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Day: June 2, 2016

25 Examples of Finance Key Performance Indicators (KPI s) for Small Business

Key Performance Indicators (KPI s) help businesses of all sizes from a small business or SME to a much larger company or organisation define and measure progress toward business goals.

KPI s are quantifiable measurements, agreed at the outset, that reflect the critical success factors of a business or organisation. They will differ from business to business.

KPI s are a critical tool in helping to ensure a business is focused on achieving its desired goals.

There are many examples of KPI s but it is important to recognize that they will vary from business to business and will depend on the specific objectives of a business at a given point.

Finance related examples of KPI s may include any of the following 25 examples of KPI s which is not an exhaustive list:

  • Accounts Receivable Collection Period
  • Cash Flow Return on Investments (CFROI)
  • Cost Income Ratio
  • Cost per payslip issued
  • Creditor days
  • Cycle time to process payroll
  • Cycle time to resolve an invoice error
  • Debtor days
  • Direct costs
  • EBIT
  • Fixed costs
  • Gearing
  • Invoicing processing costs
  • Number of invoices outstanding
  • Number of overdue invoices
  • Percentage of bad debts against invoiced revenue
  • Percentage of financial reports issued on time
  • Percentage of invoices disputed
  • Percentage of invoices under query
  • Profit per customer
  • Profit per employee (FTE)
  • Profit per product
  • Profit per project
  • Return on capital employed (ROCE)
  • Return on Equity (ROE)

There are literally hundreds of KPI s that may or may not be applicable to your enterprise. The key is to identify the ones that a critical to the success of your enterprise.

KPI s are a very valuable performance management tool for sole traders and SMEs through to larger companies and international organisations. Sadly, the need for the use of KPI s is not as understood as it should be in SMEs so therefore are not used as often as they should be.

Small business or SME owners need not be afraid to embrace the use of Key Performance Indicators as there are a number of business to business consultant resources that are there to help a SME develop and identify a dashboard of the most relevant KPIs for their operations so that there is a true understanding of what drives the underlying profit performance which therefore increases the likelihood that an owner will be successful in meeting the stated goals and objectives for that enterprise. Knowledge is power as they say and monitoring KPI s provides that vital knowledge.…

Understanding H2O At Home: Can You Really Make Money With H2O At Home?

H2O At Home is a direct sales company founded in 1997. They started off in France and opened shop in the USA in 2009. They offer clean, non-toxic, eco-friendly related products for a variety of purposes. Additionally, they offer a business opportunity for entrepreneurs looking to making an income marketing their company or its products.

The Thing:

H2O At Home offers natural home care, organic personal care, and natural home fragrance. They provide products using their “3 E Concepts”, Efficient, Eco-Friendly, and Easy To Use. Their products are not only designed to be effective, but more importantly safe! Therefore, no more fretting over your child potentially being able to get a hold of the harmful chemicals in your household!

  1. Natural Home Care – They have several home care related products in this category but overall it is designed to save you money, ban toxic-chemicals, give you the ability to clean with water and their non-toxic chemicals, use less product to get the job done, make the cleaning process faster and easier, and includes only natural ingredients. Such items included are their Cleaning Clay Kit for things like ceramic or ovens, Lime-scale remover, Purifying Laundry Power, and many others.
  2. Organic Personal Care – This category includes Facial Care, Body and Hair Care, and Microfiber Bath Towels and Accessories all with 100{4917788a0bd7aa7369c2a945027b4fe6c9853cda4150a24fe1255b18ce3083dc} natural and organic ingredients.
  3. Natural Home Fragrance – All the products in this category are made with 100{4917788a0bd7aa7369c2a945027b4fe6c9853cda4150a24fe1255b18ce3083dc} natural essential oils to provide a safer home while saving you money. Items included are Aroma-therapy, Scented Extracts, Essential Oil Diffusers, and many others!

The Opportunity:

The question still remains; can you really make money with H2O At Home? In order to answer this question accurately, we need to look into their Compensation Plan, which is awesome fun and exciting!

It appears that there are 4 ways you could start making money with H2O At Home such as Personal Sales, Team Members Sales, Bonuses, and Rewards. I will briefly explain them below!

  1. Personal Sales – You are able to profit 25{4917788a0bd7aa7369c2a945027b4fe6c9853cda4150a24fe1255b18ce3083dc} to 40{4917788a0bd7aa7369c2a945027b4fe6c9853cda4150a24fe1255b18ce3083dc} commission from all of your personal sales.
  2. Team Members Sales – With this payout, you can receive 10{4917788a0bd7aa7369c2a945027b4fe6c9853cda4150a24fe1255b18ce3083dc} of your personally enrolled down-line members’ sales.
  3. Bonuses – They offer a Fast Start Bonus, eligible for new members for their first 60 days to earn up to $400 in rewards or personally enrolling someone into your team.
  4. Rewards – This isn’t necessarily a payout, however, you could earn 10{4917788a0bd7aa7369c2a945027b4fe6c9853cda4150a24fe1255b18ce3083dc} to 15{4917788a0bd7aa7369c2a945027b4fe6c9853cda4150a24fe1255b18ce3083dc} of your product sales in free product. That’s right, free!

To Conclude, Yes, You Can Make Money With H2O At Home!

The Cost:

For some, this is the most important question before joining H2O At Home or any company like this! It’s important to remember, however, that all businesses require some type of start-up fee! However, in this industry, it is generally much cheaper to get started then it is in a traditional business that could cost around $30,000 to start!

In order to get started with H20

Difference Between Employers’ Liability Insurance (ELI) and Workers Compensation Insurance (WCI)

Employers’ Liability Insurance (ELI) and Workers Compensation Insurance (WCI) are two important insurance covers to protect the interests of employees, as well as employers. There are, however, certain differences between the two. Due to these differences, it may result in wrongful litigation and consequently anxiety to parties involved. The differences between ELI and WCI are relating to where they apply and what they cover. We will discuss about them here briefly.

Where they apply

Employers’ liability insurance

As an employer, it is mandatory for you in UK to purchase employers’ liability insurance. Not purchasing attracts penalty under law. In certain situations your employees may feel that you are liable for job related illness/injury which they may sustain and they sue for this. If it is really a case, it may bring in expenses such as hospitalization, financial compensation and the like. ELI helps you under such circumstances.

While it is mandatory for you as an employer to have ELI, your employees need to prove that the job related injury/illness is because of your negligence. Imagine yours is a lumber business. While working, your employees should have the necessary equipment, training and skills to operate them. If you employ them without teaching the safety norms, imparting the training and checking the fitness, and they sustain injuries, it will amount to your negligence as per rules framed under Employers’ Liability Insurance Act and employees are likely to feel appropriate to sue you, because you are liable.

Workers compensation insurance

On the other hand, workers compensation insurance is a cover for the welfare of the employees. It depends on the circumstances that are the tone of relation between employer and employees. Thus, if you are more concerned about employees’ health and safety, you need to purchase this insurance. It does not matter whether it was your fault or your employees’ fault that resulted illness, accident or death, this insurance comes to your help.

Coverage

Employers’ liability insurance

As an employer, you have to go to court of law if the affected employee sues you. You need to pay financial compensation and bear the hospitalization and medication. ELI covers all these expenses.

Likewise, for employees ELI covers the permanent and temporary disability, injury and wrongful death at workplace. It covers the cost of litigation as well.

Workers compensation insurance

For employers, WCI is a Good Samaritan. In most cases, it ensures that your employees do not resort to litigation. However, in such unfortunate event, WCI covers the expenses because of litigation. It covers the financial expenses to be given to the affected employee for work-related injury, illness or even death.

Employees when inured at workplace, under WCI, are guaranteed to get compensation from the employer to cover medical and hospitalization expenses and certain portion of wages. In most cases, it is two-thirds or more. WCI covers the expenses on litigation, by the employee. In general, WCI takes care of the situation and makes sure that litigation on the part of employees is avoided.

WCI …

Personal Trainer Business Values To Live By

As a fitness trainer there are 10 personal trainer business values you should live by. The most successful fitness pros master each of these 10. Therefore, I highly recommend you incorporate each of these into your fitness business.

When you conduct business with a new client you must talk about expectations. Not only expectations of them, but also for you the personal fitness trainer. Failure to do so will start the client-trainer relationship off on the wrong foot.

I highly recommend you instill 10 core values into your personal trainer business. Doing so will show not only greater professionalism, but also improve communication between you, and your personal training client.

10 Personal Trainer Rules To Live By

1. Be the best you can be.

Always strive to improve your fitness knowledge by investing both time, and money into additional personal fitness trainer knowledge.

2. Be accountable.

Hold your personal training clients accountable. Contact them regularly in order to help them stay focused on their goals.

3. Be kind to all of your personal trainer business clients.

It is important to treat each client fairly. Treat every client like they are your best client.

4. Be prompt.

As a professional you must be respectful of your clients time. Create certainty in the minds of your fitness clients by being prompt all the time. Show professionalism, and respect.

5. Be flexible.

Constantly strive to alter your personal training business clients program in order to yield the best results. Certain fitness programs may not work best for a particular client. It is your job to be flexible, and find out what does.

It is also important to be patient with each client. Be flexible!

6. Be present.

As a true fitness professional you must devote 100{4917788a0bd7aa7369c2a945027b4fe6c9853cda4150a24fe1255b18ce3083dc} attention, at all times, to your paying clients. The session is about them, and not you. Focus fully on the client.

7. Be fit.

You are an extension of your personal trainer business. It is your job to practice what you preach, and stay fit. Set a good example for your fitness business clients. Remember, you are your own walking billboard of health and fitness. Be your best.

8. Be fun.

Being fun means training personal training clients with energy. Bring your A -game to each session. Be motivating, and inspiring. Your enthusiasm is contagious!

9. Be fair.

Don’t show favoritism to certain clients. Treat all personal trainer business clients fairly.

10. Be creative.

Don’t give your clients the same workout over, and over again. Change things around. Be creative. Doing so will keep clients motivated, and interested.

If you are interested in running a highly profitable personal trainer business, then following all 10 of these core fitness trainer values is important. Doing so will separate your services from competitors, and help you profit. Follow the 10 be’s.…

Make Some Easy Money by Buying a Car For $1000 Bucks and Parting it Out

Lots of people turn to cars under $1000 bucks looking save a buck or two. Here is a quick guide on how to make some cash (that you can use to buy more rusty boxes on wheels of course)

Plain and simple part cars out.

Step 1. Buy a car. This is pretty much the most crucial step. If you are actually doing this to make money and not just salvaging that blown up buick sitting in your driveway than you need to find a car that people want to buy parts for. eBay is pretty much your friend here and my suggested avenue for selling most parts. In the past I have watched people make money from a variety of cars (my roommate used to finance his workshop with parted out cars) One in particular was a 1994 Honda Accord. Thats right you don’t need to buy a 1939 Alfa Romeo (although that would be sweet) or anything super rare to get good money for parts.

Often times finding a car that is pretty common can be a good thing but be sure to check eBay for the prices certain parts are going for before hand and let that be your guide in making your purchase. Now when it comes to buying the car usually the ones that don’t run will be your best deals and you may even get a freebie if your lucky. (few people want dead cars in their driveway) Obviously the less you pay the more you profit.

Step 2. Tear it apart. The key here is research and time management. Everybody wants to pull the engine and trans etc., but often times it may not even be worth it. Check out eBay or where ever you plan on selling and ask yourself is what these parts are selling for worth my time? Would I actually want to crate and ship this? Is anybody actually bidding on this crap? All good questions that need answers. Honestly it tends to be the nickel and dime parts that can really make you some money. Shifters, speedometers, sensors, mirrors, sun-visors, etc. these parts take seconds to remove and if they are in good shape people are often willing to pay a pretty penny for them, because the only other option for parts like these tends to be the dealers who charge an arm and a leg.

Step 3. Sell The Parts. Once you have determined what you want to sell and pulled the stuff off its time to start selling. I like eBay but swap meets, forums, and other sources may work better for you. If you have done your research you know where to find the people who see value in the parts you have pulled.

Step 4. Scrap the rest. Always factor in that you can prolly get $100-$300 bucks for the rest of the pile at the scrap yard. Usually you will want to haul it there yourself and will probably need to pull the …