Carlos Hank Rhon Explains Accrual Accounting

Accounting is the process that all companies use to keep track of their spending and organize their finances so that they can have an optimal cash flow, explains Carlos Hank Rhon. Accrual cost accounting is a combination of two accounting methods into one. Accrual accounting is a method of recording all of the transactions for a business while cost accounting focuses on just the company’s production costs. Accrual accounting helps to record all of the financial transactions as they occur and improves business decision making. The only method that is not considered in this process is cash changing hands. Cost accounting records and reports all figures that are associated with raw materials within the company, production labor and all of the company overhead. This information is very important because it can assist the company in pricing their consumer goods and services. 

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The purpose of accrual accounting is that by using it, you are helping to create a better overall flow of financial information which can make your company’s financial statements much easier to comprehend, notes Carlos Hank Rhon. All types of business owners can look over and review their financial information from the past to the present and see for themselves when the costs have gone up or went down based on the volume, on the consumer demand for the products or services and based on various other economic factors that may have an impact on your company’s cash flow.

Cost accounting is considered to be a part of management accounting and therefore it doesn’t necessarily need to go along with all of the national accounting standards in order for you to be able to calculate your company’s overall production costs. This means that companies are allowed to be more flexible when it comes to tracking this type of financial information.

 

Accrual accounting is considered to be the standard accounting practice for many companies in the United States with the exception of some very small operations who do not require this extensive financial solution, notes Carlos Hank Rhon. This type of accounting method can help to provide company owners with a more accurate picture of their current financial condition however the complexity of accrual accounting can make it more expensive to implement. This form of accounting is the opposite of cash accounting which only recognizes transactions when there is an exchange of actual cash from one individual to another.

The need for this type of accounting method came to be due to the increase of complex business transactions as well as the desire for a more accurate way for businesses to manage their finances over time and allow themselves a larger cash flow to work with. Having the ability to sell on credit and business projects that will provide revenue in the future allows a company’s financial condition to improve dramatically. Therefore it makes more sense for many companies to use this method of accounting to help them to precisely organize their financial situation.

 

Accrual accounting is used to primarily measure the performance and position of a company simply by recognizing the economic events that take place regardless of when the actual cash transaction occurs. This may seem like a very inaccurate form of accounting at first but once you see this method at work you will notice that your company will have more financial freedom to work with in the end.

Carlos Hank Rhon: Advice for Delegating Business Tasks

It can be very difficult for some small business owners to let go of their responsibilities and delegate tasks out to other workers according to Carlos Hank Rhon. You take pride in being the leader of your company and know more about the responsibilities at hand than anyone else on the team does. But sometimes being the leader of a company can become very overwhelming especially once business takes off and you have more tasks in front of you than you can tend to in one day. That is when it is time to begin delegating some of your important tasks out to other people so that you can share the heavy workload and allow yourself to focus on other areas of your job.

Carlos Hank Rhon

Trusting other people to take on such roles and taking care of the company’s finances or scheduling meetings with other clients is a task that is much easier said than done, explains Carlos Hank Rhon. But as you begin to let go of some of your important responsibilities, you will soon see that it really wasn’t that difficult after all and you will enjoy the newfound freedom that you have throughout the day that you do not have to spend staring at figures and discussing new ideas with fellow colleagues. By delegating out tasks to your other workers you are providing them with the additional responsibilities that they have been waiting for that will allow them to challenge themselves to work harder and give them a feeling that they truly belong with the company.

Some of the tasks that you as a business owner may want to delegate out to your employees include managing the company’s finances, coming up with new marketing strategies, organizing the daily schedule, taking over small meetings with business teams and keeping up with the company’s inventory. Some of these tasks may seem more important than others so it is highly recommended that you take the time to delegate each task out to the right person that you believe will be able to handle the job with very few complications, notes Carlos Hank Rhon.  You can allow your employees to have as little or as much control over their new tasks as you wish, giving them a small amount of control at first and slowly working your way up to allowing them to have full control over the task at hand is a great way to get used to delegating out a task to another individual.

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You may want to interview your employees in order to find out which one would be the best to take on these new roles. Finding independent workers who do not require someone standing over them 24/7 in order to get a job completed is the best way to ensure that your delegated tasks will get completed in a quick and efficient manner with very few errors if any. This interviewing process will also allow you to find out who is more eager out of your group of employees to take on these new responsibilities. One you have several tasks delegated out to other workers you will wonder why you didn’t choose to let go of some of your work responsibilities sooner.

Content Source: Carlos Hank Rhon: Advice for Delegating Business Tasks

Carlos Hank Rhon - Financial Strategies for Businesses

Coming up with a good financial strategy for your business to go by make take a lot of time and cause you to have to seek guidance from other individuals who know more about accounting and balancing business finances, explains Carlos Hank Rhon. But once you are able to come up with a solid financial strategy for your company to go by you will be a lot better off with a more solid cash flow situation and less liabilities to pay off.

A huge part of a successful business plan is the financial side of the plan. The financial strategy for your company should include the income statement, the cash flow statement and the balance sheet. For many new businesses that are just starting out, these financial statements will only be projections however existing businesses will be able to contribute several years of financial statements as well as projections for the future, notes Carlos Hank Rhon. Along with these statements the plan should also include the financial strategies for the business and how their finances will be taken care of over time.

Cash Flow Management is an important part of any financial strategy according to Carlos Hank Rhon. The income statement and balance sheet can look perfect on paper but if the cash flow is not managed properly then a business can go under very quickly. Managing your cash flow should be a huge part of your company’s financial strategy. This should help you to determine how your company’s profits will be used in order to create more revenue. It will also identify the amount of cash that will always be in reserves or on hand as well as how all major debts are expected to be paid over time. Cash flow management includes laying out the financial strategy ahead of time so that you will be able to make financial decisions for your company easier when it comes time to write out a check for a major debt or access a line of credit.

It is important that any purchases that are made through the company no matter how big or small they may be should be detailed in the guidelines of the business plan. This will help you to determine which purchases should be made with cash, a line of credit or with a company credit card. This type of financial strategy can also help you to outline taking advantage of terms for your suppliers. If your supplier offers you a 45 day payment term, then the business will wait until the end of that term to make a payment which will be better for your company’s cash flow overall.

Your company’s financial strategy should be a general guide for how you need to spend and save money as a business, explains Carlos Hank Rhon. While there are some specifics in the strategy that could be outlined, it can be difficult to account for every type of financial scenario that you may be faced with on down the road. A good financial strategy will provide you with a strong guideline to go by so that you can direct the staff of your business in going along with the positive financial aspects of the business world from having to pay for debts and purchases to making payroll and keeping up a consistent cash flow. 

Carlo Hank Rhon: How to Put Together a Successful Business Team

A successful business team can help your company go very far and gain more profits annually according to Carlos Hank Rhon. With the right people on your business team you will be able to tackle various tasks that come your way in the business world such as handling cash flow problems or coming up with new marketing plans to help your business go far. When it comes to putting together a good business team there are several things that you need to remember. First of all you have to find the right individuals for the job. When you are hoping to complete a business project that requires various skills in order to do so, you will need to start by reaching out to your employees that you know have the knowledge and skills to take the job on with ease. As you work with your employees over the years, you will easily be able to figure out which individuals love to be challenged while on the job and which ones work the best under pressure. These are the people that you will want to have on your business team because you already know that they will be able to provide you with superior results in the end.

In order to have a successful team there are certain elements that must always be present, explains Carlos Hank Rhon. Team goals must be clearly specified which will provide each individual on the team a certain amount of focus. All team members need to be committed to the task at hand and want to achieve the goals of the team. Those who do not take responsibility for team activities will undermine the commitment of everyone else who is involved so it is very important that you always have team members who are truly committed to the job.

Successful business teams are made up of members that trust each other and can work well with one another. These people need to be able to share ideas with each other comfortably and speak up if they believe there is a problem within the group. Lack of trust amongst business team members will cause the team’s focus to shift away from the task at hand and not focus on the team goals that need to be completed. So it is always a good idea to choose team members who you know will work well together no matter what type of project they have laid in front of them.

Just as important as having trust within a business team, you must also have mutual respect amongst your team members, notes Carlos Hank Rhon. This includes respect for everyone’s views and activities as well as respect for the goals of the team itself and what the team is working towards. Choosing team members that already show respect to others in the workplace will save you a lot of time and will decrease the amount of problems you will face in the future while it will also allow your team to get to work and finish their project in an efficient amount of time. 

Content Source: Carlo Hank Rhon: How to Put Together a Successful Business Team 

Carlos Hank Rhon : Re-Financing your Commercial Loan

Many times small business owners will be faced with the issue of paying back a commercial loan that ties up all of their assets and hurts their cash flow, explains Carlos Hank Rhon. If this is the case with your company at the moment, then you may want to consider re-financing your commercial loan. After looking over your company’s financing and evaluating all of the opportunities in front of you, many times refinancing a commercial loan may seem like the only option that is available to you. And it could be one of the best decisions that you can make as a company owner. By refinancing your loan you may be able to save a lot of money with a lower interest rate and be able to pay back your loan in a shorter amount of time which will help to improve your company’s profits and cash flow over time.

Carlos Hank Rhon Business Ideas

The first thing you need to do if you are considering refinancing your commercial loan is to look at all of your existing debt and see if there is anything you would be able to get rid of, explains Carlos Hank Rhon. The length of your new loan should collaborate with the same amount of time that your collateral will be able to hold its current value. Therefore you will want to use all of your assets such as accounts receivable or any inventory that you have to help secure your new short term loan. However more durable assets like real estate or large equipment can be used to help secure long term loans instead. 

Carlos Hank Rhon Banking

There are a few questions that you may want to ask yourself before you begin to refinance your commercial loan. You will want to know what the prepayment penalty is for refinancing your current debt. It is also important that you believe that the loan terms sound reasonable enough for your company to go by. You will need to check to see how much time is left on your amortization schedule and figure up what the interest rate is for your current loan so that you know that you will be getting a good deal. Be aware that if you are refinancing any type of real estate, your savings could be destroyed by new title work or appraisals plus any origination fees or other closing costs that may come up. If the term of the amortization is lengthened along with a new lower interest rate then your business will be able to see some cash flow relief after all.

Carlos Hank Rhon Settlements

It is best to talk with a lender at your current financial institution first when you are considering having your loan refinanced, notes Carlos Hank Rhon. They already know you and understand where your company is at and what your needs are. Plus they are already holding all of your assets in collateral so this would make refinancing your commercial loan not only easier but less time consuming and more cost effective in the long run. No matter where you decide to refinance your loan, it is important to have a good, solid business plan so that you will be able to fully demonstrate the strength of your company and prove that you have what it takes to take your business to the next level of success. 

Content Source: Carlos Hank Rhon : Re-Financing your Commercial Loan 

Carlos Hank Rhon: Financial Choices for Your Business

In the world of business, they say money makes the world go round. This may be a little harsh but it is a reality notes Carlos Hank Rhon. Without the sufficient finances you cannot run your business properly no matter how well planned it is. In other words, business financing plays a huge role in the survival of your business.

Many owners and would-be entrepreneurs face difficulties as to where they can find a source to finance a new business. Here is a list of ways to finance that you might want to consider:

1. Contact friends and family. Raking in friends and family to raise funds could have a number of benefits, confides Carlos Hank Rhon. Firstly, one doesn’t have to commit to a specific time of returning money. Funds could be utilized without any fear of lock down as usually happens in case of banks and financial firms. Secondly, one doesn’t need to worry about interest on the money borrowed, explains Carlos Hank Rhon.

2. Establish a partnership with company or investors who are willing to put their money in your business, recommends Carlos Hank Rhon. There a two types of partners, the industrial partner and the capital partner. Industrial partners are those who invest their time, skill and effort in the business in exchange for a portion of the income while capital partners invest through contributing cash or property such as machinery to the partnership.

In establishing a partnership, your partner may impose a degree of control over your business besides having a portion of your income so make sure to choose a capital partner who has less demands and conditions and who you are comfortable working with.

3. Entice investors into your business. Approach possible investors and present a well formed plan that will convince them to invest. This is somewhat similar to partners. The only difference is that investors can only demand minimum control over the business compared to partners although that will depend on the level of investment.

4. Approach suppliers and make propositions. Convince them to give you supplies in a form of loan payable periodically. That way you will have your raw materials without releasing cash before you gain income.

5.  Business loans. Inquire from banks and financial institutions like Carlos Hank Rhon  for possible business commercial loans. However, not all banks support newly opened businesses. They are more inclined to extend loans to businesses that are already operating.

6. Get cash advances from credit cards. This is normally used for a quick fix of your troubles but this is not advisable for a long term solution because interest rates on credit cards can be very punitive. Try to get the introductory rates for lower interests.

7. Lease your equipment. Rather than spending your money to buy new and expensive equipment you might think of leasing them. Leasing generally reduces the amount of money you have to raise. Within the lease period make sure to save enough income to buy your own because leasing is more costly in the long run.

8. Avail of government programs. A Small Business Administration loan can be helpful in encouraging banks and institutions to extend business financing to establishments they might otherwise turn down. Generally SBA has the same conditions as an ordinary financing company.

9. Utilize your savings. It is time to use your long time savings for greater purpose. You might be a little hesitant but do not worry because if your business will succeed it will come back to you with twice its value.

10. Mortgage your property. Mortgage must be the last resort that you should consider because of the risk it can bring. If you fail to pay you might lose more than what you bargained for.

While above mentioned are some of the well known routes available for an entrepreneur, commercial lending is another option that could be well explored. A number of financial firms including Carlos Hank Rhon extend loans after studying the potential of the business on genuine rates. Such loans makes more sense professionally rather than leaning on relatives.    

Content Source: Carlos Hank Rhon: Financial Choices for Your Business

Carlos Hank Rhon Explains The Importance of Stocks, Bonds and 401k Accounts

Methods of investments such as stocks, bonds and 401k accounts are all very important to have and can each provide you with a solid investment that you will be able to count on in the future when it comes time for you to retire, explains  Carlos Hank Rhon. Choosing to invest in stocks and bonds can not only help you create a substantial investment for your own personal use but these methods of investments can also help your business to benefit a great deal as well. The first thing that you should know when it comes to dealing with stocks is to understand what a stock actually is and how the stock market generally works. You should be aware of all the minor details before you plan on getting started with these types of investments. For instance, a share of a stock is simply the smallest unit of ownership inside of a company. If you as an individual or even as a business own a share of a company’s stock, then that makes you a part owner of that company.

There are two types of stock out there however just one is used most often by individuals. These are known as common stock and preferred stock, notes  Carlos Hank Rhon. Common stock is the one that is mostly held by individuals and it makes up the majority of stocks that are held by the public. When you own part of a common stock, you have voting rights within the company as well as the right to share in the stock’s dividends.

Preferred stock has fewer rights than common stock does, except for in one very important area and that would dividends Companies that issue out preferred stocks will usually pay consistent dividends, and it is important to know that preferred stock has first call on dividends over common stock. Many investors will take a chance and buy preferred stock simply based on its current income from dividends. You should always look for companies that make big profits to use preferred stock so that they can return some of their profits back to dividends.

Bonds can usually provide you with a very steady form of income if you understand how the system works according to Carlos Hank Rhon. You have the ability to reinvest in bonds and use the money for other expenses if needed. The overall price for a bond may go up or down over time however the income from a bond will always remain the same. Municipal bonds are a great way to help generate a tax free income for you which can be very helpful to those who own their own business and wish to use the extra money for business expenses.

A 401k account is an individual retirement account that is a great method of investment which you can use for your own personal finances over time or when you decide to retire. The 401k plan is known to be a qualified plan which means that it is established by your employers who allow you to make a salary deferral contribution to your account. Some employers who offer the 401k plan in their company benefits may choose to match their employee’s contribution on behalf of the eligible individual and they may also add profit-sharing features to the 401k plan so that earnings may build up on a tax deferred basis.

Content Source: Carlos Hank Rhon Explains The Importance of Stocks, Bonds and 401k Accounts

Consideration in Forming Your Business Structure

There are four types of structures that an up and coming business can choose from – sole proprietor, LLC, S-corporation, and C-corporation. One of the benefits of hiring an accountant is that they can help you determine which structure will work best for your business.

Sole Proprietor

this type of structure is for those who work for themselves and have no partners involved with the business. This is the most common choice for those who are self-employed or who are freelancers, explains Carlos Hank Rhon.  It is the easiest to set up, with only one tax return and one bank account..........................Read More

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Carlo Hank Rhon Understanding Financial Statements

Learning how to read a financial statement does not have to be as difficult as it seems according to Carlos Hank Rhon. If you can follow directions for a recipe or fill out a loan application, you should be able to understand how to read a financial statement, it may seem to be overwhelming at times but it really is not as bad as it seems. The first thing that you should know is that there are four main types of financial statements out there. They are balance sheets, income statements, cash flow statements and statements of shareholder’s equity. Balance sheets are designed to show us what a company owns and what they owe at a fixed period in time, notes Carlos Hank Rhon. An income statement will show you how much money a company has made over time and how much they have spent out. Cash flow statements show us the exchange of money between the company and other businesses or individuals and the statement of shareholder equity show all changes in the interests of the company’s shareholders over a certain period of time............Read More

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What you should Know Before you apply for a Commercial Loan

The first and most important thing that you should do when it comes to applying for a commercial loan is to come up with a good business plan, explains Carlos Hank Rhon. Lenders who work for banks and other financial institutions want to be sure that you are hoping to start a credible business and that you have all of the necessary knowledge and skills that are required in order to run a successful business. You need to include everything positive about your business in your business plan including all of your goals, your competitors, past projected revenue and expenses, possible marketing strategies and how you intend to grow as a company. Your business plan should show why you are the best person to get this company on its feet and move forward with it into the future. After all of that you should also include an exclusive summary for your lender that will further explain what your vision for your company truly is. The summary will be the first thing that your lenders will read when they look at your business plan and it could also end up being the last thing they read from you if they are not interested right away so therefore it is important to have a steady business plan..........Read More

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Carlos Hank Rhon Understanding Your Bank Account

When it's time to open up a new bank account, it can seem confusing and overwhelming to learn about all the options that are available to you. Whether you're sticking with your tried-and-true bank, or switching institutions all together, there's a lot to learn about new accounts. While there are a number of options available to you, it's important to remember to search for the account that's best for your needs. First identify what the account is to be used for. If it's a personal savings account you'll want different services than an everyday checking account or business bank account. 

One aspect to learn about right away is the overdraft facility. Many people rely on an overdraft each month to get by, and if this applies to you then you'll want to find the bank account that has the right overdraft plan and rates for you. Be sure to check around for the best monthly rates, and ask bank account representatives if they offer any discounts or reduced fees for your particular situation.................Read More

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Carlos Hank Rhon New Trends of banking - Mobile Banking

In today world Mobile Banking is a popular term. Mobile Banking means a financial transaction conducted by logging on to a bank's website using a cell phone, such as viewing account balances, making transfers between accounts, or paying bills. It is a term used for performing balance checks, account transactions, payments etc. via a mobile device such as a mobile phone. In recent time Mobile banking is most often performed via SMS or the Mobile Internet but can also use special programs called clients downloaded to the mobile device

Key challenges in developing a sophisticated mobile banking application are:

1. Handset operability

2. Security Issue

3. Scalability and Reliability

4. Application distribution

..........Read More

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Carlos Hank Rhon: Mergers and Acquisitions

A merger or acquisition can either add to a firm worth or it can deteriorate it further. This means that there is no middle path, and this firms need to very cautious and thorough before making a buy call. A consultant is someone that brings out everything that is worth noticing in a deal; be it good, bad or ugly.

The services of an M&A consultant becomes even more crucial at present time in which no one has a penny to spare. Integration plans, primary research, follow-up, strategizing and value calculation only helps when they are being undertaken by someone with experience and meticulous nature. So, make sure to partner with the best.

The current global economic outlook continues to require businesses to take swift action to face an ever more competitive marketplace.

Companies need to identify proper strategies to face the turmoil, and unfortunately there isn’t a simple recipe.

• Market knowledge
• Ability to assess People and Businesses
• Direct Connections with Key Decision Makers
• High Confidentiality
• Prior practical experience
• …………Read More

Content Source: http://www.carlos-hank-rhon-profile.com/

Apart from commercial lending and consultancy services, Carlos Hank Rhon also has a keen interest in foreign exchange trading. Its team of seasoned investors keeps an eye for any profitable fluctuation in the international currency exchange market. Hence, there is lot of fields in which the financial firm specializes in and offers to guide its clients towards financial prosperity.

Coming back to the banking part, as elaborated above, everything is going online.    

Why Financial Statements are Important to Investors

There are certain factors that investors should pay attention to when they are looking at a company’s financial report, explains Carlos Hank Rhon. Public companies can provide a wealth of information to investors when it comes to their financial obligations over the years. But if you do not know how to read a financial statement or do not know what you should be looking for it can be very easy to get confused and overwhelmed at all of the statistics. There are various types of reports that are released by companies to investors that range from quarterly reports to annual reports and various types of press releases. One reason why there is so much information that can be found inside of these statements is because these documents are the most vital pieces of information that an investor will get from a company. By reading these financial statements carefully, investors are able to get a better overall realization on what is going on within the company that they have invested their money into, notes Carlos Hank Rhon. If you are an investor and you are starting to look over a company’s recent financial statements, there are a few things that you should always take a closer look at.

The earnings and revenue growth of a company is one of the most important things that you should look at if you are an investor. This is the bottom line and will tell you how much a company earns over a specific amount of time and if it is boosting its sales from one quarter to the next. This will also inform you if a company is on a growth spurt or facing a potential decline in the future. The key factors that can help determine how much a company is worth can be found in the earnings and revenue growth statements. You will be able to get this helpful information from various resources such as the company’s press release statements, the quarterly reports (10-Q) or the annual reports (10-K). These reports will have all of the critical financial statements that you will need which will include the balance statement, the income statement and the statement of cash flow. Which are all very important factors that you should look at very closely as well.

The overall cash flow and cash flow trends of a company should be looked at carefully when you are an investor, explains Carlos Hank Rhon. There is a difference between what a company says that it has earned using basic accounting methods and how much a company actually makes. Cash is always referred to as money in hand and not the result of any type of accounting measurements as in the case with net income and other forms of earning. When a company’s net income is higher than its cash flow, investors want to know about it and find out the reasons why. Therefore understanding the cash flow situation for a company is key when it comes to what investors need to look out for.

Just as many individuals do on a regular basis, many companies both large and small can go overboard with borrowing too much money and get over their heads in debt. Debt is not necessarily a fatal thing for many companies however it is important that a company is able to generate proper cash flow in order to make up for the debt payments that need to be made. It is important for investors to fully understand how much debt a company has and how they plan to pay off that debt before they decide to invest any amount of money into the company. This will require the investor to examine the company’s balance sheet and income statement as well as some other financial documents.

For more details, please visit: http://carloshank.wordpress.com/2012/07/14/why-financial-statements-are-important-to-investors/

General Business Leadership Information – Strategies for a Successful Company

Being a good business leader requires having the creativity and knowledge that is needed in order to create good business strategies for your company to grow with, notes Carlos Hank Rhon. Strategizing with new marketing plans and techniques or coming up with ways to expand your business will allow your company to grow in so many ways and you may be surprised at some of the positive results that you receive. Being able to construct good strategies for your business is the key to remaining successful throughout the years. And knowing how to hire on other professionals who are able to contribute positive business plans to your company is another trait that a quality business leader should always have.

Coming up with a good marketing strategy can help your company to rise to its highest success level to date, explains Carlos Hank Rhon. In order to come up with a marketing plan that can help your business to succeed, you will need to understand the importance of sticking to company’s original mission statement and staying true to the goals that you had hoped to achieve from the very beginning. If your business is centered on family values and providing quality products that can help modern families live happier, stress-free lives, then your marketing strategy will need to focus on that fact.

Once you have realized that your company’s values are the backbone to your marketing strategy and everything you will be putting into it, it is then time to strategize and find out who you will be marketing your products or services to. This involves finding out who your target audience is so that you know you will be providing information on what your company has to offer to the people who will be the most interested. A target audience is made up of the people who are most likely to purchase your products or use your services. In order to gain their attention, you will need to find out more about this group’s interests, hobbies and everyday needs. If you can form your marketing strategy around your target audience then you will be well on your way to having a successful marketing plan.

Another marketing strategy that you may have in mind for your company once you have become well-established in the business world is the possibility of expanding your business, says Carlos Hank Rhon. Whether it is by opening up new branch offices or stores in other parts of the country or if you would like to take on manufacturing additional products that would go hand-in-hand with the products or services that you currently offer, business expansion is a type of marketing strategy that requires a lot of planning, patience and plenty of skillful workers who can work together to come up with new and innovative ideas that will help your company to grow into the large corporation that you had always imagined it could be.

Putting together a team of workers whose main priority is to come up with new marketing and other business strategies for your company is highly recommended to any type of business that is just starting out. By gathering a handful of smart and determined minds in one room to come up with fresh marketing ideas and business plans that can help improve sales, you will be providing your business and your customers with the highest quality service and well-manufactured products that you possibly can.

For more information please visit: Carlos Hank Rhon

Carlos Hank Rhon – Q and A for Business Finance Planning

Business financing should be carefully planned long before a particular project takes place. The success and longevity of a business by definition will depend on its carefully chosen Financial Structure, explains Carlos Hank Rhon. Let’s do it one step at the time.

First you need to know exactly what you are planning to do:

- Start a new business

- Explore opportunities for an existing business

- Buy a competitor

The second question you should ask yourself:

Do you have enough capital or you need to obtain an additional financing for your project?

If you require financing and you want it to fit into your business structure, you need the right financing at the right time.

In order to appraise your business financing needs ask yourself the following questions before seeking financial assistance:

Q. How soon do you need the money?

A. In order to get the best possible terms for you financing it is always a good idea not to do it in a hurry, to have a time cushion and to be thoroughly prepared.

Q. Have you evaluated you business’ risk?

A. The more risk you have the less favorable terms or financing you will get. If you do not have enough knowledge on this topic, you can hire a finance professional to do that.

Q. What is your business development stage?

A. Start ups are more vulnerable and need more cash than established businesses.

Q. What is the purpose of this loan?

A. Start up, business opportunity, etc.-You will have to define it to any borrower.

Q. Do you have a professionally written business plan?

A. The most important information any lender will require for financing is a business plan (your business plan must evaluate your business and show your ability to pay back a loan).

Q. Which industry your business belongs to?

A. It is much harder to get financing for depressed than for stable and growth industries.

Q. Is your business cyclical or seasonal?

A. Loans designed for cyclical industries, such as construction, are usually issued with a longer terms than loans for seasonal industries.

Q. Can you show a strong management team that has enough experience in the industry to convince lender to give you a loan?

A. The answer should be yes, otherwise chances of getting financing is very low.

Before seeking financing please become knowledgeable on the topics above. The knowledge will help you when you work with lenders and will give you a competitive advantage against you competition.

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