Every great achievement was once impossible.

Anonymous

Fair Fighting

Generally we think of fights as unpleasant confrontations between two or more people where tempers flare, voices are raised, and angry insults are exchanged. Fights need not be this way. They are normal and necessary in most relationships, but dirty, unfair fights only result in bitterness, distrust, and feelings of revenge.

Clean, fair fights, on the other hand, are confrontations where disagreements and grievances are dealt with according to a specific set of rules. At the end of a fair fight most people feel refreshed and relieved because a sensitive issue has been settled in a constructive way.

The following rules must be observed when conducting a clean, fair fight:

No hitting below the belt -- purposely calling attention to known weaknesses or sensitive areas.

No false agreements -- pretending to go along or to agree when you don't.

No character analysis or psycho-analyzing -- telling a person what they are thinking, feeling, or why they acted as they did.

No stereotyping -- labeling or name calling.

No gunny sacking -- saving up minor grievances and dumping them all at once rather than dealing with them one at a time as they occur.

No playing archaeologist -- digging up past happenings.

Don't generalize -- using statements such as "You always ..." or "You never ..." to describe a person's behavior.

Stick to the issue -- dealing with only one issue at a time.

Don't drop "the bomb" -- over-reacting to a situation and making idle threats; giving an ultimatum.

Avoid "round robin" fights -- continuing with repetitive, stale arguments where no progress is being made toward conflict resolution.

The purpose of arguments and conflict is to resolve difficulties or solve problems, not to assign blame or to find fault. Do not keep score. Do not lecture. Differentiate between behavior and being. Treat everyone with regard and respect. Do not judge the perceptions and feelings of others. Accept differences. And don't forget the best part of all fights -- making up afterwards. Making up is an essential part to complete resolution.

I can give you a six-word formula for success: "Think things through - then follow through."

Edward Rickenbacker

A Start

Each day, I promise myself not to try to solve all my life problems at once -- nor shall I expect you to do so;

Starting each day, I shall try to learn something new about me and about you and about the world I live in, so that I may continue to experience all things as if they had been newly born;

Starting each day, I shall remember to communicate my joy as well as my despair, so that we can know each other better;

Starting each day, I shall remind myself to really listen to you and to try to hear your point of view and to discover the least-threatening way of giving you mine, remembering that we are both growing and changing in a hundred different ways;

Starting each day, I shall remind myself that I am a human being and not demand perfection of you until I am perfect, so you're safe;

Starting each day, I shall try to be more aware of the beautiful things in our world -- I'll look at the flowers, I'll look at the birds, I'll look at the children, I'll feel the cool breezes, I'll eat good food -- and I'll share these things with you;

Starting each day, I shall remind myself to reach out and touch you, gently, with my words, my eyes and with my fingers, because I don't want to miss feeling you;

Starting each day, I shall dedicate myself again to the process of being a lover -- and then see what happens;

You know, I'm really convinced that if you were to define love, the only word big enough to engulf it all would be "Life" -- LOVE IS LIFE -- in all its aspects ... And if you miss love, you miss life !

Please don't !

I complained because I had no shoes until I met a man who had no feet.

Arabic proverb

Company Financial management from the small firm is characterized, in several different instances, by the necessity to face a
somewhat different set of problems and opportunities than those faced by a massive corporation. 1 immediate and obvious difference
is that a majority of smaller firms do not ordinarily have the opportunity to publicly sell issues of bonds or stocks in order to
raise capital. The owner-manager of a smaller company must rely primarily on trade credit, bank financing, lease financing, and
private equity to finance the company. One, hence faces a much more severely restricted set of funding alternatives than those
faced with the financial vice president or treasurer of a massive corporation.

On another Hand, if small business financial management is concern, many fiscal issues facing the small firm are very like those
of larger businesses. By way of example, the analysis necessary for a long-term investment choice such as the purchase of heavy
machines or the test of lease-buy options, is fundamentally the same regardless of the size of the company. Once the decision is
made, the financing alternatives available to the business may be radically different, but the decision procedure will be
generally comparable.

1 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 considered as the"circulating
capital" of the enterprise. Deficiency of control in this crucial area is a key source of business failure in both small and
massive firms.

The Business Enterprise Manager must continually be alert to changes in working capital accounts, the reason behind those changes
and the consequences of those changes for the financial health of the company. 1 convenient and effective method to underline the
key managerial requirements in this area would be to view working capital concerning its major components:

Cash and Equivalents. This most liquid type of present assets, cash and cash equivalents (usually marketable securities or
short-term certificate of deposit) requires constant oversight. A well planned and maintained cash budgeting process is imperative
to answer crucial questions such as: Is your money level adequate to satisfy current expenses as they come due? What are the
timing connections between cash inflows and outflows? When will peak cash needs happen? What's going to be the magnitude of bank
borrowing needed to meet some cash shortfalls? When will this borrowing be required and when will repayment be expected? Accounts
Receivable. Virtually all businesses must extend credit to their clients. Key issues in this field include: Is the number of
accounts receivable fair in relation to sales? On the average, how rapidly are accounts receivable has been accumulated? Which
clients are"slow payers?" What actions ought to be taken to speed sets where required?Inventories.Inventories often make up 50 percent or even more of a firm's current assets and therefore, are worthy of close
scrutiny. Key questions that must be considered in this area include: Why is your level of stock reasonable in relation to sales
and the working features of the business? How quickly is inventory turned over compared to other businesses in precisely the same
industry? Isn't any funds invested in dead or slow moving stock? Are sales being dropped due to inadequate inventory levels? If
appropriate, what actions ought to be taken to increase or decrease inventory?

Accounts Payable and Trade Notes Payable. In a company, trade credit frequently provides a major source of funding for the firm.
Key issues to research in this class include: 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 firm's credit rating? If available, are reductions being taken? What
will be the timing relationships involving payments on accounts payable and set accounts receivable?Notes Payable. Notes payable to banks or other creditors are a second significant source of funding for the company. Significant
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 company? When will principal and interest payments fall due? Will it be available to meet these payments in 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 wages payable, interest payable on bank notes, insurance
premiums payable, and similar products. Of main concern in this area, particularly with respect to taxes payable, is the size,
timing, and availability of funds for payment. Careful planning must insure that these duties are met on time.

As a final Notice, it is very important to realize that although the operating capital accounts above are listed individually,
they need to also be viewed in total and from the perspective of the connection to one another: What is the overall trend in net
working capital? Is this a healthy trend? Which person accounts are responsible for this trend? How can the firm's working capital
position relate to similar sized firms in the business? What can be done to fix the fashion, if necessary?

Obviously, the Questions posed are a lot easier to ask than to answer and you will find several"general" answers to the problems
raised. The guides which follow provide hints, techniques, and instructions for successful management that, when tempered with the
expertise of the person owner-manager along with the unique requirements of the particular sector, might be expected to improve
the capacity to manage effectively the financial resources of a business enterprise.

There is one Simple reason to comprehend and observe business financial planning in your business - to avoid failure. Eight of ten
new businesses fail primarily because of the dearth of good fiscal planning.

Company Financial preparation affects how and on what conditions you'll be able to pull the funding needed to establish, preserve,
and expand your company.

Financial Planning determines the raw materials you'll be able to afford to buy, the products you'll have the ability to produce,
and whether or not you will be able to market them economically. It impacts the physical and human resources you will have the
ability to get to operate your small business. It will be a major determinant of whether or not you will be able to make your hard
work profitable.

This section Provides an summary of the vital elements of financial planning and management. Used sensibly, it is going to make
the reader the small business owner/manager - familiar enough with the fundamentals to have a fighting chance of success in
today's highly competitive business environment.

A clearly Conceived, nicely documented fiscal plan, establishing goals and such as the Use of Pro Forma Statements and Budgets to
ensure financial control, will Demonstrate not only that you understand what you want to do, but you understand how To achieve it.
This demonstration is essential to attract the funds Required by your business from creditors and investors.

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