Recent Articles From EvanCarmichael.com http://www.evancarmichael.com/ http://www.evancarmichael.com/Small-Business-Consulting/3783/Can-You-Walk-the-Walk-if-You-Cant-Talk-the-Talk-Improve-Your-Financial-Vocabulary.html http://www.evancarmichael.com/Small-Business-Consulting/3783/Can-You-Walk-the-Walk-if-You-Cant-Talk-the-Talk-Improve-Your-Financial-Vocabulary.html Accounting is the language of business. Getting more information from your accountant than just pages of numbers in the form of monthly reports requires that you know the language. For many owners, that means acquiring a new vocabulary complete with terms like “gross margin,” “key performance ratio,” and “break-even analysis.” Unfortunately, many business owners are intimidated by the language or choose to ignore it altogether. They ignore the financial performance of their company, delegate it to an employee, or outsource it. Understanding the fundamental financial concepts gives owners a much better chance of prospering in today’s challenging economic environment. http://www.evancarmichael.com/Small-Business-Consulting/3783/SIX-STEPS-TO-WINNING-IN-2010.html http://www.evancarmichael.com/Small-Business-Consulting/3783/SIX-STEPS-TO-WINNING-IN-2010.html “Wait and See” is not a plan. Successful people know that the real treasures lie where few are willing to go. A well developed plan takes advantage of what you do know, minimizes the risk from what you don’t, and leads you successfully into the future. As the fourth quarter begins, savvy managers accelerate the planning process. Here are six steps you should follow for a profitable plan. http://www.evancarmichael.com/Small-Business-Consulting/3783/The-Six-Systems-Every-Business-Needs-for-Maximum-Success.html http://www.evancarmichael.com/Small-Business-Consulting/3783/The-Six-Systems-Every-Business-Needs-for-Maximum-Success.html Running a business is a challenging endeavor. For most owner/operators the business of the business gets in the way of the running of the business. The successful owner learns early on that the secret to a successful business is in systems. By creating a system for handling each of the phases of running the business, employees can be trained and their effectiveness measured. Great systems free up the owner to spend time with her family and to focus on the future, which are the places an owner needs to be. http://www.evancarmichael.com/Small-Business-Consulting/3783/IS-YOUR-BUSINESS-PUTTING-YOUR-ASSETS-AT-RISK-BUSINESS-ORGANIZATIONS-THE-LIMITED-PARTNERSHIP.html http://www.evancarmichael.com/Small-Business-Consulting/3783/IS-YOUR-BUSINESS-PUTTING-YOUR-ASSETS-AT-RISK-BUSINESS-ORGANIZATIONS-THE-LIMITED-PARTNERSHIP.html Most states provide for a variety of business forms. The form you choose for your business will influence the time and money needed to form and maintenance your business. Most importantly, it controls the extent to which your personal assets are available to your creditors to satisfy business debts and obligations. This article is the third in the series that explores the differences between business forms. It is easy to read and understand. The information is a great starting point in your investigation and will prepare you for further discussions with your attorney, accountant, or advisor. http://www.evancarmichael.com/Small-Business-Consulting/3783/Cash-for-Clunkers--Stimulus-or-Boondoggle.html http://www.evancarmichael.com/Small-Business-Consulting/3783/Cash-for-Clunkers--Stimulus-or-Boondoggle.html Cash for Clunkers, the federal program that pays $4,500 toward the purchase of certain new cars, is tremendously popular. But as with all government handouts, for everyone who benefits, someone else pays a price. Only a reasoned examination of all of the costs together with the benefits can the balance between the two be evaluated. This article does just that. http://www.evancarmichael.com/Small-Business-Consulting/3783/REVIVE-AN-ECONOMY-THE-ANSWER-LIES-WITH-THE-PRIVATE-SECTOR.html http://www.evancarmichael.com/Small-Business-Consulting/3783/REVIVE-AN-ECONOMY-THE-ANSWER-LIES-WITH-THE-PRIVATE-SECTOR.html The best road to economic recovery strengthens and grows private business. The private sector, guided by the discipline of the market system, will always be the most efficient way to create the right number of productive jobs providing the products and services the economy demands. http://www.evancarmichael.com/Small-Business-Consulting/3783/IS-YOUR-BUSINESS-PUTTING-YOUR-ASSETS-AT-RISK-BUSINESS-ORGANIZATIONS-THE-GENERAL-PARTNERSHIP.html http://www.evancarmichael.com/Small-Business-Consulting/3783/IS-YOUR-BUSINESS-PUTTING-YOUR-ASSETS-AT-RISK-BUSINESS-ORGANIZATIONS-THE-GENERAL-PARTNERSHIP.html The general partnership has existed for centuries. Today, it is controlled by the laws of the state in which it operates. The general partnership is easy to create - sometimes too easy. Unwary business owners have become partners creating obligations to others without intending to do so just by conducting themselves as a partnership. This article explains what a general partnership is, how it is formed, and the rights and obligations of the partners. Protect your personal assets and make certain you understand how the general partnership works. http://www.evancarmichael.com/Small-Business-Consulting/3783/Financials-for-Business-Owners-More-Than-A-Look-In-The-Rear-View-Mirror.html http://www.evancarmichael.com/Small-Business-Consulting/3783/Financials-for-Business-Owners-More-Than-A-Look-In-The-Rear-View-Mirror.html Financial reports are the least understood piece of business information for most business owners. Yet everyone expects a business owner to understand his financial reports. Banks want them and they're needed to prepare tax returns. If you're not an accountant, you probably don't know how to use them to manage your business. Accounting is the language of business. The reports tell the story of how well your business is performing. Once you know what your financial reports can tell you, your accountant can provide the information in a format that makes sense and is quick and easy to read, even for a non-accountant! This is the first in a series of articles that will put business owners back in control of their company and reduce the stress that comes from not being certain how well your business is performing. http://www.evancarmichael.com/Small-Business-Consulting/3783/IS-YOUR-BUSINESS-PUTTING-YOUR-ASSETS-AT-RISK-BUSINESS-ORGANIZATIONS-THE-SOLE-PROPRIETORSHIP.html http://www.evancarmichael.com/Small-Business-Consulting/3783/IS-YOUR-BUSINESS-PUTTING-YOUR-ASSETS-AT-RISK-BUSINESS-ORGANIZATIONS-THE-SOLE-PROPRIETORSHIP.html One of the first decisions a startup business owner makes is which organization form to choose. This is an important decision as it affects personal liability, income tax, and administrative costs. In this article, we discuss the sole proprietorship, arguably the easiest and most common form of business organization. The sole proprietorship has distinct advantages and disadvantages that should be understood before adopting this business form. If you are risk averse and don't want to lose your retirement savings, your cars, or your personal home, you need to read on. http://www.evancarmichael.com/Small-Business-Consulting/3783/Think-and-Manage-Like-a-Winner-Defense-is-a-Losing-Strategy.html http://www.evancarmichael.com/Small-Business-Consulting/3783/Think-and-Manage-Like-a-Winner-Defense-is-a-Losing-Strategy.html Recessions over the past 64 years averaged 10 months from peak to trough. This one is 15 months old and there is no bottom in sight. Most employers are cutting "non-essential" expenses to preserve employee jobs. While compassionate, that is a death-knell for most businesses. So what's a business owner to do?