Skip to content

Author: Brooklyn Bell

Business Mathematics

Business mathematics entail the interpretation and assessing of tables, graphs and charts, calculation of markups and discounts and solving problems related to percentage, proportion and ratio; ascertaining costs of unit, scaled costs for receipts, full costs; budgets; financing; costs evaluated against cash; credit; comprehending income, payroll taxes and deductions; investigation federal income tax annual reports; comparing different financial investment systems; knowing sales including taxes, utility, property and other additional taxes; assessments of insurance programs; knowledge of costs of manufacturing, and evaluation of the performance of a business.

Business Mathematics

Image Source

Must one be good in mathematics in order to pursue entrepreneurship? In a world where computers and software complete knowledge gaps in mathematics and pen-and-paper calculations, it barely seems necessary.

When are mathematics skills necessary?

Learning the general scheme is vital than knowing the basic calculations involved. The main aim is for one to possess a strong comprehension of mathematics concepts. Computers perform most of what is considered the real mathematics today for you.

The entrepreneur’s job is to only enter in the right numbers and the software will provide the correct answers. It is mainly helpful when doing projections for sales, costs, and cash availability in a fast and accurate way. It is also useful in the production of financial projections and will come complete with charts and reports. No computations or generation of formulas or constructions of reports or graphs are done by the individual.

Important financial statements are designed through simple data entry; at the simple touch of a button, you will obtain income statements, balance sheets; revenue projections and yearly budgets; and an investigation of important performance metrics.

It looks like it is simple although, you must have the ability to comprehend the results. Precision is vital when entering numbers into a software application. Instead of simply placing trust on the software, it is important that you have your personal understanding of the mathematics because it will benefit you.

Do entrepreneurs perform well at math?

The work of an entrepreneurial can be well performed by those who have average -level mathematics ability. However, most successful entrepreneurs are excellent at mathematics by default because a good comprehension of the subject in the business world is vital.

How does the knowledge of mathematics help entrepreneurs?

Being an entrepreneur is exhausting, but a good understanding of mathematics may assist you to avoid some of the mistakes you will meet when managing one’s own business. The ability to find a solution for two plus two is just not enough. Successful entrepreneurs use mathematical calculations to know probability, target potential consumers, estimate and pay taxes and compound investment success.

What other methods can help an entrepreneur perfect his mathematics abilities?

The ability to focus is the key to doing well in math. Since time is an important resource for entrepreneurs, it is vital that they must do well in mathematics in a fast and way. Regardless of how important it is, an entrepreneur has no extra time to go back to high … READ MORE ...

$20 Down Car Insurance Benefits

$20 Down Car Insurance Benefits

In general, there is a plethora of insurance services that offer you a $20 down payment car insurance. A major advantage that you get when discovering great opportunities through browsing the web is that you would be able to get a customized insurance policy. The greater part of these arrangements can be found on the web, yet operators can likewise enable you to get this low cash down the scope. This includes the approach write, scope, and deductible sums, notwithstanding payment designs.

Arrangement required

A noteworthy preferred standpoint of looking at sites online is that you can construct the kind of arrangement you require, which incorporates the sort of scope, points of confinement and payment alternatives. There are a few organizations which give $20 down payment car insurance approaches and the best place to discover them is the web. Since you know how to get no down payment auto insurance on the web, you have to pick the kind of arrangement that best fits your requirements.

Important factors:

Be that as it may, to find them effortlessly, you may need to exploit authority administrations given by a reputable national car insurance specialist organization on the web. This kind of arrangement will give repayment on any harm to your vehicle, up and to as far as possible, in case the driver who is guaranteed is to be blamed in the event. Such a privilege may allow you to save valuable time, as well as, valuable money.

In events like this, which have practical experience in shabby direct rates, you can even fit the bill for no cash down strategy, which is great for those who are briefly in a destitute circumstance. You can apply and get free non-restricting $20 down payment car insurance cites from first-class vehicle guarantors from the comfort of your home. These low-down approaches accompany regular higher premiums. So, you can, over the long haul, wind up paying more than the actual arrangement.

Effective features:

A lot of choices can be investigated amid your search for a minimal effort quote that fits your particular driving needs and requirements. This can be a reasonable arrangement, however, suppose you are briefly low on reserves since you’ve quite recently purchased a car and need to get secured as inexpensively as possible under the circumstances. A large portion of the insurance suppliers may likewise offer great month to month premium payment designs which are simpler to oversee and manage.

These types of scopes that will pay for individual property damages in an event you were ruled as responsible. You can choose the right premium payment alternative for your circumstance. Most organizations do this since they need your long-haul business. Online shopping is the way to find out the best cash down auto insurance no money up front quote on the web. They may suffer a shot in the present by offering these low upfront payment alternatives.

Various services:

Things can be easier in case you get help by a reputable and experienced … READ MORE ...

Financial Pitfalls That Small Businesses Fall Into

Running a business is tough, and this is especially true for start-ups which may not have started making a profit. Many run into financial challenges due to poor financial management including securing capital, having to borrow money, inability to separate personal from business finances and managing the use of money amongst other issues.

The result is that many businesses close shop after a very short time.   This is why business owners should take financial management classes to make sure that they can understand the financial aspects of the business. Engaging the services of the best tax accounting firm Toronto can also help manage your tax issues to avoid falling into trouble with the tax man.

Financial Pitfalls That Small Businesses Fall Into

So what do you need to consider when dealing with business finances.

Cash reserves

Starting a business requires capital and equity. However, in the initial stages of the business, you will find that more money goes out than in.  The business owner must reserve some cash to help tide him over during this period.

 Lack of forecast.

It is important that the business owner has a forecast of the money he will require to run the business in the initial stages, including rent servicing of debts, wages etc.   Without this, there will be haphazard spending that can seriously damage the financial capacity of the business. A proper business plan should highlight the expected expenses and how the business owner plans to take care of them.

 Unnecessary borrowing

The business owner must practice extreme discipline when it comes to borrowing money, so as to avoid overextending himself with debt which the start-up business may not be able to pay back.  Using a credit card to purchase equipment can be easy but remember that this is a debt you are incurring every time you run the card.  Ensure that you can pay back whatever you borrow within the loan period.  Not paying your debts will make your business credit ratings poor and will affect your future ability to get financing from lenders.

Uncontrolled spending.

It is important to know when to purchase things and only purchase what is absolutely necessary.   For example, going for high-end decor items or furniture for a new office does not make sense for a start-up.  You will be better off starting off small with an aim of growing bigger in the future.

Mixing business and personal finances.

 it is important that you keep the two separate, it may be tempting to dip into the business finances for personal uses with the promise to reimburse at a later date, which rarely happens. Have separate accounts for the business and personal finances.

Going it alone.

You cannot be a jack-of-all-trades. If financial management is not your area of expertise then it makes no sense for you to try and balance your books on your own. Get professional advice from financial experts, tax experts amongst others.

You have taken a step in the right direction by starting your own business. It would be a … READ MORE ...

Initiate Savings with Recurring Deposits

Recurring deposits are a good starting point for those who wish to create regular savings and also earn good interest on the same. This article looks at the benefits of RD accounts for your financial health.

As a new investor, you are justifiably cautious about spending money on risky investments that might tank. You are always on the lookout for fail-safe options in stocks and bonds, but most market-linked opportunities always come with an underlying element of risk.

It is time to turn to a simple, affordable and quite safe option: the recurring deposit.

Initiate Savings with Recurring Deposits

What is a recurring deposit?

A recurring deposit or RD account is a simpler version of the fixed deposit. In a fixed deposit, you set aside a lump sum amount of money in the account, and it is paid a particular rate of interest throughout the deposit cycle. At the end of the deposit tenure, the money is returned to you with the interest earnings on it.

However, in a recurring deposit, you deposit equated monthly sums towards a larger whole. You can open an RD account if you have a savings account with your bank and a proven source of monthly income (since the deposit is auto-debited from your account every month). It is a more affordable form of investment than the fixed deposit, since you can pay as little as Rs 2,000 per month towards the account.

Leading banks in India offer competitive recurring deposit interest rates. You can check the recurring deposit interest rates being offered for certain tenures, and the minimum deposit amount to be paid monthly, on your bank’s smartphone app or website.

How does it help your finances?

* It encourages you to save. Though each of us would like to save a part of our income every month, it can become difficult to do so when there are several expenses competing for a share of your salary. However, since the RD money is auto-debited from your account every month, no further intervention is needed on your part. Thus, money is automatically saved easily.

* It is affordable and safe. The recurring depositis more affordable than most conventional investment options, with a good payoff. The recurring deposit interest rate remains constant throughout the deposit tenure, irrespective of market rate changes. So, you can calculate the RD appreciation even before you make the investment, by using an online RD calculator. * It is highly liquid.There may come a time when you need money for an emergency. The RD account can be liquidated easily during a financial crisis, and the money is deposited in your account the same day when the bank receives your termination request. However, you are not paid any interest on premature termination of the recurring deposit account. … READ MORE ...

Importance of Email Marketing to Small Businesses

If you have not integrated email marketing into your digital marketing strategy, then you are missing out on highly qualified leads and new customers.

Importance of Email Marketing to Small Businesses

Everyone has and uses email. The use of email as a means of communication is not age-restrictive, and the best bit is that it works for millennials too. There is also the fact that the average person has a limited attention span of about 8 seconds when it comes to processing information. Email captures attention in less than those 8 seconds, so, it is the marketing strategy you should leverage.

The other benefits include:

The promise of high returns

As long as your products or services offer the value that your audience is looking for, the use of email to share details of your new products, a sale, newsletter, or a blog update goes a long way in capturing attention of interested customers who will, most likely share the email or buy from you.

Reports reveal that one email has the potential of generating $38 – this translates to 3800 percent return on investment. There is also the fact that 20 percent of the leads that are sent directly to your sales database are qualified leads from email marketing. Therefore, not using email marketing to communicate with your audience, especially as big PST tax lawyer is a big mistake. With great content, email is a great way of nurturing and qualifying leads.

At the same time, the use of email is cheap in the content creation process, as well as the creation of LeadPages, lead magnets, and opt-in pages. This marketing strategy also faces fewer government restrictions and compliance procedures.

Email marketing is superior to social media marketing

Your marketing consultants have probably informed you of the important need for you to take your business into the social scene. Perhaps you already did and even got clients from the platforms. But, what if we told you that you could attract many more clients if you took the email marketing path too? Email marketing has been shown to be 40X more effective than Twitter and Facebook combined.

You Are More Likely to Reach the Right Audience

Marketing to the right audience within a niche is the most important part of marketing for small and big businesses. As a small business owner, you have a higher chance of reaching the right people with emails given the fact that people spend about 30 percent of their time at work and 50 percent at home, checking their emails. Also, people check their smartphones 80 times a day. With the right email marketing software, you will easily reach the right people. And since emails are highly personalized, they have a high open rate.

Reports by Marketing Sherpa indicate that 91 percent of adults in the US like promotional emails from the companies they interact with.

Easy to Track Metrics

The success of any marketing strategy relies on how well you track and adjust to your metrics. The email marketing KPIs … READ MORE ...