The measure of the successful pursuit of a lead is based on whether the lead, in time, turns into a sale. The key to this transition lies in both speed and perseverance. A systematic organization and management of these leads can also help secure their progress through the stages of prospect to hot lead to profitable sale. (more…)
Summer is a time for family reunions, barbeques in the backyard, and completing outdoor projects. Summer is also a season for vacations — tooling around the Grand Canyon, visiting grandparents in Maine, flying to Mexico, or taking a week to meander through a neighboring state. But in today’s economy in which many families are raiding their savings accounts to meet mortgage payments, a vacation may seem an unaffordable luxury. Fortunately, with a little planning and ingenuity you can trim the cost of that summer getaway without cutting back on fun and relaxation. Here are a few ideas. (more…)
The recent economic downturn hit Americans’ net worth hard. “Net worth” is the value of assets (such as homes, bank accounts, and investments) minus debts (such as mortgages, loans, and credit cards). According to the Federal Reserve, Americans’ net worth hit a low of $48.3 trillion during the recent recession, but has since risen 13% to about $55 trillion. (more…)
For many small businesses, maintaining adequate cash flow can seem almost impossible. Customers are tightening their belts, lending institutions are rethinking their credit terms, and suppliers are struggling to maintain their own vendor relationships. In today’s economy, many business owners have seen their personal net worth plummet and some are facing bankruptcy. (more…)
For many small businesses pricing products and services is more a matter of guesswork than logic. Mindful of competitor pricing, they make the mistake of simply undercutting to win business rather than carefully working out the price they need to charge – a price that not only covers the cost of doing business, but makes all the hard work worthwhile by returning a reasonable profit. (more…)
1. Know your business’ balance sheet thoroughly. This may sound obvious, but, as your accountant can confirm, many business people don’t know how cash flow works and its significance to keeping their operation afloat. (more…)
Most businesses operate to some extent on borrowed money, but borrowing too much means you’re paying more in interest than you need to. Borrowing too little means you’re under financed and won’t have enough capital to accomplish what you want to do. (more…)
