I Dream BusinessI Dream BusinessWe just love business and marketing, so we talk about it. We talk about our thoughts, hopes, dreams, ideas, sytems, plans, and rants. Let us know your thoughts... Articles
Financial IQ #8
2007-08-25 16:02:00 net sales DefinitionGross sales minus returns, discounts, and allowances. More About: Financial , Fina
Financial IQ #7
2007-08-24 16:02:00 Revenue Definition 1 For a company, this is the total amount of money received by the company for goods sold or services provided during a certain time period. It also includes all net sales, exchange of assets; interest and any other increase in owner?s equity and is calculated before any expenses are subtracted. Net income can be calculated by subtracting expenses from revenue. In terms of reporting revenue in a company's financial statements, different companies consider revenue to be received, or "recognized", different ways. For example, revenue could be recognized when a deal is signed, when the money is received, when the services are provided, or at other times. There are rules specifying when revenue should be recognized in different situations for companies using different accounting methods, such as cash basis and accrual basis.Definition 2 For the government, the increase in assets of governmental funds that do not increase liability or recovery of expenditure. This re... More About: Financial , Fina
Financial IQ #6
2007-08-23 17:48:00 Liability DefinitionAn obligation that legally binds an individual or company to settle a debt. When one is liable for a debt, they are responsible for paying the debt or settling a wrongful act they may have committed. For example, if John hits Jane's car, John is liable for the damages to Jane's vehicle because John is responsible for the damages. In the case of a company, a liability is recorded on the balance sheet and can include accounts payable, taxes, wages, accrued expenses, and deferred revenues. Current liabilities are debts payable within one year, while long-term liabilities are debts payable over a longer period. More About: Financial , Fina
The Issue of Time
2007-08-23 05:15:00 While reading Small is the New Big, by Seth Godin, more specifically his article on "Relax...., I Mean, Work on the Difficult"; I realized the real issue of why time management is so hard and how to overcome the impossible.Our efforts to control time, and its delegation towards "top priorities", doesn't always correlate with real life events. We often find ourselves caught up in the immediate urgency of the present. Emergencies tend to pop up unexpectedly and our attention naturally focuses on the current issue at hand. Companies are continually expecting more hours from there employees to make up for unexpected complexities or snags in projects or services rendered. Business owners and entrepreneurs work late into the night to either stay afloat or outrun there competitors.Is this the way business should be conducted? Is this the only way to be successful in an evermore fast paced environment? Could it be possible that these unexpected shifts of time delegation, be related t... More About: Books , Time , Challenge , Issue
The Issue of Time
2007-08-23 05:15:00 While reading Small is the New Big, by Seth Godin, more specifically his article on "Relax...., I Mean, Work on the Difficult"; I realized the real issue of why time management is so hard and how to overcome the impossible.Our efforts to control time, and its delegation towards "top priorities", doesn't always correlate with real life events. We often find ourselves caught up in the immediate urgency of the present. Emergencies tend to pop up unexpectedly and our attention naturally focuses on the current issue at hand. Companies are continually expecting more hours from there employees to make up for unexpected complexities or snags in projects or services rendered. Business owners and entrepreneurs work late into the night to either stay afloat or outrun there competitors.Is this the way business should be conducted? Is this the only way to be successful in an evermore fast paced environment? Could it be possible that these unexpected shifts of time delegation, be related t... More About: Books , Time , Challenge , Issue
Make it available to the masses...
2007-08-22 17:49:00 The more people that we can help with a single product, service, idea, or system, the more profit will be available. I'm saying this with a true heart for people, not allowing capitalism to be put ahead of the individual.Let's take rental properties as an example. We can provide homes for individuals to rent out, solving one persons needs at a time, or we can provide apartment complexes for a mass of individuals, allowing us to help multiple people at one time. The obvious advantage from providing housing to more people at one time is the initial gain in profit, but that is just the beginning if it is done with the right heart. If we are developing ways to help more people, it is a well deserved reward to get additional profit from this type of thinking.When someone crosses into the extreme capitalist side, losing the individuals, that is when they become a slumlord. (Not in every instance) The slumlord's priorities are not for the individuals needs or wants, the slumlord's foc... More About: Challenge , Make , Available
Make it available to the masses...
2007-08-22 17:49:00 The more people that we can help with a single product, service, idea, or system, the more profit will be available. I'm saying this with a true heart for people, not allowing capitalism to be put ahead of the individual.Let's take rental properties as an example. We can provide homes for individuals to rent out, solving one persons needs at a time, or we can provide apartment complexes for a mass of individuals, allowing us to help multiple people at one time. The obvious advantage from providing housing to more people at one time is the initial gain in profit, but that is just the beginning if it is done with the right heart. If we are developing ways to help more people, it is a well deserved reward to get additional profit from this type of thinking.When someone crosses into the extreme capitalist side, losing the individuals, that is when they become a slumlord. (Not in every instance) The slumlord's priorities are not for the individuals needs or wants, the slumlord's foc... More About: Challenge , Make , Available
Financial IQ #5
2007-08-22 17:44:00 Asset DefinitionAny item of economic value owned by an individual or corporation, especially that which could be converted to cash. Examples are cash, securities, accounts receivable, inventory, office equipment, real estate, a car, and other property. On a balance sheet, assets are equal to the sum of liabilities, common stock, preferred stock, and retained earnings.From an accounting perspective, assets are divided into the following categories: current assets (cash and other liquid items), long-term assets (real estate, plant, equipment), prepaid and deferred assets (expenditures for future costs such as insurance, rent, interest), and intangible assets (trademarks, patents, copyrights, goodwill). More About: Financial , Fina
Financial IQ #5
2007-08-22 17:44:00 Asset DefinitionAny item of economic value owned by an individual or corporation, especially that which could be converted to cash. Examples are cash, securities, accounts receivable, inventory, office equipment, real estate, a car, and other property. On a balance sheet, assets are equal to the sum of liabilities, common stock, preferred stock, and retained earnings.From an accounting perspective, assets are divided into the following categories: current assets (cash and other liquid items), long-term assets (real estate, plant, equipment), prepaid and deferred assets (expenditures for future costs such as insurance, rent, interest), and intangible assets (trademarks, patents, copyrights, goodwill). More About: Financial , Fina
Network Contacts...
2007-08-21 15:13:00 In order to have good network contacts, what is needed? Do we need to personally know them? Should we do a favor for these contacts before we ask something of them? Does a network contact know that in your relationship that is their role? Is there anything wrong with that?`chais More About: Network , Contacts
Network Contacts...
2007-08-21 15:13:00 In order to have good network contacts, what is needed? Do we need to personally know them? Should we do a favor for these contacts before we ask something of them? Does a network contact know that in your relationship that is their role? Is there anything wrong with that?`chais More About: Network , Contacts
Financial IQ #4
2007-08-21 15:11:00 Balance SheetDefinitionA quantitative summary of a company's financial condition at a specific point in time, including assets, liabilities and net worth. The first part of a balance sheet shows all the productive assets a company owns, and the second part shows all the financing methods (such as liabilities and shareholders' equity). also called statement of condition. More About: Financial , Fina
Financial IQ #4
2007-08-21 15:11:00 balance sheetDefinitionA quantitative summary of a company's financial condition at a specific point in time, including assets, liabilities and net worth. The first part of a balance sheet shows all the productive assets a company owns, and the second part shows all the financing methods (such as liabilities and shareholders' equity). also called statement of condition. More About: Financial , Fina
Financial IQ #3
2007-08-19 19:02:00 capital Definition 1 Cash or goods used to generate income either by investing in a business or a different income property.Definition 2 The net worth of a business; that is, the amount by which its assets exceed its liabilities.Definition 3 The money, property, and other valuables which collectively represent the wealth of an individual or business. More About: Financial , Fina
Financial IQ #3
2007-08-19 19:02:00 Capital Definition 1 Cash or goods used to generate income either by investing in a business or a different income property.Definition 2 The net worth of a business; that is, the amount by which its assets exceed its liabilities.Definition 3 The money, property, and other valuables which collectively represent the wealth of an individual or business. More About: Financial , Fina
Financial IQ #2
2007-08-18 21:41:00 entrepreneur DefinitionAn individual who starts his/her own business. More About: Financial , Fina
Financial IQ #2
2007-08-18 21:41:00 Entrepreneur DefinitionAn individual who starts his/her own business. More About: Financial , Fina
The Black Swan
2007-08-17 18:32:00 Tom Peters shares his thoughts on how A Black Swan Moment has impacted our society through political perspectives, financial models, and personal confidence. We live our daily lives assuming the world around us will maintain a certain level of consistency, in relation to our current level of knowledge, without considering possible Black Swan events creeping up on our familiarized environment.What can we do about these Black Swan moments? We can't ignore or avoid them. Instead we must change our way of looking at things. We must reorganize our way of relying on assumptions, based on past experience, and anticipate the unknowns of the future. Instead of looking at past history as fixed data (something we have conquered), view experiences as variable, leaving room for new techniques and strategies. What areas do you see as potential danger zones for invisible Black Swans? What can we do to prepare ourselves adequately for these unexpected events? How can we use them towards ou... More About: Challenge , Lack
The Black Swan
2007-08-17 18:32:00 Tom Peters shares his thoughts on how A Black Swan Moment has impacted our society through political perspectives, financial models, and personal confidence. We live our daily lives assuming the world around us will maintain a certain level of consistency, in relation to our current level of knowledge, without considering possible Black Swan events creeping up on our familiarized environment.What can we do about these Black Swan moments? We can't ignore or avoid them. Instead we must change our way of looking at things. We must reorganize our way of relying on assumptions, based on past experience, and anticipate the unknowns of the future. Instead of looking at past history as fixed data (something we have conquered), view experiences as variable, leaving room for new techniques and strategies. What areas do you see as potential danger zones for invisible Black Swans? What can we do to prepare ourselves adequately for these unexpected events? How can we use them towards ou... More About: Challenge , Lack
Now that is marketing...
2007-08-17 15:43:00 I never really thought of it before...When the Nissan Xterra first came on the market, I absolutely loved it. I didn't love it because it was just another standard SUV. I loved it because it was an SUV that was "Xtreme". But there had to be more than that, what was it...So, I started thinking about what made the Nissan Xterra an Xtreme car, and I came up with one solid thing. Nissan did something that no other car company has done, they focused on injuries, and doing things that are so "Xtreme" that they might require medical attention. That brings us to the introduction of the "first aid kit" built into the SUV. This "first aid kit" wasn't just included with the SUV as an accessory or something that you could have extra. No, this first aid kit was actual the topic this car revolved around. The back of the SUV (on the hatch), was designed with a 10"x9"x3" opening built for this first aid kit. There was absolutely no reason for someone to like this back gate design (a bulge on t... More About: Marketing
Now that is marketing...
2007-08-17 15:43:00 I never really thought of it before...When the Nissan Xterra first came on the market, I absolutely loved it. I didn't love it because it was just another standard SUV. I loved it because it was an SUV that was "Xtreme". But there had to be more than that, what was it...So, I started thinking about what made the Nissan Xterra an Xtreme car, and I came up with one solid thing. Nissan did something that no other car company has done, they focused on injuries, and doing things that are so "Xtreme" that they might require medical attention. That brings us to the introduction of the "first aid kit" built into the SUV. This "first aid kit" wasn't just included with the SUV as an accessory or something that you could have extra. No, this first aid kit was actual the topic this car revolved around. The back of the SUV (on the hatch), was designed with a 10"x9"x3" opening built for this first aid kit. There was absolutely no reason for someone to like this back gate design (a bulge on t... More About: Marketing
Financial IQ #1
2007-08-17 15:30:00 I have not always been interested in finances, but I know that to be successful in business, we need to have a good financial IQ. Without it, we wont be able to mind our money and become financial leaders in our organizations. I am going to put one financial word/phrase on this blog every day. If you are interested in learning about finances, check back in daily and we will have a new word followed by a definition. #1adventure capitalistDefinitionAn entrepreneur who helps other entrepreneurs financially, and often plays an active role in the company's operations (such as by occupying a seat on the board of directors). More About: Financial , Fina
Financial IQ #1
2007-08-17 15:30:00 I have not always been interested in finances, but I know that to be successful in business, we need to have a good financial IQ. Without it, we wont be able to mind our money and become financial leaders in our organizations. I am going to put one financial word/phrase on this blog every day. If you are interested in learning about finances, check back in daily and we will have a new word followed by a definition. Adventure CapitalistDefinitionAn entrepreneur who helps other entrepreneurs financially, and often plays an active role in the company's operations (such as by occupying a seat on the board of directors). More About: Financial , Fina
The Complete 2007 Personal MBA Recommended Reading List (Business Books)
2007-08-17 00:00:00 This is a complete (printable) and fully linked list.Business schools don?t have a monopoly on worldly wisdom. If you're serious about learning advanced business principles, the Personal MBA can help. The Personal MBA recommended reading list is the tangible result of hundreds of hours of reading and research, and features only the very best books the business press has to offer. So skip the fancy diploma and $150,000 loan - you can get a world-class business education simply by reading these books.QuickStart1. 10 Days to Faster Reading by Abby Marks-Beale2. StrengthsFinder 2.0 by Tom Rath3. The Personality Code by Travis BradberryPersonal Effectiveness4. The Effective Executive by Peter Drucker5. Ready For Anything by David Allen6. The Simplicity Survival Handbook by Bill Jensen7. The Dip by Seth Godin8. Cut to the Chase by Stuart Levine9. On Writing Well by William Zinsser10. Bit Literacy by Mark Hurst11. The Path of Least Resistance by Robert Fritz12. The Little Green Book of Ge... More About: Books , List
The Complete 2007 Personal MBA Recommended Reading List (Business Books)
2007-08-17 00:00:00 We did have a fully printable list on our blog, but we removed it to respect Josh Kaufman (the creator of the PMBA Recommended Reading list).If you would like a fully printable list, please go to the link provided here.http://personalmba.com/recommended-b usiness-books/We thank Josh for all of the time and hours of reading it took to develop this list.`the Three Dot Team More About: Personal , Business , Books , List
What is it?
2007-08-16 18:00:00 What makes one person hate a product and another person love a product? I think the first thing that comes to my mind, is of course, personal preference. Second, could be a number of different things: I realize people right now might be thinking (if the product worked or not, if it met my needs, if it was worth the price, was the entire experience good or bad.. and so on). For me, I think it comes down to this: did the company meet my expectations? After all, isn't the company the one responsible for everything that happens good or bad? Think about that... If a company of any type (food, clothing, toy, automobile), developed a product or service and it worked the way you wanted it to, until you ended up replacing it, would you be happy with the product and the company? It is when these products or services from a company didn't meet your expectations, that you decide you no longer like this product and sometimes the company. What would happen if a company that made you dissatisf... More About: Challenge
What is it?
2007-08-16 18:00:00 What makes one person hate a product and another person love a product? I think the first thing that comes to my mind, is of course, personal preference. Second, could be a number of different things: I realize people right now might be thinking (if the product worked or not, if it met my needs, if it was worth the price, was the entire experience good or bad.. and so on). For me, I think it comes down to this: did the company meet my expectations? After all, isn't the company the one responsible for everything that happens good or bad? Think about that... If a company of any type (food, clothing, toy, automobile), developed a product or service and it worked the way you wanted it to, until you ended up replacing it, would you be happy with the product and the company? It is when these products or services from a company didn't meet your expectations, that you decide you no longer like this product and sometimes the company. What would happen if a company that made you dissatisf... More About: Challenge
More on 'Exclusivity and Low Quantities...'
2007-08-13 19:47:00 Consider this:A restaurant accepts limited guests per year and is open once every quarter (Spring, Summer, Fall, Winter) , maybe 25 guests per quarter. Cooks are brought in from several different countries and prepare a unique dish that they have perfected over the years. Guests could reserve a seat in advance (first come first serve), by referral only, and would be given a menu containing the limited entries (5 or so). It would be entirely exclusive.It wouldn't be your typical fine dining. No, this would be an exclusive event, set aside for those with a particular status. Consider the advantages the owner would have in this type of market. It wouldn't be for everyone but that's the point.`David More About: Dream
More on 'Exclusivity and Low Quantities...'
2007-08-13 19:47:00 Consider this:A restaurant accepts limited guests per year and is open once every quarter (Spring, Summer, Fall, Winter) , maybe 25 guests per quarter. Cooks are brought in from several different countries and prepare unique dish's that they have perfected over the years. Guests could reserve a seat in advance (first come first serve), by referral only, and would be given a menu containing the limited entries (5 or so). It would be entirely exclusive.It wouldn't be your typical fine dining. No, this would be an exclusive event, set aside for those with a particular status. Consider the advantages the owner would have in this type of market. It wouldn't be for everyone but that's the point.`David
Exclusivity and Low Quantities...
More articles from this author:2007-08-13 18:29:00 What would happen if a random company, department, or business chain were to offer products that were a limited quantity (a real limited quantity, not like Reeses coming out with a limited peanut butter and banana candy bar that is all over the US). Would they be able to sell the products at higher margins or be able to control what time of day people came in their stores by stocking the products only at certain times. Supply and demand is an amazing thing, certain products are more expensive because there are less of them or they are located in fewer locations. But why?Could a business survive if they were open only half the time of their competitors, and they offered products that were limited quantity and exclusive to them? It would have to be an extremely solid product. But, if the quality was there, I would be tempted to go and spend more money to have something different, something that very few people have.What could be one SD (supply and demand) thing that you can do/sell ... 1, 2, 3 |
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