Your Financial Business Support » derby http://www.yourfbs.co.uk Ed Hart provides Financial Business Support that's right for You Thu, 26 Aug 2010 09:16:21 +0000 en hourly 1 http://wordpress.org/?v=3.0.1 How to still be in business this time next year http://www.yourfbs.co.uk/how-to-still-be-in-business-this-time-next-year/ http://www.yourfbs.co.uk/how-to-still-be-in-business-this-time-next-year/#comments Wed, 27 May 2009 10:14:17 +0000 EdHart http://yourfbs.co.uk/?p=376 I presented a seminar last night to a group of business managers in Derby on the above subject. So that we all got to the pub at a reasonable time, I covered a few key points:

  • Ask yourself every day: “Am I doing the things today that will ensure my business is here in 12 months time? “
  • If you are not doing things that are about your business being here in 12 months time, why are you doing it?
  • Understand the difference between cash and profit – you can make a loss and make money, and you can make a profit and lose money.
  • Learn what the Balance Sheet is.
  • Write down what your business is for in less than 20 words. Print it out, laminate it, and stick it above your desk.
  • A bit of luck can go a long way.

These all seemed a bit obvious when I was preparing the talk, but after the presentation the audience reminded me how easy it is to forget the basics.

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