Recent Posts by EVELYN IVY

As a small business owner you are faced with multiple decisions such as whether or not to make a purchase, what products to offer, pricing of products and services, etc. Without having a decision making process, most decisions you make will be ruled by emotions and not logic. This means an entrepreneur without a decision making process will abandon choices with good outcomes to follow a choice with a negative

There are two phases an entrepreneur goes through namely wealth creation and wealth preservation. In the wealth creation mode, an entrepreneur is so focused on growing his or her business and so holds all assets in the company. On the other hand, in the wealth preservation mode, the entrepreneur is more concerned about preserving wealth and begins to look outside the company to create a balanced portfolio. This helps the

Costs incurred by a business are classified into two types a) Direct Costs b) Indirect Costs Costs which can be traced to the finished product or service are called 'direct costs'. On the other hand, costs which cannot be traced to the finished products or service are called 'indirect costs'. Indirect costs are also known as 'Overhead cost'. As a small business owner, it is easy to allocate direct cost

Life is full of choices and our choices of today are the realities of tomorrow. As you grow your business there will be lots of opportunities presented to you. And most of them will sound like real good profitable options. However, your choice to invest in other business opportunities should be aligned with your business goals and not money. When you invest your time, efforts and money in a deal

Jane Adams had a retail business with very good sales. Every month, Jane's accountant presents Jane with her financial statements telling Jane she is doing very well. But every time Jane looks at her bank account it does not reflect what she sees in the profit and loss statement. Every year, Jane has to take a loan to pay her tax bill and she is beginning to wonder, if I