This also relates to doing it right the first time. If you are able to keep up-to-date records, general paperwork and daily tasks in a systemised fashion, it will help you to reduce the amount of double handling and daily stresses in the work place.
Duplication can also refer to stock and other purchases made ...
This is a simple calculation which will determine how many sales you will need to make in your business before you start generating a profit.
The calculation is as follows:
Calculate your total business expenses.
This includes everything such as electricity, phone bills, rent, etc. This can be calculated over a week, month or longer if necessary. It ...
Negotiation can be used in business for all sorts of circumstances. For example it could be used for selling, purchasing, staff (e.g. pay rises, agreements), borrowing (e.g. loans), transactions and any others that maybe considered as suitable situations.
There are many forms of negotiation and there are plenty of techniques, they just need to be adjusted ...
Many business owners put ‘cash flow’ (or lack of) down as one of their biggest challenges. And often they think the solution is to ‘get more customers’. Well, maybe.
You see, it depends on what the cash flow problem is. Let’s run through a couple of examples.
1. You’re simply not selling enough of your product or ...
As any small business owner knows, maintaining smooth cash flow requires juggling nearly every facet of a business, from staying on top of accounts receivable, to extending lines of credit, to managing inventory. The essence of successful cash flow management is regulating the money flowing in and out of your business. Increasing your cash flow ...
Cash is the lifeblood of every business and no business can survive for long without it. As Mr. Micawber in Charles Dickens’ novel, David Copperfield, so succinctly put it:
“Annual income twenty pounds, annual expenditure nineteen pounds, nineteen shillings and sixpence, result happiness. Annual income twenty pounds, annual expenditure twenty pounds and sixpence, result misery”.
This simple ...
Whether you’re mapping a path to profitability or simply determining how much to spend on marketing, setting effective budgets can help your company manage money optimally.
Budgeting is a crucial aspect of financial planning. It forces you to ask questions about the business decisions you make, which in turn helps you anticipate the resources you’ll need ...
Why do sales people give in to price demands as if lowering the price is the only way of winning the customer’s business? Well, even though the customer doesn’t explicitly state that a lower price will win out, a number of salespeople believe it will.
It’s that reaction that allows the customer to assume control. However, ...
One of the keys to effective cash flow management is keeping a close eye on your purchasing patterns. While many businesses focus their cash flow strategies on ways to boost receivables, supplier-related payables need to be watched just as prudently. Follow these tips to help you control these expenses and help your business prosper:
Get the ...