onemeandream

[onemeandream]

Beware political hype and other life sucking events.

Nothing can suck the life out of a conversation faster than religion and politics. Its no stretch to think that these two have been the bane of many a family argument. People throughout the ages been lead astray thinking their current political or religious climate was somehow unique in world history. That if we didn’t vote for or support a specific leader or group the other side would destroy…

[onemeandream]

The Stoplight Approach to Small Business Operations Management

Small business owners wear many hats. The most important that of manager. But with so many things to manage, where do we begin? Many business owners initial attempts at managing the operational side is done by trial and error. Then the internet came along and made everything available at our fingertips.  Operational management material like Six Sigma, The Goal: A Process of Ongoing Improvement or…

[onemeandream]

Data Management: More Than One’s and Zero’s

Business is often only as good at its management. Whether its people, finances, time, or resources. Pretty much everything in business can be driven by data in one form or another. This is why we have data management. Webster’s Dictionary defines data in 3 ways Factual information (such as measurements or statistics) used as a basis for reasoning, discussion, or calculation. Information in…

[onemeandream]

Quantify How You Make Money - Starting Your Business Part 5

Deciding how you will make money is important for any business. Finding out what make money takes time. Here's some good ideas to help you start your business.

As a business owner you must quantify how you make money. 1. To make money we must define our profit points. The Business Dictionary defines profit point as –  A Point in time (or in the number of units sold) when forecast revenue exactly equals the estimated total costs; where loss ends and profit begins to accumulate. This is the point at which a business, product, or project becomes…

[onemeandream]

4 Steps For Human Resource Planning

Hiring employees should always include a Human Resource Plan. Not just to make things easier, but because the law basically requires it! Here is a general overview of whats required.

Every business owner should be informed regarding the rules and regulations that govern their industry. This gives us peace of mind, and may limit being hit by – fines, penalties and the ever-present threat of litigation. To simplify matters, here are our 4 Steps For Better Human Resource Planning. Step 1: Know the Laws Governing Your Industry There are many redundant and even contradictory…

[onemeandream]

Marketing Versus Sales: Not The Same Thing

When looking at the difference between marketing versus sales, the error lies in approaching them the same way. Understanding the differences and learning how to use both separately and uniquely can help any company excel and expand.

When looking at the difference between marketing versus sales, the error lies in approaching them the same way. To make things easier, smaller companies tend to combine the two in one division. Larger companies into two different divisions. Generally, sales and marketing work together to obtain the same result – to promote revenue and business expansion. Specifically, they serve two distinct…

[onemeandream]

Evolve or Die: When to Make Changes in Small Business?

In the ever-changing world, it’s hard to know when to make changes in small business. Today we provide 4 simple ways to know when it’s time.

Every industry undergoes change. Today, these changes happen rapidly due to the widespread adoption of technology, innovation and evolving communication formats. So, when is it time to make changes in small business? Before we answer this, let’s look at one example from the evolution of the real estate industry. In 1998, I added home inspections to my building repair and remodeling company. The…

[onemeandream]

Small Business Payroll Tax

Small business payroll tax runs about 1.25 to 1.4 times base pay. This adds a large figure to an employees overhead costs. Lets take a basic overview on whats required and how it effects your small business.

Small business payroll tax is just one part of the overhead cost of having employees. Overhead is a generic term referring to costs above normal operational costs. For employees, this means the costs above their base pay. This runs about 1.25 to 1.4 times their base pay (per year).  When an employee is promised $50,000 per year, you’re real cost is $62,000 – $70,000 per year. This does not…

[onemeandream]

12 Business Insurance Options

Buying the right insurance is necessary in this litigious society we live. Here are 12 options for pretty much any business owner.

If one wanted, there’s insurance for pretty much anything. Many self-employed individuals have no type of insurance at all. Business insurance should be purchased as business grows. These protect not only ourselves but our company, employees, customers, shareholders, and even the public. The most common and useful are general and/or professional liability insurance. However, insurance is designed…

[onemeandream]

Understanding Financial Statements - income, balance, cash flow

Understanding financial statements is difficult for pretty much everybody. Especially for large corporations. However, every business owner should at least understand the basics...

Understanding financial statements including income, balance and cash flow on the corporate level takes both time and training. Knowing how to read these are vital for an investor looking at putting money into a company. However, as a small business owner, its important to have a general concept of all three. These are all covered under general accounting methods which are also important to…

[onemeandream]

Accounting Methods For Small Business: Cash vs. Accrual

When you start a business, you must decide on your accounting system. Basically there's cash or accrual. If you don't know the difference, read on.

Choosing accounting methods depends on a few things. The first system is the Cash Accounting Method which recognizes revenue and expenses only when money changes hands. Basically, there are no accounts receivables or accounts payable (more on this later). While the Accrual Counting Method recognizes revenue when it’s earned. Whether you get paid or not. And expenses are recognized when they’re…

[onemeandream]

Master the Ability of Deep Work

Deep work is the ability to focus without distraction on a cognitively demanding task. If you feel you need help in this area, here's some useful information.

Deep Work was popularized by The author Cal Newport in – Deep Work: Rules for Focused Success in a Distracted World. “Deep work is the ability to focus without distraction on a cognitively demanding task. It’s a skill that allows you to quickly master complicated information and produce better results in less time. Deep work will make you better at what you do and provide the sense of true…

[onemeandream]

Make a Simple Performance Management Roadmap:

This article is a simplified way to help new business owners make a performance management roadmap for themselves. Again this is a very simplified version but a good start.

A simple performance management roadmap basically starts from knowing where we are today, and ending where we want to be some point in the future. It revolves around managing our assets and liabilities to best improve our financial and overall operational performance. This can be used for individuals or businesses Do we run our company, or does our company run us? I found this a good question to…

[onemeandream]

Increasing Your Profitability 3: Eliminate Profit Drag

Profit Drag is a term I made up. Hope it becomes part of the business terminology. In How Eliminate Profit Drag, I look at 12 ways to help determine what needs to be cut while still retaining profit without losing a dominant market position.

Profit drag is a term I made up and not a terminology you’ll find in business journals. At least not yet. Profit drag happens when weak areas of our business continue on and on. Never showing signs of profitability. Yet somehow these areas show enough life that we allow them to drag on and on. Some believe we need to shore up these weak parts of our business. Because, one day they’ll become a…

[onemeandream]

Increasing Profitability 1: Define Your Profit Points

To increase profitability, you have to know exactly what it costs to provide your product or service. In this article we cover profit points, useful terminology, determining costs. pricing power etc.

Turning a profit, positive cash flow, financial gain and in the black are all terms for making money. And the best motivator for keeping your business open. However, wading through data to determine profitability can be tricky, but increasing profitability means you must define your profit points. The Business Dictionary defines profit point as-  A Point in time (or in the number of units sold)…

[onemeandream]

How to manage operations - 3 ways

How to manage operations requires remember your 3 P’s: Process, People, Product. This 5 minute read lists simple steps to help improve operations and increase your profits.

Without a strong operation, you won’t have a strong business. How to manage operations is all about efficiently managing what you do and how you do it. It starts in the office, runs through the production floor and continues as your product is delivered to customers. One easy way to manage your operations is to remember your 3 P’s: Process, People, Product 1. How to manage operations – Start…

[onemeandream]

Small Business Promotion Ideas: 15 Ways to Market Your Business

Sales, Marketing, Advertising... All words we use for promoting something we feel is important. Every company offers something. So, here's 15 ways to promote any business.

When it comes to small business promotion ideas, there’s many ways to market a product or service. Common ways include – advertising, personal selling, sales promotions, public relations, direct marketing, and mass marketing. My first promotion idea for my building repair company involved personal selling. It started with going to every property management group in Hawaii (called the Big Island)…