FINANCES

Finances should be really simple: you earn money, and spend less than that! That’s how you deal with your personal finances (mostly).   How about businesses? Well, most companies deal rather differently with business finances. They buy “on credit”, meaning that they order goods in, the supplier then sends a bill, and the business then … [Read more...]

Double your sales in 6 months

One customer was having some difficulties with her business. The sales were downtrending and not much work was coming in anymore. I pulled all the relevant information off of the bookkeeping data I keep in Sage, and make a statistical graph, to show her what she had been invoicing. I then followed this up with advice on promotional actions she … [Read more...]

20 Tips on Organising Business Finances

Download my 20 tips on organising your business finances. … [Read more...]

PROMOTION

There are a lot of promotional actions you can do to increase the likelihood of more customers and sales. One doesn’t look generally on a lot of these as promotional actions, yet they are. How about putting a smile on your face? Yes, that is a promotional action, and a very important one; customers like to see a cheerful smile! Whenever my … [Read more...]

PLANNING

With the New Year upon us, we’re all full of good intentions on making the New Year better than the last ones. How do we go about this though? How do we make intentions become actuality? There is a certain sequence of steps to follow in order to make any intention come to fruition. You would start with deciding on what it is you want to achieve, … [Read more...]

PAYING BILLS

A standard function of any business is to pay bills, no matter how much we want to keep all our money to ourselves! Some companies pay bills first to whoever yells the loudest. Other companies won’t pay bills at all until and unless they are asked for the money. And some companies just pay cash for everything they need. If they have bills to pay, … [Read more...]

FILES, Part 2

For your finance/bookkeeping files: keep it simple! One file for bank statements in date order; one file for cash records in date order, one file for invoices in date/number order, one file for bills in alphabetic (and then date) order, one file for credit cards in date order. In addition to this, you want to have customer files: when making … [Read more...]

FILES, Part 1

The importance of files in administration cannot be overstated! Your files are your company’s memory. If your files are in order, no matter who looks at it, they can find the relevant information. If you depend on a person to supply you the information, you are doomed as soon as that person is not available or worse, leaves the company. Plus that … [Read more...]

DOWN-STATISTIC

Any production in any sphere of action, whether it be business, raising a child or racing a car, can be measured by statistics. A statistic shows you this period’s production compared to the last period’s production; and this period can be a day, week or month. You can best see the sequence of statistics if you graph it, making sure that the … [Read more...]

CREDIT CONTROL Part 2

If you have customers who have not paid by the Due Date, you will start the recovery actions. Generally, you can contact a customer after he is late paying your bill, and the rule I apply about when you contact him depends on the time you’ve given him to pay. If you’ve given him 10 days, you would generally contact him about 14 days after the … [Read more...]

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