Search Results for: blog keep an eye on financial risk

One Eye on the Future

I do not know about you and your home business, but for me and mine—I get totally consumed with what is right in front of my face. Some days I spend so much time just focusing on the details that by the end of the day, I look back and wonder what I have actually accomplished on the grand scale of things. I know that it helps in terms of planning and growth to keep at least one eye focused on the future. I’ve written before about the importance of long-term planning or at least some form of planning for … Continue reading →

Can You Really Handle The Risk? (And How to Minimize It)

I just want to state the obvious right up front–starting a small business is risky. Even a tiny, little, home-based business can be risky to one’s finances, personal life, and career. That said, many of us still want to do it more than just about anything. It can be helpful to evaluate whether or not we can really handle the risk associated with starting a home business and look at ways to minimize that risk, if possible. Starting a home based business can be risky in several ways–financially, it can mean letting go of a steady income and putting all … Continue reading →

Keep an Eye on Financial Risk

Yes, running a business IS about making money…and, yes, it does take some spending of money to make money…and, yes, there is an element of financial risk in just about everything we do in our home businesses—but that doesn’t mean that we shouldn’t keep an eye on the financial risks that do present themselves and try to keep that risk to a manageable minimum. What constitutes financial risk? Well, you will want to keep an eye on the expenses, or course, but you will also want to keep an eye out for areas where you are considering growth or expansion … Continue reading →

Summer Crime Prevention

We talk a lot about saving money and earning money for financial freedom, but today I want to address loss prevention, that is, preventing your hard-earned possessions from being stolen. According to our county police department, robbery and home crime goes on the rise in the summertime. There are a number of reasons for this. Families go on vacation, leaving homes unattended, older kids are out of school and may want to cause some mischief in the form of vandalism, people are more relaxed and often leave doors and garages unlocked. You may have a thief watching your home right … Continue reading →

Bouncing Back from Bad Credit

A bad credit rating can have multiple aspects of your life if you are not careful. While most people are well aware that a bad credit score can make it impossible to secure a loan, there is also a litany of other negatives associated with a dismal credit report. For example, even if you are able to secure a loan from a financial institution, if you have bad credit, you will likely be forced to pay a much higher interest rate. In some cases you may also be hit with fees because lenders consider you a risk. In addition to … Continue reading →

Letting People Help

If you are anything like me, you may be getting used to going it alone when it comes to your home business. While some of us are working on building a “family” business and have spouses, children, etc. who are participating in our home-based business, others of us are pretty much running our businesses all on our own. We might actually be pretty isolated and very much a one-person-show. This doesn’t mean that we shouldn’t and can’t accept some help from others here and there, however… There might be people in your world who would love to help you with … Continue reading →

Planning a Sales Party or Workshop? Consider Offering Childcare

I recently received a flyer for a large international conference. Although I was impressed with the slick program and information, what really jumped out at me was that the conference planners were offering child care. The flyer stated that if a registrant or participant needed child care they would need to call in advance and there would be a fee, but child care would be available. I couldn’t help but think what a great idea! And it got me to thinking about those of us who might be operating our own consulting or direct sales businesses from our homes and … Continue reading →

Understanding Profit Centers and Cost Centers

Periodically, I try to share some business education information that might help in operating and growing your home business. Many of us come to our own home businesses without much of an understanding of business basics at all—just a lot of drive, determination and passion. Not to mention a genuine interest in having our own small business. One thing that may be helpful to understand is the difference between a “profit center” and a “cost center” as it relates to a small business. In simplistic terms, a “profit center” is an element of your business that generates revenue and profit. … Continue reading →

Generational Curses

Are they real? Yes they are and it is so important when contemplating sin to understand consequences that can surpass the moment inflicting pain on future generations. We can read about the first generational curse in Genesis upon Adam and Eve’s consumption of the forbidden fruit. Although the curse from that still remains in labor and physical death, by our Lord’s grace and mercy, in accepting His gift of salvation, we can be spared eternal spiritual death (separation from God). We see stories throughout the Bible of curses affecting generations that are perhaps examples that God allowed to be shared … Continue reading →