How to Have Belief in Business

There are three facets to belief. If you are a Christian business owner, you must take these three things seriously in order to truly be successful in business and in life. These are foundational to who we are as Christians and as entrepreneurs.

Belief comes from an old German word that means “to hold dear, esteem and trust.” There is a lot of power in belief if we understand the belief pyramid. The three kinds of belief for Christian business owners are: belief in God, believe in self and belief in business.

Belief in God

I was talking to a multi-millionaire this weekend. We started talking about faith and he shared a great concept with me. He said, “I don’t know how people do it without faith. They have nothing above them to keep them from being dishonest.” He went on to explain that when people don’t have some sort of faith, they can do whatever they want. In business, that could mean taking advantage of others and running a business with little or no ethics. (It happens!)

Starting with a foundation that there is a God and He is bigger than us helps us get perspective about our place in the universe. We are part of something God is doing here on earth, and because of that, we want to help people and honor God with all of our decisions.

Belief in self

After we have a strong foundation in God, we must have a strong belief in ourselves. This one may be harder for some of us depending on what kind of family we come from. See, if we have been told we are worthless or that we will never amount to anything, those seeds of doubt can still grow even when our business is successful.

We must look at the belief in God first and build who we are based on what He says about our lives. Think about it for a moment. You may have had someone in your life tell you that you are not good enough, but our value does not come from people. Our value comes from God.

God calls us His children. He sent Jesus to earth for us. He loves us even when we were stuck in stupidity and sin. That means the God of the universe, who created us and everything in it, says we are good enough. We should revel in the fact that we are more than good enough for this world.

Belief in business

I know a lot of articles that would start with the belief in business, but I have found that other two must be foundational to what we do as Christian entrepreneurs. We must have a strong belief in God, which tells us who we are in this world, which informs what we do for our business.

In business, we are here to help others. We find a product or service that can benefit another person and offer it to them at a valuable price. Business is that simple. Yet, at the core of what we do in business, we must think about how God wants to impact the world and how our lives touches others.

Putting our beliefs together

I have talked to many people who want to start a certain business ‘because it will make good money.’ They jump on the bandwagon only to find it is a lot harder than they think and since they are focused on the money, they are never fulfilled in their business. They jump from business to business never really finding their place in the world.

I don’t want that to happen to you. I want you to have a strong core belief that God wants you to be in business. I want you to see that God created you with a strong purpose in this world to touch lives. And, God, the creator of everything, gave you the blessings and opportunities to be in business for Him.

Taking action

Do a quick evaluation for your life.

Start with God. What is your core belief in God? Is it based on a strong knowledge of scripture? If so, keep it up. If not, jump into some biblical studies and dig into God’s word.

Check on self. What is your purpose? Do you really believe that God put you on earth for a purpose? He did! If you are having trouble with your identity find a good friend, pastor or counselor. Really dig into who you are and find the truth of who God created you to be.

Evaluate your business. Why did God put you in your business? How does God want you to impact the world and share His love through your business? If you are not sure, dig into scriptures, join a Christian entrepreneur group, or just talk to a solid Christian mentor in your life.

Conclusion

I could write thousands of words, but none of it means anything if we don’t take action on our beliefs. We must take action on our belief in God, self and business if we truly want to be successful. God has placed His hand on your life, I know because you are reading these words and I am praying for you. You are called to be in business and you did not find this article by accident.

I’m Lyle H. and I want to invite you to dig a little deeper with your faith and how it fits into business. If you need a confidence boost, check out: http://www.christianbusinessrevolution.com/faith-fit-business/

I also shared about how business is your mission, just look at what this famous missionary did with business in the Bible: http://www.christianbusinessrevolution.com/god-want-us-business/

Go and be blessed and be a blessing!

 

Your Revenue And Expenses

Revenue

Revenue is the price of goods sold and services rendered during a giver accounting period. Earning revenue causes owner’s equity to increase. When a business renders services or sells merchandise to its customers, it usually receives cash or acquires ar account receivable from the customer. The inflow of cash or receivable from customers increases the total assets of the company. On the other side of the accounting equation, the liabilities do not change, but owner’s equity increases to match the increase in total assets. Thus revenue is the gross increases in owner’s equity resulting from operation of the business.

Various terms are used to describe different types of revenue; for example, the revenue earned by a real estate might be called Sales Commissions Earned, or alternatively, Commissions Revenue. In the professional practice of lawyers, physicians, dentists, and CPAs, the revenue is called Fees Earned. A business which sells merchandise rather than services (General Motors, for example) will use the term Sales to describe the revenue earned. Another type of revenue is Interest Earned, which means the amount received as interest on notes receivable, bank deposits, government bonds, or other securities.
246

When to Record Revenue: The Realization Principle When is revenue recorded in the accounting records? For example, assume that on May 24, a real estate company signs a contract to represent a client in selling the client’s personal residence. The contract entitles the real estate company to a commission equal to 5% of the selling price, due 30 days after the date of sale. On June 10, the real estate company sells the house at a price of $120, 000, thereby earning a $6, 000 commission ($120, 000 x 5% ), to be received on July 10. When should the company record this $6, 000 commission revenue¬† in May, June, or July?

The company should record this revenue on June 10¬† the day it rendered the service of selling the client’s house. As the company will not collect this commission until July, it must also record an account receivable on June 10. In July, when this receivable is collected, the company must not record revenue a second time. Collecting an account receivable increases one asset, Cash, and decreases another assets, Accounts Receivable. Thus, collecting an account receivable does not increase owner’s equity and does not represent revenue.

Our answer illustrates a generally accepted accounting principle called the realization principle. The realization principle states that a business should record revenue at the time services are rendered to customers or goods sold are delivered to customers. In short, revenue is recorded when it is earned, without regard as to when the cash is received.

Expenses

Expenses are costs of the goods and services used up in the process of earning revenue. Examples include the cost of employee’s salaries, advertising, rent, utilities, and the gradual wearing-out (depreciation) of such assets as buildings, automobiles, and office equipment. All these costs are necessary to attract and serve customers and thereby earn revenue. Expenses are called the “costs of doing business”, that is, the cost of the various activities necessary to carry on a business.

An expense always causes a decrease in owner’s equity. The related changes in the accounting equation can either (1) a decrease in assets or (2) increase in liabilities. An expense reduces assets if payment occurs at the time that the expense is incurred (or if payment has been made in advance). If the expense will not be paid until later, as, for example, the purchase of advertising services on account, the recording of the expense will be accompanied by an increase in liabilities.

When to Record Expenses: The Matching Principle. A significant relationship exists between revenue and expenses. Expenses are incurred for the purpose of producing revenue. In measuring net income for a period, revenue should be offset by all the expenses incurred in producing that revenue. This concept of offsetting expenses against revenue on a basis of “cause and effect” is called the matching principle.

Timing is an important factor in matching (offsetting) revenue with the related expenses. For example, in preparing monthly income statements, it is important to offset this month’s expenses against this month’s revenue. We should not offset this month’s expenses against last month’s revenue, because there is no cause and effect relationship between the two.

How To Start A Home Business

Taking the leap of faith and starting a home based business can be an exciting and daunting experience at the same time. While there are numerous reasons why people are drawn to the concept of a home based business the challenge is getting it off the ground. Unlike several decades ago, having a respectable home business was unheard off.

In fact if you didn’t have a shop front or office then you were considered to have a questionable business operation that lacked credibility. Times have certainly changed and so have our lifestyles. These days with the modern advances in technology you can comfortably setup a home business and compete successfully with much more established and larger businesses without any noticeable decrease in credibility.

In fact many of the multinational technology companies we know today as household names started out in dorm rooms, in the garage or a spare bedroom. Below are a few handy steps to help you get your home business off the ground.

1. Decide on your business structure. While you may be working from home you will still need to register the business and deciding on the business structure can be a critical decision. You hardly want to settle on a structure just because it is the easiest to setup or most cost effective only to have to restructure the whole business when it gets larger. If you don’t want to invest in an accountant to help you with this step there are some useful resources available at any local library about the different business structures and the benefits each structure can provide.

2. Decide on a name and register it. You will need to register your business name with the appropriate business authority in your area so that you can commence business operations. Rules and regulations differ from state to state and from country to country so consult your local government business department and they will be able to assist you on the forms you will need to fill out.

3. Decide on where your business is going to operate from. If you are lucky enough to have a spare room then you are pretty much set with getting your business going. You can probably get by with a table, chair, a filing cabinet, phone and computer in the early days. If you need other things relevant to your business you can get them later on when you are starting to create some turnover. Don’t worry about not have the perfect business setup from day one as your success won’t be determined by how beautiful your office looks. If you don’t have the luxury of a spare room then you might need to make do with a temporary office table that you need to setup and pack away at the end of each day.

4. Invest in business stationary. Probably the most important aspect of getting a business off the ground is making sure people know about it. Tell your friends and family that your open for business. A useful and cost effective way to promote your business is to get business cards designed and printed. While your at it you might as well print letterheads as well. With the abundance of cheap online printing companies out there this can be quite inexpensive and certainly well worth the small investment. Either use the available templates provided by your printer or engage the services of a cheap graphic designer from your local university to get them designed for you.

5. Start marketing. Its all well and good to have your business open but in order for it to stay open you need to have customers. Unlike having a shop front or office people aren’t going to just stumble across your business and wonder in your doors. You are going to need to do some leg work. Whether it be a telemarketing campaign or a direct mail campaign you are going to be the one that needs to do that if you want your business to grow. There are many wonderful small business associations that you can join that can give you useful advice and resources on how best to maximize your small marketing budget most effectively.

Starting a small business can be such a rewarding experience and once of the ground the fun is just beginning.

The Importance of Color of Your Signs

The signs you utilize say a ton in regards to your organization, your items and the message you need to pass on to your clients and customers. They tell your clients and customers who you are, it conveys what you do, it makes your image personality and energizes steadfastness.

Contingent upon your signage, these messages can be passed on through content or visuals. Be that as it may, the hues you use in your signs and visual representation are additionally successful at inciting a reaction from your clients.

Here are a few case of how hues can send an exceptionally significant message to your clients and what every shading passes on.

Yellow

The shading yellow puts your customers in a decent state of mind, it drives constructive vitality and for the most part leaves individuals feeling glad, alive and new, particularly in the event that it’s utilized as a standalone shading.

Red

Red is normally connected to sentiment and energy. It is the notorious shading that makes you consider hearts, roses and all things sentimental. Be that as it may, red can entirely make individuals feel more extreme, it makes them feel more enthusiastic, which can be an or more for certain brands.

Green

The shading green is synonymous with the master environment development for a cleaner lifestyle. Green is additionally connected to general sentiments of freshness. This might be a decent decision for an organization that is either simply beginning or rebranding. It additionally implies wellbeing, making it prevalent for signs identifying with nourishment and sustenance.

Blue

Inside architects prescribe you paint your work space blue. Research demonstrates this is a smart thought since blue makes individuals feel more quiet, casual and trusting. This is the reason a few social insurance suppliers use blue in their signage.

Purple

Purple makes individuals subliminally consider extravagance, sentimentality and force making it the ideal choice when hoping to pass on renown. It will separate your image from the rest as a higher-end alternative.

Orange

Like yellow, orange has huge numbers of the same positive qualities. Orange by and large makes individuals feel euphoric and idealistic about their surroundings and will do likewise for your image. It is additionally demonstrated to invigorate innovative action and lure individuals to feel more energetic and decided.

Each of these hues will allure an interesting reaction in your clients and customers. So how would you pick the right hues for your sign? The answer relies on upon your image, items, market and, most importantly, what you need to impart. Consider these alternatives deliberately, in light of the fact that occasionally the hues in signs and visual representation can talk louder than words.

An Effective B2b For Marketing Strategy

Running a successful business is not so easy. It is about selling as much as possible and communicating with many referrals. When it comes to marketing every business has different requirements, while the former trends to be driven by emotions, the latter relies heavily on information, intellect and increasingly a sound basis for cost justification. Unique marketing methods are necessity for all types of business and these days, many companies increasingly becoming help from professionals for these marketing strategies.

B2B marketing or Business to Business marketing is becoming very popular in todays business environment. Before discussing how to create effective B2B marketing strategies, lets have a look on what actually B2B

Starting A Business In Visakhapatnam, Setting Up A Business In Visakhapatnam

Entrepreneur, founder of Vizagrecruits better known as VR” in the corporate circle. This small business consulting company in Visakhapatnam has been backed with a team having skills & expertise in various functional areas like HR, Sales, Marketing, etc & having working with several Industry verticals like FMCG, Education, IT, Telecom, etc.

I myself have been associated with a Sales Background, working out with several Multinational companies before starting of a number of small businesses myself & becoming a successful entrepreneur. Now we have started providing consultation to several start-up entrepreneurs like you who wish Setting up Business in Visakhapatnam.

If you are a first time visitor to this blog and interested in setting up a Business in Visakhapatnam, then there is plenty of “FREE” information here that will help you. If you are planning to become an Entrepreneur, then Vizagrecruits is here to help. The benefits you will receive are well worth your investment on us.

We have been offering online and on-site business consulting to interested clients. We are covering every step for successful setting up a business in Visakhapatnam or Setting up a business anywhere. We also help start-up companies in Visakhapatnam Setting up a marketing department or setting up a HR department, Promoting your Business online. VR gives you what you need.

Having your own business of course gives you the power to working on your own timings, get free from bosses or other constraints that are faced being an employee. That is the why we all love being an Entrepreneur.

In the road for starting and setting up a business in Visakhapatnam, there will be a need of a Guide such as a Business Consultant who can act like a Mentor or friend to support you in reaching your destination. VR can be your trusted Mentor & provide solutions to all your business problems ensuring that your business keeps growing. So, thanks for visiting us and have a great Entrepreneurial journey.

 

Top Tips for Proofreading a Business Report

Your company might, depending on the sector, compile a vast number of business reports in a year. These could take the form of an annual report, consultation paper or some research findings, for example. Proofreading of any type of report for business is really important, whether it is technical, financial or sales-related. If your report is being reviewed externally, you will especially want to pay attention when it comes to accuracy of grammar, the words used, spelling and sentence structure. The report should appear professional to anyone that reads it.

It is not always easy to find someone in the establishment who can proofread to a high level. If you feel there is someone internal who is up to the job, that is obviously a bonus. You may also want to consider a professional proofreader or proofreading service that can carry out work for you. This would help you to concentrate on the content and getting the bulk of the report together. However, if you require some guidance on making your business report error-free, the following tips may help.

Proofread the report a few hours after completion – you are more likely to spot errors with fresh eyes
Ensure any data is correct by double-checking the facts and figures – a mistake here could cost your company its reputation
Check one type of error at a time. Focus on spelling, grammar and sentence structure separately as you are more likely to pick up errors this way
Business reports are often long so cut back on excessive information and complicated jargon
Use the spell-checking function where possible to identify any critical spelling errors
Print the report out and read through a hard copy. Scribble changes and suggestions down
Read through the text out loud as you may hear a mistake you have missed
Pass it to someone else to review. They may spot something you have overlooked.

Whilst it is good practice to follow these tips, remember that a business report is not just like any other document. When it comes to an annual report, for instance, such a report can serve to promote and endorse your company. Therefore, it needs to be professional and transparent as well as being a structured and easy-flowing document that is simple to comprehend. You will, of course, also want to stick to any corporate guidelines so that the reader can easily understand and interpret your company’s report.

When it comes to a business report, you may have many experts in their fields who produce exceptional information. However, when it comes to accuracy of the data, they will need to get this correct from the outset since a proofreader is unlikely to know if a figure in a balance sheet is wrongly stated. The proofreader will still need to do the essential checks at the end though, namely using meticulous attention to detail to ensure the entire business report is free from errors and ready to be praised by its audience.

Reasons Why a Business Plan Fails

For any types of business, planning is really necessary. This is why when you are going to start a new business; you need to have a solid and reliable business plan. This is something that every business should not exist without because this is critical in making a business successful. It should contain all the necessary information like funding, market information and many more. However, a business plan may also fail. This happens when the plan is not well thought of or if it does not fit well to the nature of your business. But aside from this, there are some other reasons why a business plan fails.

Overestimating is the first reason why your business plan may fail. In the process of creating a plan, you are required to some estimation but this does not mean that you have to overestimate. You have to be realistic because estimating too high is dangerous for your business. Never overestimate on how far your funds will go or how fast you will be able to gain a huge amount of profit. In relation to overestimating, you should not overspend as well. Do not force your business to grow very fast in a short period of time because this is a big mistake. Do not rush everything when running your business.

On the other hand, the location of your business may also cause your business plan and your business to fail. Other people may not realize this but the location is very important for a business to experience growth and development. Your potential customers will not know that your business exists if it is located in an isolated or remote area. Thus, a good and accessible location should be stated on your plan. Then you have to carefully consider the actual location to prevent this from becoming the main reason of your failure.

Insufficient funds and insufficient knowledge about the market can also result to failure. Evidently, if you do not have enough money to run your business, your plan will most likely fail. If you want your business to operate properly and gain profit, you should make sure that you have the right amount of capital. Moreover, insufficient knowledge or information about the market can also cause failure because your business plan will not fit to what your business really needs, you will not know the real market condition and the competition. This means that there is big possibility that your business will not be able to keep up with the tight competition.

So if you do not want your business to become a failure and put everything that you have worked on to waste, you should be very careful on what are the things that your business plan should contain. Spend some time to research on the important information about your business, the market and your competitors. And make sure that everything that is written on your plan is appropriate for your business.

Mabel Miles likes to share information on strategic plan template and bakery business plan as well as a host of additional services.