Financial Wisdom
Financial management is the cure for financial struggle!
“The definition of happiness is to earn a dollar and spend 99 cents. The definition of catastrophe is to earn a dollar and spend 1.10 dollars”.

You can be debts free, all what you need is financial wisdom. Follow these tips and your life will take a new shape.

Don’t spend more than you earn.
Don’t buy things you don’t need.
Have a budget plan.
Have a savings culture.
Examine your expenditure and cut out unnecessary items.
Increase your income (several streams of income).
Learn about compound interest.
Plan to pay off your debts.
Make Investments.
Have a retirement Plan.

See you at the top!
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……Creating Future!

Agbaya why u wan earn $1 to spend 99cents.
You wan carry nylon enter village for xmas.

Royalmorn consults is an organization that helps companies to develop, manage and set up their Financial and Administrative Structures. For more than a decade, we have been dedicated to helping companies all across the world to explore their unique advantage and transformative influence and now they are capitalizing on this revolution at a global emergence.
Having a comprehensive knowledge on organizational structure and an understanding of the role of Business management, Royalmorn Consults provides you a standard administrative structure and good strategy development in business management.


HOW WE ADD VALUE
We offer the best administrative Structure and Services
Special Refreshment courses / training for company staffs.
Creating strategic financial structure that guarantees great returns.
Providing Skillful and Competent Staffs (Staff recruitment).
Organizational branding.
Strategic marketing.
Internal Audit.
Royalmorn Consults has helped every of our clients find the strength they need to transform their services delivery, their product and their brand.
Contact us:
www.royalmorn.com
admin@royalmorn.com
royalmorn@gmail.com
09024779142.

After a drilling screening and interview process,I am one of the lucky individual to get this job from royalmorn consults.thanks and kudos to royalmorn,I appreciate it...

How to start a new business
We have recently discussed career paths in entrepreneurship and corporate business. Today we are going to look at the things that concern people starting a new business.

Imagine you are about to start a new business. What should be your main concerns?

1. Getting Customers and achieving sales.
This is undoubtedly the single biggest issue facing any business. It has been said that businesses face two problems;-

A) Sales
B) Everything else


While this seems trite, it is definitely true. If the business has robust sales, then everything else can be fixed. If it doesn’t have adequate sales, then the business is in serious trouble, in fact there really isn’t a business.

So the first concern has to be attracting new customers, and retaining existing customers. Developing a “route to market”, a marketing and advertising campaign, and, probably, building a website.

The route to market that you choose will depend on your business and your target market. Consider online techniques including search engine optimization, pay per click advertising, social media marketing. Also consider offline techniques such as newspaper and magazine advertising, posters, and leaflets.

This should be clearly defined and planned in detail before you launch the business and start incurring overheads. Your business plan should be written before you do anything else, and this will address all these issues.

2. Raising capital
Almost every business will need cash to start off with, whether it is to buy stock, lease premises, or just to support the owner until a profit is made. Potential investors will want to see a business plan and cash flow forecast.

The usual routes to raise finance include using savings, or personal credit lines. Friends and family may also invest, and banks are a traditional source of funds. These days crowdfunding presents new opportunities.

There is a balancing act here – not committing yourself to too much debt, but also not under resourcing, which can restrict trading.

3. Cash flow
It is cash flow problems that spell the end for many businesses, so it is important to sort out your cash flow budgeting, planning and money management.

Almost all business need some cash to get started, so you need to consider how to raise that. Are there any loans or grants available?

Banks or investors will need to see your business plan and satisfy themselves they will get a return on their investment, so be sure you have a robust plan in place.

Getting paid is an important part of cash flow, and more difficult than it sounds, so set up a good Credit Control system.

4. Company structure and Legal Protection in the event of business failure.
The Company structure you use for your business is important. It has an effect on the Director’s personal liability, the potential to raise funding, affects tax liability and the reporting the company is expected to carry out. Assess, the advantages and disadvantages of each structure, and what will work best for you.

If you have set up as a limited company with limited liability then generally your personal assets are not at risk. But as a director you must still act within the law and run your business in a responsible manner. But if the business does fail, debts will be written off, as long as you have not personally guaranteed them.

But if you are operating as a sole trader, as you are personally responsible for any losses the business incurs. So your personal assets are at risk. This is the main reason people choose to form a limited company.

5. Accounting, Bookkeeping and Tax
The main concerns are understanding your responsibilities, knowing when to complete accounts, and planning how to record income and expenditure. Make sure you keep all your invoices and receipts. You need to either employ an accountant or use an accounting software package. Again you may need advice from an accountant about local tax issues and the most tax effective way to structure your company.

6. Insurance
The insurance you will require depends on the type of business you have, and the legal requirements in your region.

Most businesses should have general liability insurance to cover against legal issues relating to accident, injuries and claims of negligence.

If you have employees, you may need employer’s liability insurance.

If your Business is selling products, you may need product liability insurance; if you are selling services, you may need professional liability insurance.

If the business owns property, you may need commercial property insurance.

If you work from home, you may need additional home-based business insurance if your normal home insurance policies do not cover business use.

7. Recruiting Staff
This is a big step, so be sure you really need to employ someone and that the business can support the expense of payroll, and additional responsibilities of ensuring you meet minimum wage level requirement, Employers Liability insurance, complying with current health and safety requirements in the work place , employment contracts, registering with the tax authorities as an employer….etc.

Consider hiring freelancers or agencies to do the work for you. This may look more expensive, but be less of a risk and problem, and avoids long-term commitment.

8. Business Premises
Depending on your business, you might be able to work from home, and this can be very helpful in keeping overheads low initially,
It could affect your mortgage and insurance policies, and you may need to take additional home-based business insurance.

If you need an office or business premises then consider location carefully. Think about whether you want it furnished and serviced. This will be more expensive but will leave you free to concentrate on the business.

9. Trademark Protection and intellectual rights
Registering a limited company name prevents other people being able to set up a company using the same, or similar, name. It does not give you any trademark rights on that name. A trademark is a sign that distinguishes goods or services

If you do protect your name or logo as a trademark, this will prevent anyone else from being able to use it without your permission. Registering the company name as a trademark can be a lengthy and costly process, and varies according to your region.

Intellectual Property
Intellectual property (IP) refers to something developed using human intelligence, such as inventions, literary and artistic works, designs and symbols, names and images used in commerce.

IP is protected in law by patents, copyright and trademarks. This ensure that the creator of the IP can be recognised as such, and can derive income from their inventions or creations.

Copyright
Copyright describes the rights that creators have over their literary and artistic works. Works covered by copyright could include music, film, video, books, paintings, sculpture, computer programs, websites databases, advertisements.

A patent is an exclusive right granted for an invention. If a product is patented, then the patent owner has the right to decide how, or even if, the invention can be used by others, and they have the right to charge for that use.

A downside of this process is that the patent owner must make technical information about the invention publicly available in the published patent document, as they have to specify exactly what aspect of the product is protected by the patent.

This can lead to copycat versions, as the patent will only apply to a specific part of the invention or process, and variations will not be covered by the same patent. For this reason many are reluctant to use patents.

10. The Future of your business
Before starting a business, you should have investigated your business idea to ensure it is sustainable in the long-term. However market and economic conditions do change, and nothing is certain. Many businesses need to evolve to survive.

A limited company can be dealt with in your Will, allowing you to state what you would like to happen to your business when you pass away. If you are a sole trader the situation is more difficult, because there is no registered business as a legal entity to pass on to heirs. A lawyer or accountant can help you with this.

Top of the day!

Build a Business, Not Just a Client List

One problem with approaching your work purely in terms of “getting more clients,” is that it means you will always have to get more clients. If you don’t work, you don’t have billable hours, so you don’t get paid. Time off will always feel like money down the drain. If you’re not careful, you’ll find yourself on a treadmill, unable to get off. Spend too long on the treadmill and you’ll risk burning yourself out.

Another problem is that you will expend all your energy and creative talent on other people’s projects. And what will you have to show for it? At best, a great portfolio, client list, and testimonials. But if you want to keep eating, you’ll need to keep working.

This is the classic dilemma described by Michael Gerber in The E-Myth – sole traders start out with dreams of independence, but find themselves trapped by their own business. They spend all their time working in the business (doing client work), instead of on it (building the business).

The solution is to stop thinking like a “freelancer” and start thinking and acting like a creative entrepreneur. This does not mean you need to get VC funding and take on an army of staff. The opportunities created by the internet mean you can carry on as a one-person outfit or micro-business. What it means is that instead of just working for hire, you start creating business assets whose value will increase over time.

If that sounds a bit daunting, consider these four types of asset, that are within the reach of any solo operator:

1. A Brand – create and project a professional and consistent image.

Designer and developer Nick Cernis could operate under his own name, but instead he blogs as Modern Nerd and sells his iPhone apps under the name Spiffing Apps. His websites’ design and copywriting are consistent, memorable, and unmistakeable. And because Spiffing Apps is separate from Nick Cernis, he has the option of selling the business in future, allowing the next owner to inherit the goodwill and reputation associated with the name.

2. Online Properties – build digital real estate that grows in value over time.

David Airey is an independent graphic designer. Since 2006, he has been writing a graphic design blog at DavidAirey.com, and more recently at LogoDesignLove.com. He ploughs thousands of hours a year into his blogs. Hours he could have spent working for clients or hustling for new business. But now he doesn’t have to hustle for business any more. Clients come to his Edinburgh studio from as far afield as Japan and Canada. His blogs have also secured him a book deal with respected imprint Peachpit Press.

3. Permission Assets – build lists of contacts who want to know about your ideas, products, and services.

According to Seth Godin, permission marketing is “the privilege (not the right) of sending anticipated, personal, and relevant messages to people who actually want to get them.” A permission asset could be an email list, a blog subscription list, a Facebook group, or a following on Twitter. Every day, Hugh MacLeod sends a cartoon to the folks who subscribe to his email newsletter. They are free to print it themselves or buy a high-quality, limited-edition print from the artist. Enough of them do the latter to make it a very rewarding enterprise for Hugh.

4. Products – turn your knowledge and skills into physical or digital items for sale.

GIVING YOUR BUSINESS A COMPELLING FUTURE (Series One)
Business Record:
A business record is a written evidence summarizing a transaction carried out by a person in his business at a given time or over a period.
Business records are normally kept in books in an organized form or in an electronic format.
Why should I keep Records?
Keeping business records is a very important aspect of managing your business. Record keeping helps you in managing your business better.
• It helps you manage changes and improvements in your business.
• It gives you the information you need to run your business and help it grow.
• It helps to maximize all the expenses you claim and reduce your tax obligations.
• It helps you to identify the strengths and weakness in your business.
• It will help you plan to meet financial commitments such paying creditors.
• It makes it easier to prepare your account at year-end.
• It will serve as bail-out, when you are investigated.
• To separate private transactions from that of business undertaking.
• To identifying easily and correctly whether your business is making a profit or loss.
• Providing a basis for preparing meaningful statements of accounts for the business and for carrying out audits.
Every business must keep records. Make sure you keep all documents that contain details of payments, receipts, credit purchases and sales, assets and liabilities. Should be in case, you are not able to get or obtain a receipt for an expenses make a note to back it up then record the details.
To set up financial structure for your business:
Contact us:
E-mail:admin@royalmorn.com or royalmorn@gmail.com
Phone number: +2349022779142, +2348130146768
Website: www.royalmorn.com
Facebook: www.facebook.com/royalmornconsults.
Twitter: www.twitter.com/royalmorn.
LinkedIn: www.linkedin.com/royalmorn.
Google+: plus.google.com/108597483112937744870

To succeed in a highly competitive marketplace, you must develop marketing plans as business owners that will align your customers and differentiate you from your competitors. Without innovative strategies, business owners will struggle to create value and generate growth for their businesses.
Royalmorn Consults is designed solve this major problem by creating well package STRATEGIC MARKETING PLANS that will generate value for your business and take it to the new level.
Contact us today:
E-mail:admin@royalmorn.com or royalmorn@gmail.com
Phone number: +2349022779142, +2348130146768
Website: www.royalmorn.com
Facebook: www.facebook.com/royalmornconsults.
Twitter: www.twitter.com/royalmorn.
LinkedIn: www.linkedin.com/royalmorn.
Google+: plus.google.com/108597483112937744870

GIVING YOUR BUSINESS A COMPELLING FUTURE
KINDS OF BUSINESS RECORDS
As a business owner you must keep proper records to enable you calculate the profits of your business. And also you must keep business record which provide enough details on all the transactions undertaken at any given time. To confirm your calculations, your business records must include the following:
• Receipts and payments, or income and expenditure
• Fixed Assets Records
• Bank Transactions – e.g. bank statement. Bank transactions are kept in the cash book.
• Sales and purchases books
• Personal Drawings
You must also keep records relating to all your business, including:
• lists of debtors and creditors
• stock (Inventory)

FINANCIAL PROJECTION FOR 2016
If you want to make 2016 count don’t wait until January to get started. Start working through everything that needs to be done and go for your goals. It’s time to make a commitment to change thing in your finances. 2016 can be the year you achieve those important goals. There’s no success that comes accidentally, there are definite steps to take.

Operate budget
Budgeting is one of the best things you can do for yourself and your business. Of course, budgeting can be seen as tedious to many people. If you want to keep best financial structure, make it a game.
• Set aside time each month to see how you’re doing financially and stick to it.
• Set a reminder in your phone and make it fun.
• There must be a budget review every month.
Multiply your income
One of the way to make financial breakthrough in 2016 is to have multiply stream of income.
• Be innovative
• Generate more ideas.
• Go for partnership
• Go for refresher courses

Track your spending
Tracking your spending is a great way to understand how you handle money and what you value most. This is something that has to be done every day.
• Get a little notebook and record all your daily expenses as individuals.
• Make sure you have an accountant they document all your expenses in your organization.
• Follow all procedure reduce on necessary spending.

Cultivate saving nature every month
The best way to do this is to have your saving deducted from your bank every month whether as individuals or business owners. If you wait to save whatever you have left at the end of the month, it will often be gone.
• Pick a certain percent (%) of your Income or profits.
• Have a standing order and stick to it.
• Make the account inaccessible for some period of time.


Plan to offset debt

In order to pay off debt quickly, you need to spend less and follow these steps:
• Calculate how much you owe.
• Make plan to offset it.
• Figure out where you need to cut back.
• Add some extra income.
• Keep yourself accountable.

We wish you a glorious new year.

OLUWAFEMI ADEYEMI
ROYALMORNCONSULTS

Happy New Year. Welcome to the future, aka 2016.

We say a big thank you to all our esteemed clients for your ever patronage throughout the year 2015.
I want to challenge you to not think small this year as a business owners. This is your season to dare big things for your organization. It is time for your business to move forward.
We plan to accelerate our growth even further in 2016 by introducing many new services and accounting packages.
We would like to remind you about our ongoing special offer. 45minue free refresher/staff training for your organization.
May this Year be more successful and joyful for you.
Thank you for choosing Royalmorn Consults. Once again Happy New Year.


………… Creating future

It would be difficult to build wealth without saving something each month. Determine your commitment to save certain per cent (%) every month.

Success happens when you make a good plan and Implement it.
Our economy is going through a tough time. Recent data from the National Bureau of Statistics indicated that the economy contracted to about 0.36 per cent in the first quarter of the year, the first time in over a decade. Experts say the economy might shrink again in the second quarter which ends in June, a development that will effectively usher in recession in the economy. A country is said to be in recession when its economy shrinks in two consecutive quarters. As a business owners this is the time to re-strategies and make good plans. Don’t play the blame game, Focus and think through on the solution and improve the quality of your products or services. So you can escape this “imminent recession”.