Article - Why It's Vital to Pay Yourself First in Business

“Why It’s Vital to Pay Yourself First in Business,” posted on Entrepreneur.com by author Sam Harrop, is a great article that gives entrepreneurs an idea and a good visual on how to pay yourself first, as well as why it’s important.  Many new business owners find it difficult to separate their money from the business’ money, and oftentimes there is no clear line or a standard established when the business is started.

Highlights of the article:

• It’s important to figure your basic living expenses
• Have multiple budgets for the different stages your business goes through
• Get insurance

TheDataFyles feels that a good starting point is your budget, and knowing how much you are spending monthly for your living expenses.  This will help to determine how much your business needs to make in order for you to cover your basics, how much you need to break even, and how much to make a profit.

The best way to determine this information is tracking your expenses, and separating business expenses from personal expenses.  A simple Excel Spreadsheet is a quick and free way to track.

--Click here to read the article


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For more information about the TheDataFyles, visit:

www.thedatafyles.com

www.thedatafyles.blogspot.com

Our motto is "All things organized."

Article - 8 Ways to Save $1 Million Dollars Before You Retire

Saving for retirement.  How many times do we hear about this topic?  Better yet, how many times are we faced with this reality.  At some point, most of us want to not work, travel, and enjoy life.  But without adequate savings, how will this dream become a reality?

In this article, “8 Ways to Save $1 Million Dollars Before You Retire,” posted on Entrepreneur.com, author John Rampton suggests eight strategies to work on and build up your savings.  Even if you do not accept that “millionaire” angle, these eight strategies are worth consideration.

With strategies such as "make savings automatic" and "pay down your debt," this article offers tools you can use.

--Click here to read the article

For more information about the TheDataFyles, visit:

www.thedatafyles.com

www.thedatafyles.blogspot.com

Article - 10 Ways to Say ‘No’ That Won’t Damage Business or Relationships

“10 Ways to Say ‘No’ That Won’t Damage Business or Relationships,” by Martin Zwilling, posted on Entrepreneur.com, is a great article which addresses how to say no, as well as yes, when doing business.  For entrepreneurs and small businesses, sometimes spreading yourself too thin seems to be the only way, however, this article gives insight on how to manage your time by carefully considering your schedule, instinct, and any constraints you may have.

From reading the article, I find all ten ways the author lists to be valuable, however, there are two points that I find to be extremely important in my decision making, which are establish boundaries and give credence to your initial instinct.

Check out the article and discover new ways to handle your request, or see if how you are currently managing those requests are listed.

--Click here to read the article

For more information about the TheDataFyles, visit:

www.thedatafyles.com

www.thedatafyles.blogspot.com

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--Need a filing system created and/or organized--

--Data compiled into a spreadsheet or database--

--An e-newsletter developed, with design and content editing--

--Research performed to help make a business decision--

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We are ready to help.

info@thedatafyles.com

www.thedatafyles.com

Article - 12 Things Successful People Never Reveal About Themselves at Work

A challenge for us all - what to share, or not share on the job.  I've found that the philosophy on this ranges from "sharing too much" to "sharing too little."  This article on Entrepreneur.com, "12 Things Successful People Never Reveal About Themselves at Work" by Travis Bradberry, is a great summary of what not to reveal, with additional commentary on why.  Not to spoil your enjoyment of reading the article, but here are the first five, which are probably listed first for a reason.

1. That They Hate Their Job
2. That They Think Someone is Incompetent
3. How Much Money They Make
4. Their Political and Religious Beliefs
5. What They Do on Facebook

Check out the article at the below link for all twelve things, and details on why the author feels successful people do not share these topics.

--Click here to read the article

Article - 5 Sacrifices Every Entrepreneur Must Make

Being an entrepreneur, regardless of what type of business you decide to endeavor, is a challenge.  Rewarding, yes.  Easy, no.  As entrepreneurs, it is more than fulfilling, more than exciting, to see your dreams come to fruition.  Getting your tax ID, your DBA, your website, etc.  But after you have everything set and in place, it's time to make money, get clients, and generate revenue.

When this does not happen overnight, it can be devastating, but giving up is not an option for most.  In this article, "5 Sacrifices Every Entrepreneur Must Make," by Jayson DeMers, posted on Entrepreneur.com, the author discusses five sacrifices that I feel are very important to keep in mind on your entrepreneurial journey.

"Every entrepreneur starts out with big dreams and excitement.  As an entrepreneur, you control your own destiny, and with the right ideas, the right skillset and unflinching dedication, you can build wealth or establish an enterprise to serve as your legacy" (DeMers).

1. Stability
2. Work/life split
3. Income
4. Sleep
5. Comfort

--Click here to read the article