The best way to predict the future is to create it. – Peter Drucker
As an entrepreneur you often find yourself juggling many aspects of your business. You wake up having to decide which hat will you wear today, will I be the engineer, accountant, receptionist or IT specialist. And on most days you probably don't get the chance to choose thus you are all of them. Today, there is one hat on you can take off. Fontenot & Associates Solutions LLC is here to support with the development of policies and procedures for your unique business. The framework and vision your needing to share with your current or potential clients can be shared with just a few clicks.
Take a few minutes to view one of the guides we are working on for Real Estate Entrepreneurs looking to educate potential clients as they make one, if not the largest invest of their lives. Our guide gave give a quick background of your business, the topic you want to share and how that process will work for them.
As a business owner it is never to late to make an investment for your business and customer market. Creating and developing guides are tedious and time consuming but necessary, so allow our team of professionals to help with the building of your brand.
Solutions start here!
Entrepreneurs are preparing everyday to be the best in there industry. One of the best tools of insuring you become the expert is by continuously educating yourself. If your a real estate entrepreneur, your probably asked this question very often, "What is a short sale?". To many of your potential clients the language may be received as a foreign language. Have you ever considered developing a detail guide for your clients to have readily available to present a potential client? Many people are visual in learning.
Today, we will share clips of a great article by realtor.com which explains what a short sale is? Can this be a good investment for entrepreneurs seeking to build a business in real estate?
" Say you’re selling your home; however, the offer you get is so low, it won’t cover the total amount you owe on your mortgage. But you need to unload it, so you’ll take it. This is a short sale—simply put, you end up “short” on paying back your lender, and the bank agrees to accept less than what’s owed on the loan.
According to the most recent data from real estate information company RealtyTrac, 5.1% of all single-family home and condo sales in early 2016 were short sales. Often homeowners are pushed into a short sale by personal financial troubles that make it impossible to pay their monthly mortgage. At the same time, they find it hard to sell at a price that would enable them to pay off their loan—especially if local real estate market trends have driven down their home’s value. This happened in many communities across the nation during the housing bust of 2008.
While selling a home under such circumstances is hardly ideal, many experts argue it’s smarter than pursuing more drastic measures like bankruptcy or foreclosure. Here are a few of the benefits of a short sale for a distressed home seller:
Solutions start here!
Act enthusiastic and you will be enthusiastic. – Dale Carnegie
As a small business owner the thought of financial statements and/or financial reporting may seem challenging for you to understand. Don't allow that fear to keep you from reading this article. As an entrepreneur, understanding your very own financial statements, just as well as your accountant, is what will help define future goals and success. Let's take a look at what financial reporting includes and what it means for your growing business?
Financial reporting includes the following:
A small business uses cash flow statements to report the inflow and outflow of the business. The inflow is the cash or revenues that come into the business through the sale of commodities; the outflow is the cash used in the daily operations of the business. This inward and outward flow of cash is important to keep a business in operation. Without sufficient inflow, then the business will lack cash to pay for expenses and to purchase inventory or stock.
To establish your business policy and procedures today, visit our website. It's never to late to get started!
Better understated than overstated. Let people be surprised that it was more than you promised and easier than you said. – Jim Rohn
How much do you know about problems that occur in the oil and gas industry? The workmen in the field have to complete many phases to ensure a well gets to the producing phase. If there is a delay, it can be for reasons we have identified and shared below.
Workover operations generally involve using a special workover rig to restore or stimulate production from a particular well. A situation in which a workover may be necessary would be an open hole completion where sand from the producing formation has clogged the tubing end, reducing or completely cutting off the fluid flow from the producing horizon. A workover may also be necessary when the casing has been perforated, and rock or sand particles have clogged the openings in the casing.
Other problems and oil and gas company may encounter is regarding damaged or lost equipment and materials. Equipment or materials may be damaged or lost during the drilling process. Some examples of damaged equipment would be twisted drillpipe or broken bit. Examples of lost equipment include parts of the drill bit, hand tools (e.g., wrenches) and drillpipe twisted off downhole. If the well is an exploratory well, the cost are expenses or capitalized, depending upon whether the well is unsuccessful or successful.
The oil and gas industry offers great opportunities to learn a wide range of rules, regulations and professional growth. Learning is key for any industry, thus I encourage you to never stop learning and to take on opportunities that allow you to learn more.
Logic will get you from A to B. Imagination will take you everywhere. – Albert Einstein
Failure is not about insecurity. It’s about lack of execution. – Jeffrey Gitomer
The only place where success comes before work is in the dictionary. – Vidal Sassoon
Before deciding to start your new business, entrepreneurs should consider completing the task of determining their net worth. The process is pretty simple but a path rarely traveled by entrepreneurs before launching their business. Taking the step to create a foundation for the creation of a financial plan that reflects who you truly are says a lot about your future success.
Just imagine how many professional before you wish they would have slowed down and taken a step back in order to take a huge leap forward. Think about it, once you start your journey of turning your dreams into a reality when does that process ever slow down? It doesn't. Each new day gets you a step closer to your dream goals, so why would you stop. Understanding this, now is a good time to "stop" and define what success means to you especially financially.
Start with gathering all of your most recent important documents such as retirement statements, bank statements, insurance documents, home-owner deeds, investment accounts and automobile titles. This will provide you an idea of your current net worth (Assets - Liabilities) before making the decision to use personal funds to fund your business start-up. I encourage you to not be afraid to know this fact about yourself? It's nothing to be ashamed of - it's more of a stepping stone and a first step in establishing future goals.
Consider how you can improve your net worth with the tips below.
If what you are doing is not moving you towards your goals, then it’s moving you away from your goals. – Brian Tracy
The world of filming offers a dream career for many people. As a business owner, how are you planning for company success? And as an entrepreneur how will your business services be unique to the industry? Planning for success in any industry starts with a business plan that includes short-term and long-term goals. Some states offer grants for filming in their areas but grants will not keep your business moving so you must consider other options for funding. Topics such as funding should be outlined in detail within your business plan.
When developing a business plan be prepared to incorporate the expected challenges the industry may bring such as taxation, hiring staff and making the proper connections. Will you bring a partner onboard and if so at what phase of the business? How will you and the business partner mingle funds into the business. These are questions I encourage you as an entrepreneur to consider before the days turn into months and the months turn into years.
The Houston Chronicle published a great article about getting started, check it out. Below are additional links to use in learning more about the industry:website today and schedule your FREE consultation.
Tell everyone what you want to do and someone will want to help you do it. – W. Clement Stone
Fontenot & Associates Solutions LLC overall mission is to close process gaps within all organizations which is a key tool for teams in building team cohesiveness and improving organizational process inefficiencies. Even as a start-up organization, well-written policies and procedures bring structure. How will your business measure success and failure? As a business owner begin your road to success with understanding your goals and purpose for your business and how you plan to expand and it grows.
Here are just a few questions to consider before you start writing any policy, it is important to gather the information you need to develop an accurate document. To effectively focus your preparation, be sure you are clear on the point of the policy you are about to develop. Is the policy being developed in response to a problem encountered within the industry or profession, in response to a new regulation policy issued, or for some other reason? You need to determine what you are trying to accomplish, and make sure the point of the policy will be clear to your target market.
Visit our website today to learn more about the services we can offer your company in start-up phase or as you grow.
Hello, I'm Terra the Founder and Marketing Director of Fontenot & Associates Solutions. Thank you for joining my Accounting world. Our blog's purpose is to teach with the determination of closing industry and accounting process gaps that knowingly exist with our uniquely designed detailed procedures and trainings.
My mission is to offer the best accounting results for all companies seeking to close their process gaps with actual solutions. With my Bachelors and Masters Degree in Accounting, I strive for continuous development and professional growth in this profession. My professional career has been in the Oil & Gas industry for nearly the past 10 years but my business focus is to support and train accounting professionals in all industries.