Business 24/7™ Magazine, published quarterly by Bank of America, is your source for unbiased, timely, relevant business news that will help you stay informed of the issues affecting small business.

Bank of America (NYSE: BAC TYO: 8648) is the largest commercial bank in the World in terms of deposits, and the 2nd largest company of its kind in the world behind Citigroup. (From wikipedia, the free encyclopedia)

Welcome to the machine. The second-largest bank in the US by assets (behind Citigroup), Bank of America boasts the country's most extensive branch network, with more than 5,700 locations covering some 30 states from coast to coast. Its core services include consumer and small business banking, credit cards, investment banking and brokerage, and asset management.

Bank of America fattened up by purchasing northeastern banking behemoth FleetBoston for some $50 billion in 2004 and credit card giant MBNA in early 2006. It later bought U.S. Trust from Charles Schwab for more than $3 billion and acquired Chicago-based LaSalle Bank for some $21 billion from Netherlands-based ABN AMRO.

Bank of America Corporation Company Profile (Yahoo Finance)

Download Business 24/7 Magazine, Spring 2007

PDF format, 1.88MB, 40 Pages.

GET ORGANIZED!
Manage your time more productively
Save time, money—and your sanity—by outsourcing

THE RIGHT WAY TO MANAGE

For most of us, tax season is finally over—unless, of course, you’ve filed for an extension. My accountant often tells me he realizes just how disorganized many of his business clients are, including me, after the chaos of tax season. This reminds me of a great story, which I hope you won’t mind me sharing.

Several years ago in Baltimore a very seasoned business owner of some 25 years gave me some really valuable advice. “Son there is a right way to manage a business and then there is my way,” he said in his gruff, baritone voice. “The right way will make you some money and allow you to see your family at night. My way will make you some money.” I had noticed the long hours he put into his business and had come to learn just how normal that is for most of us who own our own businesses.

We often come to live and breathe our companies. However, I soon began to understand the story behind his “advice.” As successful as he was, he would spend countless hours on an array of things that just weren’t critical to his business. We’d often laugh about the fact that he’d spent so much time acting as his own marketing department, HR department, accountant, salesman, bookkeeper, and janitor that he found it increasingly hard to give anything up or change the situation. As much as I tried to break his cycle, I saw myself at times falling into the same trap—even when I was fortunate enough to not have to.

At Bank of America we are dedicated to developing products and services to save our customers time and make it easier for them to manage their finances. The next time you are at your local Bank of America banking center, ask an associate about Business Advantage checking. It is a new business checking account designed to save you time and money by allowing you to customize solutions that work best for your business. You can combine features such as additional checking and savings accounts with no monthly fees, online payroll, and credit and debit card processing into one attractive package. It’s another example of our commitment to make it easier for our business customers to do business.

This leads me to this important “Get Organized” issue of Business 24/7. My challenge to my team here at the magazine was to present our readers with tons of ways business owners can become more efficient and better manage their time. Our two lead features, “Farm It Out” (page 22) and “In Search of Lost Time” (page 18) offer a tremendous variety of outsourcing options and time management suggestions that you can use to help you become more efficient and save a little time each day.

So to Mr. Adolph Coleman, this issue is for you as well as for all those business owners who want to spend more time with family. While you may not use all the tips included in this issue, hopefully some of them will allow you to go home and eat dinner while it’s actually hot.

Happy reading!

Sincerely,
Lamont A. Young, Sr.
Publisher, Business 24/7

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