through our series of lessons
BUSINESS CAN BE TRANSFORMED
Learn how your business can be transformed into a thriving and successful enterprise through our series of lessons designed to help Salt Lake City business owners understand how to manage their finances effectively. Take away the knowledge of the experts.
Business Alchemy Lesson 1–Introduction
What lead do you have weighing down your business and preventing your success? Years ago, it was believed that through the artistic process of manipulating the structure of lead, the dull and lifeless mass could be turned into gold. This process of changing matter was referred to as alchemy and was, perhaps, the beginning of modern chemistry. Science has since proven that, through a very expensive, scientific process, lead can
Business Alchemy Lesson 2–Upgrading from a Compact Car to a Luxury Car
Why are numbers important outside of requesting loans from banks and preparing taxes? The answer to this question is vast, but I would like to use an analogy to summarize the answer to this question. Would you rather travel across the country in a compact car or a luxury vehicle? I certainly hope your answer is the luxury vehicle, because if not, I wonder if you are being honest with
Business Alchemy Lesson 3–Does My Asset Look Good in This?
What are the positives of your business? I say positives because with the exception of some Capital accounts, the accounts that add positive value to your company are asset accounts. Assets are things that you own and are valuable to your company and its operations. Assets can be tangible items like a computer, car, salon chair or cash. They can also be intangible like accounts receivable and goodwill. Goodwill includes
Business Alchemy Lesson 4–Heated Leather Seats
What are the negatives of your business? Your Assets are, for the most part, your positives and your Liabilities are, for the most part, your negatives. Your Liabilities are basically what you owe. Back to the car analogy, your shiny exterior is your Assets and the interior components are your Liabilities. A luxury car is going to go to extreme lengths to make sure your interior is very comfortable and
Business Alchemy Lesson 5–Making Your Business Go Places
What is under the hood of your business? Freedom is without argument the foundation for the American Dream. The easy access to capital has led many Americans to achieve their greatest dreams here in America. Capital is the private financing of a business and, in essence, the whole reason that businesses exist. Without the lure of profit, there would be little reason to begin a business. Altruism can only carry