Identifying and communicating effective targets to your staff is the key to making the profit that you want in your business. Accountants often talk about a ‘break-even point’, something I call your ‘happy day’. This is the day of the month when you know that for the rest of the month, you are making a […]
Archives for 2011
How do I identify and communicate effective targets to my staff?
December 27, 2011 by Leave a Comment
How do service based industries earn passive income?
December 13, 2011 by Leave a Comment
When we offer a service we are continually living in the ‘hour-for-money’ mindset. But as a service provider it is possible to generate income in other ways. As service based providers we are basically selling our knowledge and expertise. The key to service based industries earning a passive income is to package your knowledge and […]
3 steps to increase cash flow in your business
December 7, 2011 by Leave a Comment
We would all enjoy increased cash flow in our business, right? However, this is confusing to many business owners who often have no idea of where to start. The first step to improving cash flow is to make sure you are earning the right margins on the product or service that you provide. Examine the […]
How do I ensure my business is cost efficient?
November 28, 2011 by 2 Comments
Understanding whether your business is cost efficient is obviously the key to ensuring you are making your goal profit. Firstly, you need to understand that there are two types of costs. The first are variable costs: costs that increase and decrease as we sell our product or service. For example, in a service based industry […]
How do I overcome ‘Missing Link Syndrome’?
November 16, 2011 by 1 Comment
Every business spends money on either a bookkeeper or an accountant and in some cases, both. So, why do 87% of businesses fail because they don’t understand their numbers? This is what I call the ‘Missing Link Syndrome’. The missing link is you, the business owner. The information you are missing is what is happening […]
