Recently, there was some speculation about whether or not Warren Buffet’s company Berkshire Hathaway would purchase a large interest in Kellogg – the cereals company.
Are you surrounded by “yes men”? If so, then they might be destroying your team and blinding you to bad ideas (yes, even great leaders have bad ideas from time to time).
Last week I shared some information about creating a simple income statement. Having the numbers is important because it’s the best way to evaluate the progress and growth of your business and to fix any problems in your financial ship before they get out of control.
When you hear about businesses, you normally hear about a corporation (which protects the individual members) or a partnership (which provides certain tax advantages).
But an LLC (a Limited Liability Company) is the best of both worlds and is great for real estate investing.
As part of my CD of the month (for my Gold Members) I interview someone who has been important in my professional life - usually either a mentor or a student. Recently I interviewed someone that has been with me since the beginning – my personal accountant Warren Taryle.
Is your business profitable? There is only one way to know: checking the bottom line using what’s called an “income statement” or “profit and loss” statement. Let’s have a look at how an income statement is prepared and why they are so important.
At its most basic, a monthly income statement looks like this: Net Income = Revenue - Expenses.
Once you have reached a certain level of success, the world expects you to give back. But I don’t think that you should wait until you are a billionaire to do so. I think that there is a lot that you can do right now.
I came across this website that lists 6 ways we can all give back to our communities. I especially liked number two:
