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Betty Penny Articles

Written by: Betty Penny

Setting Achievable Business Goals - Click To Read Article
Many in business think of setting goals as creating a better future with visionary results. We rely on our past experiences, new information and facts to help us set our goals. Setting goals sometimes goes beyond what we know to what our experience is, sometimes it is insight into what is possible. The best approach to setting goals is to envision short, medium and long-terms goals.

Education: The Key to Empowering Your Human Resources - Click To Read Article
Most entrepreneurs realize the role continuing education has served in their personal and professional growth. This growth accounts, in turn, for personal and professional success. Hence learning has become an important component of survival in the new economy. Education can be made affordable for almost every budget. Consider hiring a speaker to conduct a seminar on the premises.

Growth: The Human Component - Click To Read Article
Most entrepreneurs are loners intent on following their own intuitions and desires, guarding their business like secrets. Sharing information will, apparently, spark decline when a unique idea o product is stolen. In reality, if entrepreneurs want an enterprise to grow to its potential, they must learn early to share the work and delegate responsibilities. Enter the human component. The single most important factor in business is people: not only the owner/operator but also everyone who is involved in the planning and running of a business. Certainly the assertive, confident nature of the beast is needed in the early days of establishing an enterprise, but entrepreneurs must move beyond the belief that no on else can perform the job better or as well as they do.

Carpe Diem - Click To Read Article
The value of getting the most from every day as if it were new beginning is very fundamental and most of us have learned to do that in our private lives. Similar rewards and even financial gain are possible, however, the same approach should be adopted in your business and professional life.

The Corporate Crystal Ball - Click To Read Article
From local governments and charities to multinationals, a well-planned and implemented strategic planning program has helped these organizations plot their preferred future, rather than simply scrambling to react to change – good or bad – as it happens.To be effective, strategic planning must have structure. Thus, there is a pre-process. The course it travels will, naturally, vary according to resources, need, and whether or not this tactic has been tried in the past. But whatever the circumstances, there are a few basics to consider.

Hey Boss! - Click To Read Article
Perhaps a full or part-time assistant is needed to handle the administrative duties that often keep the owner/operator away from his or her “real” job. Others have no option but to “share” the real job with another qualified professional. This entire issue is further complicated by the fact that home-based sole proprietors tend to be a guarded group. The fear of loosing control and even clients is paralyzing.

Video Marketing Consistency - Click To Read Article
Include your website URL on a blue background at the beginning and end of your first video, do it again with the second and the third. It doesn’t matter if there’s a different URL: Using the same background colors that people identify with you or your website will make it feel like they’re watching something familiar and consistent. That breeds trust.

Watch the Pennies (Part #2) - Click To Read Article
Sometimes an internal review of office spending habits can save you some dollars. Is there a dedicated day in the month that your office does the purchasing or is it whenever you run out of supplies? Invoices from suppliers should be reviewed for surcharges, shipping and handling, which can add up to quite a bit if you order more than once a month. One suggestion might be to have a designated person in charge of supplies and ordering, which can also help you control your costs. Here are some more money saving tips to add to your list:

Watch the Pennies (Part #1) - Click To Read Article
Studies show that a major cause of small business bankruptcy is improper financing and not monitoring cash flows. By finding little ways to save money during your growth period you can significantly add to your long term profits.

Networking: It isn't what you do... - Click To Read Article
Remember the old adage, “It isn’t what you do, it’s the way that you do it?” Sage advice, particularly in the networking arena. Having used this tool to build my business I can attest to the power of nurturing and maintaining a working network. So many believe that networking is simply the act of meeting people and selling.

The Franchise Question - Click To Read Article
The question of whether or not to purchase a franchise plagues many new and established entrepreneurs. For some it seems like an east indoctrination to the world of being your own boss. For others, it appears as an opportunity to get in on a good thing without the risk of being an owner/operator and putting other business ventures at risk.

Think Smart When Volunteering As A Board Member - Click To Read Article
Today with everyone’s busy schedule, charities are finding it difficult to attract good leaders as board members to sit on their boards or committees. Good volunteers with skills that can help a not for profit organization are difficult to find. Outlined below are some of fact finding items that I look for in a not for profit organization that I would like to see before making any initial commitment to participate on a board.

Glass Ceilings and Sticky Floors - Click To Read Article
Many senior executive women emphasize that while most of us consider doing a good job results in being promoted, in fact political savvy, excellent communication skills, and an ability to take risks are equally if not more important to moving up the corporate ladder. This rule is true for both men and women, but women especially need to identify that being assertive, savvy and true to ones self is necessary and to find a style that works is important.Drop the old notion that only results matter, for they are really only part of a total package. Consider that staying in the loop something is more important than working harder. Find put what the lines of communication are within your organization and follow them, stay on top of them and never be blind-sided by a lack of information.

7 Ways to Make your business Sustainable - Click To Read Article
Every year, businesses are paying too much for the financial services that they need in order to run their business, whether it’s leasing, credit cards, insurance or even with bank accounts. Here are 7 ways to help your business pay out less to help work towards sustainability. 1: Evaluate long term financial decisions such as a capital purchase with several options 2: Negotiate your line of credit when still employed or when you have stable income 3: When leasing property for your business, always try to negotiate an escape clause. 4: Vehicle insurance payments are too high 5: Credit card Interest Rates 6: Donating to charities 7: Finance Charges on Debit and Credit Card Transactions

Accounting Systems are not just for numbers - Click To Read Article
Many businesses believe the main reason to invest in an accounting systems is to keep records for the purpose of filing for income taxes and to keep their accountant happy. While this may be true, there are other benefits that can assist an owner managed business in being a sound business person and help them in running their business effectively. There are literally hundreds of accounting systems to choose from. A good accounting system is not just about numbers as they can keep track of your best customers buying cycles, inventory,money that is owing to the company, and suppliers terms and discounts. And some systems can serve as a sales and marketing tool.

Handshaking for Business, is that Smart? - Click To Read Article
Conducting business during the last century was based on building relationships, face to face meetings with firm handshakes, verbal commitments and being part of an inner circle of business friends. Handshakes today carry a different meaning altogether when doing business. People are generally more careful who they shake hands with; caused by the mass publicity about sterilization and hand washing to avoid deadly viruses. It seems that the North American tradition of having that firm physical handshake to do business does not hold true as much as it once did.

How to Determine Your Business Success with Financial Ratio - Click To Read Article
If you’ve ever wondered how well your business is doing - truly doing - one way to clear up the mystery is to use financial ratios. Financial ratios are used by accountants and bankers to evaluate everything from your current income ratio, to debts, to inventory, and even your return on sales or capital investments. A lower ratio means a more severe problem. Another important assessment step in financial ratios is estimating your debt equity ratio. The debt equity ratio compares debt and equity and the two types of capitalization.

How is Outsourcing going to Benefit Me? - Click To Read Article
In a recent industry study it was estimated that approximately 75 per cent of organizations expect to consider, or employ, outsourcing within the next three to five years. When deciding upon a consultant to perform the outsourcing task at hand it is important to determine the best consultant for your specific needs. Outsourcing can be an invaluable tool for any business.

How to be Successful - Business Banking - Click To Read Article
For anyone in business, banks do play a key component in the corporate structure. It is important to establish a positive working relationship with your bank and there are certain measures, which you as a businessperson can take in order to secure this relationship.

From Bricks to Clicks; Online Retail Visiblity - Click To Read Article
We are in a different era of doing business where you need to supplement your bricks and mortar operation with an on-line presence to reach more of your audience and be competitive. Especially if you are targeting demographics that will research your store before they visit for location, hours, etc. Customer loyalty can also be maintained by regular emails; website presence and customer service.

Goals for 2010 - Click To Read Article
With the end of the year past, it has come to the time when we begin to reevaluate our lives. This is a time of both retrospect and also a time of looking forward – we think back to our experiences in the past year and consider the changes we would like to implement for ourselves and our families.Many of the goals we set are almost universal in that they are common and can easily apply to many people in different walks of life. A list of the top 10 goals is detailed below.

The Ethical Road to Success - Click To Read Article
Do you remember the old Sunday school discussions on being fair and having ethics? Today, ethics may seem to have gone by the way side but most businesses do have a code of ethics written right into their mission statements, as well as into their corporate literature. Public confidence is achieved through codes of ethics when they are shared in company literature such as brochures or sales and promotional materials.

When Setting Policy and Procedure, Proceed with Caution - Click To Read Article
Many organizations adopt a policy and procedure only after years of operation. Sometimes viewed as broad guides to action, policies are never formally adopted, merely understood. Procedures on the other hand, are quicker to be adopted in order to make the process of action quicker. Everything from dealing with employees, customers to the process of manufacturing should be examined. Essentially these are a large part of the goals of the organization and the strategic plan for obtaining and using resources to achieve goals more effectively.





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