Financial Markets: Capital Vs. Money Markets

By Kristina Zucchi, CFA

A financial market is a market that brings buyers and sellers together to trade in financial assets such as stocks, bonds, commodities, derivatives and currencies. The purpose of a financial market is to set prices for global trade, raise capital and transfer liquidity and risk. Although there are many components to a financial market, two of the most commonly used are money markets and capital markets. 

Money markets are used for a short-term basis, usually for assets up to one year. Conversely, capital markets are used for long-term assets, which are any asset with maturity greater than one year. Capital markets include the equity (stock) market and debt (bond) market. Together the money and capital markets comprise a large portion of the financial market and are often used together to manage liquidity and risks for companies, governments and individuals. 

How to Become Wealthy- Warren Buffet

Israeli tanks roll into Gaza; Hamas warns of 'heavy price'

By Ben Wedeman, Jethro Mullen and Kareem Khadder

Gaza City -- Deadly clashes broke out after Israeli tanks drove into Gaza and launched a ground operation that further escalates the conflict with Hamas.

The incursion Thursday night follows 10 days of Israeli bombardment of Gaza that has killed more than 250 people. Israel launched the ongoing aerial offensive last week, saying it aimed to halt the firing of Hamas rockets from Gaza into Israel.

Israeli Prime Minister Benjamin Netanyahu and Defense Minister Moshe Yaalon ordered the ground operation to destroy tunnels dug from Gaza into Israeli territory, according to a statement.

Thirteen Hamas militants used a tunnel earlier Thursday to launch an attempted attack in Sufa, near an Israeli kibbutz, but were stopped by Israeli soldiers, the Israel Defense Forces said.

The IDF said it had sent a "large" force into Gaza that includes infantry, tanks, artillery, combat engineers and intelligence units, with aerial and naval support.

3 Easy Skills to Master Your Mind

BY MATTHEW TOREN

Success in life is what you do with your ideas and vision. While action is important, the first step of success deals with training your mind.  

While your brain can be a powerful tool for any entrepreneur, it can cause someone to stray from his focus. So many times entrepreneurs find themselves off in the weeds thanks to some thinking that got them into trouble.

If you find yourself struggling with a calm mind under pressure, too much anxiety or plagued by worst-case scenario thoughts, here are three simple skills that with just a little bit of practice and a few minutes a day, will help every entrepreneur master the mind.

Get a meditation practice. Meditation is not just for monks, yogis or hippies.

Even if you never achieve nirvana, the practice of meditation itself will give you significant health benefits.

Is Your Brain Limiting Your Entrepreneurial Success?

By MEIKO PATTON

Are your entrepreneurial prospects inhibited by your own thinking? That may be the case if you don’t regularly give your brain exercise.

According to scientific research, some of the benefits of brain games and teasers include the following: boosting brain activity, providing emotional satisfaction and a sense of accomplishment, enhancing memory and processing speed, helping to slow decline and reduce the risk of dementia, improving, concentration and reducing boredom.

For example, what’s the first word that comes to mind when you read this brain teaser? Johnny’s mother had three children. The first child was named April. The second child was named May. What was the third child’s name?

Most people immediately think of “June” because they quickly spot a familiar pattern: the sequence "April, May and June." But if a person rereads the question and carefully analyzes the data, the answer Johnny becomes obvious.

Your Guide to Wealth- Robert Kiyosaki

FUNDAMENTALS OF BUDGETING

By Oladipupo Clement

What exactly is Budgeting?
1. It is the process of creating an itemized summary of possible income and expenses for a given period. 

2. It is defining your financial limits per time and operating within it.

3. It is a money spending plan.

4. It is defining the direction of your money even before you earn it.

5. It is an income distribution mechanism designed to provide for your short to long term obligations.

6. It is a planning process for determining the in-coming and out-going direction of your earnings.

NOTE:
Be part of the solution in your little corner or sphere of influence!
Take the practical step toward making Nigeria a better and richer nation.
MAKE A DIFFERENCE!

[The GAMEPLAN is brought to you by LIFEPAGE Limited -www.lifepagegroup.com]

A new Israeli phase in Gaza

BY YOSSI MELMAN

So far Hamas has launched 650 rockets and mortar shells – an average daily rate of 110 - and according to IDF estimates, it has 5,000 rockets of all ranges (60% of its arsenal at the beginning of the war).

As the war on Gaza enters its sixth day it moves to its second phase. During the first five days of the campaign the nearly 1,200 air force strikes were mostly "surgical," directed at targets identified by precise intelligence with a great effort to avoid collateral damage, i.e. to innocent civilians.

But this tactic limited the military's ability to effectively eliminate the military infrastructure of Hamas and Islamic Jihad.

It also placed Israel in a difficult position vis-à-vis the well-known practice by Hamas and other Gaza terror groups of using civilians as human shields. Hamas also built underground bunkers, rockets depots and workshops under residential buildings and launched rockets from mosque yards and rooftops.

3 Problems That Became Opportunities to Change the World

BY MATTHEW TOREN

You may be tempted to think that when you reach a certain level, whether that’s in wealth, enlightenment or power, that your problems go away. If only you could get through this round of venture capital. If only you were wealthy enough to be the investor. If only you had the time to be healthy. If only you had the schedule to have a personal life. The list is infinite, but the problem is the same: you’re still seeing problems.

You probably already know on some level that problems are the constant roadblocks of life. You always have had problems and you always will. Even if and when you get to the next level of whatever you’re seeking.

So here’s the real key to happiness: Stop seeing problems as roadblocks and start seeing them as stepping stones. They’re the building blocks to a better life and a better you. They create better worlds. 

Not convinced?

Here are three examples of common problems that led to innovators creating a better world.

The business of the 21st century- Robert Kiyosaki

Keys to Success- Brian Tracy

The 3 Percent Solution for Personal Development

By  EDDY RICCI

Unless you are near retirement or a trust fund baby, the income potential of your career is your greatest asset. The house, cars and investment accounts are golden eggs that wouldn’t exist without the golden goose, your career. Unlike investing in other assets, there isn’t a well known “investing in yourself” rule of thumb to help you make professional development decisions.  

How much money should I reinvest in myself? Like any other investment, investing in YOU should take into consideration your time horizon, risk tolerance around the personal achievements important to you, how long you've been in your career, longer term goals and current liabilities.

US prepared to broker Gaza ceasefire, says Obama

A rocket from Gaza hit a petrol station in Ashdod on Friday, seriously injuring one person

The US is prepared to broker a ceasefire between Israel and Palestinian militants in Gaza, President Barack Obama has said.

His comments came in a phone call with Israeli PM Benjamin Netanyahu.

Mr Netanyahu earlier said Israel's operation was progressing as planned with "more stages expected". The air strikes on Gaza, and militant rocket fire into Israel, continued overnight.

More than 90 Gazans have died since Tuesday, Palestinian officials say.

About half of those killed are civilians, the health ministry has said, with some 600 people - mainly civilians - injured.

Israel says "dozens of terrorists" are among the dead

Israel says militants have fired close to 500 rockets from Gaza since it launched its Operation Protective Edge early on Tuesday. It says many of the rockets have been intercepted by its Iron Dome anti-missile system - and that it has attacked about 780 targets over the same period.

There have been no reports of fatalities in Israel.

One person was seriously injured when a rocket hit a petrol station in the southern town of Ashdod on Friday morning, reports say.

Finding my Purpose- John C. Maxwell

Deaths rise in Israeli air strikes on Gaza

               The site of an Israeli strike in Gaza City

More than 20 people have been killed in the latest air raids on Gaza, Palestinian officials say, as Israel continues its current offensive.

The Palestinian health ministry said most died in attacks on a house and a cafe in Khan Younis in the south, bringing the overall death toll to 80.

Militants in Gaza continued firing rockets into Israel on Thursday, with sirens sounding over southern towns.

UN Secretary General Ban Ki-moon warned the situation was "on a knife-edge".

Before You Break Up With That Problem Customer, Go Down This List

By DOUG AND POLLY WHITE

Not every customer is ideal. Some are so bad, they can make us wonder why we decided to start our business.

Let’s face it -- sometimes there are good reasons to fire a customer. When a relationship becomes badly damaged, it can be the best for all concerned. However, deciding not to serve a customer is a very serious decision that should not be taken lightly. We suggest four steps to take before you make this move.

1. Try to fix the problem. Customers are the lifeblood of business. Without them, the doors close. Customers are difficult to attract and replacing those that leave is expensive.

3 Simple Things You Can Do Right Now to Build Better Habits

By James  Clear

Once you know the specific parts of the process that hold you back, you can begin to develop a solution to solve that problem.

Building good habits can be difficult.

That’s especially true if you want to stick with them for the long-term. Thankfully, there are a few simple strategies that you can use to build better habits and break bad ones.

I’m not going to pretend like these ideas are the only way to build better habits — there are plenty of others out there — but these simple steps can help you make progress with most of the goals you have for your health, your work, and your life.

And with that in mind, here are 3 things that you can do right now to build better habits.

1. Start with a habit that is so easy you can’t say no.

60 Minutes To Getting Rich- Robert Kiyosaki

Finding What Works For You

This is a book about self-discovery. It is about finding and defining your purpose in life- the reason for your existence. It is about discovering what makes you different from others and profiting therein. It shows you to leverage on your talents and uniqueness to pioneer an enterprise- that the difference between your talents and business is simply profit. It teaches you that everything God deposited inside you is for the benefit of mankind and ultimately for your profiting. #findingwhatworksforyou
I trust you are in a time of your life. This book will help you to discover God-given talents and position you for rich and rewarding flight in destiny.
for more enquiries: call-08063055952 or visit facebook.com/LifepageLimited orwww.lifepagegroup.com

RECORD/BOOK KEEPING IN BUSINESS (4)

By Oladipupo Clement 

6. RECORD/BOOK KEEPING IS OF NO USE IF IT IS NOT ACCOMPANIED WITH PERIODIC REVIEWS AND TURNAROUND DECISIONS.

7. HAVE PERIODIC MEETING FOR FINANCIAL EVALUATION WITH YOUR MANAGEMENT TEAM. 
I suggest you meet at least once a month. This way, you are able to redirect attention to where it is most needed.

Israel launches new air strikes on Gaza Strip

Israel has carried out more air strikes on the Gaza Strip, following dozens of rockets fired by the Palestinian Islamist movement Hamas.

At least 15 Palestinians, including two women and a child, were reportedly hurt in the strikes.

Hamas said it fired rockets to respond to "Zionist aggression", after accusing Israel of killing five of its fighters.

Israel denied the claim. It says it has now begun an open-ended aerial operation to end rocket fire from Gaza.

Israel says the operation will be expanded in the coming days and that 1,500 reservists have been called up.

Israel hits 34 targets in Gaza after rocket attack

Rockets fired from the enclave continue to rain down on southern Israel after massive air raid

After the discovery of the bodies of the three kidnapped Israeli teens Monday evening, tensions continued to soar between Israel and Hamas Tuesday as a barrage of rockets hit southern portions of the country.

"We're preparing a plan to advance an operation in the Strip. The objective is to avoid escalation and act responsibly" an unnamed Israeli army source told Israeli daily Ynet.

Over 20 rockets fired from Gaza hit in a 24-hour period, including four Tuesday morning. Two rockets exploded in a kibbutz, causing damage to vehicles and buildings.

Meanwhile, the Israeli Air Force (IAF) struck 34 targets in Khan Yunis and Rafah overnight in central and southern Gaza in response to the rain of rockets.

According to experts, the operation was the most comprehensive one carried out by the IAF since Operation Pillar of Defense, which was launched after over 100 rockets were fired into Israel in a 24-hour period in November of 2012.

Deadly Ebola virus ‘out of control’ as potential victims remain untreated

What is ebola virus?

IT’S a deadly virus spreading out of control and doctors fear it may travel further as hundreds of potential victims fail to come forward for help.

The current Ebola outbreak in Guinea has claimed nearly 500 lives as the UN struggles to contain it, and panic sets in across neighbouring Sierra Leone and Liberia.

The UN has warned the virus, which is spread by exposure to infected bodily fluids and other secretions, has the potential to cross borders unless urgent action is taken to halt the outbreak.

Doctors say a mistrust of Western medicine and difficulty in accessing remote areas means potential sufferers are going untreated.

Medecins Sans Frontieres (MSF) told the UK Telegraph that at least 1500 people who may have come into contact with infected patients have not be properly traced by authorities.

Top 25 Quotes To Discover The Leader In You

By David K. Williams

I was inspired by author Dave Kerpen’s recent article that shared his top 25 leadership quotes.  As he aptly noted, great quotes inspire us to change, to grow, and to become our best selves. In that same vein, I’m sharing my own favorite famous and not-so-famous quotes that have inspired me and my leadership team to view ourselves as a championship team.

I have divided and organized my own favorites to align with the 7 Non-Negotiables of Winning that have arisen out of the research and practical use of these themes as I was preparing my book.

Let me know which of these are your favorites, and share the quotes you’ve found to be most inspirational to you that you would add to this list.

Here goes:

Listening

1) “When people talk, listen completely. Most people never listen.” —Ernest Hemingway

2) “The most basic of all human needs is the need to understand and be understood. The best way to understand people is to listen to them.” —Ralph Nichols

Nigeria: NEITI Audits - Over N65 Billion Recovered From Companies

Abuja — The Nigeria Extractive Industries Transparency Initiative (NEITI) says about N65 billion have been recovered from oil companies due to its audit reports findings.

NEITI board chairman, Ledum Mitee who made the disclosure while presenting the 2007-2011 Fiscal Allocation and Disbursement audit in Abuja, also noted that it is not through that NEITI has spent about N1 billion in conducting its audits.

Mitee explained that despite claims that the audits have not benefited the country; a lot of improvements have been seen in the operations of the oil and gas industry operators.

Effective Stress Management Techniques- Brian Tracy

The 5 Secrets of Great Bosses

BY S. CHRIS EDMONDS

When you think of your best boss ever, what did he or she do that created an inspiring work environment for you? How did he or she act to enable your high performance and high engagement each day?

I’ve asked thousands of people in my leadership programs and keynote audiences these questions. The answers I hear are consistent. Great bosses do five vital things daily to create workplace inspiration and serve their employees well.

Before I share these five secrets, let me pose a different question: Would your employees, today, say you are their best boss ever? The answer may not be a resounding "yes" from every employee.

Habits of Success- Brian Tracy

10 Time Management Tips That Work

BY JOE MATHEWS, DON DEBOLT AND DEB PERCIVAL

Chances are good that, at some time in your life, you've taken a time management class, read about it in books, and tried to use an electronic or paper-based day planner to organize, prioritize and schedule your day. "Why, with this knowledge and these gadgets," you may ask, "do I still feel like I can't get everything done I need to?"

The answer is simple. Everything you ever learned about managing time is a complete waste of time because it doesn't work.

Before you can even begin to manage time, you must learn what time is. A dictionary defines time as "the point or period at which things occur." Put simply, time is when stuff happens.

How to Discover Your Hidden Potential

By Wvlegacy

Potential is defined as the inherent ability or capacity for development, growth or coming into being. Each of us has the capacity to become someone great which results in us doing great things. Unfortunately, a lot of people never discover the potential they have within themselves. Some of the greatest athletes never play a game and some of the greatest actors never act a part on a major stage simply because they never realize their true potential.

The first key we need to look at when it comes to discovering hidden potential is the environment.

Environment

We are created to flourish in a specific environment. A palm tree will not flourish in Virginia and an pineapple tree will not flourish in Maine simply because of the environment. These fruit trees require a specific environment in order to prosper. There is a specific climate required by these trees and this climate does exists everywhere.

Starting Your Own business- Sam Adeyemi

RECORD/BOOK KEEPING IN BUSINESS (4)

By Oladipupo Clement

stop carrying your company cheque book everywhere you go, except you are still operating a mobile office.

STAY INSPIRED!

6. RECORD/BOOK KEEPING IS OF NO USE IF IT IS NOT ACCOMPANIED WITH PERIODIC REVIEWS AND TURNAROUND DECISIONS.

7. HAVE PERIODIC MEETING FOR FINANCIAL EVALUATION WITH YOUR MANAGEMENT TEAM. 
I suggest you meet at least once a month. This way, you are able to redirect attention to where it is most needed.

5 Simple Cures to Work Smarter and Save Time

By MATTHEW TOREN

You’ve heard the expression “work smarter, not harder” before, but what does that mean exactly? When your inbox is packed, there's a giant stack on your desk and the phone keeps ringing, how are you supposed to get it all done smarter?

The truth is many of our common ways of doing things aren’t actually productive. When you focus too heavily on the act of doing over the brilliance of planning, you can be spinning your wheels with a lot of extra activities that aren’t driving any results. That means lots of time wasted on things that aren’t worth your attention, or that could be handled in a more efficient manner.

As Benjamin Franklin said, “an ounce of prevention is worth a pound of cure.” Here are five simple cures to help you work smarter in the days ahead:

1. Structure. The wealthiest entrepreneurs know that having some structure to your schedule creates a routine of success. If you’re running around willy-nilly stomping out fires instead of planning your business’s future, you’re going to burn out and fall behind. The key to an effective workday is setting some structure in place. Get up at the same time Monday through Friday and carve out a routine, for instance; wake up, work out, eat breakfast, answer emails, phone calls, block out time for actual planning and work, check your email again, phone calls again, then be done for the day.

Eliminate These 8 Distractions That Are Killing Your Productivity

By JONATHAN LONG

As an entrepreneur, you know how valuable every single minute of your day is. We all would do almost anything for more time.

Sometimes your work environment and personal habits can waste precious time without you even knowing. Here are eight common distractions that are responsible for killing productivity.

1. Social media. Facebook status updates, tweets and Instagram pictures are a great way to stay connected to friends and family, but they can also suck valuable time away from your day. Our culture is addicted to social media. Unless you are using it to promote your business, it can wait. Those pictures and status updates aren’t going anywhere.

2. Cell phones. Not only are phone calls and text messages a major distraction, but most of us have Facebook, Instagram, Twitter and various other social apps on our smartphones. While putting the phone on silent mode is better than nothing, it may vibrate across your desk, eventually peaking your interest and causing you to check it. If you really want to eliminate distractions, turn off your phone or set it to airplane mode while you work.

The Meaning and Essence of Leadership in Business

By Karen Kleinwort

Change is the only unchanging features in this changing world. Everything surrounding us changes with the passage of time to be in line with modernization. The ongoing business environment is no exception when it comes to this trend. Modern business is on a triumphant march through tracking changes via hard work from the most efficient business leaders.

Effective leaders adopt strategies and techniques to try to win or take the lead in the competitive market, which is ultimately a game of “survival of the fittest.” In both good and bad times, there is always a need for quality leadership. The success of a business or an industry is mostly dependent on the leaders it gets or inherits. The successful implementation of desired leadership techniques is crucial for meeting the changing demands in business. The mystique of leadership in and of itself makes it one of the most widely debated, studied and sought-after commodities in business.

Boko Haram insurgency exposes Nigeria's extreme economic inequality

By GEOFFREY YORK

Widespread corruption in Nigeria is creating a “more permissive operating environment” for Boko Haram

When the first bomb exploded at dawn, it shook the ceiling and floor and the shabby furniture in Alice Mayaki’s small cluttered house. Crying and trembling, she rushed outside and saw dozens of dead bodies.

Two weeks later, another bomb exploded in almost exactly the same spot. More than 90 people were killed in the two blasts. “Everyone is afraid,” Ms. Mayaki says. “I don’t go into town. Should I go, or should I not go? Life is very dangerous now.”

Abuja, the Nigerian capital, is the city of the big men: the politicians who control the enormous oil wealth and state resources of Africa’s biggest economy. But when the Boko Haram rebellion came to the capital this year, the big men were safely protected by guards and checkpoints. The explosions hit the migrant workers in the slums as they queued for their morning buses.

“It was the poor people who were going to work early,” said Ms. Mayaki, a nurse who migrated here from southwestern Nigeria. “It was the people who clean and sweep the offices for the big men. They were the ones who were killed.”

Nigeria’s rich and powerful, its politicians and military leaders from Lagos to Abuja, have been comfortably immune to the brutal northern insurgency – which may help to explain why it continues to escalate. The rebellion has exposed the extreme gulf between rich and poor in one of Africa’s most unequal countries. And this widening gap has fuelled the anger and alienation that makes it easy for Boko Haram to find recruits for its murderous militia.

Wole Soyinka speaks out on CNN

Government of Nigeria has no intention to #BringBackOurGirls

By Peregrino Brimah

The day of the abduction of 234 girls from a school in Borno State, the president of Nigeria continued on a campaign rally in Kano State, in which he was notoriously photographed dancing ecstatically to a twerking backside. At this time, his serenely placid actions in the face of the two worst terrorist acts on Earth to register for 2014 – a bus stop bombing at Nyanya motor park in the nation’s capital which claimed over 72 lives and maimed many others; and the Chibok school abduction happening hours after on the night of April 14^th – were defended as mere happenstance, inexperience and definitely not deliberate complicity

But the Nigerian government did not stop here in the deadly betrayal of the abducted citizens and denial of the severity of this event with deliberate complicity and perhaps, more accurately put, reckless endangerment and treasonable treachery towards citizens of the nation. The week of the abduction, as the public outcry began to persist; the government security department announced that all but eight of the girls had been freed by the security forces. The implication of this attempted colossal act of national sabotage and conspiracy to defraud the entire world and aid the terrorists in getting away with the abducted girls cannot be over stated. The parents kicked back and so did the school authorities and local government. They immediately went to the press to declare, exasperatedly that the government was lying and that even more girls than was being revealed were missing. The parents at this time further made it known that they had dared to go after the terrorists along vigilante’s of the Civilian-JTF, tracing the terrorists deep into Sambisa forest where they saw their camps, but had to turn back as the nation’s military refused to accompany them in pursuit of the terrorists and to free the abducted girls.

12 Business Skills That Will Never, Ever Go Out of Style

By Joe McKendrick

This is the digital age -- throw everything we've ever known about succeeding in business out the window, right? Wait a second, not quite everything.

There are basic rules for business success that haven't gone away with the digital age -- in fact, they have only become more important. The skills listed below could have appeared in any career book of the 1990s, 1980s, or even 1930s -- and continue to withstand the test of time:

Communication skills:- Management is still tight with budgets, and needs to be sold on new project ideas. The ability to construct an argument and make your case forcefully and clearly to your boss, client or coworkers will move your ideas to fruition. Computer systems can provide all the information you need, but machines don't know how to package it up to get decision-makers excited about lending their support to a project or idea.

Time management and organization:- The ability to stay organized and prioritize tasks will go a long way to moving you and your team forward. An application may accomplish a task within a millisecond, but it doesn't know its context or how it fits into the scheme of things. Just as important, to be able to make a decision and act on an opportunity now -- without getting wrapped up by paralysis by analysis -- will deliver results.

The Habit Of Selling- Brian Tracy

Success Secret- Sam Adeyemi

5 Questions to Determine If You're Ready to Be an Entrepreneur

By Mathew Toren

The only difference between people who want to be entrepreneurs and the ones who actually are is the work and the risk of getting started. 

If you feel like you want to be an entrepreneur but aren’t certain if you’re ready yet, here are five questions to help you determine your capabilities.

1. How comfortable are you with being uncomfortable? Entrepreneurship will mean a lot of uncertainty. If you’re the kind of person who needs a lot of control and a strictly scheduled life, you may not be able to handle the ambiguity that surrounds entrepreneurism. That being said, don’t think just because uncertainty makes you nervous you can’t be an entrepreneur. If you find you have a need for a controlled schedule, that trait could actually work in your favor.

Entrepreneurship requires long hours, hard work and dedication when you start out. Being able to manage your schedule and control your environment could help you with the organization of your business. However, you might want to plan before you leap in. A few great ways to do this are to stockpile savings, already have a business plan you’re prepared to work and seek out a community of support to talk you through the tough times.

Seven Rules for Coping with Sales Rejection

By Jane Porter

Using techniques he learned in a seminar on sales prospecting, Carlson decided to try zapping his negative feelings, “Mark Carlson, president of T. Charles Wilson Insurance Service, with his "thought zapper.” Literally. He started wearing a thick yellow rubber band around his wrist that he called a "thought zapper." Every time he looked at the phone and felt anxious, Carlson snapped the rubber band and thought of something positive. He also made a point of scheduling time each day to call potential clients. Soon his negative thoughts dissipated, and sales rebounded this year to $1.6 million.

Fear of rejection is common among small business owners like Carlson, especially those who are just learning how to sell themselves and their product or service. Consider these seven rules for coping with rejection in your business.

Know your sales ratio. Rejection is inevitable when you're selling, but you may not get as discouraged if you know how much to expect. Trelitha Bryant, a vice president at Behavioral Sciences Research Press, a Dallas-based firm that focuses on how fear affects selling, calls it your "sales ratio" and estimates that on average it takes about 30 calls to get an appointment with a prospective client.

RECORD/BOOK KEEPING IN BUSINESS

By Oladipupo Clement

STAY INSPIRED!

FUNDAMENTALS OF RECORD/BOOK KEEPING

1. HAVE AT LEAST A BOOK KEEPER TO HANDLE ALL YOUR RECORDS. 
This is very essential because it can be very tasking to keep records for your business and run around for business contracts at the same time. You also don’t want to be trapped with paperwork (especially when there is little or nothing to account for).

2. DISCOURAGE CASH TRANSACTIONS AS MUCH AS POSSIBLE. 
Whatever your business line, encourage bank lodgements to give every income or expense a history or trace. With the bank statement, you are able to track inflows and outflows whenever you choose.