The Business of Budgeting your Business…

The Business of Budgeting your Business

A budget? So, who needs a budget? You do-that’s who.

Unlike the government we actually need to balance our checkbooks. A budget allows you to identify spending habits, and allows your business (or personal) to make necessary adjustments and changes.

       Don’t just be in business to stay in business-be in business to grow your business

There are many areas to delve into for a complete business plan, for practical purposes we will stick to budgeting and a few essentials.

Check list: All of this and more inside my 16-award winning book:

“the sexy little book of finance III” 2 books in one-Personal & Business

  • Your budget should be on a spreadsheet in excel or another format so you can update.
  • Personal budget and Business information should be part of your routine.
  • Make copies of all serial numbers of vehicles, laptops, cell phones, or any other important information of equipment.
  • Copies of any operators or employees who have access to any equipment, vehicles, should have their drivers license and insurance so you have the information and can check any expiration dates.
  • Credit card numbers, expiration dates, and all employees who assigned a card
  • Record of all policies or contracts
  • Starting inventory and ending inventories (daily, weekly, monthly, and annually) or as deemed appropriate for your business model
  • Bank loans, all financial information stored & backed up daily on a private server or encrypted cloud program
  • ADD your own categories.

You should have a full marketing plan (in writing), websites with SEO search, game plan how are you going to market your product or services – internet-seminars-mailers-email campaigns-workshops-etc. If you are looking for money from a bank or lending institution all this will be necessary. Everybody thinks they can apply and get approved in 15 seconds with 3 little questions and nothing else to provide…SORRY, little things like bank statements, tax returns, personal financial statements (free on our website) just to mention a few things. You can see what else may be required on our website.

Now back to budgeting…

 

 

 

Month _________________                      Beginning Cash Balance $ __________________________

Category                                 Estimated Budget             Actual               Difference

Revenue/1099                         _______________           _______________      _______________

Accounts Receivable               _______________         _______________      _______________

Investment Income                 _______________         _______________      _______________

Interest Income                       _______________         _______________      _______________

Other                                       _______________           _______________      _______________

Total Actual Income:          _______________                                           _______________

EXPENSES

Rent/Lease                              _______________          _______________      _______________

Loans                                       _______________          _______________      _______________

Accounts Payable                    _______________        _______________      _______________

Inventory Purchase                 _______________        _______________      _______________

Equipment Purchases             _______________       _______________      _______________

Office Supplies                        _______________         _______________      _______________

Cell Phones                              _______________         _______________      _______________

Advertising                              _______________         _______________      _______________

Printing                                   _______________          _______________      _______________

Postage                                   _______________           _______________      _______________

Payroll                                     _______________          _______________      _______________

Payroll Taxes                           _______________        _______________      _______________

Health Insurance                     _______________       _______________      _______________

Repairs/Maintenance             _______________        _______________      _______________

Automobile Expense               _______________       _______________      _______________

Gas/maintenance                   _______________          _______________      _______________

Auto Insurance                        _______________         _______________      _______________

Business Insurance                 _______________        _______________      _______________

Accounting fees                      _______________         _______________      _______________

Retirement contributions        _______________      _______________      _______________

Web hosting                            _______________         _______________      _______________

Other                                       _______________          _______________      _______________

Total Actual Expenses $ _________________________

Income_____________ minus Total Expenses_____________= Ending Balance_______

This does not post correctly…see it on our blog

Be Prepared-Be Informed-Be Successful

The last time I got instant gratification – I got food poisoning

https://lendingcapital.net

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EQUIFAX – 143 Million breached half the US population…ouch

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Equifax with 143 million breached has created a national epidemic – and you will be 11 X more likely to have your identity stolen because of this. 

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 Give us a little information: birthdate, SSN, email, etc. 

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WE ALERT 

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WE RESTORE 

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We’ll reimburse funds stolen due to identity theft up to the limit of your plan. 

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As business you are a primary target, the average cost of a breach is around $100,000 per location! You need to add a level of protection that safeguards your employees, your business, and your clients. There are no hard costs to you the employer as it is a voluntary benefit-and IRS has approved as a non-taxable voluntary benefit. 

Our program offers a 15% discount (already built in the pricing on our website) 

We are SSL Certified-Malware Scanner-Google Blacklist-and McAfee protected. 

https://lendingcapital.net 

Frank J. Eberhart, CEP®, RFC®, Author 

 

Hack city- 43% targeted small business

Watch this video: https://vimeo.com/185391179

We are a corporate and individual agency for LifeLock Agency # C1A464

For more information and applications visit our website: http://www.lendingcapital.net

In 2015, there were over 1 million web attacks against people a day. Out of that staggering number, 43% targeted small businesses. With larger companies beefing up their cybersecurity measures, small businesses have become attractive targets for hackers. Owners should be concerned the average cost of a data breach for a small business merchant is between $36,000 and $100,000.

Common-sense solutions and general awareness of cybercrime techniques can greatly reduce your business’s vulnerability to cyberattacks.

  • Install Antivirus Software
    The best ways to steer clear of viruses and malware are to use an industry-leading anti-virus software solution. There are many options out there, do not install multiple anti-virus software as they can counter react and defeat the purpose. If you already have good antivirus software, make sure the auto-update and firewall options are turned on.
  • Back Up Your Files
    Symantec reports that ransomware—a method of using encryption to hold critical data hostage for money—increased 35% in 2015. Updating your web applications can help prevent an attack, but it’s important to regularly back-up important files just in case.
    To minimize the impact of a ransomware attack is to immediately disconnect the infected machine(s) from the network, reinstall the operating system and restore from your last good backup copy.
  • Email & Downloads
    Email scams are becoming ever more sophisticated. Spear phishing, for example, is an email that appears to be from an individual or business you know, designed to trick you into revealing personal info.
    It’s important for you and your employees to be wary of anything coming into your inbox. “Never click a link or open an attachment that you did not expect to receive. If you’re not expecting something or must think twice about the contents, don’t open it. Second step is to call and confirm from the sender
  • Install Software & Operating System Updates
    Pop-up reminders to update your web browser or operating system (like Windows or OS) may seem annoying, but don’t ignore them. “Ensure operating systems and applications are always fully patched with the latest security fixes. Updates will help protect you from cyberattacks.
  • Use Strong Passwords                                                                                                                            Weak passwords are an invitation for hackers. Don’t make the mistake of using         simple passwords, using the same password for multiple accounts. And you should change your passwords every 60 to 90 days.Businesses should invest in complex password policies for all their employees. These do not have to be too complex, but they should include a minimum of 10 characters, upper case letter, lower case letter, number and symbol. In addition, all businesses should incorporate some sort of identity theft software for their employees as well, this protects everybody.
  • Use Secure Encrypted Systems to Accept Card Payments
    Never photocopy, hand write, electronically key-in to a terminal, or manually copy credit card information. This is a common practice for orders over the phone, consider a secure online payment system like PayPal to accept transactions. If your systems are compromised, keystroke loggers and other hacking tools can scrape the manually entered information for later attacks.
    In addition, make sure you’ve upgraded to the latest point-of-sale equipment for in-person purchases, many of the POS systems today are using older technology and operating systems like Windows XP that are no longer supported, this leaves you completely vulnerable to attacks.
  • Don’t Bank Over Unsecured Wi-Fi
    Wi-Fi connections at coffee shops, airports and other public places are convenient, but they aren’t secure. Never log into your online banking profile on an unsecured network—it’s all too easy for someone to steal your information that way. Look for little devices with generally 2 antennas sitting next to someone’s laptop or computer, this is called a pineapple, be aware.
    If you are a road warrior and are using public Wi-Fi, invest in a VPN service to secure your transmissions
  • Secure Physical Devices Storing Sensitive Data
    Don’t forget that sensitive data can be physically stolen as well. Computers and drives with private business or customer information should be protected. Assume somebody will steal them and plan accordingly. So, no leaving your computer in the front seat of your car, desk, or anywhere that is accessible to the public, employees who do not have proper clearance, and ALWAYS password protect all your devices, cell phones, laptops, computers, Ipad’s.
  • Train Employees & Yourself
    When it comes to cybersecurity, your actions are more important than any technology. If you have employees, hold regular training to make sure they’re aware of company IT policies, and how to avoid email scams and other types of cyberattacks. Practice what you preach, if you don’t it could put you out of business!

http://www.lendingcapital.net

 

VIP POS System Overview

  • Customizable Software  Open API (3rd party integrations) Hardware With Optional add-ons POS Systems
  • FREE Lifetime Hardware Warranty With Next Day Replacement
  • FREE 24/7 VIP Technical Support
  • FREE Online Reporting From Anywhere
  • FREE Paper
  • FREE Installation
  • FREE Training
  • Breach insurance available
  • PCI compliance fee only $89/year
  • The base package will include the following:
  • POS Elite System
  • Cash Drawer Receipt Printer Keyboard and Mouse 10 Employee Cards
  • Caller Id
  • Barcode Scanner
  • Kitchen Video Systems
  • And More

*FREE Lifetime Hardware Warranty – All hardware replacements will be shipped next day    at no cost

  • Access your sales reports right on the POS system or remotely
  • Add, edit or remove menu items, screen categories, modifiers and modifier categories
  • Track labor and manage employees
  • View statements, chargebacks and deposits
  • Utilize the internal messaging system
  • View “how-to” demonstration videos and quick reference guides right on the POS system

Communicate with the technical support department through the live chat feature

  • VIP “white glove” priority service – From the time the account is submitted, through programming, installation and ongoing support
  • FREE 24/7 technical support
  • FREE 24/7 customer service
  • FREE remote support – The support team can log in to your system to remotely to instantly repair any software issues you may experience

 

  •  Onsite Installation – Experienced and certified installation professionals ensure you are up and running
  • Comprehensive Training – Preliminary onsite training and extensive remote training to make sure you are proficient
  • Certified Tier 3 Technicians – Highly trained techs and supervisors to provide a superior experience EVERYTIME
  • Convenient Scheduling – We work around your schedule to complete the installation, avoiding any business disruptions

 

  • Our Elite POS Systems are shipped with end-to-end encryption compatible card readers.
  • PCI Compliance is ONLY $89 a year.

Should non compliance occur, we will waive your obligation to pay up to $50,000 worth of non compliance related fines, levy’s, and assessments incurred as a result

Includes unlimited PCI System Scans

Ripoff Report Verified™ REVIEW: Harbortouch POS Systems/First Data/Global/Paymentech

Editor’s UPDATE: Positive rating and recognition has been given to Harbortouch for its commitment to excellence in customer service.

Ripoff Report’s discussions with Harbortouch have uncovered an ongoing commitment by the company to total client satisfaction. This means that clients can expect that the company will work towards finding a mutually satisfactory resolution to any complaints or concerns. Harbortouch listens carefully to client concerns and sees them as an opportunity to learn from past mistakes and become more efficient as a company in the services offered and the support for those services.

A BBB Accredited Business since 8/28/2007

BBB has determined that Bank Card Systems, Inc. meets BBB accreditation standards, which include a commitment to make a good faith effort to resolve any consumer complaints. BBB Accredited Businesses pay a fee for accreditation review/monitoring and for support of BBB services to the public.

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Frank J. Eberhart, CEP® RFC® Author 973-479-2558 http://www.lendingcapital.net