RSSAll Entries Tagged With: "Small Business"

How to Market Your Small Business Successfully

How to Market Your Small Business Successfully

The most important part of your business is your customers, the people who buy your product or service. The purpose of a business is to make a profit, and profit results from creating, keeping, and serving customers in a cost-effective way. All suc­cessful businesses, whether large or small, have an intense fo­cus on customers. Successful [...]

How to Get Technology Funding for Your Small Business

How to Get Technology Funding for Your Small Business

When venture capitalists hear the words ‘high technology’ they seldom reach for their cheque books in a hurry; it is a culture with which most of them have yet to come to terms. And not surprisingly, high technology enterprises feel that venture capitalists are not very venturesome when it comes to financing the breaking of [...]

How to Keep Records for a Small Business

How to Keep Records for a Small Business

Some recent research into the causes of bankruptcy among small firms shows that, while poor sales, bad initial choice of site, misguided spending and sheer bad luck were all factors that occurred very often in the history of failure, one element dominated all of these – a general absence of reliable records. One creditor that [...]

How to Use Telephone Smart for Your Small Business

How to Use Telephone Smart for Your Small Business

Cash flow is a major factor in the daily life of every small busi­nessman, and rising bankruptcy and liquidation rates have emphasized its importance. However, ideas for actually speed­ing up the realization of money locked up in debts are in rela­tively short supply. Our technique that can be used with advan­tage is that of ‘telephone [...]

How to Write a Small Business Plan

How to Write a Small Business Plan

While luck naturally plays its part, the main reason for the suc­cess of a business is that it has developed a sound strategy and persisted in implementing it, a course which can substantially reduce the high risks of failure. An important element in this strategy is the basic plan for the business and, if this [...]

How to Understand Products and Planning in Small Business

How to Understand Products and Planning in Small Business

The firm’s product or process lies at the centre of most small firm managers’ thinking about their companies. The ability to make some item well, to offer a special service or to meet requests to supply particular components or materials was probably the main reason for starting up the firm. The commitment, flexibility and creativity [...]

How to Use Computer Security for Small Business

How to Use Computer Security for Small Business

The first-time business computer user has a lot to learn, but security is something he should consider at an early stage. Computer fraud may be the first risk to come to mind, but this possibility is unlikely to be important in the small installation. When management retains control of much of the detailed work, ‘adjusting’ [...]

How to Purchase Computers for Your Small Business

How to Purchase Computers for Your Small Business

Many people involved in the field of computers for the small and medium-sized business – with the exception of the com­puter salesmen – would probably agree that the majority of buyers approach the decision to invest in a computer from entirely the wrong direction. The bombardment of blandishments from makers and sellers proclaiming that they [...]

How to Recruit Employee in Small Business

How to Recruit Employee in Small Business

The first person you employ is often a friend or a member of the family. How do you set about finding someone you do not know, and selecting the right person to suit you and your methods of working? Preparation To make sure you get the right person for the job, you must know what [...]

How to Set Up a Small Business

How to Set Up a Small Business

The first thing anyone needs before setting up any kind of business is an idea, or perhaps more precisely the idea of starting in business at all. It sometimes happens in a blinding flash, but more than likely it insinuates itself and gradually the idea of setting up a business develops until it is hard [...]

How to Plan for Management Information Systems in a Small Business

How to Plan for Management Information Systems in a Small Business

Informed managers are better managers. It is fair to say that we all wish to be better managers, bearing in mind that good man­agement is the key to ‘corporate success’. However, one still finds businessmen who attempt to achieve this goal with one hand tied behind their back. In other words, these managers do not [...]

How to Pay Salary to Your Employee in Small Business

How to Pay Salary to Your Employee in Small Business

The amount of gross pay, plus overtime rates if applicable, will have been agreed between you at the interview/job offer stage. It is also useful to agree at that early stage: the method of payment (straight into bank account or building society by credit transfer, cheque or cash) the frequency of payment (weekly or monthly) [...]

How to Obtain Payment Earlier for Small Business

How to Obtain Payment Earlier for Small Business

Keeping sales ledger debtors to a minimum is vitally important to the expansion, and sometimes even the survival, of small firms. Streamlining the method of raising invoices will, by itself, often lead to a significant increase in cash flow by getting the invoices on to the customer’s sales ledger earlier. It is also help­ful to [...]

How to Manage Stockholding in Small Business

How to Manage Stockholding in Small Business

Another major current asset which in most businesses requires similar attention to debtor control is stock. Stockholding in a manufacturing operation generally comprises raw materials, work-in-progress and finished goods, although in certain cases such items as spare parts for machines or tooling are included in the stock figure. The latter items are of a capital [...]

How to Identify Different Sources of Financing for Your Small Business

How to Identify Different Sources of Financing for Your Small Business

The range of sources of finance for the smaller firm seems to in­crease every year but in spite of that there is inevitably a chorus of voices from the small business sector that the money is never actually there in reality when it is needed. One of the reasons for that situation has usually been [...]

How to Find Banks and Building Societies for Your Small Business

How to Find Banks and Building Societies for Your Small Business

Building Societies which have become banks may allow a small trader or partnership to open a business account. Charges and services vary, so it is wise to shop around. You can open an account in your own name, or perhaps with one or two partners in private names, and use the account as though you [...]

How to Deal with Slow Payment in Small Business

How to Deal with Slow Payment in Small Business

Large companies are being increasingly criticized for their slow payment to small suppliers. Reports on research by, among others, the London Enterprise Agency and the Association of Independent Businesses show there is some justification for the complaint and the chief general manager of the Co-operative Bank has emphasized the interdependence of large and small firms. [...]

How to Build a Planning in Small Business

How to Build a Planning in Small Business

‘It is impossible to plan in this business’ is a cry that one often hears from the small businessman, and yet he will later go on to suggest that he intends to purchase new plant costing say £30,000. These two statements are manifestly contradictory. By indicating his intention to purchase new machinery the busi­nessman is, [...]

How to Budget for Profit in Small Business

How to Budget for Profit in Small Business

Budgeting is an activity which is undertaken by most people in their private lives, and yet one constantly meets arguments from small businessmen that it is not relevant to the manage­ment of their companies. This resistance is difficult to under­stand. If the technique is relevant to the management of a household, it must surely have [...]

How to Budget for Cash in Small Business

How to Budget for Cash in Small Business

The concept of cash budgeting, or cash flow forecasting as it is otherwise known, is not new. Many large companies have been using the technique as a tool of management for many years. It is, perhaps, only during the past five or ten years that cash flow forecasting in smaller businesses has gained some momentum-However, [...]