On choosing business partner

On choosing business partner

Think about marriage. Chances are you don’t just go up to a random person on the street and ask them to marry you. If you did that, you would probably get slapped. You don’t just get married. More likely, you go on an endless search, a marathon search perhaps. You probably spend time learning about

If you can’t measure it, you can’t improve it.

It is often amazing that the lack of attention given Finance matters in some businesses by its owners. Accurate, well presented, logically ordered numbers tell a very clear story about a business. Here are the tips that will help you to improve your Finance department. 1. Manage your accounts using a recognized financial software package.

Make More Money

Your company has more money than you realize. You just don’t know where to find it yet. For that, you have to realize that a business is nothing more than a series of processes, and you need to improve little by little each process. Each of these business processes has key tasks that must be

Balanced Business and Personal Life

Balance is such an interesting topic. Sometimes we feel like we have it, other times we don’t. And, when we don’t, we often feel guilty for what we feel we should be doing. Every person reading this has different situations going on in their lives. Some reading this have young children, some have grown children,

Reputation matters

Arguably, the word ‘branding’ is the one of the most extensively used word in business world. I feel it is a very passionless word. Perhaps, the right word is ‘Reputation’. When you build a great Reputation, your customers will continue to do business with you and will refer you to others. They often ready to

Be the half of the battle (won)

Have you ever noticed how quickly most restaurants can get any number of dishes ready? It is rare for a restaurant to need more than ten to twenty minutes to prepare any given dish. The next time when you are in a restaurant, take a moment to ask yourself, how long it would take to

The best benchmark is your competitors Performance

Many Business Owners compare their company each year’s performance with their last year’s performance, such as increased sales, higher productivity, larger profit, and so on. There are several problems with the using the past as critical benchmark. Firstly, it is an inward looking measure, rather than comparing with your competitors outside. Beating your own performance

Cash Flow is King

‘Cash Flow Is King’ — I can’t remember where I first heard it, but I bet you’ve heard it too. If you run out of cash, that’s it, it’s over, no more business. In a simple language, debtors are the people who owe you money. Unless you are a bank, don’t act like one. If

Checklists

Checklists can prevent mistakes in every type of business. You would be amazed how many problems are solved, how many things are done right, and how many customers stick around when your employees use a simple checklist to ensure consistent quality in service delivery. A well-placed checklist can save a great amount of money. Takeaway: