Yes, but is your business profitable enough? Even when you earn a decent living now, you cannot be quite sure that your business is as profitable as it ought to be.

You know your price is right when you can say yes to the following questions:

• Are you sure that you will be able to retire comfortably?
• Are you sure that you will be able to make the investments in the coming years, necessary to continue your business?
• Are you sure that you will be able (financially) to hire the people you need?
• Are you sure your business is profitable enough for a possible future buyer?
• Are you making a decent living yourself?
• Are there any existing loans and can you service them?
• Is your business competitive?

What should be covered by the price you ask for your products or services? Let us look at the questions mentioned above. For each item we will determine the annual figure. When we have all these yearly figures, we add them up. This total represents the sum of all the annual costs and the reservations we have to make each year.

• Your retirement.
• Whether your are saving money in the bank or pay an insurance company, this money must be brought up by your business.
• Determine the sum you save or pay (or want to) annually for your retirement.
• Investments.
• Usually the yearly contribution to the Capital Replacement Reserve is the total of depreciations (writing off investments) and therefore related to the installed base (of machinery).
• This method is based on historical data. Depreciations concern investments done in the past.
• There is a better method that looks into the future:
• Decide what time-horizon you will use. Say 10 years.
• Take a spreadsheet and occupy 11 columns, 1 column for description and 10 columns for a 10 year period, one column per year.
• Write do
  Licensed Practical Nursing Career
  Licensed Practical Nurses provide the most amount of direct patient care within the nursing category of healthcare. If you’re interested in a healthcare career dealing directly with patients, becoming an LPN is a rewarding opportunity. Licensed Practical Nurses are mainly responsible for direct patient care. Nurses’ aides and others assist LPNs in some of the duties they perform. LPNs take their direction from doctors and registered nurses (RNs) and nurse managers. Typically, an LPN is responsible for taking vitals signs, administering injections, application of bandages and dressings, and the monitoring of patients. Work duties can also include feeding patients, collecting samples and providing patient hygiene. LPNs work in a variety of
  continue your business?
• Are you sure that you will be able (financially) to hire the people you need?
• Are you sure your business is profitable enough for a possible future buyer?
• Are you making a decent living yourself?
• Are there any existing loans and can you service them?
• Is your business competitive?

How can you be sure of these things? In general terms the answer is very simple. You can be sure of these questions when your turnover is sufficient to cover these points. Turnover is the product of quantity sold and price per unit. Let us focus on the price. Selling enough of your products or services is not the subject of this article.

What should be covered by the price you ask for your products or services? Let us look at the questions mentioned above. For each item we will determine the annual figure. When we have all these yearly figures, we add them up. This total represents the sum of all the annual costs and the reservations we have to make each year.

• Your retirement.
• Whether your are saving money in the bank or pay an insurance company, this money must be brought up by your business.
• Determine the sum you save or pay (or want to) annually for your retirement.
• Investments.
• Usually the yearly contribution to the Capital Replacement Reserve is the total of depreciations (writing off investments) and therefore related to the installed base (of machinery).
• This method is based on historical data. Depreciations concern investments done in the past.
• There is a better method that looks into the future:
• Decide what time-horizon you will use. Say 10 years.
• Take a spreadsheet and occupy 11 columns, 1 column for description and 10 columns for a 10 year period, one column per year.
• Write d
  Logos: Price, Process and Pitfalls
  Section 1: An OverviewIf you want a great logo, versus a mediocre one, you need to acquire a general understanding of what's involved in the process of designing one. You also need to know a thing or two about whom you're trying to sell to. Finally, you need to be able to trust your designer's instincts.First, some basic terminology: Icon: a symbol or brandmark. Think Nike's "swoosh." Wordmark: graphic representation of the name of a brand. i.e. letters only (e.g. GAP, Coca Cola) Brand Slogan/Tagline: phrase that supports the identity of a service/product over a lengthy period. Logo: A combination of any/all of the above. Trademark: a logo that has been registered to protect against imitation. (e.
  these questions when your turnover is sufficient to cover these points. Turnover is the product of quantity sold and price per unit. Let us focus on the price. Selling enough of your products or services is not the subject of this article.

  What should be covered by the price you ask for your products or services? Let us look at the questions mentioned above. For each item we will determine the annual figure. When we have all these yearly figures, we add them up. This total represents the sum of all the annual costs and the reservations we have to make each year.

  • Your retirement.
  • Whether your are saving money in the bank or pay an insurance company, this money must be brought up by your business.
  • Determine the sum you save or pay (or want to) annually for your retirement.
  • Investments.
  • Usually the yearly contribution to the Capital Replacement Reserve is the total of depreciations (writing off investments) and therefore related to the installed base (of machinery).
  • This method is based on historical data. Depreciations concern investments done in the past.
  • There is a better method that looks into the future:
  • Decide what time-horizon you will use. Say 10 years.
  • Take a spreadsheet and occupy 11 columns, 1 column for description and 10 columns for a 10 year period, one column per year.
  • Write d
    Financial Accounting With Double Entry Bookkeeping - Traditional Methods of Financial Accounting
    In this series of articles it proposed to cover the following topics. In this article I have discussed the first one given below. More articles describing the other listed topics below may soon be published.Meaning of BookkeepingDefinition and objectives of BookkeepingAccounting SystemsBranches of AccountingUses of AccountingLimitations of Financial AccountingExplanation of important Accounting termsThe Accounting CycleResponsibilities of an accountantImportance of data in accountingParties interested in accounting informationIn today's world of ours every activity is with some motive, i.e. purpose. In most of the cases. The pu
    es, we add them up. This total represents the sum of all the annual costs and the reservations we have to make each year.
    • Your retirement.
    • Whether your are saving money in the bank or pay an insurance company, this money must be brought up by your business.
    • Determine the sum you save or pay (or want to) annually for your retirement.
    • Investments.
    • Usually the yearly contribution to the Capital Replacement Reserve is the total of depreciations (writing off investments) and therefore related to the installed base (of machinery).
    • This method is based on historical data. Depreciations concern investments done in the past.
    • There is a better method that looks into the future:
    • Decide what time-horizon you will use. Say 10 years.
    • Take a spreadsheet and occupy 11 columns, 1 column for description and 10 columns for a 10 year period, one column per year.
    • Write d
      Double Standards for Yellow Page Advertising Companies
      When it comes to Yellow Page Advertising Companies there is a complete double standard. You see, yellow page advertising sales wraps will come into a company or a business and demand to talk to the owner and immediately engage them in conversation. If they do not respond or if they are with a customer and say one minutes, often the yellow page advertising salesperson will say I only have one time to come to your shop if you want to be in next year's yellow page book you need to talk with me now or set up an appointment.Now comes the kicker, my company operated in 450 cities, 110 markets and 23 states in the business of washing people's cars at their office building. What is amazing to me is that the Yellow Page Advertising Company
      otal of depreciations (writing off investments) and therefore related to the installed base (of machinery).
    • This method is based on historical data. Depreciations concern investments done in the past.
    • There is a better method that looks into the future:
    • Decide what time-horizon you will use. Say 10 years.
    • Take a spreadsheet and occupy 11 columns, 1 column for description and 10 columns for a 10 year period, one column per year.
    • Write down your planning for future investments. One row for each item. Take the yearly inflation into account.
    • Add up each column. Totalize the columns, now you have the grand total of future investments for the coming 10 years.
    • Divide this total into 10, resulting in the average annual investment.
    • Personnel.
    • Make al list of your staff members followed by their annual salary. Depending on your local circumstances, you have to take the following items into account:
    • Social security insurance.
    • Medical costs insurance.
    • Sickness, average number of days per year, per employee.
    • Holidays.
    • Courses.
    • Travel allowance.
    • All these items add up to the total annual cost of personnel.
    • Management fees.
    • The annual sum of money you should take out of your business to live from.
    • Existing loans.
    • If there any loans write down the sum you pay back every year and the interest.
    • Out-of-pocket costs.
    • Add up all costs your business makes (except the items mentioned above), including the costs of production or those of service delivery.
    • Required or desired annual profit.
    Add up all these figures and you will have the yearly sum your business should earn, in order to reach the goals you have set. We call this total: Competition Base.

    Is your price right and is your business competitive?

    The answer to this question will be given by a comparison with your competition. Say that you own a consulting business. Let us assume that the average fee per hour for your type of consulting is $125. Your Competition Sum totals $934,200. You bill 7200 hours yearly. Your fee per hour should be $934,200/7200= $129.75. We call this fee: Competition Factor. Perhaps your real fee is about $125 per hour then you are loosi