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Category Archives: Tips

Tips for Business #10: How to get the information you really need to see – Your next step.

As you will have gathered, there is much information that you need to obtain as part of your regular management information. As explained in Tip 6, one major area that all business owners need to see and understand is the sources and application of CASH within their business. This enables you to understand: How much, … Continue reading Tips for Business #10: How to get the information you really need to see – Your next step.

Tips for Business #7: How to see the wood from the trees – customer’s debts

Everyone knows that the longer it takes your customers to pay you, the worse your cash position will become. However, just because your debtors are high at the end of the month, doesn’t necessarily mean your debtors are taking longer to pay! For example, if your annual sales are £2.4m with debtors at £800k, all … Continue reading Tips for Business #7: How to see the wood from the trees – customer’s debts

Tips for Business #6: How to know where your cash has gone

Businesses can be aware of the profits or losses they are making during the year. However, many business owners do not understand why their bank balance may have reduced even though their accountant tells them their business is profitable. Very few business owners have a clear understanding of whether their business is generating cash or … Continue reading Tips for Business #6: How to know where your cash has gone

Tips for Business #5: How to decide whether to increase or decrease prices or offer discounts

Do you believe that raising prices will turn customers away? Do you think that dropping your prices will bring a flood of new customers? Do you think that either will make your profits soar? The truth is reality can be very different! For example, a 10% price increase on a gross profit margin of 30% … Continue reading Tips for Business #5: How to decide whether to increase or decrease prices or offer discounts

Tips for Business #4: How to successfully manage your cashflow – part 1

Many people assume businesses collapse because they are loss making. However, the reality is businesses go bust because they run out of Cash. Always remember “CASH IS KING” The primary purpose of a business is to attract, maximise and retain customers. Everything that contributes to this is an investment; anything which doesn’t is a cost. … Continue reading Tips for Business #4: How to successfully manage your cashflow – part 1

Tips for Business #3: How to make your accounts something you want to read!

The problem for many business people is the sheer volume of numbers they receive from accountants and bookkeepers. As a business owner you need to know which numbers are important and what they reveal. In other words you need information, (and not data), presented in a way that makes sense for your business. There are a … Continue reading Tips for Business #3: How to make your accounts something you want to read!

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