HOW DO YOU DO YOUR ACCOUNTING?

While out picking up some stuff from the super market while on vacation, I happened by a giant book sale. All the books were 80% off list, so I looked around and found six great business books I've been looking for.

When I went to check out, the lady at the front asked what I did. I told her I help people start small businesses. That lead to a lengthy conversation, but during the discourse, she made one point that stuck in my mind. She said, "One thing more small business people need to learn is accounting! Keeping up with their books, and especially receivables is one the most important things they need to do!" I agreed with a hardy YES to that!

One of my favorite programs for small business accounting is QuickBooks Pro. I like it because you can track receivables and inventory in it, but are your ready for that? There are many accounting choices available to small business people. With all the choices, it can get confusing. Just because I like QuickBooks doesn't mean it's for everyone.

When I get back from vacation, I'm going to search around for some good accounting choices, but until then, here is a great article Jennifer A. Thieme, a QuickBooks Pro Advisor, wrote about this. Read over it and let me know what you think in the comments section. Also, if you are using an accounting program now, let me know what it is.

Do you need QuickBooks at this time? Are you feeling swayed by the advertisements about how easy it will make things?

QuickBooks is a full-blown double-entry accounting system. Although Intuit has done an excellent job making double-entry accounting accessible to many people, it still requires a certain amount of specialized knowledge to use the program effectively.

Brand new, solo, sole proprietors generally only need a few things in their day-to-day business accounting:

1. Accurate Bank Balances. Managing and reconciling the check register should be as easy as possible. Printing vendor checks is nice, but optional.
2. How Much Revenue? Tracking revenue for tax purposes is an absolute must.
3. Expenses Tracking. Keeping track of all expenses in their proper categories is also an absolute must for tax purposes.

Quicken can do all of these things, more easily and less expensively than QuickBooks. So can Excel or even a paper based system.

I'm not a big fan of switching people over to QuickBooks unless their financial situation changes. You might be ready for QuickBooks if:

4. Employees. Perhaps you've grown to the point of needing to hire people. Great! But you also might need a new accounting system to help you with all of the payroll reporting & payment requirements.
5. Inventory. Perhaps your inventory has grown to the point where you would be better off tracking it via software. QuickBooks can help you with this.
6. Change of Entity. You may have grown to the point where you should change from a sole proprietor to some other type, such as an S-Corp. If so, then you need to be able to generate a balance sheet for tax purposes. QuickBooks can do that for you.
7. Accounts Receivable. You may send a lot of customer invoices each week or month. QuickBooks can keep track of these for you in a very organized and easy to understand way.
8. Lots of Business Debt. If you have many loan balances, keeping track of them in QuickBooks is easy.
9. Job Costing. You perform work on a job-by-job basis. Maybe it's time to track revenue and expenses for each job - this way, you can determine if you are making money on each job, and which jobs are more profitable than others. QuickBooks does this.

If more than one of these applies to you, it may be time to make the switch.

Final Thoughts

Switching to QuickBooks means better reports and better tracking of financial data. For this, you may need professional help - you may need to hire somebody to do the bookkeeping and/or help with the setup. So switching accounting systems will cost more than just the price of the software. Before you switch, make sure that the additional data is worth the additional expense. If some of the above variables have come into play, it probably is.

About the Author: Jennifer A. Thieme is a Certified QuickBooks ProAdvisor who loves to help people with QuickBooks. She brings unique insight, clear instructions, and over ten years of experience to all of her QuickBooks articles. Owner of Solid Rock Accounting Services, Jennifer's clients enjoy these same benefits on a personal and regular basis. You can too - visit http://www.jenniferthieme.com and contact Jennifer today.

Image: http://quickbooks.intuit.com/

THE POLAR BEAR WAY

One of the things I enjoy when on vacation, is I have some time to watch TV. We don't have cable or satellite at home since we seldom watch TV anyway, so cable is a treat.

One of my wife's favorite channels is Discovery, so we were watching it one evening after we put the kids to bed and the rest of the family turned in. The show was called Blue Planet and they were filming in the Arctic; it was about polar bears.

We learned a lot, but during one point of the program, it showed a polar bear hunting seal. It would rear up and smash the ice over and over until be broke through to the den. The bear was not successful on this hunt, and the narrator said that the bears are usually only successful one out of every twenty attempts! That's when Tisha turned to me and said, "That's just like what you teach in your sales class, isn't it." Well said!

Often nature imitates our daily lives. Just like the polar bear has to fail enough times to succeed, so do we! When it comes to your business, you have to be willing to fail; just like that bear! When you call on a customer, you give it all you've got! If you're successful, you get to eat! If you fail, you move on to the next customer!

Do you want to be more successful? Fail more!!! Get in front of more people, and you'll see your numbers grow and grow!! Like to eat? So do polar bears! Follow their example!

VACATION!!!

Sorry I've been out of touch the lest couple of days! With Bobby here shooting video, and me gutting the classroom, I haven't had much time to do anything else!

As you can see, I've been a busy fellow; especially the past two days. We're giving the classroom a good white washing while I'm away on vacation this next week.

Because I'll be gone, I won't be posting much. I may drop a few posts in from time-to-time, so stop in, but there's no need to visit every day. As soon as I get back, I'll catch everyone up!

To update you on the Wolff/ Huff Show. We have 35 signed up at last count, so if you want to come, book you spot quick! It's going to be a great show this October! Anyone close by won't want to miss it!

VIDEO DAY!!!

It's been a fun filled day of shooting video with Bobby Huffman! We shot video showing the Huffman's new Extreme Kut Clipper Blade Sharpener and a questions and answer session to go along with it.

We also just finished shooting a repair video for the Andis AGC model, AG model and the new Andis AGP model clippers. In a couple of weeks, I will render the video and edit it. I will let everyone know when they are ready!

Speaking of video, here is a great post by Seth Godin. I'll be writing more about this soon, but this post will show you that video is the way of the future in business! Take a look now, and I'll explain more about my feeling on this in the near future!

A QUICK NOTE

I will be hard to get in touch with over the next couple of days. I will be shooting video for the Extreme Kut Clipper Blade Sharpener with Bobby Huffman. We will also be shooting some Andis Repair Videos too.

Also! I added a link to the post about the Hira-To Video for $9.94. This will take you Wolff's online web store so you don't have to call in to order one. If you haven't ordered a copy yet, DO IT! This is a bargain at $9.94! It's not just about Flat Honing!! It is so much more and will make a great addition to your sharpening education arsenal!

Another thing I wanted to mention! You no longer have to sign in to post a comment on Jim Sharp! I am still new to Blogger and I didn't realize it comes set so the readers have to sign in to comment. I have now corrected this and apologize for this oversight. To post a comment, just click on the work "comment" at the bottom of any post, and start writing!

Last thing! I wanted to point you to a post Tony Clark wrote about making money in business. I spend a lot of time on the phone trying to convince sharpeners to change what they're worth! This post shows that it's OK to make money in business! It really is!!!!

More will be coming tomorrow!!!

TRAINING DVD FOR JUST $9.94 !!!

Get the new Hira-To Training DVD for just $9.94!! What will you get for your money?

• You'll see the new Wolff Hira-To at work!
• You'll learn how to Size Tips!
• You'll learn how to Set and Twist Shears!
• You'll learn how to Bend Handles!
• and more...

This DVD is a great value whether you use a Hira-To, an Ookami or any of the other machines on the market!!! And if you decide to buy a Hira-To in the future, you're $9.94 will be credited back to your order! Snap one up and see Wolff's newest machine! And learn a little too!! But you need to act fast! This offer is only good through the end of August!! The Part # is FH-DVD

THE 80/20 RULE

You've heard it! Eighty percent of your business will come from twenty percent of your customers. While perusing the Internet I came across this post about this topic I thought all of you should see. Take a look and let me know what you think in the comments section!

HOW DO YOU PRESENT YOURSELF?

Ever go to a fast food restaurant? Notice those pretty pictures of the food above the counter? Well here are some examples of a counter ad and the real product! Yuck!!! And this is what it's like at every one of these restaurants!

So my question is, what does your literature look like, and what do you look like? If they don't match on either side, NOT GOOD!!!!

Your Mother told you, "You only get one chance at a first impression!" This may seem basic, but over and over again I see "Professional Sharpeners" that just don't look that "Professional"!! Don't be one of these!

Tips about this:

• Dress to impress
• Design a nice looking, or unique, business card
• Have colorful, well designed literature

To dress to impress, go to any department store (with your wife or girlfriend if you're male) and buy some nice clothes. As for the card and literature, take a look at Vista Print or any of the other online printers. They have all kinds of templates you can use to design these things and the price is great! Online stuff not your thing? Go to your local Community College and get a Graphics Art Student to design some stuff for you. This won't cost you much and then you can bring the files to a local printer and have them made.

If you're printing your own stuff right now, that may not be bad, just get some unbiased opinions about what you're printing. AND ALWAYS USE GOOD QUALITY PAPER STOCK!!! First impressions are important in a service business! Invest in a Good First Impression!!!!!

ON THE ROAD TO DISCOVERY

I will be hard to get in touch with today! I'm taking the day off to head to Discovery Place with my family. If you need me, you can e-mail me at jim@wolffind.com or ring my cell at 864-909-3381. If I don't answer, leave a message and I'll call back ASAP.

TEACHING AT BEAUTY OR GROOMING SCHOOLS?

If you are, and you're using Power Point during your class, you need to take a look at Dick Hardt's presentation below! Tony Clark, in his Blog Success from the Nest, said,

"Creating an engaging and compelling presentation is hard. Creating an engaging and compelling story is easier."

He's right! Most Power Point presentations stink!! In fact, after watching Dick Hardt's presentation, mine stink!!! I'll be doing something about that! To view Dick's presentation, click on one of the choices provided in the link above. You can chose large or small steaming video or large or small in Quick Time.

Do what Dick has done! Write a story, not a presentation! The video clip is a little long, but you don't have to watch all of it to get the idea of how to properly incorporate Power Point into a class.

If you have trouble loading Dick's streaming video because of the Flash content or you don't have Quick Time on your computer, try this presentation by Jeff Brenman. It shows many of the same things, but without sound and you have to click forward to each slide. Dick's is better though!!!!!!

HAVE YOU HEARD THE WORD "NO" ENOUGH TIMES TODAY?

You may not have! Dane Carlson posted an excerpt from a book yesterday on his blog. The title of the book is Go for No and it is a perfect representative of what I've been teaching my students for years!

If you've trained with me, or if you've been to one of my marketing seminars, you've heard me say, "When someone tells you no, smile and ask for a referral to 3 or 4 more people that will tell you no, because you need 3 or 4 more nos before you get to a yes!"

This book takes you one step further. It tells you to go for the nos to get MORE yeses!!!! Great concept and something every sharpener should read! Pick up a copy from Amazon.com or go to your local book store for one. I just got mine last night and will let you know how I like it when I'm done!

WHAT ARE YOUR PRICES?

I've had a few calls recently asking how much to charge for sharpening. I have my prices, and they're what I tell people to charge. What do you charge? Here is a list of tools I'm asked about:

Hollow Ground Beauty Shears
Low End Beauty Shears
Hollow Ground Grooming Shears
Grooming Shears
Clipper Blades
Large Clipper Blades
Clipper Repair

These are the most common. I have copied the tools above and pasted them in the comments section of this post. Click on comments and you'll see the prices I suggest. Do the same to add your own prices and you're welcome to add other tools if you wish.

YOU CAN DO IT!!!

Starting a business is scary! Doing cold calls is scary! Asking for the sale is scary! It's a scary world!

Jim Sharp is designed to promote Wolff Products and keep you informed about what's new and cool, but it's also designed to encourage you! Many people buy a sharpener, unpack it, play with it, but they never really start their business. Why? Fear! Many people start their business, but never REALLY go after it; so they flounder around in the midst of mediocrity. Why? They don't think they can do it!! We often fear what we've never done; not realizing that if we have a passion for something, there's a good chance we could be great!!!

Watch this video and you'll see that this shy young man walked right past his fear, up to a microphone and dazzled a crowd! You can do the same!!!! If you haven't started your business, start! If you've started and you're struggling, dig in!! Desire + determination is a powerful thing! It takes courage to leave a comfort zone, DO IT!!

By the way! If you've done it , share it!! Post how you overcame something you feared in this business in the comment section below.

SEATS ARE FILLING UP!!

We are already at 15 for the Show in Harrisburg and the number is growing each day. On The Edge just went out with an ad and Wolff Prints will hit the mail next week.

If you plan on coming, sign up soon because it looks like this one will fill fast. Seating is limited to 50 to keep classes more personal. Come see what the Wolff/ Huff Show is all about! To find out about all the particulars, click here. If you have any questions you can call me at 800-888-3832 or e-mail me at Jim @wolffind.com.

There will be more posta today! So keep an eye on the blog. I've been behind because of travel and training! Talk to ya later!!!

A NUMBER OF THINGS

First. Let me say sorry for my typo in my latest e-mail to those on my e-mail list. I said in the e-mail that the Wolff/Huff Show would be in Harrisburg, VA. That is wrong!!! It will be in Harrisburg, PA! Thanks for pointing that out to me Jim!!

Second. Because of all the traveling I've been doing lately, I'm a little behind with On The Edge. It will be in the mail by Monday or Tuesday of next week!

Third. Things went great at Foley today! You'll see some great new stuff coming from them soon!!

Fourth. I have now been to the Mall of America! Two great things came from this!! I ate at Bubba Gump and I met Maya. If you've never eaten at a Bubba Gump Restaurant, you're missing out! Great food and great fun!! But you might be wondering why I mention the young lady Maya. It's because she sold me better than I've been sold in a long time! Let me tell you what happened.

I was walking through the mall with David after dinner and I ran headlong into a smile holding a bottle of lotion. She asked me if I'd like to try it. I said no. She asked why? I said because I'm a guy. That didn't deter her. She asked again. I still said no. Smiling the whole time, she asked, "Are you married?" I said yes. She said, "Come here." So David and I followed.

She then pitched this fingernail buffer thing she sold. It worked great! But that didn't sell me. I then made a few suggestions about her product which let her to make the comment, "You can do anything you want." So I reached out like I was going to hug and kiss her (Just to see how she'd react). She quickly jumped back and, a bit shocked, said my husband would kill me! But she kept smiling, and she kept selling. When that didn't work, I realized this young lady was really good!

She then presented her package (with the lotion of course). I thought I had her then. I said, "Do you think I can use this in two days? I'm flying out on Saturday and carrying my bag on the plane." She didn't skip a beat! Out came the lotion and she presented her "mini-pack". What can I say? I fell in love! And I bought! Great job Maya!

Now most of the time I walk away with my money in my pocket after a pitch like this, but this girl had it going on! Did you notice that she had an answer to every objection? Did you see she knew how to deal with a nut like me? We could all learn something from her! What's that? Ask for the sale. Then ask for the sale. Then you know what you should do? Ask for the sale! Never once was she overbearing, but she stuck to her guns. Do you? Try it next time. You'll be surprised what you can achieve!!!

Ron Persing taught this very thing at the Sharpeners Jam. He will be writing about it in On The Edge over the next few months. It will be well worth the read!

PS - David bought too. When you're out matched, you're out matched! :)

LEARN HOW TO SHARPEN CUTICLE NIPPERS

Mike Borsch of Clipper Shack will be joining us at the Wolff/ Huff Show in Harrisburg, PA in October. He has developed a cuticle nipper sharpening machine that works great and sells for under $1000 dollars!

I had the chance to see this machine first hand when I went to see Jason Pintel in California. It is simple, fast and does a first class job! I was impressed!!!

Many sharpeners have expressed an interest in nipper sharpening! If you're one of them, here is a chance to see Mike's machine in action. He will be doing a demonstration and will have a few machines with him you will be able to try during our hands-on time.

If you have any questions about this, just give me a call at 864-909-3381. I'll be on the road training for a few days, so if I don't pick up my cell phone leave a message. I will be busy all day tomorrow, David and I are going to Foley to train them on the Hira-To. Sign up for the Harrisburg Show soon! Seats are filling fast!

If you're in the market for any of the Wolff  sharpening machines, be sure to give me a call before you buy. I know all the best places to buy at the best price! Call 864-381-8697 or email me at otenews@gmail.com.