This document discusses several tools for evaluating a business, including using technology to increase efficiency, holding brief daily meetings to ensure everyone is on task, and utilizing office space strategically. It also mentions the importance of advertising, making small changes to reduce expenses, maintaining strong cash flow, enabling mobile working, using time efficiently, obtaining the best insurance deals, and addressing legal matters properly.

1. TOOLS IN EVALUATING
A BUSINESS
Applied Economics

2. Technology
■Use technology to speed up
workflow- Businesses should be
looking to innovations in technology
to solve day-to-day inconveniences
and to increase efficiency.

3. Efficiency
■Shorter meetings fuel efficiency-
Hold a brief meeting standing up,
every morning, where each person
explains what they are going to
work on that day to ensure
everyone is on the right track and
not wasting time on non-urgent
tasks.

4. Space
■Smart office space pays- Office
space can involve a big outlay
for SMEs, but it is also an area
where some smarter thinking
can make a real difference.

5. Advertisement
■Advertising keeps your business
top of mind so consumers think
of it when they require or need
a service or product.

6. Small Changes
■Small changes, big savings--One
way of improving efficiency is
for business owners to make
small changes to the way they
handle their company's
expenses.

7. Firm grip on cash flow
■Keep a firm grip on cash
flow-"Cash is King not
profit”. Ensure the right
management of your inflow
and outflow of cash.

8. Stay Connected
■Stay connected on the move-
The growing trend towards
mobile and flexible working
means that employees are
permanently connected and on
the go.

9. Time Efficiency
■Use time more efficiently-Being
more efficient is more about being
than doing. It's probably 90%
mindset, (Allan, 2013). In addition,
“The shorter the amount of time
you allow yourself, the more you
will get done”.

10. Best Deal
■Get the best deal on
insurance- Businesses need
insurance because it helps
cover the costs associated
with property damage and
liability claims.

11. Be legal
■Don't be lax with the
legal

12. ■In the hectic process of starting
up a business, the founders
often put off sorting out the
legal matters until later, or not
at all.