GoFuckYourself.com - Adult Webmaster Forum - View Single Post - How much % of your profit u invest back in your bizz?

Haydos · 02-02-2006, 09:44 PM

you should give your business a health check at least once a year...

you may need to invest some time rather than money.

do little things like - compare the prices of your current suppliers to any new ones that may have popped up. Even tender your supply lines out - it is amazing how competitive some companies can be when you offer them business (especially if they can get one over their competitors). you will be shocked at the $$ you can save by simply negotiating with suppliers and always, always asking for a cheaper price...electricity, rent, labour hire, stationery, ISP, hosting etc..

check that you have the correct and best priced insurance cover in place for both your business and yourself eg life, business continuance, public indmenity etc. again $$ to be saved even before the crisis happens.....

are your administration systems running as efficiently as possible?

are your staff busy? have their roles changed in the last year? give them an annual performance review and maybe a necessary payrise (at as much as CPI). be sure they are doing their jobs so you can do tasks more valuable to the business (like networking in Phx..!!)

is your accountant and attorney offering you the services you need rather than ones they think you need?

has there been any changes in local, state, federal, international laws that affect your business - perhaps these changes can assist your business.

get amongst your accounting reports and find out what your gross profit margin, nett profit margin, assets / liabilities ratio, profit to asset ratio etc is and compare that to the last 3 years. Ask yourself questions like - have my assets increased in the last 12 months? have my liabilities decreased..? DONT BE AFRAID - This means dividing one number by another - it's not hard and your accountant should be doing this anyway. But YES - even you can do it !!

sit down and do 3 budgets for the next 12 months - the first should reflect your highest expectations, the second should reflect your lowest expectations, the third somewhere in between.

visit these budgets regularly - ie at least monthly!! adjust your monthly, weekly, fortnightly forecasts accordingley. (if u cant - hire someone that can).

freshen your business up a little - archive the old filing, or have a bonfire, throw out those old cases and dirty keyboards....clear the clutter from your office and life - you will be amazed at what you find....!!

have a holiday.....you will be more enthused and think better with a clear head

you will be absolutely astounded at the difference these few easy to do steps will mean for you and your business.

it is an investment that wont cost you much, but may make or save you plenty !!!!

i hope you havent fallen asleep

02-02-2006, 09:44 PM
Haydos Confirmed User Join Date: Jan 2006 Location: Down Under Posts: 308	you should give your business a health check at least once a year... you may need to invest some time rather than money. do little things like - compare the prices of your current suppliers to any new ones that may have popped up. Even tender your supply lines out - it is amazing how competitive some companies can be when you offer them business (especially if they can get one over their competitors). you will be shocked at the $$ you can save by simply negotiating with suppliers and always, always asking for a cheaper price...electricity, rent, labour hire, stationery, ISP, hosting etc.. check that you have the correct and best priced insurance cover in place for both your business and yourself eg life, business continuance, public indmenity etc. again $$ to be saved even before the crisis happens..... are your administration systems running as efficiently as possible? are your staff busy? have their roles changed in the last year? give them an annual performance review and maybe a necessary payrise (at as much as CPI). be sure they are doing their jobs so you can do tasks more valuable to the business (like networking in Phx..!!) is your accountant and attorney offering you the services you need rather than ones they think you need? has there been any changes in local, state, federal, international laws that affect your business - perhaps these changes can assist your business. get amongst your accounting reports and find out what your gross profit margin, nett profit margin, assets / liabilities ratio, profit to asset ratio etc is and compare that to the last 3 years. Ask yourself questions like - have my assets increased in the last 12 months? have my liabilities decreased..? DONT BE AFRAID - This means dividing one number by another - it's not hard and your accountant should be doing this anyway. But YES - even you can do it !! sit down and do 3 budgets for the next 12 months - the first should reflect your highest expectations, the second should reflect your lowest expectations, the third somewhere in between. visit these budgets regularly - ie at least monthly!! adjust your monthly, weekly, fortnightly forecasts accordingley. (if u cant - hire someone that can). freshen your business up a little - archive the old filing, or have a bonfire, throw out those old cases and dirty keyboards....clear the clutter from your office and life - you will be amazed at what you find....!! have a holiday.....you will be more enthused and think better with a clear head you will be absolutely astounded at the difference these few easy to do steps will mean for you and your business. it is an investment that wont cost you much, but may make or save you plenty !!!! i hope you havent fallen asleep __________________