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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Getting a hand on accounting... Posted by Ward-CA- on May 10, 2004 at 10:24 PM In Reply to: Accounting posted by bob on May 10, 2004 at 12:11 AM : Ward, : Do most of your successful students employ full time book keepers at some point. This business seems to create a need for good record keeping and as a investor the demands made on you to pay vendors quickly and to know how much funds you have available is crucial. So many checks. : This business seems to have many investors that copy whatever someone else is doing successfully in terms of locating profitable deals. It seems to be difficult to build a predictable and ongoing business when you must change strategies so often. ====================== Bob, #1. We made great strides in the accounting area by using a software program we particularly like and that’s MYOB or Mind Your Own Business. We’ve been using it since 1989 or ‘90 and are quite happy with it to this day. It’s inexpensive, quite easy to use and is a true double entry accounting system. #2. Many small business thrive because they can adapt very quickly to the changing market place whereas many large enterprises cannot. We pride ourselves on being very flexible in an ever changing market, and thus continue to thrive. However, a lot of our competition just languish in their same old routine because they don’t want to change. I don’t think resistance to change is any more unique to foreclosure investing than other endeavors, you either accept the need to be continuously adaptable or you don’t. Hope this helps. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : Ward, : : Do most of your successful students employ full time book keepers at some point. This business seems to create a need for good record keeping and as a investor the demands made on you to pay vendors quickly and to know how much funds you have available is crucial. So many checks. : : This business seems to have many investors that copy whatever someone else is doing successfully in terms of locating profitable deals. It seems to be difficult to build a predictable and ongoing business when you must change strategies so often. : ====================== : Bob, : #1. We made great strides in the accounting area by using a software program we particularly like and that’s MYOB or Mind Your Own Business. We’ve been using it since 1989 or ‘90 and are quite happy with it to this day. It’s inexpensive, quite easy to use and is a true double entry accounting system. : #2. Many small business thrive because they can adapt very quickly to the changing market place whereas many large enterprises cannot. : We pride ourselves on being very flexible in an ever changing market, and thus continue to thrive. : However, a lot of our competition just languish in their same old routine because they don’t want to change. I don’t think resistance to change is any more unique to foreclosure investing than other endeavors, you either accept the need to be continuously adaptable or you don’t. : Hope this helps. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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