Taking care of your Purchasing team

To stay in touch with your entire customer list, you must contact every target on your entire customer list at least every three to four months. The reason your projects don't finish on time is because you haven't made scheduling, meeting, and communication standards a priority in your company. So …

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A lazy person's guide to Customer Service

Without clear targets, your people really don't know what 'do quality work' or 'be the best' really means. Identify the type of clients, customers, products, projects, products, or services you excel at, the market in which you flourish, the maximum and minimum project, order, and customer sizes you manage best …

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Sales secrets

The lingo of the business world ' cash flow, profit and loss statements, accounts receivable, debt-to-equity ratio, and so on ' makes small-business ownership appear far more complicated than it really is. However, this model will restrict the managers view of the activated resources and the accounting design will influence middle managers …

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Stay on budget

Wealth creation can be an outcome of a financially successful business that generates a positive cash-flow and increasing profits. These different accounting figures are used by middle managers in the different negotiations processes. Business owners have a tough job managing customers and working with people to get the results they …

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Should Design Be Your Primary Focus?

Trust is built over a long period of time. Owning a business that works without your constant attention, goes up in value, reduces debt, and produces a positive cash-flow and profit can also qualify as a wealth-building asset. The advantages claimed for the system are not merely the increase in …

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Data beats emotions

For these readers, you ll want to give extra attention to balance sheets and cash-flow statements. Sometimes the cash-flow gap is very large. Also, the construction of additional hotel rooms may be called for, causing mortgage payments to increase to a new fixed level. If your marketing program has done …

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Always look for the fool in the deal

Have them create mailing pieces, get them printed, stuffed into envelopes, and mailed. The Law of Supply and Demand usually functions as a negative feedback loop: When the supply of a product, material, or service increases, its price tends to fall, which may lead to rising demand, which will drive …

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What is our sales strategy?

Start a training ladder to track your employees' progress. A recent business plan for a chain of coffee shops, for example, included photos of the proposed location, mock-ups of menus, and maps of the competition s locations. Financial ratios reveal a company's performance over time (longitudinal analysis) or in comparison …

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Remember less is more

You need accurate reports of what each part of your company's production costs are. Freedom to say no to bad customers, jobs, employees, or contracts. Subcontractors also tend to round up small extras. What expertise, skills, or talent do you have that can add value to a venture?

Workers in …

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Company gross profit

In other words, what the company is worth if the company is closed, all the equipment and fixtures are sold, all the bills and debts are paid, and every amount it is due is collected. When your direct costs increase you're in trouble, because your only choice is more sales …

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Functional silos can be dysfunctional

If you d begun a car dealership specializing in yacht-sized gas guzzlers right before the Arab oil embargo in the 1970s, you would probably have been out of business in less time than one had to sit on the resulting lines at gas stations, through no fault of your own …

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Workers in Operations

You can draw a crowd wherever there are people. Draw clear conclusions, and vote on discussion items when appropriate. Advertisers are not going to spend money advertising on sites few people visit, and, for the first few years at least, not enough people will be visiting yours. If you can …

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