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Monthly Archives: May 2008

Tech Companies – Not For Your Grandfathers Bank

One of the questions I see the most is “why are banks so reluctant to loan to a technology company?”  Where there are several answers for this, but the main one is “they don’t like things they can’t get their hands on.”  Banking today has come far from what it was 10-15 years ago.  Mobile banking is starting to take shape, online accounts are at an all time high, and electronic transfers are becoming popular among all age groups.  So why are they still afraid to loan to a tech company? Read More »

Taxaphobia – The Fear of Taxes

“The nation should have a tax system that looks like someone designed it on purpose.”

~William Simon

 

Why are people so afraid of the subject of tax?  Everyone has to pay them, some how or another.  It doesn’t help AT ALL to plead ignorance.  I’ve been noticing an upward trend the last few years about people who just “assume” to be knowledgeable about taxes.  If you dig deeper you’ll find that there were questions that were never asked.  Or somebody did something at another company and thought the same situation applies.  I could go on and on…

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Time Wasted vs. Ethical Decision Making

It must be human nature, but people always look for shortcuts, especially when it comes to government standards and ethical boundaries.  I do contribute this a great deal to performance.  The sales person trying to get that last sale in before the deadline, money that is hidden for taxing or transfer purposes, contracts not following guidelines, or the manager trying to slide something past executives because he feels it will never come into play.  The list goes on and on…  We all want to perform well, but the hidden penalties are often not worth the time or effort. Read More »

Margin and Markup and two different things!

I know they both start with “M” and they both are used pretty frequently together.  Other then that, they have entirely different meanings and one can hurt the other.

Margin: The percentage margin is the percentage of the final selling price that is profit.

Markup: A markup is what percentage of the cost price you add on to get the selling price. Read More »

Read the fine print on the contract!

I review contracts frequently.  It’s part of my job.  I’m not a lawyer, but I need to protect my company.  I have an understanding, through a finance and accounting basis, that I am obligated to protect.  Aside from that, I also feel that businesses have to apply common sense and basic protection with any contract they enter into.  As my expertise and knowledge has grown, I have found there are 3 types of mentalities that people fall into when it comes to contracts. Read More »

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