Tags |
|
|
Links |
|
|
Other Added - Cash - That's What it's All About
If you are looking for a way to protect your 'income potential' in virtually any economy, you have to know that there is one career, if mastered, that truly is economy proof. That is the selling profession. The reason is quite simple. Economies are driven by the sale of goods, services and even the sale of information or ideas. In fact, economically speaking, 'nothing happens until something is sold'.When there is a slowdown in the economy,
Getting an appointment for an interview these days is an accomplishment. It indicates that you have a good resume, and/or that networking has paid off. Bravo. Now for the all-important in-person phase of the process.There are hundreds of books out there with advice on this topic. I’ve read a lot of them. One I read recently, “201 Questions to Ask on Your Interview” by John Kador, hit a home run with me.What particularly grabbed me was his discussion of 5 key att
And so it is some 2350 years later. Too many small business entrepreneurs seem to fancy the honey. They certainly don't understand the importance of cash in hand. Recently I completed two cash management workshops, one at Houston Community College at Main and Elgin and the other in Wharton for the Wharton Economic Development Corp.
The attendees were about 25% in business and 75% aspiring entrepreneurs, about 60 in all. What troubled me was that very few of the attendees had personal budgets no less annual business budgets. There is not much hope when people consider cash management so cavalierly. In addition I had cause to work with two failing business recently and in both cases the cause of failure was poor or no cash management. With the failure rate for small business exceeding 50%, I would think that cash management would be a higher priority for those either in business or thinking about it. In the case of the failing businesses, one was in business less than a year. The original business plan premised that they would achieve 55% of revenue projection the first month, 75% the second month, 95% the 4th month and 97% thereafter, truly impossible attainments. After 10 months they are at 70% of projections and are in dire financial straits. Why? They had negative cash flows from the beginning (about $5000 to $ 6,000 per month) but until they defaulted on the bank loan they didn't seem to take any co
One night stand …or…Dynamic, long lasting and loving relationship?Which would you choose?Ok one night stand sounds like fun…but it’s a quick fix and does not really match up to the latter. At least I hope not.Above is a simple analogy to get your attention, something your advertising should be doing…but what it should also do is reveal your company’s identity, character and beliefs. That is where the real attraction for your consumer lies, and consolidates a
The attendees were about 25% in business and 75% aspiring entrepreneurs, about 60 in all. What troubled me was that very few of the attendees had personal budgets no less annual business budgets. There is not much hope when people consider cash management so cavalierly. In addition I had cause to work with two failing business recently and in both cases the cause of failure was poor or no cash management. With the failure rate for small business exceeding 50%, I would think that cash management would be a higher priority for those either in business or thinking about it. In the case of the failing businesses, one was in business less than a year. The original business plan premised that they would achieve 55% of revenue projection the first month, 75% the second month, 95% the 4th month and 97% thereafter, truly impossible attainments. After 10 months they are at 70% of projections and are in dire financial straits. Why? They had negative cash flows from the beginning (about $5000 to $ 6,000 per month) but until they defaulted on the bank loan they didn't seem to take any c
At the Biotechnology Industry Organization (BIO) convention earlier this month in Chicago, former President Bill Clinton sent a message to those in attendance: the biotechnology industry has a job to do.In his speech, the former President discussed the importance that biotechnology has in food security and health issues in the developing world. He said the first obligation of society is to feed people and that biotechnology can help individuals feed more people while addre
I can't be the only one who has noticed the decline in customer service these days. It is a very sad thing. I have stopped shopping at many stores because of how I was treated. I believe that customer service is one of, if not the most important ingredient to any successful business.Here are some basic tips to help you earn your customer's trust and repeated business.- Never Argue with a Customer! No matter what, the customer is ALWAYS right. Do what it takes
Travel nursing is becoming one of our nation’s fastest growing professions, and it’s no surprise. If you love seeing new places and enjoy exciting new experiences that evoke the feeling of taking an extended vacation, then the career of a traveling nurse might be just what the doctor ordered! Travel nursing enables many people to stay on vacation for two to six months in free luxury accommodations while earning high hourly wages at the same time.Yet despite all these adv
The other business is an independent car dealership that leases new cars and buy and sells recent model hi-line used cars. This is a case where large sums of money are involved in buying, floor-planning and purchasing autos for lease and sale. The huge cash flow, for the most part, belongs to financing facilities, either banks or investors, and must be managed with great care. In both cases a rigid cash management system would have eliminated the problem or provided early warning to enable steps to be taken to correct and possibly save both businesses. These are real examples and are occurring every day. Anyone in business or thinking of starting a business should put the highest priority on cash. It starts with your personal budget to insure you, as the owner of the business, live within the salary or draw the business provides. Next you should have a cash flow budget for at least the next 12 months of your business
HTTP = HTML link (for blogs, profiles,phorums):
<a href="http://www.otheradded.com/article/17758/otheradded-Cash--Thats-What-its-All-About.html">Cash - That's What it's All About</a>
BB link (for phorums):
[url=http://www.otheradded.com/article/17758/otheradded-Cash--Thats-What-its-All-About.html]Cash - That's What it's All About[/url]
Related Articles:
Barter - The Service Business Solution to the Post-Holiday Slump
Strategic vs. Operational And How It Affects A Small Business Owner
Bookmark it:
|