10 Tips to assist the
management of your business

  1. 1Remember it's business, not personal - keep tight control of your debtors. You're not a bank!
  2. 2If in doubt, check them out - new business is great, but find out more about who you are dealing with and their history.
  3. 3Don't just renew, review - you may have a long-standing relationship with your current provider, but could you do better?
  4. 4Do unto others as they do to you - can you stretch your suppliers' credit terms? Perhaps you could defer payments (online filing of VAT could give you up to an extra 14 days payment time).
  5. 5Don't just turn up to the opening of an envelope - be more effective with your networking and focus on cross selling.
  6. 6Dust off your crystal ball - If you don't have projections or a business plan, you need to prepare them.
  7. 7Sort the wheat from the chaff. Assess your staff - is anyone under-performing in your organisation? Can you re-negotiate salary packages?
  8. 8Sometimes it's easier for sales to recur rather than occur - can you increase sales from your existing customer base? Perhaps a discount/price reduction will raise volumes.
  9. 9Don't bury your head in the sand. Remember - it's good to talk, so be open, constructive and proactive in your approach to improving business. Don't be afraid to make changes.
  10. 10Information, Information, Information! If you don't have up to date figures, how do you know where you are? (and where you want to be?) Don't neglect this important aspect of your business.