Use your advisors wisely.
Keep your accountant, banker, insurance agent, and lawyer informed about [...]
Use prior financial statements as a guide to prepare budgets and long-range projections.
Actual results should be compared to these projections to highlight [...]
Watch those numbers.
Use your financial statement to give you important management information. [...]
Keep payroll costs under control.
Payroll costs are a major item in most businesses. Perhaps [...]
Learn from other small businesspeople.
Don’t be one of the many businesses that overpay vendors [...]
Collect past-due receivables.
Almost every business has past-due receivables. Phone the people who [...]
Develop tight controls over billing and collections.
To speed up cash flow, reduce the time between shipping [...]
Make costs everyone’s concern.
Motivate your employees to be concerned about net profit. They [...]
Ask your employees.
Companies that ask employees for suggestions get good results. Your [...]
Try new ideas.
Be innovative and unconventional when necessary. The fact that something [...]