Beginning

This is the moment of embarking.
All auspicious signs are in place.

In the beginning, all things are hopeful. We prepare ourselves to start anew. Though we may be intent on the magnificent journey ahead, all things are contained in the first moment: our optimism, our faith, our resolution, our innocence.

In order to start, we must make a decision. The decision is a commitment to daily self- cultivation. We must make a strong connection to our inner selves. Outside matters are superfluous. Alone and naked, we negotiate all of life's travails. Therefore, we alone must make something of ourselves, transforming ourselves into the instruments for experiencing the deepest spiritual essence of life.

Once we make our decision, all things will come to us. Auspicious signs are not a superstition, but a confirmation. They are a response. It is said that if one chooses to pray to a rock with enough devotion, even that rock will come alive. In the same way, once we choose to commit ourselves to spiritual practice, even the mountains and valleys will reverberate to the sound of our purpose.

(Deng Ming-Dao)

Only those who dare to fail greatly can ever achieve greatly.

Robert F. Kennedy

Positioning

Heron stands in the blue estuary,
Solitary, white, unmoving for hours.
A fish! Quick avian darting;
The prey is captured.

People always ask how to follow Tao. It is as easy and natural as the heron standing in the water. The bird moves when it must; it does not move when stillness is appropriate.

The secret of its serenity is a type of vigilance, a contemplative state. The heron is not in mere dumbness or sleep. It knows a lucid stillness. It stands unmoving in the flow of the water. It gazes unperturbed and is aware. When Tao brings it something that it needs, it seizes the opportunity without hesitation or deliberation. Then it goes back to its quiescence without disturbing itself or its surroundings. Unless it found the right position in the water's flow and remained patient, it would not have succeeded.

Actions in life can be reduced to two factors; positioning and timing. If we are not in the right place at the right time, we cannot possibly take advantage of what life has to offer us.

Almost anything is appropriate if an action is in accord with the time and place. But we must be vigilant and prepared. Even if the time and the place are right, we can still miss our chance if we do not notice the moment, if we act inadequately, or if we hamper ourselves with doubts and second thoughts.

When life presents an opportunity, we must be ready to seize it without hesitation or inhibition. Position is useless without awareness. If we have both, we make no mistakes.

(Deng Ming-Dao)

Life Is ...

"Life is a game of cards. The cards are shuffled and the hands are dealt. You must play your cards well" -- Eugene Hare

"Life is a play. It's not its length, but its performance that counts." -- Seneca

"Life is a B-picture script." -- Kirk Douglas

"Life is something like a trumpet. If you don't put anything in, you won't get anything out." -- W.C. Handy.

"A life is a simple letter in the alphabet. It can be meaningless. Or it can be part of a great meaning." -- Jewish Seminary

"Life is a daring adventure, or nothing." -- Helen Keller

"Life is an onion. You peel it off one layer at a time, and sometimes you weep." -- Carl Sandburg

"Life is what's happening while you're thinking about something else." -- AA saying

O God, give us serenity to accept what cannot be changed, and courage to change what would be changed, and wisdom to distinguish the one from the other.

Dr. Reinhold

Each day I learn more

Each day I learn more Than I teach;
I learn that half knowledge of Another's life
Leads to false judgment;
I learn that there is surprising kinship In human nature;
I learn that it's a wise father who Knows his own son;
I learn that what we expect we get;
I learn there's more good than evil in This world;
That age is a question of spirit;
That youth is the best of life
No matter how numerous the years;
I learn how much there is to learn.

Company Financial management from the small firm is distinguished, in several different cases, by the necessity to confront a
somewhat different set of issues and opportunities than those faced by a massive corporation. 1 immediate and obvious difference
is that a vast majority of smaller firms do not normally have the chance to openly sell issues of stocks or bonds so as to raise
capital. The owner-manager of a smaller company must rely mostly on trade credit, bank financing, lease financing, and personal
equity to fund the company. One, hence faces a much more severely restricted pair of funding choices than those confronted by the
monetary vice president or treasurer of a large corporation.

On the other Hand, if small business financial management is concern, many financial issues facing the small firm are extremely
like those of larger businesses. For example, the investigation required for a long-term investment decision like the purchase of
heavy machinery or the evaluation of lease-buy options, is essentially the exact same whatever the size of the company. When the
choice is made, the financing choices available to the business might be radically different, but the decision process will be
generally comparable.

One area of Particular concern for the smaller business owner is in the effective management of working capital. Net working
capital is defined as the difference between current assets and current liabilities and is frequently thought of as
the"circulating capital" of the enterprise. Deficiency of management in this vital area is a primary cause of business failure in
both small and large firms.

The Business Enterprise Manager must always be alert to changes in working capital accounts, the reason behind those changes and
the consequences of these changes for the fiscal health of the corporation. 1 convenient and efficient method to underline the
crucial managerial requirements in this area would be to see working capital in terms of its important components:

Cash and Equivalents. This most liquid type of present assets, cash and cash equivalents (usually marketable securities or
short-term certification of deposit) requires constant supervision. A well planned and maintained money budgeting system is
imperative to answer key questions such as: Why is your money level sufficient to satisfy current expenses as they come due? What
are the timing connections between cash inflows and outflows? When will summit cash needs occur? What's going to be the size of
bank borrowing required to meet any cash shortfalls? So when will this borrowing be necessary and if may repayment be anticipated?
Accounts Receivable. Virtually all businesses must extend credit to their customers. Crucial issues in this field include: Is the
amount of accounts receivable reasonable in relation to earnings? On the average, how rapidly are accounts receivable being
accumulated? Which customers are"slow payers?" What actions should be taken to rate sets where required?Inventories.Inventories often make up 50 percent or even more of a firm's current assets and so, are deserving of close scrutiny.
Key questions that must be considered in this area include: Is the level of stock reasonable concerning sales and the operating
features of the small business? How rapidly is stock turned over in relation to other companies in precisely the exact same
industry? Isn't any funds invested in dead or slow moving stock? Are sales being lost as a result of inadequate inventory levels?
If appropriate, what actions ought to be taken to increase or reduce inventory?

Accounts Payable and Trade Notes Payable. In a company, trade credit often provides a major source of financing for the firm. Key
issues to investigate in this category include: Why is the sum of money owed to providers reasonable concerning purchases? Is the
firm's payment plan such that it will enhance or detract from the company's credit score? If accessible, are reductions being
taken? Which will be the timing relationships between payments on accounts payable and set accounts receivable?Notes Payable. Notes payable to banks or other creditors are a second major source of funding for the company. Significant
questions in this course include: What is the amount of bank borrowing employed? 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 those
obligations in time?

Accrued Expenses and Taxes Payable. Accrued expenses and taxes payable represent responsibilities of the firm as of the date of
balance sheet preparation. Accrued expenses represent such things as salaries payable, interest payable on bank notes, insurance
premiums payable, and similar products. Of main concern in this region, particularly with regard to taxes payable, is the
magnitude, timing, and availability of funds for payment. Careful planning is required to insure that these duties are met in
time.

As a final Notice, it's important to realize that even though the operating capital accounts above are recorded separately, they
need to also be viewed in total and from the point of view of the connection to one another: what's the general trend in net
operating capital? Is this a healthy trend? Which person balances are liable for this trend? How does the company's working
capital position relate to similar sized firms in the business? What can be done to fix the trend, if needed?

Of course, the Questions posed are a lot easier to ask than to answer and you will find few"general" replies to the problems
raised. The manuals which follow provide hints, techniques, and guidelines for effective management that, when tempered with the
experience of the person owner-manager along with the distinctive requirements of the particular sector, may be expected to
enhance the ability to manage effectively the financial resources of a company enterprise.

There is one Simple reason to understand and observe business financial planning in your business - to avoid failure. Eight of ten
new businesses fail primarily due to the lack of good financial planning.

Company Financial preparation affects how and on what terms you'll have the ability to pull the funding required to establish,
maintain, and expand your company.

Financial Planning decides the raw materials you can afford to purchase, the products you will be able to create, and whether or
not you will have the ability to sell them efficiently. It affects the physical and human tools you will have the ability to get
to operate your business. It'll be a major determinant of whether or not you will have the ability to make your hard work
profitable.

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

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

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