Hire independent contractors, not employees

 Hiring employees is, so (shall we say) 20th Century.  Employees need health care, social security taxes, state unemployment, sick days, pension plan, life insurance, disability, occupational safety, and more.  A well-trained and loyal workforce also creates huge fixed costs which you will have to meet every month before you can post a profit. Therefore, structure […]
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How to measure progress

What’s your goal? How can you measure progress towards meeting your goal? These are practical questions – not only does every business person need goals, but they also need to measure progress. I’ll give you a simple example. I’m blogging. My current goal is to get people to read my blog. I measure my performance […]
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Dividends explained

Dividends are distributions of profits to stockholders.  Corporations pay dividends; dividends paid by partnerships and sole proprietorships are called “withdrawals” or “drawings.” “Dividends” generally refer to cash dividends, cash payments to stockholders as a distribution of their profits.  After all, profits belong to the stockholders. “Stock dividends” actually refer to distributions of stock, when companies […]
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What are revenues?

Revenues are inflows earned from your customers. The key factor to understanding revenues is understanding that you must earn them.  To earn a revenue, you must provide whatever service or product it is that you provide to your customers.  For example, if you sell yoga equipment through an e-commerce site, then you will earn revenues as […]
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