Running a business

Running a Business: Doing business with the right suppliers




You start to make (or lose money) not when you are selling to customers but when you are buying from suppliers. Look for trusted suppliers.   Ask around in the industry.   The be...
Running a business

Running a Business: Doing business with the right customers




Business sense says you must find customers who bring you more business and discourage those who make you less profit (but involve the same amount of overheads and time).   Go after bigger ...
Running a business

Running a Business: Try not to run out of cash




Even companies, whose products are selling like anything, run out of cash.   Reason is simple: They are spending a lot in getting the product out to market (staff, inventory, manufacturing,...
Running a business

Running a Business: Set good business terms




The small print written on bottom of invoices of invoices, for example.   But they are more than that. They help you set up profitable and sustainable deals with your customers - you get pa...
Running a business

Running a Business: Keep track of all your costs




Track everything: Staff costs, overheads, interest on loans, overdraft (help you with any urgent, hopefully short-term working capital needs) fees, bad debt, matching purchase orders (when you send a ...
Running a business

Running a Business: Time management for entrepreneurs




An entrepreneur may not have much money for the business, but everyone has the same amount fo time everyday.   - Make realistic daily to-do lists   - Get more work done when you ...
Running a business

Running a Business: Get more sales




To get more sales, Read up on effective 'sales techniques'.     Find out why people are buying products from competition - is it about benefits, branding or both? Be help...
Running a business

Running a Business: How will people buy from you?




Use any method that gets you to where most of your customers are. Choose from this mix, or add your own.   - Retail shops: Common in industries with established distributor/retail networks....
Running a business

Running a Business: The Presence




Getting an office   Where will your office be? Where will be the product/service available? (physical location/s, web site, mobile app, other stores - offline and online, etc) &...
Running a business

Running a Business: Creating the product/service




Bringing it to life.   'How will I make it?'   Make rough notes on the idea:   - Use cases (stories of how customers will use the product/service)   ...

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