Paying Too Much Attention Can Cost You Money

Paying Too Much Attention Can Cost You Money

Sales and financial pitfalls. What do these two have in common? Let me give you two hints:

You walk into a retail store advertising 50 percent off store wide sale. You walk out the store after spending $150. Your budget was $80. Although it was over your budget, you did manage to walk out the store with more items for $150 than you could have without the sale.

When reading “financial crisis of 2008 to 2010” what images and emotions come to mind?

What they both have in common is fixation. For the majority of people, our minds are preoccupied with the idea of saving money on a sale and a memorable moment impressed upon our frontal lobe that seems to never fade.

The advertisement of a sale has no advantage unless you are saving money. Typically, we tend to overspend when there’s a sale which makes it difficult to save for retirement or other long-term goals. How many times have you or someone you know have said “oh, it’s only $40” (or another dollar figure) because, otherwise, the item would have never been bought for $80? It doesn’t stop there. Then, there’s something else that you have always wanted (it just happens to be that way because it’s a sale) and buy it. Next thing you know you are buying more than what you have intended. But you justify it because it’s a sale. But it’s up to you to not overspend. We anchor on the idea of a …

Read more

Learning Financial Spread Betting

Learning Financial Spread Betting

Did you think that you must lay low during this financial crisis? Is it a tough time for making money? Actually, if you keep seeing your hunches turn into fact when you switch on the financial news, maybe it’s time for you to get into financial access betting.

It’s one way to parlay your guesses on local and foreign market movements, the strengthening or weakening of any currency, or how a basic commodity will be affected by nature’s changes, the market’s demands, or the market climate into money. And you do these free of taxes, too! While spread betting can make you a lot of money, that also means you could lose a fortune, too. Actually, you can lose more than what you already put in. However, it’s this type of speculation that is calling more than a few spread traders into the market.

One of the siren calls is that it doesn’t call for commissions nor taxes. Another is that spread betting doesn’t require a sizable amount of investment in order to start. It can be a very small amount of capital that is used in order to open an account to be able to trade across various types of markets. Whether the markets are going up or down, spread traders make money. Then, since you don’t actually own the shares you are speculating on, there are no commissions or taxes involved. The cash betting firm pays the taxes so it’s much more cost effective and efficient for the …

Read more

How to Get the Most Out of Your Hourly Employees

How to Get the Most Out of Your Hourly Employees

This article has reference to my 19 years as a manager and multi unit owner in the fast food industry. When I sold my restaurants in 2005 I had 8 employees that had been with me for over 5 years. This is almost unheard of in this high turnover industry.

Imagine that you walk into my restaurant and are greeted and asked if you would like your favorite sandwich and toppings by an employee that knows your name and favorite sandwich. As a business owner you obliviously understand the value to your business and continued sales growth of having the same 4 people on the lunch line each day. People like to go for lunch where they are greeted and recognized, where the staff is friendly and makes them feel like they are glad they came.

What is the secret to having a competent friendly customer oriented staff? I believe it is an attitude towards people and the value that you as a business owner put on employees. I have heard very negative comments from business owners towards their staff. These people hold your ability to produce income in your fast food business in their hands.

Creating an environment conducive to having motivated and happy employees is an attitude.

Let me give you an example of a great lesson I learned when I was an employee. I was a salesman for a water softener company, and on one great Monday I sold 6 units, quite a feat. No matter how …

Read more

Finding the Right Commercial Oven For Your Restaurant

Finding the Right Commercial Oven For Your Restaurant

Every restaurant in existence uses an oven, and all but the smallest ones need an effective commercial oven in their kitchens. New restaurant owners may be overwhelmed with the wide variety of potential choices, and I’d like to help inform you of a few potential possibilities.

When you decide which type you’ll need, you should let a number of different elements weigh in as the basis for this purchase. The two most important factors come down to the type of food you’ll be serving and the number of guests you plan to serve throughout the day.

By developing an understanding for the different types of commercial oven, you may have a better idea as to which would be best in your restaurant. Let’s start out with the most popular style, and that’s the convection oven. The reason that so many people choose to go with a convection model is because of its reliability. A fan from within the oven blows all of the hot air evenly across your food, leading to consistently well heated meals.

This prevents the issue that other oven types may run into, especially in restaurants that commonly heat up frozen. While they cost some extra money, the price of a convection oven is well worth the money spent in most restaurants.

But another style of oven that is very popular is the conveyor oven. Who usually uses an oven like this? They are very popular in high-volume restaurants that need to prepare a lot of food …

Read more

Business Link Bye-Bye: Smart Start-Up

With the Government Business Link closed in November this year, potential entrepreneurs will lose what has proven to be a valuable source of advice and guidance. The financial turbulence experienced in recent years has made some of the biggest companies in the UK close their doors, not only leaving thousands of people unemployed, but also making clearer avenues for new SMEs to emerge. New companies are continuing, with the SME sector accounting for 99.9% of all companies in early 2010.

Business Link Bye-Bye: Smart Start-Up

Of course, not all early stories have happy endings. Without proper preparation, finding your feet as a business can quickly turn into a wobbly that you cannot recover. Without Government support through Business Link, you might ask where you can get the advice you need to start a new business? Well, the Government itself suggests a professional business coach is your answer.

How can Business Training help?

Beyond your initial idea, there are a number of important things that you should consider carefully before you are ready to launch your business. It is important not to rush through these initial stages. While your time is a valuable resource, it is not the most important factor when it comes to launching a new business.

Falling into the trap of the belief that it is very important to make yourself “out there,” many business owners have produced business cards, logos, websites and slogans before they do the necessary research and face the complex problems that need to be faced if businesses want …

Read more