Recent Articles

November 2014

Substitution Principle in Business

11/24/2014

There are a multitude of principles used in business, some are industry specific, others are functions of business.  But there is one that is a general principle that is used across the board in all areas of business.  It is called the [...]

People, Process & Product – The Profit

11/20/2014

Marcus Lemonis is the star of a TV series show called ‘The Profit’.  He helps failing business turn around and become successful operations by fixing the three core elements of every business.  He refers to these elements as the 3 P’s: [...]

Real Estate Agent – Drawbacks and Delusions

11/17/2014

The highest prized benefit of owning your own business is independence.  You rely on your skills and have to report to no one but yourself.  This is the allure of becoming a real estate agent.  Imagine, making a lot of money and working when you [...]

Three Primary Characteristics of Successful Businesses

11/11/2014

Well, this is my 200th article in two years.  So I’m going back to the very first article I wrote and essentially rewriting that piece.  When I reviewed it, I thought how poorly written and formatted the piece is and therefore I wanted to make [...]

Tax Basis of Accounting – Accrual or Cash

11/06/2014

This is the most often asked question by all new businesses.  Should I be on the cash or accrual basis of accounting for tax purposes?  The common layman would always answer ‘CASH BASIS’ for tax purposes.  They say this because they [...]

Tangible and Intangible – Business Definitions and Use

11/03/2014

Tangible and intangible are terms with several different meanings.  A lot of well educated folks have a difficult time providing an all inclusive definition.  Someone once described tangible as ‘something that can be burned’.  Well, land is [...]