Category: Articles
80-20 rule of customer buying
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There is an old rule in business that predicts 80 per cent of your sales will come from just 20 per cent of your customers. This is largely true. Typically, you get the lion's share of your sales from people who ju...
Analysis techniques for financial management
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Over the years, a great many useful analysis techniques have been developed for financial management. Ratio analyses and break-even analyses are among the most popular. These concepts are not easy to describe and w...
Are you ready to hire?
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Before you even think about hiring staff, you need to consider these questions: How will the extra person make your business more productive and profitable? What sort of "hidden" costs will be incurred, such as ...
Business Start-Up Cash Needs Form
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Before you can start your new business, you will need to know how much cash you will need onhand to pay the initial start-up costs. This form not only gives you an idea of what you need to consider but also allows you...
Sample Task Inventory Form (OHS)
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Task Inventory Work sector: Date prepared: Signed: Work zone/location Task Plant involved Substances involved Manual actions involved Component steps of task Operator competency ...
10-30-60 marketing rule
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People often want to know how much they should spend on marketing. There is no standard answer, but there are some good rules of thumb you can use. The 10-30-60 Marketing Rule says to spend 10 per cent of your adve...
Adopting better stock buying practices
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Every shopper knows that sensible buying saves money. Unfortunately, not every business owner realises the importance of careful buying in keeping a business profitable. Look for settlement discounts, rebates, special...
Adopting stock purchasing and control procedures
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When buying stock there are two crucial components. Firstly, you must have a system in place so you are fully aware of the stock you need to replace and methods to predict when stock may diminish. Secondly, it is vita...
Advertising Analysis Sheet
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In order to promote your business effectively, you will need to advertise and choose the appropriate method for your business, such as newspapers, radio, TV etc. However, you should also ensure that the advertising yo...
Advertising and marketing tips
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"Selling Daily" - Sometimes we avoid silly and obvious promotions but they can get the job done. There can be great value in cheap things. The idea is to use cheap promotional items that your prospect will have a u...
