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 […]
Archives for November 2011
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 […]
Why budgets in business are a must have!
November 7, 2011 by 2 Comments
Many business owners fail to set a budget and don’t consider this to be important for them. They either think they are not big enough to need one or they have one ‘in their head’. So, why is it important for every business to set a budget? A budget is the success plan for a […]
