Welcome to Unit 8 Review of Units 6-9. Unit 6. Money Matters. One of the most important matters that can affect every business is money- Where it comes from (income), Where it goes (expenses), and How much do you need to stay in business. Where does the money come from?.
One of the most important matters that can affect every business is money-
Income can come from:
Every business has
Variable are expenses that change proportionately to a change in business.
Expenses that change with business volume but not to a great extent.
A balance sheet is a financial statement detailing a company’s assets, liabilities and owner’s equity.
Assets are office supplies owned by the company, money in a bank account, or money owed to the company.
Owner’s equity would be the amount of money that owners would receive if they sold all of a firms assets and paid all of its liabilities. This could come from shares of stock and dividends in larger corporations.
A balance sheet shows a company’s financial condition at one point in time.
A balance sheet will tell if a company has enough money on hand to pay bills and if the assets are used efficiently, if there is cash to meet liabilities and how profitable the company is.
No commute time, business clothes (unless meeting a customer) and no gas for a car!
While working from home an agent must be able to have relationships with others in the industry in order to conduct business transactions.
NACTA (National Association of Commissioned Agents)
OSSN (Outside Sales Support Network)
No matter what business a person opens it is helpful to have a business plan.
2. The business concept- what is the niche, who is your competition, concerns for seasonality or a slow market and how you will handle these issues.
3. The mission statement. This is the purpose of the business.
Objectives of the business- what are the goals of the business and what are your expectations for long term goals.
5. Income projections-do you need funding from a bank such as a loan. What are the 1 year and 3 year business incomes? Other expenses?
6. The business name. You will have to make sure the name is free to use and not held by another company.
A lawyer or accountant can help to set up corporation papers or other legal documents for a business.
What are some of these documents?
Office space must be set aside and used completely for business in order to take as a tax deduction. If you work off your dining-room table this won’t be considered as an office.
Desk and chair
Shelves for travel related books.
Have an answering machine or voice mail with a professional sounding message.
Finding a Job
The purpose of this lesson is to begin the process of targeting your job search.
The purpose of a successful job search is more than just deciding on what your ideal job is.
A job such as a reservationists or sales represented that primarily does work over the phone.
You do not meet the customer directly however, you must still have a pleasing personality and voice in order to make the sale.
This job involves contact with the customer and could be the travel counselor, a food and beverage manager at a hotel, or a convention manager.
This job is one directly involved with the customer as they travel and deal with customers face to face.
These are hotel desk clerk, tour guide, ticket agents, flight attendants to name a few.
Often a person has big expectations for a first job; but, this job is one that you use as a stepping stone to other possibilities.
Some things to think about are:
What experience will you gain? Use this job to learn more about your field of interest.
It is a summary of your "occupational self" on paper.
Wilbur (Bill)Street addressCity, State (spelled out), and zip code(Area code) and telephone number
Active in Local Church Activities.Member and Vice-President, County Daycare Center Active in Local United Way Annual Fund DriveMember, Forsyth Chamber of Commerce
Member, National Restaurant Association, 1987 to Present
University of Missouri-Columbia Alumni Association, Member
Parent Teacher Association, Greentop Public Schools, 1992 to 1995
Where are some places to begin to look for a job?
The first paragraph tells the reader the purpose of the letter and states the position you are looking interested in applying.
The purpose of this unit is to prepare you to move forward and focus on your future career goals.
Building a Career
And of course there is food service both commercial and non-commercial foods.
Do you know the difference?
Hospital, schools, prisons, business and industry cafeterias
Following principles of proper conduct, professionalism, honesty, and integrity.
In many cases it is not against the law unless it also involved a violation of civic law such as stealing or identity theft.
Page 391 of the text has a code of ethics for members of ASTA.