I started Proforma. I grew Proforma. But the story of Proforma’s success must be shared with many people that mentored me over the years. Do you have a mentor? Do you have anyone who has been over the speed bumps you are going through and the speed bumps that lie ahead of you? Fortunately, I…
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Question: I have sales reps that I pay based on gross profit. Can I do these reports in QuickBooks? Answer: Unfortunately, no, QuickBooks does not calculate gross profit by sales rep for non-inventory items, which is 98 percent of our industry. I am working on a solution to this problem for some of my clients,…
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In business we must continually plan, execute and evaluate. 1. Plan: Most business folks have some sort of plan. Some have long-range plans. Some have annual plans. Most have at least a “to do” list to help plan their day. 2. Execute: Most business folks also execute. The key to good execution is good planning.…
Read MoreThe 4th of July is when we Americans celebrate our independence, our freedom. As you prepare your celebrations, let me encourage you to reflect on these two questions: Are you truly independent? Are you truly free? Most distributors with whom I speak don’t seem very independent. They seem to be bound by all of the…
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Question: Do I need to make changes to my supplier’s PO to match the supplier invoice? Answer: Yes, and making this adjustment is a standard and absolute best practice in our industry. The supplier’s invoice almost always differs from the original purchase order, and it is the final invoice numbers that need to be correctly…
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If you are seeking to elevate your success and happiness in your life and in your business, I recommend you evaluate the chart below and find more time to do those things you enjoy. We all have things we enjoy doing. Some we do well, and others may require more learning and practice. As seen…
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Question: I have a few company files set up in QuickBooks Premier from businesses I started but no longer run. How do I delete them from the list of companies to open? Answer: These companies can be hidden but technically not deleted. Select “File,” “Open Previous Company” to see the list of all the companies…
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Most distributor owners started their own business because they had a dream of making more money and having more fun than working for someone else. However, for many distributor owners, those dreams have turned into nightmares. All the responsibilities of business ownership can be very exhausting, distracting and no fun. Business owners not only have…
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Question: I use QuickBooks Premier for my distributorship. I also run another small business. Can I use my QuickBooks program for that, too, or do I have to buy Premier again? Answer: You can set up another company or companies in QuickBooks Premier at no additional charge from QuickBooks. You do not have to purchase…
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How do you spend your lunchtime? Many distributors and sales reps think lunch is a great time to eat a sandwich at their desk and catch up on their work. In my view, this is an incredibly bad use of the potentially most valuable part of your day. We are all in the relationship business.…
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