The Fuel Accounting blog page

What are you doing during the “Summer Slump?” For businesses in the hospitality, construction or painting industries it is the busiest time of year, but for many others it is quiet. If you’re in that second category – don’t squander that time (please note: spending time with family and regenerating is not squandering – but don’t get used to it!).

Janet Yellin, our US Treasury Secretary, has once again delayed lowering interest rates. And with good reason. Inflation is still too high. And as I’m sure you know, lowering interest rates has an inflationary effect on the economy.

Ok, has this guy gone off his rocker? Now he’s asking me if I hear dripping? Yes, I am asking that. But let me explain: We have run into situations where our clients have periods of high revenue, followed by periods of lower revenue.

Seth Godin recently wrote an article challenging the assumption that a customer complaint is bad. Oftentimes, when we get a customer complaint, we go into crisis mode. It might even feel like the end of the world has come!! 

Janet Yellin, our US Treasury Secretary, has once again delayed lowering interest rates. And with good reason. Inflation is still too high. And as I’m sure you know, lowering interest rates has an inflationary effect on the economy.

You’ve probably heard all the talk about the changes to Capital Gains recently.  It might surprise you to know that 6 weeks after this was announced we still don’t have any legislation wording introduced, so we have NO IDEA how this will actually work – and these new (unknown) rules are supposed to take effect in 3 weeks!  It’s not looking good for business owners at all!

As predicted in my Outlook for 2024, this government is continuing on its trend of asking the rich to pay their “fair share.”  And as business owners, you are considered to be rich, regardless of the evidence!  So, once again, your pockets are getting picked.

No, I’m not making fun of you, nor am I disparaging the visually challenged. I am simply asking if you have a vision for your business. If you don’t have one, you are flying blind. Everyone needs a vision of where they are going. Why? Because if you don’t, where in the heck is your destination? 

Credit cards make paying for things pretty darn convenient. Sometimes a little too convenient. It’s important to manage your spending habits and remember that we are all in this FOR THE PROFIT. That’s right. Profit comes first, not last. One of the core principles of Profit Fist is that debt is bad.

Is it our imagination, or does everything seem to be speeding up? No, it’s not your imagination. It’s real. And the faster the pace, the more stuff comes hurling at us. The more stuff coming at us, the more decisions we must make. And the more decisions we make, the greater the risk that we make a poor decision. So is there a way out of this conundrum?