Recent Articles

Industry Standards

Each industry has a set of financial standards accorded through years of operations and volume of business. Any new business going into an industry needs to understand the most likely outcome(s) from their respective industry. Statistical analysis tells us that it is highly unlikely for the new business owner to outperform the industry as whole. Therefore, if the business entrepreneur understands the financial realities, he can then deal with the setbacks as they occur.

Absolute Dollars

09/09/2014

In the hospitality industry, there is one financial tenet that takes precedence over any other business perspective.  In this industry, it is about putting the maximum number of dollars (ABSOLUTE DOLLARS) in the register after each day.  One of [...]

Effective Internal Controls for Cash

03/18/2013

All businesses should have internal controls to deter fraud, detect theft, and preserve assets.  Of all the assets, cash is the easiest to misappropriate.  Effective internal controls for cash prevent the proverbial hand in the cookie jar.   So [...]

Small Business Model Series Entry #4 – Basic Research

01/16/2013

Research is something I hate.  I don’t know which is worse, a dental visit or doing research.  This is why I didn’t go to college.  But, I know; I want to protect my hard earned dollars and I need to get smart about Automated Teller [...]

Retail Sales: There Are No Rules

11/29/2012

I credit my education to two men.  They taught me more than the graduate professors in college.  One was a self-made man, the other a hard core business man.  The later was involved in retail and it’s his principles of business that this [...]