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BUSINESS FINANCE SIMPLIFIED

When it comes to managing finances, a businessman’s greatest concern is the cash cycle. A tight cash flow can be a real problem. Surprisingly, many business owners fail to anticipate and prevent a cash crunch. Here are some pointers to effectively manage your cash flow: Understand your cash cycle Every business has a cash cycle.…

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It’s All In The Mind

Mental capacity is not the issue, mindset is. With a wrong mindset, our mental capacity diminishes. For example, if we believe in luck, our mind will refuse to grow in knowledge, and life becomes merely a series of events with unpredictable outcomes. We lose control and we become victims. I have met people who believe…

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More Than Just a Cup of Coffee

  When asked what he does, my painter friend, Sherwin Tan, would always say, he brings peace with his art. The answer seems to be far from what he does because the fact is, he is a painter. But then for him, painting is more than just canvas and paint. He pours himself into his…

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Do Not Falter When You Grow Bigger

It is sad when businesses start failing when they get bigger. When do failed businesses usually start their decline? That was the same question I had when I started consulting. Some statistics say that 80% of businesses do not make it beyond the 5th year. There might be lessons we can learn from that observation.…

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HOW TO BE DEBT FREE Part 3: Free At Last

Part III   There must be a good reason why a person wants to get out of debt. Like we said, debt is a tool which in the hands of a good manager will produce good result. Why return the tool if it is doing what it is supposed to do, create additional value. To…

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HOW TO BE DEBT FREE Part 2: Wise and Unwise Debt

Part II: When borrowing is wise and when it is not We have established what a loan is, and that it should be paid back with borrower and lender both winning in the transaction. Now, let us take a look at the different types of loans. Understanding these will help us avoid debt that might…

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HOW TO BE DEBT FREE Part 1: A 3 Part Series

Part 1: The Nature of Debt Let me first be transparent. As a financial consultant, I help businesses borrow money. More than half of my life, I have been helping business people borrow money and I get paid for that. It would seem then that I am the last person who should be answering the…

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PLANNING Part 3: Preparing the Financial Plan

Last Part To a non- finance person, this sounds intimidating. But I am sure you have done financial planning before. When you go to a store to buy something, you knew you have enough money in your wallet. Otherwise you wouldn’t go, right? You had a financial plan. Expand that to an annual plan and…

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PLANNING Part 2: The Financial Plan

Part II We used to have no financial plan at all. Since my income as a self-employed professional was irregular, I would tell my wife and children, when I earn this and that amount, we will buy this or that or go on vacation. We were coasting along, wondering why our finances were always tight…

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