Grow,During,Recession,You,migh business, insurance Grow During Recession

Small offices have unique needs, and thatincludes document shredding. Designed with the smaller business inmind, the Dahle 20314 is a cross-cut shredder that offers Level 3security and brings you into compliance with federal regulations. The As we all know to live in this world we have to perform some activity by which we can earn money. There are many activities by which we can earn money and meet the standards to live in this society. And from one of them is franchise.  Franc

You might be forgiven for thinking of 'sales' or 'turnover' or 'profit' but that would be a mistake - what matters most is 'cash'. It could be foolish or illegal to trade without profit but it is impossible to trade without cash.As recession starts to bite there will be casualties; weak or vulnerable businesses will go bust. Astonishingly, profitable businesses with powerful business models will also go bankrupt; regardless of their sound business, it will be the shortage of cash that pushes them over the edge.So how do you raise your revenue during an economic downturn? The majority of small business entrepreneurs will say "The best technique to raise revenue is to increase sales, marketing effort and spending, do more trade"... "by lowering prices we can gain more business".Invariably incorrect. This is the way to become a busy fool. Do yourself and your family a big favour! Sit down and spend ten minutes playing with the numbers. (or get your accountant to do this with you). See how much extra profit is generated by a 5% or a 10% price increase. It may be 30 or 40%. Yes, you might lose some business, but overall it's likely your profits will be higher.....and you will be doing less work. Focus on the value that your customers need, this may perhaps be making things easy & accessible for them, providing quality, providing awesome customer service - all these criteria are matter to customers much more than price.So getting back to what matters you need a system to tell you what your position is - to forecast if you are going to run out of it, we are talking of course about the Crosby, Stills and Nash', the 'for mash get smash', the 'Arthur Ashe', the 'bangers and mash', the 'jumping Jack Flash': that's right - cash. 1.  Updated Accounts are required - every week, or at the very least once a month (not once a year) - it is your business. Therefore, it's your responsibility to identify what you owe, how much you are owed, how much you have got and how much you are going to need. 2. Set out a cash-flow forecast - consider carefully how frequently you need this, every quarter/month/week. Failure to do it frequently enough to keep you in control is inexcusable. Your accountant can assist you or you can buy a book from Amazon, also get or build an easy excel spreadsheet that you can use to track your cashflow. 3.  Clarify all terms in your initial contract and on all invoices.  4.  Assess new customers for credit worthiness - you can easily check it on the internet - and assess them until they have proved to be reliable. 5.  Have a system for invoicing, following-up and collection. Be sensible but be firm. Negotiate with anyone who owes you money. Hear out! Be clear and be tough. It is your funds that they owe you. Here's an easy version of the method we have, but you will get what I mean: Day 1: Issue invoice as soon as work has been completed   Day 7: Phone up to verify receipt of invoice with the right person; confirm that you can expect the invoice paid on the appropriate date. Day 14: Polite email if no payment received "We are sure that payment is on its way to us but just in case it has been overlooked" Day 20: Phone call "re outstanding payment", asking when it was due to be paidDay 25: Send a letter outlining the communication to date (including their so-called promises to pay) and explain that you can call within 48 hours to find out how the issue will be resolved Day 27: Phone to confirm payment has/is going to be made and when it can be expected. Day 30: Send letter including the 'Statement of Account' and 'Terms and Conditions' they agreed to and saying what you plan to do next. The 'what to do next' bit can be complicated. You need to consider how much the customer is worth for you, and how they may act in response. You can say you will refer the matter to a solicitor, and a simple solicitor's letter shouldn't be expensive. Next, it may be time to threaten Court action, or to issue a statutory demand (the form can be found on the internet and it is free!). However, you might decide that the customer is valuable to you, and you would rather hold on a little longer. Bear in mind though - that is your money!The whole process informs your customer that you mean business and that you are not the supplier to string along. Normally it is the case that if they are permitted to take advantage - they will!If you are polite and firm, and clarify that you are purely following the process they signed up for, then they'll normally understand. If it is a problem, think twice if you want trade with an organisation that doesn't keep its word and tries to keep hold of money that belongs to you! 6.  Keep hold to your cash as long as you can. Here is the other side of the coin! You could hold on to payments due to your suppliers. Discuss more favourable payment terms. Deliberately not paying suppliers when cash is tight could be a very short-term solution, leading ultimately to bankruptcy. If something goes wrong in the business eg: lack of revenue, you must have the information to hand to inform you of the problem.7.  Get yourself a capable & responsible accountant! Having information to hand on profit and loss, balance sheet and cash flow is something many small business owners 'get by' without. Ignore at your own risk!