| 10 Questions for your business |
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Ten important questions to ask about your business
1. Business Plan Identifies the way forward. Focuses the business on current and future markets. A necessary business tool to achieve funding. All businesses need to be financially and administratively effective otherwise they cease to function. 2. Office Management By analysing your current requirements administration can be adapted to serve you better. We can provide a tailor made solution for your business. 3. Staff As a key asset to your company, you can improve the focus and motivation of your staff by sharing your goals. 4. Enquiries & Orders Misplacing an enquiry or an order is lost business. It may just be a telephone message but without following it up you'll never know the damage to your finances or your reputation. 5. Invoicing To ensure you are invoicing correctly all orders need to be recognised as such. Companies in a hurry to please a customer can forget to make a note of all items supplied this impacts on stock and finances. 6. Duplication Save time and money by omitting duplication 7. Payment An important part of cash flow. Referencing clients and clearly stating terms of payment are effective ways of controlling credit. 8. Non payment Effective credit control procedures are a must for all companies with the last resort being court action. Non payment impacts heavily on your business through cash flow. 9. Cash flow All companies require healthy cash flows. Expanding companies are particularly susceptible to lack of funds. By keeping an up to date forecast of all your finances over a rolling three months you can avoid any surprises. 10. Suppliers Paying suppliers regularly is important to any company. Getting blacklisted due to none payment can leave you paying much higher prices. Worse still it can lead to loss of credit terms. |
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