This guarantees repeat loyal customers, a safe working environment, quality workmanship, on-time deliveries, empowered and accountable employees, and an above-average profit margin. It is usually better to wait for or seek another opportunity than to rush into the present opportunity without performing due diligence'whether buying a car, house, or company. On the other hand, a banker is likely to be quite interested in seeing a contingency plan that will let you pay back the loan, even in the event of a worst-case scenario. But the key word is honestly. You certainly shouldn t play down your strengths in a plan, but don t try to hide your weaknesses either.
Cracking the profits code
others to want
to do what they want them to do. It is
often assumed that
wages are lower than they should be, that the laborer in some way is deprived of a portion of what he has rightfully earned. Have a
board in front of your store, or near it, announcing your sales for the past week. There is
a good reason
why 60 per cent of all new businesses are started from home these days ' it's free, it's convenient and it requires minimal organisation.
Take a personalised approach
compare short-term assets
to short-term liabilities. Just as
your car won't
run without fuel, you can't sustain a roof over your head and provide food, clothing, and the rest of life's necessities if you can't pay for them. Explain any
terms that may
be unfamiliar to a reader who s not an expert on your industry. Without a
good net profit
margin at year end, your business will struggle and you won't be able to move toward achieving your long-term goals of earning more, working less, and living the life you want.
Today it?s cheaper to start a business than ever
you started your
business with an adequate capital investment to run your business properly for several months without cash-flow problems. It is
the net revenue
flowing from a business, property, or investment. Each manager
is dependent on
those who work for and with him in other parts of his company, for example, a purchasing manager depends on a manufacturing manager and an R & D manager. Features of
the business landscape
have implications for policy makers who tend to sustain or direct the business world.
Use content that interests your visitors
the timepiece would
be a very cheap one, but many a parent will trade with you for the sake of getting a watch for his child. Highly redundant
processes such as
manufacturing can have a very large span, while creative businesses such as architecture and filmmaking may have a span of only a few persons. Even a
false statement, repeated
often enough, can be perceived as true. They are
certainly going to
be more concerned about your relationships with your other customers and, possibly, suppliers, than most of your readers.
Maintain your Competitive Edge through Accounting
owners usually expect
their establishments to draw many visitors. An equal-equity
partner may, quite
naturally, demand approximately equal control. It is
the difference between
holding a piece of paper with a number written on it, and holding banknotes and coins in your hand. A financial
statement for one
period is useful, but static.