Asset Sources

The purpose of a business is to build assets that produce income. If you are really serious about building assets in your business then you will need to form a perpetual entity by incorporating.The corporation is the funnel that holds all your income producing assets.You can talk to a lawyer as they are in the best position to help you in this area. As an accountant I am
Learn More

Planning for Predictability not Chance

We all know when a ball is thrown up it will eventually fall down, if you put one foot in front of the other, you move forward.  In the same way as business owners you can plan for predictability rather than chance. I recently read on a website about a small business that used Groupon and almost got buried from this service. The problem with this statement is this business
Learn More

Two Success Strategies for the Lifestyle Entrepreneur

What does it really take to become successful as a lifestyle entrepreneur?There are 2 widely used strategies most entrepreneurs use to build their business namely:Time: As a lifestyle entrepreneur, you start out with very little resources and will need to start small by providing services and products that are very inexpensive to start. Over time these resources bring in value to the system that can be used to create
Learn More

Lifestyle business: The Simple Path to Building a Business to Support the Life you Really Want.

Who says you can't have it all? Do you think that living the life you really want is just a dream?  As a single parent I used to think that living the life I loved was just a pipe dream, only reserved for those with lots of money. But I was wrong, and if you are thinking the same thing, you are wrong too. Seven years ago, I started
Learn More

Episode 1: Accounting for the Beginning Lifestyle Entrepreneur

What really is accounting?Accounting is simply a system we need to organize all our important information.You do accounting whenever you are keeping score. Just like any game of sports will be boring without knowing how to keep or read scores , the game of business becomes daunting if you do not know how to read your score card.Think of accounting as the score board used to keep track
Learn More