available for both coding and approval online allows you to consider all invoices as ‘electronic’ because all of your information comes to you that way. Doing this allows you access to the following:

The benefits of AP automation

Most AP Departments are looking to increase the productivity of their workforce without the sometimes accompanied downturn in morale. As we said above, outsourcing the paper part of the operation alone will increase the accuracy and productivity of the department. Automating the workflow for your PO matching and approval based invoices reduces the burden on all those involved in the PO process as well. Providing the tools to oversee the movement of your invoices focuses the time and effort involved directly on the problems at hand, rather than spending their time ‘running them down.’ These tools and processes, now automated, provide the following benefits:

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Credit card transactions have become a common means of payment for business transactions. Earlier, banks were the primary credit card processing agencies. Improved technology and the internet have allowed third party agencies to enter this domain, and they are offering faster and cheaper services to merchants.

Credit card processing rates vary across the market. They can depend on sale amount, sale volume, credit ratings of the business owner, and purchase or lease of point-of-sale (POS) machines by the merchant. Credit card processing companies can charge a percentage of the sales amount per swipe, a flat fee, a stepped fee or both a fixed fee and a percentage of the sales amount.

Businesses should verify their financial statements periodically, or at least once a year, to make sure they are not paying more than required as credit card processing fees. This review can often result in the business changing its credit card processing agency to improve its bottom line.

Though a good processing rate is agreeable, other factors also need to be looked into incase you plan to change your credit card processing agency:

Compatibility with existing hardware and software

The credit card processing firm should have a system that works well with the existing hardware setup at the merchant’s business. Credit card slots are available on phones, computers, wired and wireless machines. Similarly, the software for sales entry may allow return charge, subscriptions, and recurring charges. The credit card processor should be equipped to process these instructions accurately.

Support for online shopping cart applications

Many businesses have web sites that allow online shopping through a shopping cart application. The credit card processing system should be able to support the application. Downtime of applications is not just a coding nightmare, but also an inconvenience to the customer and a sale killer.

Availability of funds

Credit card processing firms usually process a batch of credit transactions once every 24 hours. The funds are not available immediately after processing. If immediate availability of funds is a major issue for your business, this is an important consideration.

Credit card processor is hardware specific

Some credit card processing companies offer hardware specific solutions. Merchants have to buy POS instruments from the company in order to support the credit card processing system. The low processing fee is counterbalanced by the amount you shell out for the POS terminals. If the services and rates of the company are good, you can go ahead with the deal, as hardware is reprogrammable and can be sold off later.

Quality of customer service

POS terminals installed by the credit card processing agencies should be easy to use. Merchants should not have to call customer care for every issue, and if they do, the response should be fast.

Good service and good processing fees are equally important in a credit card processing agency. A low processing fee does not do the business any good if sales cannot be processed smoothly due to slow processing times, hard to use machines and unhelpful customer service. Verify the credit card processing agency on all counts before partnering with it.

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Outsourcing payroll services has plenty of benefits. On this article, one can find 7 advantages an organization can have by outsourcing payroll services.

1.         Time and useful resource saving: By outsourcing your payroll services, it can save you your in addition to yours workers time and might concentrate on some better things that may assist in the growth of your business.

2.         Low price: Outsourcing payroll services is not that costly, especially when you consider the aggravation and time saved. The advantages provided by the outsourcing payroll services far outweigh the associated fee associated with it.

3.         Experts: As your organization grows, you will come across some issues that want some sort of help and data to sort out, a payroll processor being skilled in the subject will assist you on this process. As an example, if you have employed new employees in some different state then there are numerous several types of points that you’d must research earlier than you add new workers to your payroll.  An skilled on this subject may help you to get your company registered in the new state. There isn’t a need so that you can fear about the charges of payroll tax present in the new state and setting them in your payroll system as the payroll services suppliers can be in a position to do so very quickly.

4.         Staff get their salaries on time: By outsourcing payroll services, you save yourself from the concern of signing the staff’ checks and then electronically transferring the checks in their accounts. All these duties lay with the payroll services providers. There are also payroll services that will maintain the submission of tax deductions to the required authorities agency. This would additionally save you from the responsibility of making tax payments to completely different government bodies.

5.         You will at all times have up to date software program: With the change in the payroll tax rates, you usually must fight with your firm’ s payroll division of your office to update the tables according to the brand new regulations but with payroll services you’ll routinely have all of the updated info with you.

6.         Complete data in your fingertips: Many payroll services possess great software that lets you take a look at the payroll reviews at a glance and likewise enable you to create customized reports. It is easy to create extra time experiences, vacation and sick days go away report and numerous other varieties of report that can be used for several reasons.

7.         Relief from bank reconciliation: For those who plan to maintain your organization’s payroll your self, then you’ll be required to deal with the reconciliation of the checking account from which your payroll checks could be paid out.

It could actually take a lot of your time, particularly you probably have lots of of staff working beneath you whom you want to pay a number of instances throughout a month. But when you outsource your payroll services then the payroll services supplier would pay the staff from their bank account. This would result in only one transaction as an alternative of so many transactions in your financial institution account. Thus, payroll services can provide you relief from bank reconciliation.

Hence, payroll services are nice as they save a lot of your time and help you to focus on better things.

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When it comes to building long-term customer relationships, personalized communication is essential.  Unfortunately, it can be difficult to manage.   By outsourcing your customer communications to Standard Register, you can leverage our data processing, digital printing and Web based capabilities to find practical solutions that will increase the effectiveness of your customer communications.  All of this can happen while your company complies with regulations and reduces its total operational costs.  Customer notices, transaction documents and enrollment and membership materials are all included in effective customer communications outsourcing.

Transactional Documents

Transactional documents can take on a number of roles in an organization.  These documents:

• Allow you to interact with your customers on a timely basis and in relevant ways.
• Provide secure means of communicating sensitive customer account information.
• Need to be free from accuracy and quality issues.

Outsourcing customer communications, especially with such important documents can be scary.   Finding a solution that fits your company – whether big or small– can be even more challenging.   However,  outsourcing ensures accuracy and quality in transactional customer communications, reduces statement and billing costs (even as the price of postage continues to soar), increases billing speed, decreases the time it takes to get paid and provides effective and targeted customer communication.

Notices To Customers

From rate change alerts to past due notices and insufficient funds , financial institutions are always sending account communications to their customers.

Though many financial services providers transition to electronic presentment methods of communications, the majority of customer communications sent by financial institutions are mailed.  This can be a costly endeavor, as postage prices are expensive and regularly increasing .  To cope with these rising costs, organizations look to improve the efficiency of their print and mail efforts.  Outsourcing your print and direct mail efforts to Standard Register can save up to 30 percent!

Membership and Enrollment

Managing enrollment can be difficult and the paperwork may seem endless .  Any organization that has members understands they must take care of pre- and post-enrollment materials, summary policies, new account kits, quarterly statements and associated business forms.

Within a document management service, current records are digitized and placed in a digital repository.  Driven by brand compliance rules and content available in the repository, the document management service will be able to assemble booklets, letters and kits—each fully personalized for the intended recipient.  Additionally, several of these services provide language translation services, as well as print and online distribution.  This means a recipient will only get the information relevant to him or her; the information will be in the appropriate language and delivered in the preferred medium.

Personalizing customer communications can be made easier when it is given to third party document management services providers .  Not only will outsourcing these customer communications cost your company less, it will also ensure they are given the priority attention they deserve.

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Outsourcers, also referred to as clients, utilize the services of providers, also known as vendors or suppliers, to enjoy several advantages or deal with particular worries.

First of all is the cost reduction.  Industrialized businesses generally get expert services from offshore vendors, specifically from developing countries as a result of gap in wages or labor arbitrage.  Businesses involved in outsourcing can also take benefit of cost restructuring or operating leverage, which is a evaluate comparing fixed and varied costs.  Considering the outsource feature, the move from fixed to variable cost and the predictability of the latter may be achieved efficiently.

Second is the shifting of concentration to central business functions.  Applying work and sources only on routines which were central to the company’s existence would yield more results.  Leaving the non-core tasks to the experts can be beneficial.  This will usually increase quality: the clients’ and the vendors’ (by seeking other vendors and establishing a friendly competition among the list of contenders).

Rather than the thrilling prospect of experiencing a new business companion the outsourcer likewise gains knowledge and wider experience, even having access to intellectual property.  An array of talents and workforce both local and abroad also become available.  Operational abilities, specialization and recommendations might be shared between partner companies.  It’s possible to learn from the other, and or vice versa.

Scalability—the ability of the client to control a non permanent or permanent rise or dip in production—will be feasible with the aid of the supplier, just as capacity and risk management.  When there’s deficiencies in or an excess in potential, the supplier takes care of it and also the client is spared the headache.

To entice potential outsourcers from all over the world, some international locations offer incentives just like tax incentives as well as the government coordinating the funds for the venture capital funding so clients can set their business up.

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