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Free Tina’s Tidbits red pash .. 2015/Volume 11 mini
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FreeTina’s Tidbits
red pash
.. 2015/Volume 11
mini
Cooking with AnnmarieLike FREE Products
Dinners Done Workshops
Annmarie Burch205-337-1244
ConsultantHost a Show, Catalog Show
Fundraiser, Bridal Show
PaSHStaff
Kaneshia SimsEditor-in-Chief
Shaneice SimsMedia Manager
Porter Branch JrIntern Writer
..
The Southern PaSH CompanyP.O. Box 781
Pelham, Alabama 35124www.redpashmag.com
205-567-4668
Red PaSH Magazine is a publication ofThe Southern PaSH Company LLC
Copyright (C) 2015All Rights Reserved
The reproduction of content or material is prohibited.
3 Ways to Avoid Business Failure
Did you know 44% of small businesses fail within the first 3 years? Scary!
It is every entrepreneur’s dream to build a successful business. The last thing on your mind is failure.
The good news is you can reduce your risk by avoiding the top pitfalls listed in the Statistic Brain’s Study.
1. Lack of Planning
Planning is critical to the success of your business, but you don’t need a 50 page business plan.
Start small. Grab a sheet of paper and write down your top priority for the next 90 days. Analyze the goal from every angle - financial, sales, marketing, employees and operations.
2. No Knowledge of Pricing
Entrepreneurs often under value their time. It’s no wonder pricing is one of the reasons why businesses fail.
Pricing is the lynch pin of your business. When your price is right, everything else falls into place.
Your best bet for charging what you’re worth is to focus on the outcomes (the benefits you provide) instead of the inputs (the number of hours you spend).
3. No Knowledge of Finances
This reason for business failure is especially painful for me. As a CPA, I wish I could help all entrepreneurs understand the key numbers that are vital to the success of their business.
People often say “work smarter, not harder” but what does that mean? I believe it means tracking and measuring your key numbers. You can improve what you measure. When you take the time to study your numbers, you drastically increase your chance of success.
At a minimum, you should know these numbers off the top of your head in real time: profit, overhead costs and accounts receivable.
Please don’t be fooled by your cash balance. You could be sitting on a ticking time bomb. The best way to prevent failure, is to be proactive with your finances.
The Bottom Line:
The best way to avoid being a statistic is to take control of your finances. No one cares about your business more than you.
Tina White, CPA, is the owner of Panoramic Business Solutions. She is a number-crazy, profit-finding accountant. She helps business owners enjoy the panoramic view of their finances and business. She can help your business grow with a customized pricing strategy, technology tips to shorten your learning curve, and a proven system to improve efficiency.
Tina’s Tidbits
Tina White, CPA
by Tina White, CPA of Panoramic Business Solutionswww.PanoramicBusinessSoltions.com
Urology Centers of Alabama’s
The Urology Centers of Alabama hosted its annual Christmas Party with a James Bond theme,“007”. Held at Dr. Michael Bivins’ home and sponsored by the centers 25 physicians, December 13th 2014, was a great day.
Although all the “secret agents” came dressed to “kill” theyhad a higher purpose in mind, they raised over $2,000 for Children’s Hospital of Alabama and collected toys in their toy drive.
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The PaSH Cardwww.redpashmag.com
This card is honored at stores participating in the Red PaSH R.U.N. program in the Birmingham area only. A full list of participanting stores can be viewed at www.redpashmag.com. For more information or to learn how your business can participate
email [email protected] or visit redpashmag.com(c) 2015 Southern PaSH
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