Gaining larger profits depends on accomplishing all the little things better – rather than making one huge change. You’ll need to focus on every little detail to reduce your expenses and increase your sales turnover over the coming 90 days. Decreasing your costs For most small businesses, the easiest way to increase profitability is to… Read More
Easily the most important first step in establishing any type of business is to define your customers so that you have the information you need to attract the right audience and generate valuable traffic to your website. Understanding your customers and what makes them tick is the key to any successful business, particularly if you… Read More
If your business is under extreme financial stress, then time can run short to develop long-term plans for recovery. If access to money is all you need and the core demand is still sound, then you’ve more options compared to a business which is failing to cover overheads and no improvement is in sight. Here… Read More
Social media is a more potent force than ever before and one of the sites at the forefront of the social media revolution is Twitter. With millions of active users, Twitter is an extremely powerful marketing tool. The secret to Twitter success, of course, is growing and then holding a large follower base which can… Read More
In a new start-up, a cash surplus will give you breathing space if sales are not as high as you hoped, or expenses are higher than you thought. Surplus cash can also be used for planning an expansion project to increase your capacity, pay a large bill, or buy new equipment. The most obvious way… Read More
Identifying and monitoring the key drivers of your business is critical to boosting profitability. A key business driver is something that has a major impact on the performance of your specific business. A whole range of internal and external factors affects the performance of every small business. The secret is to focus on a handful… Read More
Dealing with a sudden cash flow crisis, even if you’re working hard to avoid shortfalls, is hugely distracting. A formerly reliable customer might take much longer to pay than anticipated or a large consignment might fail to show up, leaving you out of pocket. If you’re starting a business, it could simply be taking longer… Read More
If you’re failing to meet your cash commitments each month and eating away into your capital reserves, then it’s time to make some serious decisions in your business. A business can survive for a short time without low sales or profits, but not without a positive cash balance. It’s cash which pays the bills and… Read More
The aim of all small business owners should be to have more money coming in than going out. From shortening your cash cycles to managing debt, there are several methods for getting on top of your cash flow. And once you’ve got it firmly in hand, you’ll experience greater freedom and opportunities to grow your… Read More
For business start-ups, the most important thing to remember when it comes to accounting is that you need to be able to see at a glance what your cash position is. There are several different ways a small business can go about its accounting tasks, but the common factor in all of them is documenting… Read More