DO YOU KNOW YOUR BUSINESS NUMBERS??

 

Every transaction in Business involves numbers.  Whether you are buying or selling, numbers are important.

In manufacturing, numbers tell you the cost of each unit of goods produced.  In the service business, you need numbers to determine your charge out rate.

Business numbers show you how much you have put into your business (capital), how much you have made (profit), and how much you have taken out (drawings).

Business numbers help you know whether sales are increasing or declining.  Business numbers help you understand the difference between your cash in bank and the profit made.

Business numbers forms the basis for tracking and comparing transactions such as monthly, quarterly and annual sales; inflow and outflow from inception of business, etc.

The importance of business numbers cannot be over emphasized.

‘A business that does not know its numbers is weak.  It cannot access its growth; neither can it make projections to further grow its activities.’  This is a major reason why many businesses fail, because business owners do not understand their business numbers.

Understanding your business numbers is easy.

Let us help you know and understand your BUSINESS NUMBERS. Find contact details below.

Your friend and Financial advisor

Ehis Egbuji.

(Nigeria's Small Business Accountant)
ehisegbuji@gmail.com

**photo credit – enpnetwork.com

RECORDS KEEPING IS A TOOL FOR FINANCIAL SUCCESS IN BUSINESS (MYB™ Series)

 

Records keeping are important, whether in your business or personal life.  Well kept records helps chart a course and prompts you to the next line of action. They show whether you are still in line with your vision or have derailed.

Most developed countries like America have rich histories because they have well kept and documented records.

In business, Financial Records Keeping (FRK) creates a solid history for your business.  You can track your transactions; your sales, inflow and outflows; monitor growth from inception to date.  Financial records keeping (FRK) will prevent financial clutter and help you in making strategic decisions. 

If you are in the habit of destroying financial records like – receipts, deposit slips, contract agreements, be careful because you may have regrets someday when you need these documents and do not have them anymore .It is not too late to start keeping records, you can start now.

As you plan for a new week, month or year, make record keeping part of your goals.  Below are some reasons why record keeping is important.

THE IMPORTANCE OF FINANCIAL RECORDS IN YOUR BUSINESS

1.    Helps establish a check system for profit or losses in your business

 

      2.    Helps in monitoring/tracking debtors and creditors

3.    Helps in your tax computation (so you do not overpayment or under payment of taxes)

4.    Monitors business debt profile (whether it is increasing or decreasing)

5.    Helps you in business valuation (when you want to sell some part or all of your business)

6.    Helps determine your business cash inflow/outflow pattern

7.    Creates financial integrity for your business (your business records speak for itself)

 

THE IMPORTANCE OF FINANCIAL RECORDS IN YOUR PERSONAL LIFE

1.    Helps you determine your networth

2.    Helps you evaluate how well you are achieving your financial goals

3.    Creates transparency and limits suspection

4.    Helps you know your money character -  spender, miser, donor, saver, strategist, futurist, announcer, etc

5.    Helps you review and increase your financial goals

 

Don’t just invest in a record keeping system.  Invest in a relationship with an expert which will pay you now and in the future. 

Your accounting software will only show you figures.  It’s the accountant/finance expert that will explain what each figure represents.

 

I remain passionate about your financial success in bussiness & life,

 

Ehis Egbuji.

YOUR NETWORTH : THE PSYCHOLOGY OF THE PAY CHECK

As an employee, the idea of a pay check at the end of the month puts you in a value box.  You may be lucky to be in the top value, or unfortunate to be amongst the bottom value based on ‘Subjective Negotiation’.

Your satisfaction in work and life largely depends on your perception of your pay check, and you start believing that is all you are WORTH.

George never took time to establish his ‘real’ NETWORTH, and found it difficult to earn more despite his many qualifications.

Whether you are negotiating a new wage, an increase,  or quoting for your services,  you gain satisfaction when you negotiate base on your ‘Networth’. Your  Networth helps to ensure that you do not under-price or over–price your self. It’s not about calling a figure or ‘psyching’ your self, it’s about understanding why you should be paid a certain amount.

Your NETWORTH can be computed using a  number of criteria such as – your educational background, personality, soft skills, etc. These are criteria employers use to minimise the amounts paid as salaries.

Below is a typical example of a college graduate NETWORTH

Do not stop your self from earning more! Enrol in the NETWORTH PROGRAM today. Sign up on this link - http://eepurl.com/bQNDsv.
Limited slot are available.

Committed to increasing your wealth,


Ehis Egbuji
Finance Expert

Picture credit - cashmoneylife.com

THE SECRET FORMULA FOR BUSINESS SUCCESS (The MYB ™ SERIES )

The secret formula for Business success is as old as man.  In the past, only a few were privileged to this SECRET FORMULA.

Over the years, many have embraced it and recorded remarkable success in their lives and business.  This SECRET FORMULA is called – FINANCIAL EDUCATION or FINANCIAL INTELLIGENCE. You will achieve Financial Success in your business  when you apply this FORMULA the right way.

BUSINESS SUCCESS FORMULA CHART 

IT STARTS WITH YOU  (business owner/CEO/ board of directors).
Your  first step towards success is to invest in your FINANCIAL EDUCATION.  You are the base of your business. The success of a business enterprise relies on the knowledge and experience of the owner(s)/Managers.  The amount of financial literacy you possess is what will take your business beyond its current position.  A financial knowledge gap can holdup the growth of your business and give your customers to your competitors.

NEXT IS YOUR TEAM/EMPLOYEES
Do you remember the popular quote – ‘garbage in, garbage out’? It’s the same when dealing with your team.  if you do not equip your team with ‘sound’ financial knowledge, they will make poor financial decisions for your business, which is a greater opportunity cost to you and your business.

Choose the lesser COST; create a WIN-WIN for you, your business and your team by investing in FINANCIAL EDUCATION.  Enrol in a course; purchase a training kit; attend seminars and workshops.  You will gain the COMPARATIVE ADVANTAGE of an enlightened and broaden FINANCIAL OUTLOOK.  You and your team will gain FINANCIAL MASTERY of your Business Finances.

‘Your investment in FINANCIAL LITERACY will pay you in the present  and in the future with HIGH RETURNS!’

FINANCIAL EDUCATION + YOU + YOUR TEAM = FINANCIAL + BUSINESS SUCCESS!

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DO YOU WANT TO EXPERIENCE GROWTH IN YOUR BUSINESS FINANCES? INVEST IN A BUSINESS FINANCE HEALTH CHECK(B.F.H.C) TODAY!  Sign up and get a ‘Free’ business FINANCE’ assessment sheet.
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I remain passionately committed to your Financial Success in Business!

Ehis Egbuji. 

TOP 3 REASONS TO INVEST IN FINANCIAL EDUCATION

Robert Kiyosaki is one Mentor in finance that I greatly admire and respect.  Since I got to know about him, his message to the world has remained the same – INVEST IN FINANCIAL EDUCATION!

'You will never achieve your LlFE GOALS if they do not tie into your FINANCIAL PLAN.'

1.      FINANCIAL EDUCATION helps you to seamlessly integrate and translate your life goals with and into financial goals.  No one  was born with the knowledge of finances, so you have to learn how to master your finances.

2.      FINANCIAL EDUCATION is what has made the likes of Robert Kiyosaki, Dolnad Trump, Orpah Winfrey, Aliko Dangote, Bill Gates, etc, the successes they are today.

3.      In today’s world where information is constantly changing, FINANCIAL EDUCATION will help you easily navigate the feilds FINANCIAL uncertainties.

Begin the journey to financial fulfillment now! Follow these steps.

STEP 1 – talk to a FINANCE EXPERT online or face-to-face.

STEP 2 – invest in your FINANCIAL EDUCATION by purchasing a finance package or program based on the advice of a  FINANCE EXPERT.

STEP 3 – apply the skills and knowledge acquired from the finance program.

STEP 4 – sign up to receive regular tips from a FINANCE EXPERT.

Keep learning and asking questions.  Don’t get scared of change or trying something different! Make Financial Education your goal this  2016.

For free expert advise from a finance expert, contact us today –

e-mail: ehisegbuji@gmail.com

skype ID – ehisegbuji

twitter - @ehisbebe

call/whatsapp - +2347034450000, +2348091001173. 

We will help you achieve financial fulfillment!

Ehis Egbuji.

Picture credit - www.fotolia.com

IMPORTANT MATTERS IN BUSINESS – TAX PAYMENTS

Emily James runs a small business.   Her confusion with taxes and tax payments inspired this article.

Tax is an amount paid from your earnings to the Government for efficiently running the society.

Businesses pay tax on their profits (Income – Expenses).   Employees pay tax on their earnings (salaries and wages).

Under the Nigerian tax system,  companies pay income tax of 32%.  Employees pay between 7% and 24%, depending on the amount earned.  For casual employees,  i.e. those without a regular source of income are taxed differently, either as a fixed amount or percentage.  Computing taxes can be complicated and most often requires the help of a Finance Expert.

Not paying your tax or making wrong remittances is seen as a criminal offence.  As the year rolls to a close, ensure you have made your relevant tax payment to the relevant Tax authority.

‘Shut the Government up by dutifully paying your tax.  Then you can demand what is rightfully yours from the Government.’


I remain passionately committed to your success in life and business!


EHIS EGBUJI
Finance Expert.
Business Accounting • Personal Finance • Tax • Training

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DO IT YOURSELF!!
You can make tax payments yourself!  Simply follow the steps outlined in the book – Tax Remittance Made Easy [How to easily get your Tax Clearance Certificate (TCC)].

To get a copy of this book, contact us -

E-mail: ehisegbuji@gmail.com
Phone: +2348091001173, +2347034450000
Twitter: @ehisbebe

*Photo credit -  www.marketwatch.com

THE TWO MOST IMPORTANT DOCUMENTS IN YOUR LIFE! ( THE MYB ™ SERIES )

If you are 18 years or older, there are two important documents you will need during your lifetime.  The first is your international passport.

The second most important document you need in your life is – your Tax Clearance Certificate  (TCC).  This is your ‘Tax Passport’.

A Tax Clearance Certificate ( Tax Passport) is a document issued when you pay your tax to the Government. It makes you a bonafide member of the society and gives you the right to demand good governance and amenities from the government.

Not paying tax makes you an illegal member of the society and can result in criminal charges against you.

Whether you are self employed or own a business,  it’s your duty to make tax payments at the end of each year.   If you are an employee,  ensure that your employer has been remitting all taxes deducted from your salary especially as the year end draws near.

As a self employed business owner or as an employee, there are  certain tax – free deduction you can enjoy on your earnings.   It’s your net earning that should be taxed.   To avoid a wrong tax computation and enjoy the available tax – free deduction on your earnings, please seek the help of a finance expert.


I remain passionately committed to your success!

EHIS EGBUJI 
Finance Expert. 
Business Accounting • Personal Finance • Tax • Training 

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For further enquiries –
E-mail: ehisegbuji@gmail.com  
Phone: +2348091001173 
Twitter: @ehisbebe

Photo credit - wwwrocketswag.com