I spent an evening at a master mind group several weeks ago during which the conversation turned to a business opportunity that one of the other members had been presented with. the opportunity to purchase a well known sandwich franchise. This member went on to tell us how the sales rep for the franchise printed a very pretty picture for them and did his job very well. after the sales presentation the member and spouse were nearly ready to sign the contract and get started. Fortunately this couple had the forethought to involve their accountant in this process and after examining the financial statements found that the business was actually loosing money consistently. The couple decided not to purchase the franchise.
When was the last time that you involved your accountant in one of your financial decisions?
By involving their accountant, this couple saved themselves from purchasing a franchise that would have eaten them alive because it kept loosing money.
the next time that you are looking to make a purchase, ask yourself, do i have all of the information I need to make a well informed decision on this, and will this bring me closer to my goal.
for my colleague, the answer to both questions was no. To make sure that they had all of the information necessary, the couple sought help. Once the discovery was made that the franchise was loosing money, the answer to the second question became obvious. knowingly loosing money on an investment was not an intelligent decision for them because it did not bring them closer to the goal of creating more income from their investments.
Remember, before you make a financial decision, get all of the information. if you are not sure that you have all of the information, ask a trusted professional or other person with successful experience doing what you are trying to do.
Finally ask yourself does this take me closer to my goals? Make sure that you have clear and specific goals, or you will not be able to accurately answer this question.
To your dream life style,
Dannielle Fritz-MacDuff
Jade Financial Services & Tax Preparation Inc.
info@jadefinancialservices.com
330.299.0229
Monday, August 20, 2007
Knowlege Reposting
I was discussing success with a colleague the other day and he mentioned that at the root of the word, success simply means to take action. after that discussion I thought that I would re-post this specific article for those of you who missed it the first time around.
Knowledge is NOT Power.
I have often wondered why so many people struggle financially in this day of abundant free information. We have resources on the Internet, libraries are offering more and more programs as well as newer books about any subject that you could imagine, all of which are free. So why is it that so many people struggle or complain about struggling when there are so many sources of free knowledge? After all, knowledge is power, right? Well, not so much. Knowledge in itself does not hold any power, It is the application of that knowledge that unleashes the unstoppable human spirit. Think about this; we all know that eating healthier foods and exercising regularly is key to keeping our bodies and minds healthy, however how many of us really take action on that knowledge. We also know (at least on some subconscious level) that investing our money to make money for us instead of working harder for money is a much better way to pay for our living expenses. Yet the majority of us still work very hard to get our selves into debt that requires us to work harder to pay for those debts. We know that what we are doing is not working all that well for us, but we choose to either not learn more about how to make our money work hard for us or to not take action to change our situation. Knowledge is only the first step to creating wealth, the next step is to take action. So, where do you start? Try the library, you will find free Internet access, books on CD or cassette, videos, DVDs, and of course books, all of which can help you learn more about your money. Next, seek out a professional who specializes in the area in which you are most interested and pick his/her brain, most of the time this can be done for no cost or maybe the cost of lunch. Small price to pay for the knowledge that gives you more options. Finally, TAKE ACTION!! Don't sit around telling your self that you will do something someday. "When I get some extra money" When I have extra time" These scenarios never , and I mean NEVER, happen. There will always be some reason why you can't do something,if you look you will find a reason. If you look a little harder, you will find a reason why and how you can accomplish your dreams. My Grandmother used to say " Danni, If you dig in the ground, you're bound to find dirt". Why dig in the ground for some reason not to make our futures brighter, when the sky is the limit and the pot of gold really is at the end of your rainbow.
From your financial freedom coaches
Dannielle Fritz-MacDuff
Jade Financial Services & Tax Preparation Inc
info@jadefinancialservices.com
33.299.0229
Knowledge is NOT Power.
I have often wondered why so many people struggle financially in this day of abundant free information. We have resources on the Internet, libraries are offering more and more programs as well as newer books about any subject that you could imagine, all of which are free. So why is it that so many people struggle or complain about struggling when there are so many sources of free knowledge? After all, knowledge is power, right? Well, not so much. Knowledge in itself does not hold any power, It is the application of that knowledge that unleashes the unstoppable human spirit. Think about this; we all know that eating healthier foods and exercising regularly is key to keeping our bodies and minds healthy, however how many of us really take action on that knowledge. We also know (at least on some subconscious level) that investing our money to make money for us instead of working harder for money is a much better way to pay for our living expenses. Yet the majority of us still work very hard to get our selves into debt that requires us to work harder to pay for those debts. We know that what we are doing is not working all that well for us, but we choose to either not learn more about how to make our money work hard for us or to not take action to change our situation. Knowledge is only the first step to creating wealth, the next step is to take action. So, where do you start? Try the library, you will find free Internet access, books on CD or cassette, videos, DVDs, and of course books, all of which can help you learn more about your money. Next, seek out a professional who specializes in the area in which you are most interested and pick his/her brain, most of the time this can be done for no cost or maybe the cost of lunch. Small price to pay for the knowledge that gives you more options. Finally, TAKE ACTION!! Don't sit around telling your self that you will do something someday. "When I get some extra money" When I have extra time" These scenarios never , and I mean NEVER, happen. There will always be some reason why you can't do something,if you look you will find a reason. If you look a little harder, you will find a reason why and how you can accomplish your dreams. My Grandmother used to say " Danni, If you dig in the ground, you're bound to find dirt". Why dig in the ground for some reason not to make our futures brighter, when the sky is the limit and the pot of gold really is at the end of your rainbow.
From your financial freedom coaches
Dannielle Fritz-MacDuff
Jade Financial Services & Tax Preparation Inc
info@jadefinancialservices.com
33.299.0229
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