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Success in business is elusive. Why do some businesses commence and flourish on a shoestring budget while others with seemingly unlimited resources struggle to survive? This book looks at four major areas of business: planning, management, marketing, and human resources. Many businesses fail to realize the importance of setting and maintaining achievable profit margins. Meeting the competitors price no matter what the consequences is an easy trap to fall into. Every business must have a strong cash flow, strong sales on extended credit terms is asking for trouble. Customer service, building and maintaining customer loyalty, innovation and brand building are just a few among many issues important to achieving business success. Handy Hints
The Rule of 72
If your business grows at the rate of 10% per annum, how long will it take you to double your turnover? A simple and easy way to calculate this is to divide 72 by 10(%) which gives an answer of 7.2 years. You can use the same constant (72) to calculate the time required to double anything. For instance how long will it take to double my investment at the rate of 6%? 72 divided by 6(%) = 12 years. |
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Price SetHandy HintsGoal planners suffer less from stress and anxiety because they are prepared; they arm themselves with a plan they can count on to take them where they wish to go. Personal goal setting effectively lessens stress and allows us to pursue our dreams with the confidence of a warrior.
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