Six Tips for Your Business Survival and Success in 2009

Six Tips for Your Business Survival and Success in 2009 Stuart Bale General Manager – Accounting Partners

#1 – Know why you’re in business
What are your dreams, vision & goals
Why did you start your business: http://www.e-myth.com/
Talk with your friends & family – they remember
One page business plan: http://www.onepagebusinessplan.com/

#2 – A bird in the hand
Identify your top customers
Call and visit them regularly
Say “Thanks!”
Ask them what else you can do (and how much they would pay)
Invoice your work, now
Offer discount if they pay up front, or before the due date
Ensure you deliver great service, everytime

#3 – Tell people what you do
Know your Distinctive Competence
Believe in your products & services, and yourself
Make sure the right people hear
Recognise and encourage referrals
Word of Mouth Marketing: http://www.womma.org/
Easy Online Promotion: http://www.davidmeermanscott.com/

#4 – Spend every dollar like it’s your last
Be sensible, take control
Spend, don’t hoard
Cashflow is the cornerstone of your business (and every other business)
Renegotiate prices with suppliers
Don’t carry dead wood, it costs you
Products
Clients
Staff
Services

#5 – Be financially well organised
Understand your current financial position
Cashflow
Profitability
Liquidity (particularly if you have stock)
Determine what you want to achieve (budget)
Record your progress (actuals)
Know your financial state every day, more than just your bank balance
Use the world’s easiest accounting system

#6 – Get help
Don’t try and do it all yourself
Accountant
Bank Manager
Customers
Suppliers
Staff
Online resources http://blog.xero.com/2009guide/
Visit the Xero stand for more

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Six Tips for Your Business Survival and Success in 2009

by Helen Matterson on Aug 09, 2009

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Six Tips for Your Business Survival and Success in 2009 — Presentation Transcript