Profit Mastery Workshops for Jewelers
and When Should You Think About your Company's
in the House
- Tip of the Month:
and When Should You Think About Your Company's Value
There are many reasons you'd want or need to have your business valued. You
might need a valuation as part of your estate and gift tax planning. A change
in ownership might dictate an update for a new buy-sell agreement. Some banks
require them as part of getting a new loan or re-structuring an existing loan.
A valuation could be used as part of litigation support in the event of
partnership dispute or divorce.
There are many different ways to come up with a value. The IRS states that
"a sound valuation will be based upon all relevant facts… common sense,
informed judgment, and reasonableness." That's a big help, isn't it? (continued)
Elephant in the House
Remember the commercial that aired about 10 years ago for a chain of
alcohol treatment centers? It showed a real elephant crashing around a tiny living room.
The gist of the message was that having an alcoholic in the family was like having an elephant in the house. Everyone talks
|around the elephant, thinks that
everyone else knows about the elephant and hopes that someone else
will do something about it. (continued)
Tip of the
Month: Debit or Credit?
Did you know that there's
a big difference in cost to you, the merchant - if your customer chooses credit over debit? A credit transaction can be as
high as 3% of the sale, versus $1 per transaction for debit. So next time a customer
whips out their card, have a pin pad available to encourage a debit transaction.
Be sure to train your staff to encourage debit transactions as well. Follow up with them
periodically to ensure they don't revert back to the old
automatic, "Do you want to this to be debit or credit?" at the end of every
Mastery Performance Groups for
Pharmacy Owners and
to improve your bottom line, BRS Profit Mastery Groups
work! Our members are taking their businesses to a new
level. Get peer support, focused meetings, and
help in making and keeping goals. Find out if you're
ready by taking our Profit Mastery assessment
Over 97% of the people who attend our workshops say they've
substantially increased their understanding of the health, strengths and
weaknesses of their companies. Change the way you manage your
business, increase your cash flow, and find profits you never knew
Calendar of Events
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Let FIT do the "what-if" so you won't do
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the guesswork out of pricing your products.
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Great Management Tool!
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