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E-Myth – “Why most small businesses don’t work & what to do about it”

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Business Consultant | Walking On Business Eggshells

It needs to be said, that business consultant definitely knows that it is more evidence that it seems that there is a lot of potential fraud that is happening from within businesses, big or small.

One day you’re going have credit cards for office supplies and have another person the next day get a debit card from your bank in order to mitigate a lot of these issues. Year no longer going to need petty cash. That could be half the problem with what is happening from within your business, there is too much potential physical cash floating around. Everybody is now going to accept debit and credit cards from around the world anyways, so you’re definitely going to want your business to work on debit and credit.

You’re going to be able to set up read-only access, or access agent. They can see all of the activity from within those particular accounts. They can help with a lot of bookkeeping, and reconciling accountants, but they can’t disperse cash.

Understand that it is somebody that you’re never going to want to speak to and it can take six days to get a deal approved. The reason for that is then there going to have to go through and underwriter. That deal may still be valid with another lender. Even if you have to pay more than one loan application fee.

Business consultant wants you to definitely understand that credit card credentials are in trouble in terms of the person in your business that legitimately needs a credit card will have to get one from you. However that should be the only business credit card that there is. That will just mitigate a lot of the security risks if there is only one particular card. As well, same with the debit card.

Business consultant also once you understand the fact that what you should do is you can trade off with the debit and credit cards one person will have the credit card one day and the other person will have the credit card the next day. Then what will happen is you will be able to properly figure out who is going to be the person that is doing the theft, one way or the other.

Don’t use checks. Or if you do use checks, make sure you treat them as cash, and keep them under lock and key. Instead of using the checks, why don’t you consider using an EFT processor from within your business. An EFT processor, or an electronic fund transfer processor, will be able to easily electronically process all of your funds, just as the name says. If you have an EFT funds provider, you can viewable the transfer those funds from a corporation and a corporate account to an EFT funds account, providing for all of your payroll and payables.

You’ll now only know that there is a problem and he put the controls in place so that the money is dispersed properly.

Do You Need Help Finding The Business Consultant?

Business consultant suggests that it is generally a very good secondary choice, you can a look to get a bank loan and the first bank financing should be at a primary choice if they are generally going to be at a lower rate.

However, make sure that that lower rate and no fraud is going to be an issue.

What ends up wanting to be done, is a lot of situations where they are in charge with the accountant they have validity legitimate filing system. No one else is however except the end of this filing system, except for that one individual person. Now the problem is is that one individual person may be the only one to deal with that filing system.

Heaven forbid that that one particular person goes on holiday, or get sick so that nobody can understand and deal with the filing system while they are gone.

What ends up happening in terms of outsourcing which is a very good idea that can have multiple people involved than cheaper than the cost of one particular staff member. It is a great idea to have obviously less employees than more, as you will be able to easily figure out who the thief is.

Business consultant wants to state the fact that there’s a lot of business consultant that also wants you to understand that it is somebody that is going to work very closely with you that you’re going have to trust to take a credit card. And that person however is going to be completely responsible for that credit card, and at rest assured, and make sure that that is very evident with them when you do give them that credit card. That credit card is going to be the petty cash card.

All of your payroll and payrolls are going to be totaled within that amount as well, in terms of the transfer from your bank account this will go directly into a trust account and a trust account is very secure and safe. With an EFT provider, make sure that you are definitely going to be able to rest easy and rest assured that everything is going to be far safer.

Here is the entrepreneurial problem and the myth. The banks don’t check a lot of the signatures that well need to be checked and cross-reference. They’re not at all interested in cross-referencing them and they automatically take you at your word. What ends up happening sporadically they may as well not check them at all and need to look at the checks like cash. So do be very careful with making sure and keeping those very safe.

Do not share a lot of credit card credentials as well. Just like in your personal credit card, you don’t share credentials or numbers, or anything. It is the same with a business card as well