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 set a budget?
October 26, 2011 by 1 Comment
How businesses set and follow budgets is obviously very important. Setting a budget can actually be easier than you think. You need to look at the past three years within your business and ask yourself: how did the business do in terms of revenue and expenditure? Look at trends within your business. What regular payments […]
