How To Get Started With Work At Home Business Ideas

Hello friend. We often want to work at the comfort of our homes and start a business that will generate revenue for us from the comfort of our houses. You can easily turn your home based business idea into a reality by starting off with a solid concept of what you want your business to be. Even if you only have a vague idea in mind there are many ways to make your decision and then narrow your focus.

Searching online is one of the best ways to see what business ideas are most popular. There are hundreds of sites by companies looking for people to work from home selling their products. There are also tons of sites dedicated to listing the most popular home business ideas. Both of these are good ways to learn about what is and isn't going to sell online. The main objective is to choose a general concept that you will enjoy and that you are willing to put work into.

Once you have chosen the general area you wish to market yourself under, it is time to do some more research. Under each general heading there are dozens of different products and services you can choose from. One example would be the green market as a general topic. Within the environment industry you have organic foods, clothing, rechargeable power and technology, cars, and cleaning products. Each of these is a product or service that pertains to the green market. Just staring out it would be tough for you to try to market all of these products and services at once, but as your business grows and develops over time you will be in a situation that will allow you to add more products and services to your line up. This also give you the chance to take advantage of affiliate opportunities in your market and offer more products and services

This concept of expansion over time is the same for almost any business in any industry. You want to start out with a small piece of the industry and continue to grow and develop until you have a wide selection of popular products and services, either of your own creation of through an affiliation with another company that offers them.

Ideally the best way to start your home business is to start off small and work your way to bigger and better. By selecting one piece of the industry and focusing on making that idea profitable then expanding. This way you won't spread yourself too thin as a jack of all trades master of none. To get a few general ideas of the industry you wish to be a part of, look online for the top home business ideas. Pick an industry and then begin doing research on particular products or services you can offer.

How to get Your Mortgage Loan Approved

Our home is the single most expensive thing that most of us will own during our lifetime; and getting approved for a mortgage loan can be stressful, complicated and time consuming. And unfortunately, obtaining a loan is even more difficult today than it has been in the past, due to declining house prices in many parts of the country and the reluctance of some lenders to lend money to buyers.

There is a difference between being pre-approved for a mortgage and pre-qualifying for a mortgage. Being pre-qualified simply means that you have a statement from your lender verifying that, based on a preliminary credit check, you should be able to qualify for a mortgage loan. Being pre-approved means that your information has actually been verified and that you have an underwritten approval for the loan that you are requesting. This is an important difference, as some sellers won’t accept an offer from a buyer who has not been pre-approved; some realtors will not work with a buyer who has not been pre-approved.

Being pre-approved for a mortgage loan also gives most borrowers a fairly accurate idea of now much they can afford to borrow – and how much house they can afford. A pre-approved mortgage should also have a guaranteed interest rate. Despite the obvious advantages of being pre-approved, in some areas of the country, only around 10% of potential buyers are pre-approved and many buyers start the pre-approval process while looking for a home. This strategy can delay you; even prevent you from buying the home of your dreams.

Be prepared to get lots of paperwork together in order to apply for and be approved for a mortgage loan. Typically, your lender will expect to see your last few pay stubs, or a profit and loss statement if you are self-employed; as well as your tax returns from the last two years. You may also need bank statements and your lender will pull a copy of your credit report. It may take up to a few weeks to be approved – or otherwise – for a mortgage loan.

You don’t necessarily need to have excellent credit to be approved for a mortgage, but a good credit score means that lenders will probably offer you better terms and lower rates. Your credit score can make a huge financial difference - a poor credit score that is below 630 can mean that your monthly mortgage payments will be anywhere between $50 and $250 higher. If practical, consider trying to improve your credit score and even waiting a year or two before you buy.

In addition to a good credit score, lenders typically look for a stable work history – ideally at least 6 months continuous employment with the same employer. A lender will also look at your income to debt ratio, to make sure you can actually afford to pay the monthly amount. Of course, at this point you should have a fairly good idea of what you can afford anyway. Any large outstanding debt that can be paid off will give you a better income to debt ratio; and if possible, try not to make a big purchase such as a new car just before applying for a loan, as it will lower your credit score

Finding the right lender is an important part of the approval process. It’s a good idea to compare not only the fees that you will incur with your application, but the overall service provided as well. Try to find out whether the lender is experienced and efficient, how long they have been in business and whether they are conveniently located – you will probably be visiting their office several times during the approval process. One of the most effective ways to find the right lender is simply to ask friends, family and co-workers for their recommendations.

Deciding between a smaller local lender and a larger national mortgage lender can be a difficult decision for many borrowers. In today’s competitive housing market, a smaller lender may be anxious to have your valuable business, may offer more personal service and may be more familiar with the local market. However, a local lender may not be available all the time. A larger national lender may be in a better financial position to lend you money; they may also offer a wider range of products and are often available around the clock.

Once you have been approved for a mortgage loan, the real hard work begins – trying to find the right house!

By Rachel Jackson.

HOW TO IMPRESS BIG-TIME DURING A PRESENTATION

Greetings to you friend. We all have made presentations or are going to make presentations at one stage of our lives or the other. It is important therefore to know how to make a good presentation that will impress those who you are presenting to. You should be;

I. Well groomed; you should be well groomed. You know what they say, first impressions last forever. The ideal focus of a presentation should be on the content but if the presenter is not well dressed and groomed, the panel being human beings may use this against you when presenting.

II. Confident; confidence is another key component for delivering an effective presentation. Even if your content was not good enough, but you showed confidence during the presentation, the board or panel may be compelled to give you a chance since they will see the opportunity of using your passion in another project.

III. Concise and to the point; you should stay away from lengthy presentations that don’t add value to your content and also ‘’bore the panel to death’’. Brief and concise presentations are always effective and will show the panel that you are focused on your work and will get projects finished quicker.

IV Efficient; By being efficient I mean covering the most relevant content in the presentation within the shortest time possible. Remember that the panel are people with a lot in their respective schedules thus if you are efficient in your presentation, it will earn you more marks on their side.

That’s it for now! I hope that helped you in becoming abetter accountant of your online business or money. If you have a question or need information, don’t hesitate to write to me at cashincomes3@gmail.com.

HOW TO SPOT AN ONLINE FRAUD SCHEME

Hello there friend. We live in a global village as it is. The internet has become a hub for almost everything you may want and need virtual as it is. The internet has also brought about with it tales of people who have made it big, becoming internet millionaires and even internet billionaires over night! Therefore as any profession or lucrative venture, there are bound to be a line of fraudsters who want to also make a quick buck or quick cash from unsuspecting people. These are the various signs that you should look out for; 

I. Paying before getting information; never pay to get information. most fraudsters out there claim to have a whole knowledge of information, only to want you to input your credit car information before you can access the information. I am not saying that all people who ask you to pay before receiving information are fraudsters. All I am saying is that reputable people who are genuine in what they do, always give out free samples or e-books of their products first. After you browse through it and see it is of value to you, then you can go ahead and buy it. But before you do so, make sure you have googled the name just to make sure it is really a genuine person.

II. Fake causes; with the advent of facebook and emails. Fraudsters have now turned to these areas as a fertile ground for scamming unsuspecting people. They make up fake causes with sad pictures of little children, and then ask you to donate a dollar towards saving the child in the picture.

III. Spam mail asking you to buy directly from them; Various legitimate companies such as eBay and Amazon have been very successful in selling products, goods and services on the internet. They have also attracted fraudsters who see a listed item on the legitimate websites then fake an email to prospective buyers asking them to buy directly from them and most likely for a higher price. This usually disorients the prospective buyer who is swayed by the amount of money he is being offered. He/ she send the product expecting a return on investment, only to be met with a rude shock!

IV. Online automotive fraud; this has swept more than 100million dollars from victims of this fraud scheme. The fraudsters pick pictures of legitimate cars on sale and then duplicate the listing on their own websites at half the price. This will attract a lot of people who may see this as a bargain but end up paying the price in the end.

V Direct mail asking to pay an amount hire than list price; You may get an email concerning an item that you have posted on eBay, offering to pay you 10 times as much as you expect from the sale. This is enough to ring a ‘’fraud’’ bell in your head.

That’s it for now! I hope that helped you in becoming abetter accountant of your online business or money. If you have a question or need information, don’t hesitate to write to me at cashincomes3@gmail.com.

HOW TO FOLLOW ACCOUNTING PRINCIPLES

 Hello friend. I hope you are doing well and enjoying this voyage in the world of accounting. In whatever profession you engage in, there must be a set of rules or principles that are required to be followed in order to bring about order in the way of doing things. Accounting is no exception. Therefore as an accountant, you should know these principles and how to keep them. These include;
1. Principle of regularity; this can be simply kept by conforming to the enforced rules and laws of the accounting licensing body in your country.

2. Principle of consistency; this is also kept by you as an accountant by application of the same accounting procedures in the work you do from day to day.

3. Principle of sincerity; reflection of the true reality of a company’s financial status is how you keep the principle of sincerity. There are a lot of people with vested interests in those results. Misrepresentation of such information is what lead to the 2008 economic meltdown that has since ‘’rocked’’ the world, and not the good kind of ‘’rock’’.

4. Principle of the permanence of methods; By comparing financial information published by the company and checking to see if it is coherent with the records is how you follow this principle.

5. Principle of non-compensation; You should be able to show the full financial status of the company you are accounting for and not replacing figures such as debt with an asset.

6. Principle of prudence; this is similar to the principle above, therefore to keep it, you should be able to show the records ‘’as is’’ and not include projected results that have not been realised yet.

7. Principle of continuity; when accounting in a business you assume that a business is never interrupted, then you should keep a provision of assets of the company stating their historical and current value but not future value.

8. Principle of periodicity; this principle is kept when you accurately allocate a transaction through the period for which it has been paid. For example when somebody pays for a subscription of an entertainment magazine for a whole year, you should distribute the payments throughout the year and not as a one time payment on one day.

9. Principle of full disclosure; keeping this principle requires you to show all information and financial records pertaining to the financial position of the company.


That’s it for now! I hope that helped you in becoming abetter accountant of your online business or money. If you have a question or need information, don’t hesitate to write to me at cashincomes3@gmail.com.

How you Should prepare for Retirement

RETIREMENT! Most of us dread that word, because we don’t plan for it. We just enjoy our lives buying flashy cars and luxurious houses, and in no time we are 50 years of age with no savings at all! When I thought of this, I decided to find out how we can prepare for it so that when it comes, we are not scared but we rejoice and are glad. Then how should we prepare for it? We should;

1. Invest in government and private bonds; investing in bonds, be they government or private bonds is a very good way of investing your money. Why? You may ask. This is because money tied up in bonds will never depreciate to a level less that the initial capital that you first invested. If you invested 200,000$ now, five years from now, your principal amount could be more than 250,000$ if the interest rates are good, but never less than 200,000$. Bonds are a way of private companies and even the government to borrow money from the Stock exchange market and pay back the amount with an interest rate that is calculated every year. Although the rate of return may be lower than the stock market trading, but the risks of you losing your principal amount is much less.
2. Invest in legitimate retirement benefit schemes; this is another good way of saving up your money for retirement. This is dependant on your country. Here in Kenya we have the retirements benefit authority that exists by the virtue of an act in the constitution. In the public sector, employers are required to include an amount that is paid to the scheme every month in their employees’ salary. However even in the private sector, people can still invest their money with them. It is a good method of investment because you get tax cuts from this and also good rates of return when you claim back your money when you retire.
3. Start a business online; I don’t get tired of emphasizing this fact. An online business has many advantages including increased market audience and reduced operational costs. The economic recession has proven the fact that people still prefer to buy things online because of the reduced costs involved and extra services such as shipping and delivery to their doorstep. If you invest in an online business, it is likely to benefit you when you retire because of its dynamics and increasing popularity worldwide.

Other people recommend that you apply for social security if you are living in America or upgrade your skills. If you take the above steps, you will not need to do all this. Who wants to be 60 and going back to class or looking for employment anyway? I know I don’t. I hoped this information was of help, if not; feel free to write to me at cashincomes3@gmail.com. Have a nice day!

IMPORTANCE OF A SALES LEDGER

Hello, we will cover the importance of having a sales ledger in this article, so that you arm yourself with the necessary knowledge that an entrepreneur needs to know.

 This is a type of ledger which records the sales made on credit to the customers. This is very important because as the business expands, it will require that some goods be sold on credit terms.

1. When there are many sales transactions on credit basis, then it will be very difficult to master all sales transactions hence the need for a sales ledger in accounts which is used to record the details of various customers who have been given credit on goods. For example; If you are dealing with the sales of women's shoes and you buy them in large quantities, then you go ahead and sell the large quantities to your customers on credit basis. E.g. Customer x purchases women's shoes worth 200,000$ on credit. You will need to open for customer x an account under the sales ledger account and record the amount on the debit side of customer X's account. When customer X pays partially for the women's shoes, then you will post that amount on the credit side of X's account thus reducing what that customer owes you.
2. Figures that are posted on the debit side of various customers are used to determine sales on credit for a given period of time. This is used to determine the total sales of that financial period when you combine it or add it to the cash sales of the same financial period.
3. This account is also used to reconcile debtor’s control account, which produces the total debtors account receivable for a given period of time.
4. A sales ledger can also be used by the accounts auditors to detect teaming and lading.

 

I hope the information was of help to you and your business. I wish you all the best in your endeavors. In case of any queries, email me at cashincomes3@gmail.com.

LEDGER

Hello friend, today we shall tackle what a ledger is. So what is a ledger? Well a ledger is a book that is required for proper recording of transactions that affect the business e.g. If you want to start selling women’s shoes boots and you have saved up 50,000$ for the online business venture. When you eventually start the online business, you will have to make entries in your books of accounts and hence the book in which you record the capital (money or cash you want to start the business with) is recorded in the ledger account.

So what kinds of ledger are there? There are 2 main types of ledger available out there.

1. General or Nominal ledger; this ledger records information relating to the proprietor, purchases, sales and expenses. Who is a proprietor? A proprietor is you or the owner of the women’s shoes boots business. The money or cash which you shall have saved for a planned business venture, in this case, a women’s shoes boots business, or you would have borrowed from the bank, is recorded in the general ledger as Capital.

What is a purchase? Well, if you want to deal with women’s boots, you will purchase or buy women’s boots from the manufacturer. Therefore the women’s shoes boots bought are known as purchases and it is recorded in the general ledger; For example if you buy women’s boots worth 200,000$ , the figure will be posted to the purchases account. This will help you in determining which profit you have made after selling the women’s boots.

The sales part is when after purchasing or buying the women’s shoes, you will sell them to your customer. These sales you make will be posted to the sales account which is under the general ledger.

Expenses are amounts of cash or money spent in the course of doing the business. For example if you are dealing with women’s shoes or even women’s handbags, you will have to bring in the shoes or handbags from the factory to where you want to sell them. This is factoring in transport. The transport cost you incur is an expense which should be recorded in the transport expenses account.

2. Purchases ledger or Creditors ledger; this is the second type of ledger

There exists. This type of ledger account is used to record details of various creditors. For example; when you are dealing with women’s shoes or women’s handbags from different suppliers on credit, then the suppliers are referred to as your creditors. You may not be able to master or remember all this information when the numbers of your creditors increase. This will prompt you to record the details under the ledger known as the creditor’s ledger. Therefore when they supply you on credit, then you should enter such information in their respective accounts. For example; if x y z supplies you with women’s shoes or women’s handbags worth 200,000$ on credit, then you will be owing them 200,000$. In this event, you have to keep track of this credit from x y z under the purchase ledger account.

I hope that did help you, for more information you can email me at cashincomes3@gmail.com. Have a nice day!

HOW TO GET A WELL PAYING ONLINE JOB

There are different types of affiliate programs that are available out there. However I prefer using websites like http://www.dealdotcom.com/invite/25089/ , where you even get paid by introducing other people to the website and also get paid for marketing products online with commissions upto 35%! Click the link above if you are interested.

This is the era of the internet or as other people like to refer to it as the dot com century. Almost everything we do involves doing something online. From facebook, where everybody seems to be these days, to watching news and movies online to applying and even working online from the comfort of your home or anywhere where there is an internet connection. You just need a laptop or a computer and you are all set. Here are a few tips on how to get a well paying online job;


1. Prepare your documents well; just because you are looking for a job on the internet or online, does not mean that suddenly you don’t need to present your qualification documents. A job online is just like a job anywhere else, the only difference is that you will be performing it virtually. Therefore if you want to get or qualify for a well paying online job, make sure you have prepared a set of documents that are well arranged. Your prospective employer will ask you to attach and send it to them via email. If you are an artist, you will be asked for your portfolio, other people even make their own web pages where they post their resume and just send a link to their prospective employer. You can also use this method if you can.


2. Polish up on your skill sets; If an employer is going to pay you well for working for him/her, he/she is going to need the most qualified person he/she can get out there so as to give him value for his/her money. Therefore you should always be upgrading your skill sets so that you prove your worth to your employer and ask for a good salary for the work done. If you have a copy of past work done, it is good to send or attach links to them so that your prospective employer can see for his/herself.


3. Use credible job application websites; This is very important because there are a set of fraudsters out there who are just out to get your money and run with it. If you encounter a job application website that asks for money in return for your application, your scam alert should be high. No one, not even the highly paid jobs on the internet require you to pay so that you send in your application. Of course there are some that will charge you to send you updates on job notifications, but there are also many free websites out there that will require no cash from you to send you updates on your email.


4. Observe professionalism; you should be professional in whatever you do. There are many people who do not take the time to get various curriculum vitae formats out there and also do not check their applications for grammatical mistakes before they send it. If you want to get a high paying online job, you must be prepared to be very professional in your job application.


5. Use specific keywords in your job application; If you are going to use search engines online to search for various job applications, you might as well as be very specific on what you are looking for. If you are a cartoon artist, don’t type ‘’artist’’ on the Google search bar, be specific and type in ‘’cartoon artist job’’ on the search bar so that you get a list of the most relevant placements on the internet.


I hope that did help you, for more information you can email me at cashincomes3@gmail.com. Have a nice day!

4 STEPS TO SUCCESFULLY START YOUR OWN INTERNET BUSINESS

1. You should be focused; what do i mean by this? Focus is a very integral part of starting your own internet business. By focus, i mean a lot of us usually get excited by the idea of starting a business on the internet because of the revenue that other people are making from it. However, very few of us actually take action and start. They just get excited about the idea and then get sucked into other things forgetting what they had set out to do. Therefore if you are focused, words such as ''sometime'' and ''someday'', should not be part of your vocabulary. You should start it NOW! There are a lot of fat rewards that are waiting for you on the internet, but first, you should resolve to take action immediately.

2. You should set a time limit; This is very important. If you are a goal oriented person, you should set a time limit for yourself to start the business. It sounds so simple to do and yet most of us actually fail to do it. As a common phrase that goes ''failing to plan is planning to fail'', we often find ourselves in this dilemma due to lack of planning. However, if you set a time limit for yourself, you will be set to accomplish what you set out to do and be well on track to be a successful internet entrepreneur.

3. Find your passion; What is your passion? Yes, a business on the internet is a business like any other. The same passion that you need to start a business offline, is the same kind of passion that is needed to start a business online. What are your hobbies? what do you like writing about? what is your favorite product? Whatever it is, write it down. in fact, write a list of 5 things that interest you or you are fascinated about. be it electronics,games,dolls,e.t.c. After listing them down, do a little research about the areas you have listed. You can use the Google search engine for starters.

4. Prepare your tools; Preparation is the next step in the process. As i have said above that an online business is jut like a business offline. Therefore the same tools you need offline are still the same you need online. In the previous step i had asked you to do a little research on the five areas you have listed down on the internet. I hope you did it because in this step, you should select the one thing from the five that has little competition on the internet or that you think you can offer a better service than those that are currently available. After selecting one, select a domain name for it. What is a domain name? It is like a license plate for your car, it is a unique address that you use on the internet that directs people to your website or blog. You should also get a host for your website or blog. This is the place that holds your website or blog on the internet. I also advice you to get a valid business name and register it physically in your country. as i said above that this is a business like any other, therefore you should also be legally registered in order to avoid hitches in the future. This is an online business with the potential to generate six or even seven figure digit revenues, so you better be prepared well. So, select a business name, select and buy a domain name and hosting account for your business. There are various companies that offer domain name registration and hosting accounts.
If you need help in this area you can email me at cashincomes3@gmail.com.

USES OF CASH BOOKS IN ACCOUNTING

So what are cashbooks used for? Cash books in accounting are used to record both cash transactions received by the business and cash paid out by the business.A cash book has two sides; The debit side and the credit side. Each side of the cash book in accounting has columns for; -Date
-Particular; where you record the products.
-Bank; This is where you record payments made by cheques and receipt of cheques.
-Cash; This is the column where you should record cash received and cash paid out.

Debit side; This is used to record any cash received after which it is posted in the cash column in the cash book. For example if you made sales on a cash basis of goods worth 80,000$, then this will be recorded on the debit side on the cash book. The debit side is also used to record cheques received by the business i.e if a customer pays for goods by cheque worth 120,000$, then this is
recorded on the debit side on the bank column.

Credit side; The credit side is used to record cash and cheques paid for by the business. For example if your fuel costs about 100$ and is used up in a day, then it will be credited or written on the credit side of the cash book.However if the supplies are paid for using a cheque worth 200,000$ then it is recorded on the Bank column of the credit side of the cash book. So what is the importance of a cashbook in accounting anyway? You may ask. Well, a cash book;
1. A cash book helps the business in capturing all the payment and receipt for a particular month or duration.
2. A cash book is used to reconcile Bank statements.
3. A cash book can be used as a reference in accounting during auditing hence it gives evidence that goes a long way in directing the auditors while they are going through your books of account.

I hope this information was helpful. You can always comment below the post if you have any questions.

4 Things you Should Learn About Michael Jackson As an Online Marketer

The sad reality is finally beginning to dawn on us that the indisputable King of Pop Michael Jackson is no longer with us. However we should celebrate Michael Jackson's achievements and his contributions to music and more-so to the genre of pop music. There are various important lessons we can learn from his life and even his death. Here are some of the things i think as an online marketer or even normal man or woman you should learn from Michael Jackson;

1. Michael Jackson was passionate about what he did; This is a very important point to note about him. Michael Jackson often spent countless hours in the studio rehearsing and going over dance routines and various styles of music. In fact when he passed away, he was just from practice, even though he was weak, that didn't stop him. As online marketers or prospective online business men and women, we often want to make money online without first having the passion to do it. Online marketing is just a job like any other and requires the same effort you would put in any other job. The only difference is that in Online marketing you can work on your own schedule and your audience is widened to worldwide status at no more cost. Therefore the first thing we learn from Michael Jackson was that he was very passionate about what he did.

2. Michael Jackson was an icon; I say this because days after his death, the world is still feeling the impact that he made as an artist worldwide and mostly over the Internet. There is a journalist on CNN who said that when Michael Jackson died and most radio stations were playing his music. The songs were put in between the genres that are influencing the American public right now which is hip-hop music, they still sounded like they fit in, even though he made them years ago. His remembrance show that was broadcast live on T.V and over the internet on facebook in collaboration with CNN was the most watched live broadcast ever on the internet and even surpassed that of the inauguration ceremony of Barrack Obama! What do we learn from him being an icon? you may ask. As an online marketer, you should have seen that by now, if you want to make money, you should be always kn owing what various icons in the industry do and where. Source for such kind of information, because you are assured there will always be people who are willing to buy products from them, millions of people!! Imagine what sums of commission you can get from directing people to websites offering these products!

3. The Internet is a vital part of the modern day's human being; Michael Jackson's death has taught us that the internet is an integral part of our society. During the live broadcast on facebook, there were comments being uploaded there every 2 seconds by millions of people across the world!! Twitter also reported that on the day of Michael Jackson's death, of all the twitts that went up that day, two thirds of them were in tribute to Michael Jackson, and they are saying that this is an underestimation. What does this mean to you? It means that as an online marketer, you are at the right place to make money because this is where the society is presently and is obsessed about. If you play your cards right, you could just be the next Internet Millionaire!

4. Affiliating with I-tunes is a very good idea; Even at this moment, Michael Jackson's songs are selling like hot cakes on i-tunes than anywhere else! You can use this information to go and act as an affiliate for i-tunes because most people buy from them on the internet! As an online marketer, you should place yourself strategically as an affiliate of i-tunes and earn commissions from directing people to buy songs from the website. It is a well known company and has had a good reputation with a majority of the population, so if you direct people at the website, the higher the chances of those people buying songs from the website and earning you money!

All that said and done, Rest in Peace Michael Jackson, you were the Best!

ACCOUNTING AND ITS RELEVANCE TO YOU AS AN ENTREPRENEUR

Welcome to this new chapter that I will use to take you through the basics of accounting and its importance to your business. Whether you are just deciding on becoming an entrepreneur or you are just starting your business and have no idea of what to do about your accounts. This is for you!! To start off, I will cover the following topics; • Why should you keep books of accounts? • Which books are you supposed to have in place as an entrepreneur? • What are so special about these books?

Perhaps you may not know that you engage in accounting activities during your daily routine. Why do I say this? We all use accounting methods when we plan on what to do with the money we earn. For example if your monthly salary is 1000 us $, you must have a plan of how much you are going to spend and on what you are going to spend it on. Of course most of us stray away from the plan and give way to a habit known as impulsive buying that is driven by what we see rather than what we planned. You should write it down on a piece of paper and carry it with you on your way to the mall. A simple paper that contains a list of what you want to buy marks the beginning of the process of accounting.Why would you want to keep books of accounts as an entrepreneur/ businessman or woman?

I. To determine whether your business is making a profit or a loss. For example if you are dealing in an online shoe shop and you purchased your stock of shoes at 50,000 $ and other expenses incurred while making the purchases amounted to 10,000 $. If your total sales of your shoes amounted to 80,000 $, then you are then able to calculate and see whether you made a profit or a loss. In this case it would be a profit of 20,000 $. This is very important to determine because it will help you decide whether you want to continue with the business or not.

II. Evaluation of assets and liabilities; All businesses must have assets and liabilities. What are Assets? Assets simply mean the possessions of the business, while liabilities mean those amounts which are due or borrowed from other persons. e.g.; a loan from a bank. These assets and liabilities are used to prepare a statement of financial position or in other words a balance sheet. A balance sheet or a financial position is always required by banks and other financial institutions before they approve your loan application. The government also uses it for tax assessment. If you also wish to sell your business, then the prospective buyers also request for this document.

III. A tool of control; it enables you to control various expenses. You can analyze the books of accounts and eliminate unnecessary expenses hence your profit is maximize.

IV. To facilitate the credit transactions; as the business grows, you will see such a rapid increase in transactions such that you cannot master them all in your mind hence the need for accountancy.

HOW TO GET A RAISE IN SALARY

It may sound like an uphill task. I agree, it is! Getting a raise in salary during an economic recession is not as easy as 1,2,3, but it is quite achievable i tell you. Try and incorporate some of the tips that i am going to list below in your routine. Try them out and see, you may just be one of the lucky few who get a raise in salary at this time of great economic distress. They are;

I. Be punctual when reporting to work; This may sound simple, but you will be surprised to see that when major companies are caught between deciding who to cut off or lay off from the organization, it may just boil down to this fact if all of you are highly competitive employees.

II. Work smart, not hard; We as human beings tend to think that the harder we work, the more gains or benefits we get from what we do. While this may be true in certain circumstances, history has proven this wrong by showing us that most of the well to do people that we describe as billionaires of our societies actually work smart. Get yourself achievable targets and finish them way beyond the deadline. This will make you look like a reliable employee.

III. Focus on the Quality of the work you do and not the Quantity; We often as employees like to pick a heavy load to do so that we can show off to our bosses that we can handle such a heavy load. This is a sure way to get yourself fired!! This is because when you select an overwhelming task to perform, you often end up with a lot of loose ends that you didn't focus on because you were too busy doing something else. However if you pick the right number of tasks to do and focus on the quality of the work you do, you will end up with satisfied clients who will always recommend you to your boss. Therefore even if the Boss wanted to lay you off, he/she cannot because you will have proven to be a valuable resource to the company.

IV. Be confident in yourself; It is surprising at how some of us are not confident in ourselves. We are always seeing ourselves as not good enough to do a specific task or not qualified enough to do them. Get such thoughts out of your head because these will do nothing but just make you inefficient in your job and may deny you a salary raise. Start believing in yourself and even if you don't at first. In the morning, start speaking out words like '' i can do it!', 'i am the best employee in the world'. These may look insignificant at first, but try and see if after a month you still feel the same way about yourself as you did before you tried it.

V. Document your contributions to the company; You should always have a file where you place a record of what you have done for the company. This will also help you in determining your worth in a company and if need be, help you in calculating how much more your employer should give you besides what you are getting at the moment.

Try these out and see what happens, i will be giving you more tips as i come across them.

FINANCIAL SUPERHIGHWAY

I just came across an article that was highlighting the construction of various highways in a country called Kenya that is found in Africa. After reading the article, i started thinking to myself about the Internet and how it is regarded as an information Superhighway and has further developed as a financial Superhighway.

Why do i say this? I say this because the Internet has witnessed the emergence of many millionaires and billionaires than any other industry has generated. This has been because it was centered on the fact that everybody needs some kind of information. If this information is placed in a central location where anybody in the world that has connection to it can access it, then voila, you can make money just like that at the comfort of your own home!!

Think about it, Bill Gates,Larry and Serge are just a few examples of the billionaires made from the Internet or Financial Superhighway. The millionaires are many more and most of them are unknown due to the vast dynamics of the infrastructure found on the Internet. Therefore just as a physical road can give rise to various investments such as shops, malls and other real estate related products, the Internet is an information Superhighway that has given rise to various cash generating activities!

Whether it is the sale of goods and products for delivery to the people who order for them via your website worldwide or just generating traffic from the valuable information you provide for reference to anybody who may need it, right down to just gossip about our various celebrities down at Hollywood and other Movie Industries. The opportunities are endless and are as vast as the ocean!!

E-TOURISM

 There is a new way of marketing that is proving to replace the old methods of marketing tourist destination spots. E-tourism is the new wave that has seen the global tourism revenues go up by 50%, because of digital marketing or rather using the Internet for most of their marketing and advertising solutions. This is in direct contrast to areas such as the East Africa that has still not caught up to this fact and are still getting as low as 2% in terms of tourism revenues.

How comes such revenues can be generated over the Internet? You may ask. This is all possible because the Internet uses cost effective methods of advertising as opposed to the way things used to be done, or are still done in various countries that is the use of glossy brochures, using print and TV advertising and attending trade fairs all over the world in order to promote your respective tourism destination spots.

Various countries in Africa have changed the way that they promote their countries by employing various techniques on the Internet. This is a useful tool because it opens up your marketing campaign directly to the consumer at the other end of the world without you necessarily having to incur additional costs. Countries like South Africa for example have successfully seen an increase of their yearly tourist influx because of such techniques as using websites such as you-tube to post their videos and social networking sites that are based on tourism. The people who benefit from these are the people that have websites on-line and market various tourist destinations on their websites for a fee. There are people who make as much as 2 million $ a year from this style of marketing!!

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