Wednesday, September 23, 2015

4 Benefits of Volunteering Your Time to Community Service

Volunteering your time to community service has a beneficial outcome on the community and for you as well. Helping the community and other people offers numerous advantages. For instance, it can help you to know more about yourself and even help you to discover your passion.

The benefits of volunteering your time to community service include:

You will gain valuable life experiences and skills

Whether you volunteer your time at a local health clinic or you build shelters for the homeless, you will gain valuable experiences and develop valuable skills. You can also explore your career interests by volunteering your time.

You will meet interesting people

You can gain insights from the people you are helping, and from your fellow volunteers. Regardless of the caliber of people you're working with, you'll see that they have information and a different approach to issues that can inspire you.

You can get academic credit by volunteering your time

Some schools offer scholastic credit for humanitarian effort through service learning. Speak with your school counselor to find out if your school offers such.

You will have the opportunity to make a difference

When you volunteer your time to community service, the little help you offer can make a big and lasting impact on the community.

Decide on the amount of time you can commit and what really interests you before you volunteer your time.

Stephen Souky is an active member of his local community. He is a volunteer for Grace Fellowship Church, as well as, City Mission of Schenectady; a non-denominational Christian ministry dedicated to serving the poor and the homeless. 

Wednesday, September 16, 2015

4 Crucial Decisions Entrepreneurs Make

An Entrepreneur is the operations manager, the human resource director, and the marketing manager at the same time. Entrepreneurs are confronted with a lot of choices to make, and some of these choices are more crucial to the success of the business than others. 

1.                   Business finance decisions

Entrepreneurs continually makes a lot of choices when it comes to business finances. For new companies, choices about how to finance the business and the most suitable source of financing are critical. For an existing business, choices about how to manage cash flow and secure resources are equally important. 

2.                   Business structure 

Legitimate business structures incorporate sole proprietorship, partnership, and limited liability corporations. Each of these business structures has their own features and obligations. Structural decisions are long term choices and they entail a great deal of risk. It incorporates decisions about developing new products or getting into strategic alliances. 

3.                   Work force 

An entrepreneur must make decisions about selecting and employing a competent work force. The entrepreneur must set criteria for hiring the most competent workers. Entrepreneurs should also make decisions on job expectations, roles and obligations. Also, the entrepreneur has to determine the remunerations and benefit structures for his workers. 

4.                   Operational decisions 

Entrepreneurs need to make decisions on how they will manage the business. Operational decisions incorporate picking the right suppliers, and the appropriate strategy for distributing and marketing the product. 

These four decisions are crucial to the success of any business. 

Stephen Souky is a Controller at MHC. He is an experienced accounting professional with more than twenty three years of success in a variety of senior level management positions. He is the President of the Niskayuna Girls Basketball Team and AAU programs.

Friday, September 11, 2015

How to Evaluate a Business before Making a Purchase

You need to gather enough information in order to make smart investment choices.

Here are six things you ought to consider when you are evaluating a business:

1.                   The financial statement 

It is very important to check the financial statement of the company. Check the asset reports, profit and loss reports, and any other income statements for the last 3-4 years. 

2.                   The tax record

Check the income tax returns for the past 3-4 years; this will give you an insight of the business’ profitability. 

3.                   Evaluate the assets

Check the plant and the installations to know if they are in good working conditions. Also, conduct a stock valuation to determine the measure of stock available and its present worth. 

4.                   Know the Clients and Suppliers 

Get the database of key clients and suppliers that are vital to the business.

5.                   Find out why the proprietor is selling

It is good to know why the owner of the business is offering to sell, and the number of offers that has been made.

6.                   Check the legal rights and obligations 

Get information about government regulations that apply to the business and whether the business has the necessary license it needs to operate. 

Finally, do not make a purchase until after you have diligently conducted the business evaluation, and you are convinced that the business will have a good return on investments. 

Stephen Souky holds a Bachelor of Science degree in Accounting from the State University of New York at Fredonia. He has built a successful career on the foundation of strong accounting, team leadership, and communication skills.