Often a reduction in interest charges as well as significant cashflow improvements can be achieved with a regular review of existing debt. A good place to start is to list all bank loans, mortgages, finance company loans, hire purchases, credit card debts, and any other debts (don’t include amounts owed to suppliers in this list). […]
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Carrying stock for too long means full shelves but an empty bank account. Similarly, if you’re a service provider and are taking forever to bill for your services, then you’re carrying too much stock in the form of work in progress. Consider that work in progress as a form of virtual stock. You can calculate […]
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Success in sport is all about playing your A game. Being the best you can be through preparation and training leading up to the game, as well as through your actions during and after the game – showing modesty and humility in success and graciousness in defeat. If everyone on the team plays their A […]
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How many days is it taking to convert your debtors, stock and work in progress into cash? This is your ‘lock up days.’ The higher your lock up days the more cash either you or the bank needs to tip into your business and the higher the risk of a loss of that cash is. […]
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Carrying stock for too long means full shelves but an empty bank account. Similarly, if you’re a service provider and are taking forever to bill for your services, then you’re carrying too much stock in the form of work in progress. Consider that work in progress as a form of virtual stock. You can calculate […]
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This isn’t typically a place where you will find a lot of wastage. Our experience is that business owners are very careful about managing their expenses, and the smaller the business is, the truer that statement is. Having said that, as a business grows, so do the layers of hierarchy. Management control can deteriorate, and […]
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