money

Save Your Self Time, Energy and Money!

According to Robert Kiyosaki in his book, Retire Young, Retire Rich "An Entrepreneur is someone who sees an opportunity, puts together a team, and builds a business that profits from the opportunity." As an entrepreneur, you saw an opportunity or realized a gap in the market and felt you had something unique to offer. This gave you the confidence to set up shop. As an entrepreneur myself, it is our passion, self-belief and sheer determination that carries us through in the first few years of starting up. But as any business grows, its requirements tend to be entirely different than from the start up days. I want to share a simple word that could turn your business into not only well oiled machine, but also one that can roar through periods of growth and change. The word is SYSTEM... »

Cashflow Management

Cashflow Management: The Basics Introduction Cash is the oxygen that enables a small business to survive and prosper, and is the primary indicator of business health. While a business can survive for a short time without sales or profits, without cash it will die. For this reason the inflow and outflow of cash need careful monitoring and management. This guide looks at the key elements of cashflow and at how cashflow management will help protect the financial security of your business. It outlines the steps that you can take when dealing with your customers, suppliers and stakeholders to improve cashflow. It also highlights common cashflow problems and how to avoid them. Read on to find out: All About Cash – The difference between cash & profit and the fact that cash is king (cas... »

A Third of SMEs Waste Money on Business Trips

A third of small firms are wasting money on staff business trips by failing to shop around for the best deals on travel and accommodation, event management firm BSI has warned. The research from BSI revealed that 33 per cent of small firms do not negotiate the best rates they can on staff business trips, and 48 per cent do not set employees a budget for accommodation. “Our research shows that, due to limited understanding, apathy or misconceptions, a large number of SMEs are not following best practice procurement when buying and booking overnight accommodation, meetings and events, a fact that is likely to be causing them to waste significant time and money,” said BSI managing director Trevor Elswood. “With margins tightening, SMEs are facing even greater budgetary and r... »

Save Energy in the Office

Saving energy saves money and money saved adds to your bottom line. Britain’s SMEs account for 99% of businesses in this country and as such they can make great contributions to the environment by saving energy. Saving energy reduces costs and by reducing costs a small business can save money. Saving money then puts more cash in the company coffers to allow for either further investment or increased profitiability. So how can the small business save energy? Take a look at the Boost Efficiency webchat and get an insight into how much energy is wasted. Penney Poyzer, eco-expert and BBC2 presenter, and Mike Dinsdale of Brother discuss the 300 million pieces of paper that flow through Britain’s offices everyday and how IT contributes as much CO2 into the atmosphere as the airline i... »

Lost Time is Lost Money

"New Business" Response Times It may seem like a cliché but in business time really is money. And to back that up new research, supported by the UK’s business leaders, reveals a shift in response times to "new business". Critically there is a "two hour window" in which to respond to a sales enquiry otherwise one in three companies will say they will simply take their business elsewhere. Vodafone’s latest research into mobile working polled more than 1,000 managers, directors & business owners and found the true cost of businesses failing to communicate with customers. Only 20% of sales staff have any form of mobile communication with their offices the average value of a lost sales call is £18,000 and in higher-stake businesses that... »