Managing Finance

Ongoing organizational systems will keep your employees headed toward the desired end result. But it doesn't have to be that way, and the advent of direct debit and the ability to take payment online and over the phone has made it much easier for small firms to take payment immediately …

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An Authoratitive Guide to Customer Service

Have a large bulletin board in front of your store, or near it, announcing your sales for the past week. In fact, warning labels may seem ridiculous, but in a litigation-crazed society, you will actually see labels such as the one on a portable stroller that read, Please remove child …

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Sales on a shoestring

Ask questions and learn. Save your best material for the words you speak. Before seeking investors, you need to know exactly what you are seeking and where that money will be spent. Are you in control of your sales volume?

The key point is that benefits are dependent on the …

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The profits mystery

Let everyone on the team vote for the winner some weeks, and on alternating weeks let your managers choose the recipient. They insist that profits are really the earnings of labor which have been withheld from the laborer by the superior skill and economic strength of the capitalist manager; they …

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Create a target customer list

Ken Olsen raised money to start Digital Equipment Corporation with the help of a plan copied out of a textbook. But all business plans are not the same any more than all businesses are. In the early years of your start-up business, you'll almost surely experience a reduction in your …

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Have recruiting business cards made

And they particularly don't want to feel that their hard-earned cash is going on unnecessary glitz. Have every lineal foot of your counters calculated at a certain rate of profit. You can also provide plan readers with information and even apps to look at what it is you are proposing …

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Showing customers your products

There are all kinds of reasons why a venture capitalist, banker, or other investor may refuse to fund your company. Emphasize a cogent, succinct summary and explanation of the basic business concept, and do not stint on the details about the impressive backgrounds of your management team. Entrepreneurs know that …

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Waiting for customers to call you

It has developed with civilization and has been, without question, a fundamental cause of material progress. Wear magnifying glasses. Remember there is no fate. Install an employee development and training program to motivate, recognize, appreciate, and train accountable and responsible employees and teams.

You make these sales mistakes?

If you …

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Project Management in Production

In a struggling economy, more highly skilled employees will be seeking work, but you may not be in a position to risk high salaries. The SBA website provides a very comprehensive overview of all its loan programs and provides answers to many typical questions. Either they are the cheapest, the …

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Taking care of your Finance team

Just raising questions can sometimes lead to a solution, or at least ensure that if conditions change you won t be forced to make decisions hastily. It s likely as well that with better planning skills will come improved business skills, boosting the odds that each successive company you start …

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A poor approach to Marketing

Therefore, try to send your plan to people you believe are trustworthy. Environmentally sensitive business practices have traditionally been engaged more for ecological concern than economic benefit. You can have the same kind of people on an advisory board but you don t report to them nor do they have …

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Use online surveys

Install financial controls to ensure accuracy and accountability. (When I took a hard look at our overhead costs a few years ago, I found that people were abusing the company accounts and ordering more things than we needed.) Consider outsourcing as much as you can to cut your overhead, including …

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