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Wealthification Debunks One of the Biggest Myths in Business
In his recently launched business success product Wealthification, Internet business authority James Schramko attacks a popular belief about increasing profit, referring to this as one of the biggest myths in business.
We’re in business to grow a customer base and the by-product generally is money; that’s why we have a business. Hopefully, you’ll be making a profit instead of a loss and this will be a fantastic outcome for you.
Sydney, Australia March 08, 2012
Recently launched in February 25th of this year, Wealthification by online business expert and coach James Schramko enjoyed a great reception and continues to garner enthusiasm from entrepreneurs. The business success product consists of 10 modules presented in video format with accompanying mp3 version and PDF transcription. Toward the end of the training, Schramko debunks a popular business myth involving the common way to calculate and increase profit. This is just one of the concepts covered in the 9th module, which tackles cashflow, something which is always relevant no matter the size and scale of a business. After all, even if a person is just starting a small business, the money component is still something that he or she needs to get right.
Schramko pronounces this particular module as one of his favorites in the course and gives the following reason: “Because cashflow is what this is all about. We’re in business to grow a customer base and the by-product generally is money; that’s why we have a business,” he explains. “Hopefully, you’ll be making a profit instead of a loss and this will be a fantastic outcome for you.”
In Cashflow, Schramko presents various checklists and formulae to aid students in gaining a better understanding of the money side of the venture. It is definitely an exciting topic as it involves a tangible and important evidence of asuccessful business. After all, at the end of the day, it all goes down to the bottom line.
Many times, entrepreneurs succumb to an arrangement that has them being paid in arrears and this could prove to be fatal to a business. “If you run a business where you have to do work and then get paid, that can be dicey and you’ll increase the possibility of incurring bad debts. So if you want to eliminate bad debts, then what you want to do is to set up a business model where you get paid first,” Schramko advises.
Cashflow is certainly packed with many invaluable tips to keep the financial state of a business healthy. It covers such topics as pricing, conversions, timing, analysis, etc. Before you get to this point though, Schramko lays down the groundwork to equip students with the necessary tools for getting the other aspects of business developmentright. Other course modules are Introduction, Assets, Structure, Strategy, Marketing, People, Systems, Action, and Exercise. The entire training package is priced at $99.
