7 Barriers to Power Point Presentations That Your Audiences Don’t Hate

Do you automatically open your Power Point templates every time you get ready for a business presentation or speech? Power Point has become the medium of choice of speakers giving business presentations today yet most audiences will say they don’t like it.

Here are 7 common barriers to making your Power Point presentations work for your audiences and how to overcome them.

The starting point for every presentation you write is to ask the question: “What does the audience care about?” The answer must be about a pain or difficult situation they are facing and how you can help them face it. Once you know the answer, you can overcome the barriers to bad Power Point presentations.

#1) Too many bullets: You load your slides with bullets because you don’t want to forget something that the audience needs to know.

Solution: Be ruthless in examining whether they really need to know it all. They will not be tested on your content. Remember these sayings still apply: “less is more” and “a picture is worth a thousand words.”

#2) Bullets are too long: You write full sentences with two or three thoughts in each one.

Solution: Make your bullets short and comprised of only nouns and adjectives. “Highest quality help desk” says a lot more than “We offer highly trained help desk staff and the help desk is staffed 18 hours per day.”

#3) Complicated graphics: your graphics depict every detailed step you would talk about if you were training someone in the process.

Solution: Get way to up to 50,000 feet. Your audience will get the lay of the land. Then you spend your speaking time making the full story interesting and compelling and based on your expertise.

#4) Too much information: you are presenting not teaching

Solution: Go back to your answer to the question “What does the audience care about?” Then only give them the information that provides a solution to the thing they care about. No history or an overview or the background. Just the content that is narrowly focused on addressing their current problem or issue.

#5) Special effects: the IT folks who developed Power Point get their job satisfaction from creating more bells and whistles.

Solution: Special effects belong in movies not in your presentation. They force you to distort your expertise and ruin your ability to deliver a compelling presentation that works for your audience (see “What does your audience care about?”). Keep it simple-no builds, no flying text, just lots of white space surrounding your carefully thought out short list of short bullets.

#6) Hard to see: there’s a huge difference between what looks great on your computer and what projects well.

Solution: Use the tried and true rules of the road: fonts 12 point or larger; no italics; light text on dark background; large graphics and photos; non-custom colors.

#7) Badly presented: Even the best written power point deck can fail to move the audience if the presenter is poor.

Solution:

• Speak only about what you know
• Double the amount of time you think you need to practice
• Do not use pointers. If you must call attention to something on the screen, gesture towards it with your hand.
• Remember: you are the presentation and the slide deck is your back up. Speak towards the audience and tell them what is important or interesting

#7.5) Using slides when you don’t need them: Not every bit of your spoken content needs to be covered by a slide.

Solution: Insert some blank blue slides into your deck at the places when you’re going to tell a story or use a prop or invite audience participation

Bonus Tip: What would happen if you tried to overcome just one of these barriers in your very next presentation? You would see an immediate improvement. Then you would start overcoming the rest of the barriers, one by one until you are writing and delivering Power Point presentations that make your audiences happy.

Written by: Susan Trivers

How To Make Sure Your Customers Pay The Bill

Performing Collections Is A Necessary Evil Of Business

Getting paid is probably the single most important aspect of running a business and one of the hardest things to accomplish. Especially when the economy is slow like it is now. Most businesses start to tighten up their purse strings in such an environment which can make getting your money a real challenge. But assuming you’ve taken the time to develop a solid credit policy. It will soon become time to make sure that your customers do pay the bill.

Getting Paid Starts With The Invoice

The process of getting paid on time starts from the point that you write the invoice. To start your invoices have to go out in a prompt manner. When the job is done the bill goes out. Everyday that you fail to write up an invoice and get it sent out is an extra day that you have given the customer to make a payment. If you have a contract that allows for periodic billing then don’t miss that billing period. Too many people procrastinate when it comes to writing up an invoice. But if they don’t have the bill you won’t be paid.

Keep Your Invoices Clean

Your invoices also need to be clear and concise. Make sure you are specific about what the bill is for. The date issued needs to be accurate, the due date, and the terms. You should also state what penalties will be enforced if the bill is paid late and if you give a discount for early payment. Most accounting programs allow you to customize your invoices which will let you to include all of these details.

Beating The Payment Deadline

Another thing to keep in mind is that many large businesses only send out payments once or twice a month. So if your invoice is late getting to them you may have to wait until their next payment cycle. The flip side of this is if you beat the deadline you may get paid early. Knowing the accounting practices of your customers is always a good thing. As well as being on a first name basis with the accountant that sends out the checks.

Being Prompt With Your Follow Up

Just as you need to get your invoice out on time you also need to be prompt about giving them a call. You can give a customer a courtesy call about 10 days before an invoice is due. It’s not uncommon to find out that they didn’t receive the invoice and so this allows you to get them another copy. If after thirty days you haven’t received a payment then it’s time to make a collection call. You don’t necessarily have to call on day 31. A grace period of 5-10 days is usually ok. Many businesses will wait until day 30 to cut the check. That way if you do charge penalties they can cite the date on the check to show it was not paid late.

Making The Collection Call

When it comes to collection calls remember the person on the other end of the line is just doing a job. Being rude or pushy with them is not going to win you any friends and most likely will just make them more resistant to paying the bill, not less. Just as with your customers and suppliers you want to develop a relationship with them. Because you’ll probably find yourself talking to them in the future. And they may provide you with some very helpful information.

Don't Give Up

If you still are having problems getting paid then you must persevere. Collection letters will most likely find their way into the trash. You have to keep making those calls. And make them regularly until you get the desired response. As a last resort you may have to pay them a visit. Make sure to inform them that you are coming. Set up a meeting if possible. And if all else fails it may be time for a collection agency or even your lawyer. Most collection efforts never go that far. But once in a while they may. And in the collection business you need to be prepared for anything.

By Justin Miller

Do Not Sacrifice Profits for Sales

Don't Trade Profitability for Growth

The bottom line in business is that you have to make money. But all new business ventures do exactly the opposite. They lose money. The biggest question for surviving is exactly how long can you afford to lose money? Every business, whether it is brand new or has been around for years, reaches a point where it had better turn a profit or it is not going to last much longer. And once that point is reached the fall can be mighty quick.

Becoming a Victim of Success

One of the biggest pitfalls a company can get into is to become a victim of its own success. Now this can happen to a brand new venture with a spitfire of an idea as well as a company that has been around for a few years and has been steadily plugging along. Businesses both old and new get in what might be termed as the expansion trap. And they begin to expand beyond their means. What might have started as a profitable little enterprise begins to sacrifice those profits so that they can expand that top line, sales.

Your Cash Cannot Keep Up

In either case what happens is simple. The business takes off and the cash can’t keep up. Say for example you have a service business. The type of service you provide is dependent upon having more employees, vehicles, equipment and what not. But because the growth comes at you in a surge you inevitably never have enough of these things. Quite possibly to get the business started you borrowed the money from a bank, friends or investors. And to get what you need you start to pump that money into the business fast. In return you see the effects, sales start to grow.

Are You Making Money?

But are you making money? Probably not. Why? Bcause businesses go through growing pains. Owners and employees make mistakes. You buy things you may not really need. And eventually that funding grows tight. But you say to yourself demand is still increasing, sales are still growing and we need to invest the money we are making into that growth. And it’s at this point that you get hammered!

You Keep Spending

You get hammered because to grow your sales you spend money. The money you spent on an item such as a vehicle may only need to be spent once. Or so you think. But if your sales continue to grow then eventually you may need another. These supposed one-ime expenses are the onesthat kill your profitability. And eventually your business. You need to avoid getting ahead of yourself. And you need to keep some of your profits in your pocket.

Don't Get Caught u in the AdrenalineRush

It really is a great feeling when a business is growing by leaps and bounds but as an owner you can’t let yourself get caught up in that adrenalinerush. Eventually your business venture needs to turn a profit. You need to rebuild the war chest. Otherwise you’ll burn through all your cash and be left without a penny in the bank. Remember you’re in this for the long haul. Short term adrenalin rushes are great but they can eventually cause your business to come crashing down.

By Justin Miller

Managing Your Accounts Receivables Is Critical

Tight Management of Collections Is Crucial

If your business sells products or services to other businesses then you may be in the position of having to extend credit to your customers. If you do extend credit then your business, like many others, may be having a hard time getting paid. And although no one really likes having to be the bad guy someone has to make sure that your customers are paying their bills. If they don’t then you may find yourself in the unenviable position of not being able to pay your own bills.

Are Your Customers Being Tight Fisted?

With the economy the way it is right now most businesses are trying to hold onto their cash as long as they possibly can. Most likely you are doing the same thing too. But once the job that you were hired to do or the product you supplied is delivered then that money they are holding really belongs to you. And as long as they have it then it cannot be made to work for you.

So Who Gets to Be the Bad Guy?

So who gets to be the bad guy? Well that depends on you. There are two basic options. Either you do it in house which, depending on the size of your company, might actually require you to do it or you can hire an outside firm. Each system has its advantages and disadvantages. In the case of an outside firm you get professionals in the collections business. The problem that can sometimes surface comes from the tactics they use to get your money. Often they will try to pressure a customer into paying their bill. This of course can be counter productive to your relationship with that customer. So if you are looking at using an outside firm then you need to question them first about the collection methods they use.

Doing Your Own Collections

If you are planning on doing it yourself or designating someone within your company to handle your collections then you need a system to govern your methods. To start you are going to need information. What is primarily needed is contact information. Phone numbers, addresses, and the person that it would be best for you to deal with. Once you have that information then you need to decide how aggressive you want to be in collecting your money. Most businesses allow 30 days for a customer to pay. If that is your policy then you need to try and stick to it. Because if you allow your customers more time then they may try to take advantage of you.

Preserve Your Customer Relationships

The most important thing to remember when dealing with money you are owed is that you need to preserve your relationship with the customer. If you don’t do that then all the effort you put into building that relationship will have been wasted. It even matters how well you treat their bookkeeper. Treating them well will help you in the future when the time comes again that you have to ask them to pay a bill. All you need to do is ask yourself what kind of a response you would give to someone that is rude or pushy when they are trying to get you to pay a bill. Keep that in mind when you want someone to pay your bill. Remember collections is a dirty job but someone has to do it.

By Justin Miller

Straight-Line and MACRS Method

Financial Reports and the IRS -- Accounting for Depreciation

A company may choose to use the straight-line method for depreciating assets on their financial statements, but this method is not correct for income tax purposes. The straight line method of depreciation for financial reporting purposes is an acceptable method according to generally accepted accounting principles (GAAP), but the Internal Revenue Service requires that companies use the Modified Accelerated Cost Recovery System (MACRS) to compute depreciation for income tax purposes.

Straight-Line Method

The benefits of using the straight-line method for book purposes are that it is simple and easy to use, and is a fairly reasonable transfer of costs for financial reporting purposes. A simple spreadsheet is all that is required to use this method. An accountant simply calculates the depreciable cost of the asset, and divides this amount by the estimated useful life. The entry can be recorded monthly on the books for financial reporting purposes by debiting depreciation expense and crediting accumulated depreciation.

As an example, if a company purchased a light-duty truck to use in their business at a cost of $20,000, with an estimated residual value of $5,000 at the end of five years, the depreciable cost would be $15,000 ($20,000-$5,000). Divide this by the five year useful life and the monthly entry for this would be a debit to depreciation expense-company vehicles for $250 ($15,000/5=$3000/12), and a credit to accumulated depreciation-company vehicles. At the end of the year, the financial statement would reflect a total expense of $3,000 for depreciation expense-company vehicles. Therefore, the net income on the financial statement of the company would be reduced by $3,000 each year for five years using the straight-line method.

MACRS Method

For tax purposes, the MACRS method should be used. According to the IRS, the two most common asset classes besides real estate are the five-year and the seven-year asset class. Asset classes are similar types of assets grouped together. The five-year asset class includes automobiles and light-duty trucks, while the seven-year class includes most machinery and equipment, which means that all automobiles and light-duty trucks should be depreciated for five years, and most machinery and equipment should be depreciated for seven years. When using the MACRS method, the residual value is ignored. All fixed assets are assumed to be put in and taken out of service in the middle of the year. Therefore, for the five-year class assets, depreciation is spread over six years. The depreciation rates for the five-year class are as follows:

• Year 1---20.0%
• Year 2---32.0
• Year 3---19.2
• Year 4---11.5
• Year 5---11.5
• Year 6---5.8

These total 100%, and at the end of year 6, the asset will be fully depreciated. Using the MACRS method with the example above, the depreciation computed for tax purposes in year 1 is $4,000 ($20,000x20%). The straight line method for year 1 is $3,000; therefore the MACRS method reduces taxable income by an additional $1,000 in year 1. It isn't until Year 4 that the MACRS method produces a lower depreciation deduction than the straight line method.

Not only is the MACRS method required for tax purposes by the IRS, it can be more beneficial to the company because it reduces taxable income which in turn reduces the tax liability of the company. It is acceptable for a company to use the MACRS method for both financial statement and tax purposes, but only if it does not result in significantly different amounts than would have been reported using other GAAP methods such as the straight-line method, or the double declining balance method.

However, using the MACRS method for financial reporting purposes may not be the best choice. Showing a profit on financial reports to shareholders and stakeholders is an important goal for any business, and the MACRS method reduces net income more significantly than other methods in the first few years of an assets life. This is one of the reasons that many businesses choose to use other methods for depreciation on the financial reports, and then adjust the depreciation expense on the income tax return to reflect the MACRS method required by the IRS.

Even though GAAP provides for uniformity in financial reporting, different rules may exist for tax purposes. Therefore, it is possible for the financial reports of a company to differ from the tax returns prepared for the IRS because of the use of different accounting methods. In order to comply with both the requirements of GAAP and the IRS, it may be necessary to consult with a competent tax accountant or CPA.

By Justin Millier

The Proper Way to Use a Revolving Credit Line

How to Properly Use Your Business Line of Credit

One of the most valuable tools a growing business can have is a revolving line of credit issued by your bank. But it is a tool that must be used wisely or you could lose it. So what exactly is a revolving line of credit? First off it is not a credit card. You are not issued a piece of plastic that can be whipped out whenever you need something. Instead it is a line of credit issued by a bank which is intended to cover the short term cash requirements of a business. It is normally used to cover the gap that occasionally occurs between receiving payment from a customer and making payment to a vendor. It is usually good for a period of one year but can be renewed at the end of each year.

How Does Your Bank Make Money?

So how does your bank make money off you? Well besides the fees they charge for establishing the credit line they make money on the interest. But just like a credit card they only charge interest on the money currently being borrowed. Not on the amount available to you.

Why You Need to Manage Your Line Carefully

Now just as you have to manage other aspects of your business a credit line must also be managed. The better you manage your credit line the more likely it will be that your bank will renew it. Along with your bank renewing your line of credit the possibility exists that they may increase the amount of the line if you ask and can prove to the bank the benefits of doing so.

What Is Your Bank Looking for?

So what exactly does your bank want to see? They want to see you use it properly of course. To them this means borrowing and repaying it regularly. A bank credit line is not a long term loan. You want to borrow what you need from it to pay particular bills and when your customer has made their payment to you then what you borrowed needs to be repaid. The more times this occurs the better the bank will like what you are doing.

Use Your Credit Line During Good Times as Well as Bad

Even if times are good and you don’t need to borrow money from it you should. By keeping the account active you show your bank that you value the line of credit you have and would like to keep it. If times become somewhat tight and you need to borrow regularly from it remember one rule above all concerning a credit line. Show the bank you can pay it off even if you have to borrow again the next day. Your banker will sleep better at night knowing the line of credit they issued is in good hands.

By Cash Justin Miller

Current Accounts- Meeting the Needs of Businessmen

Current Account is primarily meant for businessmen, firms, companies, public enterprises etc. who have to perform numerous daily banking transactions. In this account, the customer can deposit any amount of money any number of times. He can also withdraw any amount as many times as he wants, as long as he has funds in his credit. They are meant neither for the purpose of earning interest nor for the purpose of savings. These accounts are only for convenience of the business.

A proper introduction by an existing customer or a respectable person known to the bank is essential for opening the current account. The account holder can access his account from any branch of the concerned across the country. The cheques of the customer can be payable at par at all branches of the Bank across India. For this purpose you need for a demand draft. The customer can also give standing instructions to carry out his regular payments like Insurance premium, rent, taxes etc., with the current account provided sufficient balance is maintained in the account. The account holder also avails the facility of transfer of funds by means of Mail Transfer/ Telegraph Transfer/ Demand Drafts.

The current account can be opened with a minimum deposit, as stipulated by the Banks from time to time. The prospective account holder/customer needs to give a declaration that he/they are not enjoying credit facilities with any other bank or branch of the same bank at the time of opening the account. The Prospective account holder(s) should fill in the Account Opening Form, sign it and furnish the operational instructions to avail the current account facility.

Loans and credit cards charge you interest on the basis of an Annual Percentage Rate (APR) on the amount you borrow, whereas current accounts pay you an Annual Equivalent Rate (AER) on your credit from that account. This rate indicates what the amount would be if interest is paid on annual basis. The higher is the AER, the more is the interest the account holder earns. It works in the same way for any overdraft withdrawal, but money is deducted rather than credited from the savings amount. Current account interest rates are subject to change; both the provider and the Reserve bank of India can change them. However, the concerned banks notify of any interest rate changes before they take effect. To make a balanced decision regarding current account interest rates, you should look at the interest rate for both when in credit and if you are overdrawn. A high interest rate on your credit and a low interest rate on your overdraft is all about opening best bank current account

The account holders should watch out for interest rates on disarranged borrowing . When the account holder goes into the red or over the agreed overdraft limit, he is not only charged,but also can face a high rate of interest on this unauthorised borrowing. Some banks offer current accounts with tiered interest rates. Therese accounts work on the basis that different interest rates are applied to your money according to the balance available on your account. The tiered interest rates can mean the interest paid on your credit will drop once you pass a certain financial threshold. Similarly the interest on your overdraft amount can rise if you borrow over a certain limit.

Comparing before Opening best bank current account makes a significant difference. Comparison can help you reduce the cost of having an overdraft by helping you find an account with a lower rate of interest charged on your borrowing or overdraft. It can also help you find the best available rate of interest on your balance so you can earn more while your money is lying idle in your account. You need to compare the interest rates.
Current accounts- meeting the needs of businessmen

Summary: Current Accounts come with the answer of all kinds of business requirements.These accounts have been customised to ensure efficient fund management, quick transfers and instant availability of your funds across the network of the bank.

Current Account is primarily meant for businessmen, firms, companies, public enterprises etc. who have to perform numerous daily banking transactions. In this account, the customer can deposit any amount of money any number of times. He can also withdraw any amount as many times as he wants, as long as he has funds in his credit. They are meant neither for the purpose of earning interest nor for the purpose of savings. These accounts are only for convenience of the business.

A proper introduction by an existing customer or a respectable person known to the bank is essential for opening the current account. The account holder can access his account from any branch of the concerned across the country. The cheques of the customer can be payable at par at all branches of the Bank across India. For this purpose you need for a demand draft. The customer can also give standing instructions to carry out his regular payments like Insurance premium, rent, taxes etc., with the current account provided sufficient balance is maintained in the account. The account holder also avails the facility of transfer of funds by means of Mail Transfer/ Telegraph Transfer/ Demand Drafts.

The current account can be opened with a minimum deposit, as stipulated by the Banks from time to time. The prospective account holder/customer needs to give a declaration that he/they are not enjoying credit facilities with any other bank or branch of the same bank at the time of opening the account. The Prospective account holder(s) should fill in the Account Opening Form, sign it and furnish the operational instructions to avail the current account facility.

Loans and credit cards charge you interest on the basis of an Annual Percentage Rate (APR) on the amount you borrow, whereas current accounts pay you an Annual Equivalent Rate (AER) on your credit from that account. This rate indicates what the amount would be if interest is paid on annual basis. The higher is the AER, the more is the interest the account holder earns. It works in the same way for any overdraft withdrawal, but money is deducted rather than credited from the savings amount. Current account interest rates are subject to change; both the provider and the Reserve bank of India can change them. However, the concerned banks notify of any interest rate changes before they take effect. To make a balanced decision regarding current account interest rates, you should look at the interest rate for both when in credit and if you are overdrawn. A high interest rate on your credit and a low interest rate on your overdraft is all about opening best bank current account

The account holders should watch out for interest rates on disarranged borrowing . When the account holder goes into the red or over the agreed overdraft limit, he is not only charged,but also can face a high rate of interest on this unauthorised borrowing. Some banks offer current accounts with tiered interest rates. Therese accounts work on the basis that different interest rates are applied to your money according to the balance available on your account. The tiered interest rates can mean the interest paid on your credit will drop once you pass a certain financial threshold. Similarly the interest on your overdraft amount can rise if you borrow over a certain limit.

Comparing before Opening best bank current account makes a significant difference. Comparison can help you reduce the cost of having an overdraft by helping you find an account with a lower rate of interest charged on your borrowing or overdraft. It can also help you find the best available rate of interest on your balance so you can earn more while your money is lying idle in your account. You need to compare the interest rates.

By RahulSen