-Understanding Cash vs. Accrual Accounting
-6 Tips for Smarter Emailing

Welcome back to the MBA Working Girl Podcast-Where Business Theory and the Real World Collide! I'm your host, Laura Adams.

MBA Essential Tip:
In the U.S. most small businesses can choose whether to use the Cash or Accrual Accounting method. But if a business stocks inventory that is sold to the public, the U.S. Internal Revenue Service (IRS) requires the use of the Accrual method.
In the Accrual method, the critical date for billing your customers is upon job completion. You must deliver all goods or finish all services under contract before the revenue can be recorded in your books. And you record your expense items once all goods or services have been received or fully installed.

"To state the facts frankly is not to despair the future nor indict the past."   -John F. Kennedy (1917-1963)

In this show I discuss the basics of both accounting methods in way you'll easily understand.
 
And I'll give you 6 good tips for sending Smarter Email that will help you stay out of trouble!

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Thanks for listening-
Do Good Work, Laura

-Who Qualifies for Overtime Pay?
-Fair Labor Standards Act
-Who's doing the most Personal Tasks at work, a survey reveals!

Welcome back to the MBA Working Girl Podcast-Where Business Theory and the Real World collide! I'm your host, Laura Adams.

MBA Essential Tip:
The U.S. federal Fair Labor Standards Act (FLSA) was enacted in 1938 to regulate the minimum wage, overtime pay, and the use of child labor. This law does not apply to Independent Contractors-only to employees. FLSA does not limit the number of hours that an employee can work in a day or in a week.  And it does not provide for compensation while an employee is traveling to or from their job.
The law does permit employees to receive comp time in lieu of overtime pay. Comp time is extra paid vacation time given to the employee instead of overtime pay.

In this episode I talk about being paid for overtime work. You'll learn about your rights for receiving overtime compensation. You may be surprised to know who is qualified for overtime pay and who is not!

I'll also share interesting survey results that reveal who is spending the most time at work doing personal tasks...

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And as always, thanks for listening-
Do Good Work, Laura

-Creating Value for Customers
-5 Customer Needs-including secret ones!
-The 4 Questions you must answer to Sell anything

Welcome back to the MBA Working Girl Podcast-Where Business Theory and the Real World Collide! I'm your host, Laura Adams.

MBA Essential Tip:
The price of a product or service is not just a revenue generator. Price is also a vehicle that communicates with the customer in a psychological way. The psychology can come from:

Reference Prices - these are standards of comparison against which a purchase price is evaluated. These can be either external or internal. An external example would be a price tag that shows an original price from which markdowns have been made. An internal example would be the price a customer paid for the exact same product last year.

Price and Perceived Quality Relationship - contrary to standard economic theory, a higher price can create higher, rather than lower demand!  This happens when a high price is used as a signal that the product or service is of high quality.

So, the purpose of a product's price is not just to recover it's costs, but to capture the maximum perceived value that the customer holds in their mind for the product.


"No matter how good you get you can always get better" -Tiger Woods

In this episode I review the Customer Value Triad and give you a mathematical way to think about Value.  We'll also cover the 5 types of needs all customers have (whether they know it or not!).  And I'll share the 4 critical questions that hold the power for salespeople and marketing managers to be able to sell anything!

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Thanks for listening-
Do Good Work, Laura

-Employee vs. Independent Contractor status
-10 Habits of Highly Effective Employees (or ICs!)

Welcome back to the MBA Working Girl Podcast-Where Business Theory and the Real World Collide! I'm your host, Laura Adams.

MBA Essential Tip:
In the show I interchange the terms Independent Contractor and Independent Subcontractor. Just to clarify, here are the definitions of the two.
*A Independent Subcontractor is an individual or business that signs a contract to perform part or all of the obligations of another's contract.
*An Independent Contractor is an individual or business that provides goods or services to another entity under terms specified in a contract.
Employers are liable for the torts (civil wrongs for which remedies may be obtained) of their employees, as long as the employee is acting within the scope of employment. However, employers are generally not liable for torts committed by the Independent Contractors they hire. When hiring an IC, the employer is bargaining only for their work results. When hiring an employee, the employer has the right to control the conduct of the employee.

"By the work one knows the workmen" -Jean De La Fontaine (1621-1695)

This show continues the discussion about U.S. Labor Law - specifically outlining the major differences between Employee vs. Independent Contractor status.
I'm not an attorney, but hope to enable you to recognize the differences more clearly.

Are you a Highly Effective Employee (or IC)? Tune in and I'll share the top 10 habits that reveal if you're highly effective!

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Thanks for listening-
Do Good Work, laura