Get Your Company FIT & Your Bottom Line FAT

Issue #4 - November 2004     



In This Issue...
  • Article:  Borrow Like the Big Boys
  • Coach's Corner:  The Top 10 Words that Entrepreneurs Use Which Limit Their Success   
  • Tip of the Month: Avoid Those Nasty Errors of Omission

Borrow Like the Big Boys

Do you dream about owning your own building, but balk at the high down payment your banker requires? And once you have the building, are you concerned about how to pay for renovations and soft costs and still have enough working capital left over? Well, you can get a loan to buy that building and land at rates and terms (including 10% down) more like a large corporation would pay. It’s possible by using the SBA’s 504 Loan program, one of the Fed’s best-kept secrets...continued

The Top 10 Words that Entrepreneurs Use
Which Limit Their Success
- by Thomas J. Leonard
1.  When I..
Uh huh

2.  If I can do x, then Y will result... 
Big if
3.  It should...  
Yeah, it should, but WILL IT?
4.  I could... 
Yes, but WILL YOU?
5.  If I could just... 
Nah, it ain't that easy
6.   Done deal...  
It ain't really done until the client's check has been cashed and      the services/goods have  been delivered
7.   We're very close...
Close to what, reality? Dream on
8.   If only...
If only pigs fly
9.   If you'd just support me...
Support yourself
10.   No one understands what I am trying to do...
Very likely, but that means you're really an entrepreneur. If      they DID understand, you wouldn't have much to offer, then,      would you?

About the Author
This Top 10 list was created by Thomas J. Leonard, founder of Coachville. Thomas, who died in February 2003, specialized in coaching entrepreneurs around the world. You can learn more about Thomas and his work by visiting his website. Thomas added a personal note when he created this list: “My snide comments are meant to be funny, not disrespectful.”

Tip of the Month: 
Avoid Those Nasty Errors of Omission

Before the Christmas season really hits, hold your annual meeting now with your professional advisors - benefits planner, insurance agent, tax advisor, and attorney – preferably with them all in the same room. Talk about issues relating to year-end 2004 taxes, then review your benefits plan, estate planning issues, and liability exposure for 2006. Use our handy Errors of Omission checklist to prepare. You'll find one in the Evaluating Business Risks section in our FIT software. Not a FIT owner? You can download a
fully functional evaluation version and complete the checklist during your trial usage.

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