Winners versus Losers

The Winner is always a part of the answer;
The Loser is always a part of the problem.

The Winner always has a program;
The Loser always has an excuse.

The Winner says, "Let me do it for you;"
The Loser says, "That's not my job."

The Winner sees an answer for every problem;
The Loser sees a problem in every answer.

The Winner says, "It may be difficult but it's possible;"
The Loser says, "It may be possible but it's too difficult."

To accomplish great things, we must not only act but also dream, not only dream but also believe.

Anatole France

A Creed to Live By

Don't undermine your worth by comparing yourself with others. It is because we are different that each of us is special.

Don't set your goals by what other people deem important. Only you know what is best for you.

Don't take for granted the things closest to your heart. Cling to them as you would your life, for without them life is meaningless.

Don't let your life slip through your fingers by living in the past or for the future. By living your life one day at a time, you live all the days of your life.

Don't give up when you still have something to give. Nothing is really over until the moment you stop trying.

Don't be afraid to admit that you are less than perfect. It is this fragile thread that binds us to each other.

Don't be afraid to encounter risks. It is by taking chances that we learn how to be brave.

Don't shut love out of your life by saying it's impossible to find. The quickest way to receive love is to give love. The fastest way to lose love is to hold it too tightly; and the best way to keep love is to give it wings.

Don't dismiss your dreams. To be without dreams is to be without hope; to be without hope is to be without purpose.

Don't run through life so fast that you forget not only where you've been, but also where you're going. Life is not a race, but a journey to be savored each step of the way.

Treat people as if they were what they ought to be, and you help them become what they are capable of being

Johann Wolfgang von Goethe

Peak Performer

One of the wonderful by-products of high self-esteem is that you become a "Peak Performer."

Every day you become more aware of your abilities and recognize that opportunities to stretch your capabilities are limitless. You desire change, growth, and challenge, and a healthy self-esteem provides the energy.

Peak performers have more than goals; they have a vision of what their life will mean to themselves and others. Peak performers do not live in the future. Peak performers make sure each step taken in the present keeps them on the road toward their life goal.

Peak Performers Can Say:

I am motivated and have a mission with realistic and measurable goals.

I accept complete responsibility for everything I think, say, feel, and do.

I look for the window of opportunity in every situation and know that I will learn from every experience if I choose.

I always help others to do their best, and I encourage everyone to contribute something.

I correct my course when I reach an obstacle. This way, when things go wrong, I am still headed in the right direction.

I expect and appreciate change. It does not overwhelm me because I am prepared.

I stand up for my own opinions and values and respect others.

I am able to manage myself. I do not require instruction every step of the way.

I am not afraid of making mistakes or of taking reasonable risks.

I am my own coach. I engage in positive self-talk and rehearsal.

I am a life-long student. I am always ready to learn, and I know growth takes sustained effort.

I know myself well and still expect to find hidden talents, resources, strengths, weaknesses, energy, and interests.

I respect reality both pleasant and painful.

I engage in self-confrontation and do not blame others.

I readily forgive others and myself and correct mistakes when possible.

I am patient, kind, gentle, and compassionate with myself.

I have no need to prove I am better or worse than anybody else.

Worry is wasting today’s time cluttering up tomorrow’s opportunities with yesterday’s troubles.

Anonymous

Company Financial management from the business is distinguished, in many distinct instances, by the need to confront a somewhat
different set of problems and opportunities than those faced by a large corporation. 1 immediate and obvious difference is that a
vast majority of smaller firms do not normally have the opportunity to publicly sell issues of bonds or stocks so as to raise
funds. The owner-manager of a bigger company must rely primarily on trade credit, bank financing, lease financing, and personal
equity to finance the company. One, therefore faces a much more severely restricted set of funding alternatives than those faced
by the financial vice president or treasurer of a large corporation.

On another Hand, when small business financial management is concern, many fiscal issues facing the small firm are very similar to
those of larger businesses. For instance, the investigation required for a long-term investment choice such as the purchase of
heavy machines or the test of lease-buy options, is fundamentally the same whatever the size of their firm. When the decision is
made, the funding choices available to the firm may be radically different, however, the decision procedure will be generally
comparable.

1 area of Special concern for the smaller business owner lies in the effective management of working capital. Net working capital
is defined as the gap between current assets and current liabilities and is frequently thought of as the"circulating capital" of
the business. Lack of control in this vital area is a key cause of business failure in both small and massive businesses.

The Business Enterprise Manager must continually be alert to changes in working capital accounts, the cause of those changes and
the implications of those changes for the fiscal health of the company. One convenient and efficient system to underline the key
managerial requirements in this area is to see working capital concerning its major components:

Cash and Equivalents. This most liquid type of current assets, cash and cash equivalents (usually marketable securities or
short-term certification of deposit) requires constant oversight. A well planned and maintained money budgeting system is
imperative to answer crucial questions like: Why is the cash level adequate to satisfy current expenses as they come due? What are
the timing relationships between cash inflows and outflows? When will summit cash needs happen? What will be the magnitude of bank
borrowing required to fulfill some cash shortfalls? When will this borrowing be required and if may repayment be expected?
Accounts Receivable. Almost all businesses are required to extend credit to their customers. Key issues in this area include: Is
the amount of accounts receivable fair in relation to sales? On the average, how quickly are accounts receivable being collected?
Which clients are"slow payers?" What actions ought to be taken to rate collections where needed?Inventories.Inventories frequently constitute 50 percent or more of a firm's current assets and therefore, are worthy of close
scrutiny. Key questions that must be considered within this area include: Is your level of inventory reasonable in relation to
sales and the operating characteristics of the small business? How quickly is inventory turned over compared to other businesses
in the same industry? Isn't any funds invested in dead or slow moving stock? Are earnings being dropped as a result of inadequate
inventory levels? If appropriate, what action ought to be taken to increase or decrease stock?

Accounts Payable and Trade Notes Payable. In a business, trade credit often provides a significant source of financing for the
firm. Key issues to investigate in this category include: Is the amount of money owed to suppliers reasonable concerning
purchases? Is the company's payment plan such it will improve or detract from the company's credit score? If accessible, are
reductions being taken? What are the timing relationships between payments on accounts payable and set on accounts receivable?
Notes Payable. Notes payable to banks or other lenders are another major source of financing for the company. Important questions
in this course include: what's the amount of bank borrowing used? Is this debt amount reasonable in regard to the equity financing
of the firm? When will interest and principal payments fall due? Will funds be available to meet these payments on time?

Accrued Expenses and Taxes Payable. Accrued expenses and taxes payable represent responsibilities of the company as of the date of
balance sheet preparation. Accrued expenses represent these things as salaries payable, interest payable on bank notes, insurance
premiums payable, and related items. Of main concern in this area, especially with respect to taxes payable, is the magnitude,
timing, and availability of funds for the payment. Careful planning is required to insure that these obligations are met on time.

As a final Notice, it is important to recognize that although the working capital accounts previously are recorded individually,
they must also be viewed in total and from the point of view of their connection to one another: What is the overall trend in net
operating capital? Is this a healthy trend? Which individual balances are responsible for this trend? How does the firm's working
capital position relate to similar sized companies in the business? What could be done to correct the trend, if necessary?

Of course, the Questions posed are much easier to ask than to answer and there are several"general" replies to the problems
raised. The guides that follow provide hints, techniques, and instructions for successful management which, when tempered with the
expertise of the person owner-manager and the unique requirements of the specific industry, may be expected to improve the ability
to manage effectively the financial resources of a business enterprise.

There's one Easy reason to understand and detect company financial planning in your company - to avoid failure. Eight of ten new
businesses fail primarily due to the dearth of good financial planning.

Company Financial preparation impacts how and on what terms you'll be able to attract the funding needed to establish, maintain,
and expand your company.

Financial Planning decides the raw materials you can afford to purchase, the products you'll have the ability to create, and
whether you will have the ability to sell them efficiently. It impacts the physical and human tools you'll have the ability to
acquire to operate your small business. It will be a significant determinant of whether you will have the ability to produce your
hard work profitable.

This segment Provides an overview of the essential components of financial management and planning. Used wisely, it is going to
make the reader - the small business owner/manager - comfortable enough with all the principles to have a fighting chance of
success in today's highly competitive business environment.

A clearly Conceived, well documented financial plan, establishing goals and such as the The use of Pro Forma Statements and
Budgets to ensure financial control, will Demonstrate not just that you understand what you want to do, but that you understand
how To accomplish it. This demonstration Is Vital to attract the funds Required by your business from lenders and investors.

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