Do Business Well

Even if you managed to obtain adequate finances for your business, one of the biggest traps is cash flow. Cash flow basically means the movement of money into your business (from the sale of your goods or services) and the movement of money out of it (to suppliers, the bank, other creditors and employees). The relationship of these two flows is very important. Many businesses go under because although they are owed a lot of money they do not have enough in hand to pay the bank/their own debts. There is nothing more frustrating than knowing you are owed 0,000 but not having enough cash in hand to pay for the weekly shop. Continue Reading »

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Compensation Concepts

Most honest individuals will put in a decent day’s work with little more motivation than a reasonable wage. You’ll probably want more than that from your people. I know that nothing tickles me more than to see an employee use his opportunity with our company to grow and prosper. However, to get these results, you must provide motivation.

The better you know your people the better you’ll know how to motivate them. There are certain key things you can do, though, that will result in employees consistently going the extra mile. Continue Reading »

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It’s an all-or-nothing game

Be prepared to do whatever it takes during the first three years of the life of your new business. The business will dominate your life and the life of your family until it’s strong enough to stand on its own two feet. In a way, your business is another addition to the family. In the beginning, it will be demanding, it will be delicate and it will keep you up at night. But like any new addition to the family, it will give you massive amounts of pleasure as you see it grow up. Continue Reading »

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