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suppliers, margins, and so forth). Do I have a good handle on my personal finances? But you need to know what to consider before starting a business—and financial health should be the first priority. Several elements make up a robust business plan: Executive summary: Overall, what are you trying to accomplish?
Worsening Access To Finance For UK Small Business by Stefan Töpfer on Nov 16, 2009 Following on from my interview on CNBC, I came under fire with some criticism for suggesting the banks and the government is failing small business with access to affordable finance. You can follow any responses to this entry through the RSS 2.0
Cost Cutting for Small Business – Payment Terms by Stefan Töpfer on Aug 24, 2007 There are two ways to get better payment terms from your suppliers – make sure you know what the pricing is and negotiate the payment terms last, without warning. This is like a 24% p.a. Digg Furl Netscape Yahoo!
Cost Cutting for Small Business – Payment Terms by Stefan Töpfer on Aug 24, 2007 There are two ways to get better payment terms from your suppliers – make sure you know what the pricing is and negotiate the payment terms last, without warning. This is like a 24% p.a. Digg Furl Netscape Yahoo!
If the supplier knows you are ready to buy for the right price they will cut you a deal. Promise to buy from one supplier for better payment terms, like 60 or 90 days. Getting a better price is especially easy to do right now, since suppliers are tripping over themselves to get business. Get better payment terms by negotiation.
Anyway here are the small business health check questions you need to ask yourself: What do I need the money for? Thanks Rob Smorfitt Said on September 2nd, 2007 at 9:13 pm Is a lack of finance not a symptom rather than the cause of SME failure. Is a lack of finance not due to poor planning, uncontrolled growth or a poor business?
Even if you need the service or product from your supplier, check others all the time, insurance, telephone, utilities, etc. I have been running a small marketing consulting business and following these basic tips has gotten me through a recession, paid my dept and now financing my MBA. Analyze your fixed cost every month.
To perform a basic small business fixed cost health check , ask yourself the following questions: Do I know where all the money is going every month? In this first part, I would like to talk about fixed costs in small business. Am I in control of my spending or have I abdicated this function to someone else? Digg Furl Netscape Yahoo!
For example, files related to finances can be green (for obvious reasons, right?), Another suggestion is to color code the labels, same example, use green labels for finances. Check out office suppliers such as avery.com and smead.com for storage and filing options. I like to use the color coding system.
Ethics And Small Business » « Previous Entries This entry was posted on Thursday, October 18th, 2007 at 9:26 am and is filed under Accountants/CPAs , Question & Answer , Small Business / SOHO , Sole-Trader , Suppliers , start-up in business. You can follow any responses to this entry through the RSS 2.0
Restructuring – a word used by BIG Business to lower cost, fire employees and squeeze suppliers. « Worsening Access To Finance For UK Small Business How To Make This Recession Work For Your Small Home Business. . ‘Restructuring’ or Cost-Cutting For Small Business Enterprise With WinWeb OnlineOffice. — ST.
Small Businesses Faces Sharp Rise in Cost of Health Care : As Congress nears votes on legislation that would overhaul the health care system, many small businesses say they are facing the steepest rise in insurance premiums they have seen in recent years. The small business owner was at a clear disadvantage – until now! — ST.
RBI draws flank from panel : The carte blanche given to private and foreign banks by the Reserve Bank of India to charge interest rates on credit cards at their whims and fancy has come in for severe criticism by the parliamentary standing committee on finance. Digg Furl Netscape Yahoo!
This will allow you to stay in close touch with your supplier, and get real time up-dates and feed-back – there are other benefits too. If it becomes a distraction, deal with it immediately, if need be change supplier. Anything else could and probably should be outsourced ( see: outsourcing options for small business ).
« Book Review: A Bit on the Side by Jasmine Birtles Introducing: The Small Business Bookshop » « Previous Entries This entry was posted on Saturday, February 2nd, 2008 at 11:59 am and is filed under Finance , find funding. you must also start thinking about your finances to be able to support your business.
The recent downturn has made companies think twice about who they are dealing with and has made them potentially more likely to switch suppliers. Turbocharge Your Sales by Stefan Töpfer on Feb 03, 2010 With better economic conditions coming soon, there couldn’t be a better time to brush up on your sales skills. Perhaps to your firm?
» « Previous Entries This entry was posted on Wednesday, August 15th, 2007 at 6:46 pm and is filed under Business Checklists , Finance , plan cash-flow. « Small Business Checklist: Getting Payed Grow your small business – success or failure will follow. You can follow any responses to this entry through the RSS 2.0
You will need to have a legal agreement in place with all your clients because there are complications relating to weight loss that could potentially result in litigation against you. Digg Furl Netscape Yahoo!
You need to look on your books as your very own window on the health and well being of your business. So, now you know why you need to keep books, but how do you go about it. There are many ways to keep records, from nothing (not recommended), then there is manual and next you have countless software packages, all varying in price.
Suppliers will probably thank you for short meetings, so they too can get more done. Remember this is a rule for internal meetings, for meetings with customers this rule does not apply – within reason of cause. The customer should determine the length of the meeting. Digg Furl Netscape Yahoo!
« Ideas – Small Business Quote of the Week Worsening Access To Finance For UK Small Business » « Previous Entries This entry was posted on Monday, November 16th, 2009 at 7:27 am and is filed under Business Checklists. Check out our BusinessServices page for details. Digg Furl Netscape Yahoo!
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