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Tracking Revenue by the Day

One of the ways that a home business owner can tell if he or she is on track and sticking to budget projections is to track income or revenue by the day. While this may add a little bit of administrative time to your daily schedule, it can help you see if you are making the most of your work time. Tracking revenue by the day can serve several purposes and can work for you in a variety of ways. It helps if you have set a monthly goal so that you can break that goal down into a daily … Continue reading →

Standardize What Works Well

Do you ever feel like you are reinventing the wheel with your home business or at least that you forget what worked so great for you last month and have to relearn it? I find that, especially with tasks and activities that do no occur daily (maybe things you only have to do once a year–like taxes), it is easy to figure out a great system and then forget it in the interim until you have to do it again. Even though your business is likely small–if you have something that is working well, it might make sense to standardize … Continue reading →

What to do About Copy Cats?

They say that imitation is the sincerest form of flattery, but when it comes to your home business, you might not take so kindly (or be so flattered) by someone who is copying your operation. Whether it is your products or your services, or your logo, web site, etc. having someone else come along and try to copy or imitate what you are doing can be an aggravation and a challenge. It is important to differentiate between copying and theft. If someone actually “lifts” content, photos, etc. from your web site–that is really theft and not being a copy cat. … Continue reading →

Backing Up Computer Records

It used to be a common worry for people as to what might happen if the computer “broke down.” Many of us were trained to back up our computer records on floppy disks and keep them in safe places. More and more, I think we generally feel more complacent and are less likely to consistently back things up and worry that all could be lost even though computers still crash and information can be impossible to retrieve. I do think, however, that for a home business it can still be a good idea. If you keep your financial records on … Continue reading →

Protecting Yourself During a Legal Separation

My last article focused on the aspects of a legal separation. Many couples think that they can just move apart and be legally separated. However without the proper papers filed, you are not protected. A legal separation is a must if you feel that the divorce or separation may get ugly or difficult. It can help give the two of you guidelines to live by so neither partner is taken advantage of during the separation. In the article, I also began noting some precautions that one should take when undergoing a legal separation. This article will offer more advice on … Continue reading →

Moving On to Different Stages

I realized the other day that I have been operating my home business for over two years. If I throw in the 3 years a half-decade ago when I ran my own consulting firm out of my home as well, I really cannot consider myself a beginner. That came as a bit of a surprise to me—I think it can be pretty common for us to get “stuck” in a certain stage with our businesses and not realize when it is time to move on… When does our business go from a struggling start-up to an adolescent company? How do … Continue reading →

When the Dust Settles and Rebuilding Begins

If there is only one good thing about the recent wildfires in Southern California, it may be that the majority of homeowners and many renters will be insured for their home and personal possessions. The most basic homeowner and renter insurance policy covers for the peril of fire. When there is a widespread disaster it may take a little longer to settle the claims with the insurance company, and it may be difficult to find all of the materials, equipment and people needed to get everything rebuilt and repaired. Resources may be limited, and victims of a widespread disaster often … Continue reading →

Dealing with the Office Psychopath

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The corporate psychopath is fast becoming recognized as a toxic force in the workplace. Although psychologically they are classified under the category of Narcissistic Personality Disorder, these business bullies go by the common name of Corporate Psychopath. Let’s look at some examples. Charles is a typical corporate psychopath. He holds a senior position at a major university and displays all the hallmarks of the corporate narcissist. One of his PhD students discussed a new theory based on some of the data that she had been collecting over a period of months. Charles then later recanted her idea as his own, … Continue reading →

Understanding Meeting Expenses

One of the categories of business expenses that can be tracked and deducted on your taxes has to do with business meetings. This can be meetings you attend that involve clients, customers, vendors, or even conferences and workshops you attend. In order to include these expenses as a deduction, you need to keep accurate records and the meetings have to be related to your home business. Travel to the meetings can be deducted—but you’ll need to check with your accountant or tax professional to find out the exact details of what can and can’t be deducted. Usually, the first “run” … Continue reading →

What You Should Know About Receipts

Sometimes, it’s not enough just to “keep track” of business expenses in a spread sheet or log, it is normally a good idea to keep evidence for your business expenses and this usually means receipts. Here is some basic information that you should know about saving receipts for your home business– Many banks no longer send out your actual cancelled checks. Even though this is no longer the norm, you should still save copies or records of checks that you write. Many banks now send out a photo copied record of “mini-checks” and this should be part of the receipts … Continue reading →