Do you know what you need to do each day to break even?

This morning I was reading an excerpt from "The Compound Effect" by Darrin Hardy and was reminded of the daily habits that we do regardless of whether positive or negative and just how those habits shape your way of life.  When I was reading and reflecting, I realized it was like a client I met earlier this week.  My client was busy building her business with inventory, daily purchasing and scouting for emerging and unique merchandise, and was compounding plenty of personal debt.

Operating a small business on debt can sometimes quickly and sometimes slowly run you right out of business.  I say why don't we stop and see the effect of what she was compounding through her daily shopping excursions.

It would seem like common sense to many, however to other's and in this case it was a incredible surprise.  This woman business owner retained me as a business consultant to get organized.  I've learned over the years that when clients need to get organized and I discover their cluttered office space, I know there's more going on than just getting organized.

As we went through a what I refer to as a needs assessment, I identified that the business was being sustained by her nest egg.  This woman had no notion just how much her endeavor was actually costing her,  although it kept her really busy.   Being busy  doesn't mean being in business.

The action I strongly recommended we undertake was to examine all of her expenses for the year and break them down by the day.  We then arrived with an amount  that was her daily goal.  This exercise isn't rocket science but I've learned it works.  I learned this approach during my retail experience.
Each and every single day you would "chad in" and learn from your manager what the daily target was, exactly where were we last year this time, and where are we for the month.  when you know these goals, you have a way of measuring and a  motivation for the day.


Before you keep squandering money into your business with marketing, new campaigns, even new workers, take the time to stop and take a look at the numbers, understand the bottom line and make strategies in line with the numbers rather than your ego.

Source:
http://www.strategizeandorganize.com  480-442-2014
http://www.facebook.com/strategizeandorganize
http://www.linkedin.com/annemcgurty

Have an extra bedroom, get cash without a long term contract

Last year when I was in London, I had no idea where to stay but I know I wanted to feel safe and comfotable. The costs of hotels were so high and if I exceeded my budget for a hotel I knew I wouldn't get out exploring as much as I would like. I had heard about a service called, AirBnB which lists private residences that have an extra room.  Turns out, I found a listing in my budget in a premium location right off the tube, the London subway.

How cool was it to kick back with a local family, have some basic food available in the fridge and really dive into the local flavor visiting in an actual neighborhood.

Today, I am one of the hosts for AirbNB.  I have a two bedroom condo in Paradise Valley, AZ, a community wedged between Scottsdale and Phoenix.  Considering I'm surrounded by 4 and 5 star hotels, people are often looking for a less expensive option.

If you live in a community where there may be a draw for visitors, whether it's a college town, a golf resorts, ski resort, or summer theater location, you may just have the perfect venue to have your own bed and breakfast.

I'd love to hear your stories.  Share you stories here with me.  If you want to sign up for AirBNB, they have a referral program too, so once you sign up, you can refer out to friends and increase your revenue that way also.  Click here to sign up for your account to travel or to list.