On Tuesday, I introduced one of our clients (Steve, CEO) to a Venture Capitalist, Joe.
Once Steve explained the business premise (business model) to Joe, Joe asked two key questions!
1. Will you meet your financial projections?
In other words, are you SURE in this economy that you will generate enough sales revenue and control your costs so [...]
Recently, a number of our clients have asked us to help them evaluate what is the Right amount of FREE work…In other words, how much FREE Before FEE. This is a delicate balance (depending on your field). Sometimes it’s customary to give free work to develop the business or win the client. But, the difficulty [...]
Flash: IRS increases mileage reimbursement rate to 58.5 cents/mile.
For miles you drive your personal car for business purposes you can deduct 58.5 cents per mile on your tax return.
The new rate is effective for miles driven between July 1, 2008 and December 31, 2008.
The old rate that went into effect [...]
The other day, I was walking down Main Street in Armonk, NY 10504. It was a very hot day and I passed La Mer Seafood. Outside was a simple advertisement: “Lemonade + Arnold Palmer: $1.50 a Glass.” The ad was written with a magic marker on a white board, approximately 2’ x 3’.
Very simple. Crystal [...]
We proudly bring you another case study about “Company A,” one of our best clients that happens to be run by a savvy woman!!! I mention the founder/CEO’s gender because it’s relevant to this post…
She just emailed me to describe a situation where she’s pitching a marketing package to an internationally recognized businessMan and author. [...]
As a business owner and entrepreneur you may have focused on the difference between the owning and running a business and having a job—being an employee. And there IS a difference. A job is often considered to be a five day, 9 to 5 endeavor where the employee collects a pay check (salary) along with [...]
With April 15th just around the corner, a number of people are preparing their income tax returns and have asked us about the 2007 mileage allowance rate — the reimbursement rates to use for business use of their personal automobile.
The 2007 rate for actual miles driven for business purposes is 48.5 cents.
The 2007 IRS mileage [...]
Knowing your effective tax rate can help you make more profitble business decisions because you’ll know how much of every dollar of sales and pre-tax profits you keep, after you pay income taxes, And how much pretax income you have to generate to accumulate a certain amount of cash or cash flow for spending.
A good rule of thumb or [...]
Selling prices range from low to high and up and down. There are several ways to calculate selling prices.
One way is to study market prices and market pricing — the prices your competition charges for the same goods and services [but, by the way, The Revenue Miner™ is Not a big fan of merely [...]
This useful rule of thumb can help you gauge profitability of your business, the quality of sales revenue and the ratio of sales revenue to costs.
>> Sales Revenue equals 3 times Costs OR
>> Sales Revenue equals 6 times Costs
>> Or some other multiplier that works for your business.
The concept is that in order to turn a [...]
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