Today credit cards in the world are increasing and has become the lifestyle of today. Credit cards not only allow us to credit the home, electronic equipment or vehicles, but the credit card has been regard as a magic card in all the shopping area, with just swipe the card without spending cash.
In many countries, people have to make a credit card as a means of transaction shopped everywhere. Almost everyone has a credit card and use cash already rare. It occurred to my mind at that time; the technology is very advanced in age, and everything can be bought only by using magical cards. But did you know credit cards also have an adverse impact should be avoided for its users?
Formula Credit Cards
But despite a myriad of facilities, the credit card must be used wisely. Because one-one we could fall into a deep chasm of debt. More fatal, we could bankrupt the total so that the financial condition of the family apart. Therefore, we must make ourselves understand the formula using the right credit card before applying for credit cards. The following do’s and do not recommend when using a credit card.
Follow the 20-10 rule
This is a general formula that can help you understand how much credit card debt that suits your ability. Credit cards are debt, so avoid arrears of more than 20 percent of your annual net income (no other debt). The credit payments should not exceed 10 percent of your monthly income.
Shopping is fun, but if you do not need anything, you should not go shopping. Many women became hungry eyes and bought anything that caught her eyes. Avoid such habits and learn to restrain yourself from not spending if it not planned.
Understand the Terms and Conditions
The best way to get more the benefits of your credit card is to understand your financial lifestyle, to identify where the needs and which merely desires. It is important to understand all the features and terms of our card.
Pay all of your Bills
The message is never to owe it to satisfy the needs of your consumer. If indeed you cannot afford to buy the goods at a high price, try to learn to be more selective and conduct priorities. Do not until you are only able to pay the minimum payment, which is mostly only for paid interest and penalties. Moreover, you are late and only paying less than the minimum bill and not paid in full.
Know Important Services
Write down important phone numbers to find out the remaining credit, bill amount, and payment deadlines so that you can control the type of transaction and payment data. Other services you should know is the contact of complaints in times of emergency such as your transaction is rejected or you lose your card.
Do not Overuse Cards
Of course, you may have more than one credit card. You should have a maximum of two credit cards with different purposes. One for the regular monthly expenditure, and another one just in case of emergency, for example, guarantees advances in the hospital.
No Cash Advances
When to go shopping, interest will begin to be calculated at maturity of the credit card payment, and you do not pay the full. While the cash withdrawal from an ATM, so when you take out money, then at that moment interest is calculated and indeed very high-interest rates of about 4 to 4.5% per month or it could reach 54% per year! So, do not take cash from your credit card.
We may keep abreast of the times, to enjoy the convenience, get a rebate when shopping, and fit your families needs with the help of a credit card. However, in using credit cards, we also need always to be prudent. Consider first before you make the loan and get yourself so that you do not pile up debt beyond your limits.
When we decide to get the partnership to open a wholesale business, we must conduct operations in mutual agreement. If we not confident or have the lack of skills, take a partnership is a smart idea. They are some basic features of a partnership include the wholesale business:
The partnership can be form from two or more persons, where the number of partners can be decided.
The profit and loss of your business divided among the partners according to the report pre-agreed.
An authentic partnership will be developed, which defines all the rights, obligations and responsibilities, the method of dissolution of the company.
The commitment of the partners is unlimited. If the company becomes insolvent, the partners required to contribute sufficient assets personal.
Some advantages why wholesale suppliers need partnerships:
Many investors can not open large retail companies, simply because the mass requires large investments. Other partners also contribute to the capital of the company, the entire capital of the company amounts. In addition, the company contributes to more capital for production and use machines to do on a large scale. The large scale production brings economies of scale.
Wholesale Trade is a large-scale enterprise, which involves dealing with suppliers and accounts, personnel management, production tracking, and marketing. Unlike the sole proprietorship, we can divide into the responsibilities of work or business between partners. It is allowed to monitor the company better and simpler.
If a company needs financing, banks or other financial institutions, see the details of the business proposal and confirm the ability of firms at risk to repay the money before. Since the partnership is the responsibility of loan repayment on the shoulders of all partners, banks feel more security and flexibility while paying a partnership business.
There is no force of law, a large business partnership register. However, when partners have different benefits for their business, wish to register, they can do. If the company is not the registered partnership, the partners required paying taxes on their profits individually. There is no double taxation in the affairs of the company.
Put accounts of a wholesale business in one place so that all partners can easily access it. Examine, review and control of the account books is the right of each partner. Since all partners can inspect accounts at any time, it is reducing the risk of fraud automatically. If fraud to take a partner, we can easily be intercepted by third parties. Sound decisions!
Every business needs to take timely decisions related to wholesale products and other aspects of the business. The partnership between the business decisions reviewed by all partners for a lot and met with mutual consent. Decisions take for mutual understanding and trust between partners, but also the chances of poor decisions.
How wise we do business if we can not regulate our business, the financial mess. Everyone knows and understands the important role the company’s financial arrangements. There are many ways and the technique; you can get it in the guide books or directly ask the people who are competent.
Here I am, as a beginner just want to share just based on what I experienced. So, for those who have experienced beg correction and guidance.
There is a kind of view that it is easier to manage the finance to businesses that have been smooth than organize business financial jam. According to them if the business deserted, finance what will be manage? How to? Here is our challenge to make the effort to be smooth and well-developed financial management as possible. Is it possible? Your efforts will gradually progress. Of course, you also have to heavily promoting and improving service quality.
So what is to be done in managing small business finances? Here is some points:
– Money Separate Business and Personal Money
It’s at number one because this is very important. Most small business bankruptcy mostly cause financial separation. It is important to separate the money for a business, where the money for personal purposes. Mixed up abysmally. SEPARATE! Take the salary of the results of your business profits for personal use. If not afford a big salary, so little also not okay, as long as recorded. If not able to as well, yes delay pleasure, tighten the belt to work on your business without pay!
Often small businesses do not separate personal finances with business finances. The reason is that the business is still small, so it is not complex. But this is a fatal error. So for two separate accounts, if you need an injection of funds takes with a certain percentage of the capital. Because when you buy your individual needs use the money business, so unconsciously money your business will be eroded and depleted.
– Take advantage of 3rd party or Use Software
Use an employee or a 3rd party to help do your small business financial records. Invest in HR. Or Even if it is not possible, use the software to manage your finances. In the market a lot of simple financial management software for small businesses for sale. The price varies according to the needs. These savings of time and work on hiring an accountant. Or if it can not also, do simple recording in a separate book or you can use Excel.
Very simple and easy way as long as we want to do. Things you need to prepare at least make a separate record book that records every transaction. What is it?
1. Books Cash Flow
Note out of the money in real terms. It contained only record outgoing and incoming money only. From any post. Simply put all!
2. Book Inventory
Notes for each increment of goods entered for the purchase to the supplier that we do and the reduced goods as sold. It is also very SIMPLE!
3. Purchase Ledger and Sales
Note the money out because of the purchase of goods that we do for the value of the dollar. Note the value of rupiah each of us make purchases of goods to the supplier. Also take note of the money goes for sale. This book can also be a summary of the cash book, but special purchases and sales only. Collect data from daily cash book, put this book. With this book, we can monitor how much buying and how much sales (turnover), and the difference directly into gross income before deducting expenses.
4. Book Debt
If we usually already have. Yes, note payable and receivable your customers to the supplier.
5. Book fees and other income apart from the sale of goods / services we
Note fees and other revenue to collected in an account / book itself. It’s important to get data net income. While another income was, for example selling used cardboard, parking, etc.
It seems complicated. But if still confused you can buy introductory books accounting, or taking a course in basic accounting, or use the software. Or if we need to hire employees who understand the accounting for financial records of your business.
We can not deny that the capital is a significant contributing factor that can boost your business to be more evolved. When you want to get capital, but you are not interested to borrow from, so one way you can do is to establish cooperation with investors. However, in establishing such cooperation, then you need to prepare a business proposal to seek capital by way of investment.
However, the most common obstacle is our ignorance about how to make a proposal that is good and right; this constraint is not only happens to those who are less fortunate in getting higher education. Even they have gained experience in school admitted it is difficult to make a business proposal. That is why in this article I will peel completely on how to write a business proposal in accordance with the rule – the rule.
Introductory chapter is an introductory chapter in which you elaborate on the background of your business, vision and mission of your business. The paper is a picture of the business you want to run as well as how the current market situation.
In this section, we elaborate on what kind of business we want to run briefly. You can describe the form of a list or brief description. Then briefly mention its business model. We should also include the name of our company. Why? The company name is branded to be remembered by your customers. Then specify the name of your company and write a business proposal.
One very important thing in business is the location choice especially if you sell directly. The choice of location is an absolute thing that you should consider, write down the location of your company, and then create a map or floor plan. You can use an application that is now very easy for us in making the site plan.
Company Organizational Structure
Each company has its organizational structure – each if you stand alone or you set up a system that makes your company run by a system of cooperation between the owner with employees. If your company has a system of organizational managerial then mentioned the start of the business owner, manager or managers, marketing, etc.
Product is the life of the business, if you do not have a product that you are selling then you obviously cannot run a business. We have to specify what type of products you produce. We need to describe how to manufacture your product. You try to specify the uniqueness of your product, plus the value of product excellence to your product.
In addition, you must mention that you are ready to target your market. It is the areas where and how old and which circles. Suppose X is an area of the city, to the age of children from the middle to the bottom. This chapter also describes the marketing strategy that you do as well as promotion.
To be convinced investors to invest, we have to give details of the design of the funding requirements and expenditure of funds that you will use to attempt. Include to provide logical and realistic calculation of your finances, the target profit and loss, threat risk, etc.
After all the above elements completed, then you live determines how revenue ratio would you define. How to determine the ratio of the result depends on the business risk, the smaller the business, the smaller the risk of revenue also given to investors and vice versa.
The cover contains your last words to convince your investors, knocking your heart to be more interested investors, as well as prayers and your expectations on your proposal. Do not forget to say thank you for your willingness to read your proposal.
Finally do not forget to attach the bio data owner of the company, the Company’s license and others. A little note for you, the business proposal should be written with 12 font size and spacing of 1.5 on A4 size paper.
We often hear about the franchise. In fact, you may also frequently offer this type of business. How many times have you heard of starting a franchise business in a way that seems to have been right, but only a few months, the business is closed. There are also people who just choose a business that already has a popular name, with the assumption that the benefits would have been easy.
Due to mismanagement, the business remains profitable end. Franchises like other types of businesses in terms of management. It takes more than a big capital and famous who choose a franchise that suits your names.
Beginners Executive recommends using other people’s products that already exist instead of starting a business by selling the products of their creation. The reason to sell existing products, business beginners need not worry more to learn or educate the market about your products. That is, if you are a beginner in the world of business, it will be easier to become a distributor rather than producers.
A more important in selecting a franchise factor do not only to provide adequate budget. The other factors closely related to their interests, location of the business and their personal capacity to manage and implement the type of business. Franchise business has a set of supplying products, logos and package your own business, but that does not make things easier for granted.
Franchising is still a business that must be properly manage in order to grow and succeed. Otherwise, the fate of your business can be the same as the various types of similar businesses that success could not be done by the owner.
Today, many manufacturers are offering agency or distributor system. If you dream to try one of them, the following tips can help beyond doubt.
Always select the type of the franchise industry according to their interests. If you are not love to cook or who are not interested in the culinary field, never feel satisfied with their job of managing a coffee shop franchise or dinner. Even no matter the franchise is well known and widely covered in various media online communication.
Choose the type of business that suits your interests, it will be easier for the management and development in the future. They choose the type of franchise that does not agree with the interest is one of the most common reasons why so many similar companies went bankrupt in no time. Of course, this does not mean you are so afraid to try new business opportunities, but it should at least have the first stake in the company.
Select the type of franchise business that can apply your environment, it not only about their popularity. If your location in an area where most people do not need a laundry, which is useless opened a laundry business even if you know that there are many opinions. The best way to find these opportunities are conducting a survey diligently in an environment that you think will be your workplace, noting the type of community and choose the right type of business. Here are some recommended tips on choose a franchise.
You have to find more information about this kind of business. You have to analysis of the potential benefits, potential customers and so on, not just pick one that you think is good without thinking about it first.
These things you can do when choosing a franchise, but there are three main points that any potential franchise owners should consider the most suitable. Moreover, you should pay attention to the following points.
Trusted products. The fact is that the product you choose should, in fact, that has proven in the market. That is; the product is sold and favored by many buyers.
The uniqueness can be a consumer appeal. However, care should be taken with a new and unique product. We must be curious if the uniqueness of the product has tested and can make a buyer lined up. Check how long the product to survive in the market. If more than one year, you should not hesitate to come to sell it.
Select the one with good management. Good franchise is to have a good product, sold in the market and well managed. A simple way to determine whether managing a franchise good producer is crowded franchise buyers of these products asked.
Hopefully, this article on the franchise can provide useful information to the reader.