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Profit may not be the first thing aspiring business owners think of when they dream of taking control of their own destiny...
Pl an how you are going t o achieve your desired sal es l evel s -  What are you going to sell  How much of it are you goi...
Pl an your overheads and l earn how t o minimize t hem Understand what overheads you need to run your business each month....
-  -  Reduces stress because everything can be seen in black and white clearly. Builds new habits because variances can be...
3. Underst and t he Benef it s of a Cash Fl ow Forecast If a Budget is the most powerful tool to ensure profit then a Cash...
A business doesn t survive solely on profits  it survives on cash. Growing businesses especially need to be very attentive...
Cat egorise expenses -  Occupancy such as rent, power, building and contents insurance Admin such as salaries, superannuat...
5. Use t hese Cash Fl ow Forecast ing Tips Compare your actual cash flow against forecast at least weekly. 1. Find out why...
6. Underst and t he Power of Break-even Break-even sales, is the amount of sales you need to make to avoid a loss i.e. to ...
Now you need to know fixed costs. Let s say they are  30,000 per month. To work out break-even sales - take fixed costs of...
6. This creates another 116 days negative cash flow, from sale of stock to receipt of payment from the customer  7. You ca...
8. Creat e St rong Prof it abil it y and Cash Fl ow by Managing  The Seven Key Numbers t hat Drive Prof it and Cash Fl ow ...
b. Cost of your Product or Service Reducing the cost of your product or service can be done in a number of ways  -  Negoti...
d. Improve Cust omer Payment s Your business should not be financing your customer s business. Handling customer payments ...
e. Reduce Invent ory and  or Work in Progress In many industries inventory levels and your level of un-invoiced work  Work...
f . Review your pricing This does not need to be a published price or an increase to all your customers. There are numerou...
g. Review your Suppl ier Payment s This is also an area of your business that can result in a big improvement in your bank...
The biggest mistake people make is being too efficient, paying people too early and not using all the terms available. See...
9. Do What Successf ul Businesses Do 1. 2. 3. 4.  They have a Business Plan and a Budget  A Financial Road Map  They are s...