Bank plays a vital role in global business. It is difficult to manage your finances if you will just do it with your accounting staff. The intervention of the bank should always be considered because this is where you can put your money safely.
However, we all know that banks like to charge for their services. Of course, they cannot do your finances voluntarily. They should always charge your for their service because that is what they aim for. Before closing a deal with a bank, try talking to them and arrange a better deal. In short you must negotiate with them.
Review the account keeping costs that your bank is charging you. If they are charging too high in compared to any other banks, then time for you to decide to move on on banks which offer the same service at lower cost. Consider the interest rate being charged on the loans and review it, you must determine if they are charging you just fine, or it is just too excessive for you.
Showing posts with label global crisis. Show all posts
Showing posts with label global crisis. Show all posts
June 10, 2010
Survival Tip # 3 for Global Crisis: Refreshing the Business Plan
The time of the crisis is the perfect time for you to review and refresh your business plan. If you haven't any business plan, then it is time for you to sit down and think about how to make a good business plan for your business.
Relate your business plan in lieu of global crisis. How are you going to operate your business amidst the crisis. What are the priorities for your business? What are the factors that would make your business fail?
Identifying the challenges of global crisis can help you analyze and create a business plan that is crisis proof. You can also determine the strenght and the weakness off your business so you will know what to prioritize.
Review your business plan and ensure that it has the flexibility factor that would stand in time, no matter what happen. Seek help from the experts, they can help you create a nice business plan.
Relate your business plan in lieu of global crisis. How are you going to operate your business amidst the crisis. What are the priorities for your business? What are the factors that would make your business fail?
Identifying the challenges of global crisis can help you analyze and create a business plan that is crisis proof. You can also determine the strenght and the weakness off your business so you will know what to prioritize.
Review your business plan and ensure that it has the flexibility factor that would stand in time, no matter what happen. Seek help from the experts, they can help you create a nice business plan.
June 9, 2010
Survival Tip # 2 for Global Crisis: Cost Cutting
People tend to overspend if financial status is going well. As you obtain financial freedom, you tend to elevate your lifestyle. You probably buy things you haven't before. These things are often more of a luxury than need.
This kind of attitude should not be tolerated especially during this time of global financial crisis. Eventhough you are now capable of spending money for whatever you want, you still have to watch out of what you are spending. Be on guard against overspending and increase in debt.
You can't afford to lose sight of the full financial health of our business. Have a look at every aspect of your business in a wider scale. Know where you are spending your money.
To start your journey towards cost cutting, you must know where your money is going. then determine if it is important to spend your money on that things.Do a reality check. Determine if you can still afford those little luxuries like a new leased car, or the latest mobile phones, or that office renovation. Eliminate those who are not making sense in your business.
This kind of attitude should not be tolerated especially during this time of global financial crisis. Eventhough you are now capable of spending money for whatever you want, you still have to watch out of what you are spending. Be on guard against overspending and increase in debt.
You can't afford to lose sight of the full financial health of our business. Have a look at every aspect of your business in a wider scale. Know where you are spending your money.
To start your journey towards cost cutting, you must know where your money is going. then determine if it is important to spend your money on that things.Do a reality check. Determine if you can still afford those little luxuries like a new leased car, or the latest mobile phones, or that office renovation. Eliminate those who are not making sense in your business.
June 6, 2010
Survival Tip # 1 for Global Crisis: Review the Costs
During the global crisis, you must protect your business against unimportant expenses. It is necessary that you must conduct a review with your expenses such as rent, phones, electricity, motor vehicle expenses, consultancy and professional costs.
The review of your cost will help you evaluate whether you need to relocate to place with lower rent, take control over your telephone expenses as well as find the best deal available. Review your usage patterns and see if there is a better and suitable plan that you may take. You must also review the electricity cost and other relevant materials that may increase the costs in an irrelevant way.
In every transaction, you must always see to it that you are getting the best deal available. Do not simply close the deal when you know you are paying too much for it. You must always be careful with your negotiations. The costs you are paying should always be relevant to your business and make sure you are getting the most out of it.
During this time of global crisis, you should consider every single cent. There should be no single cent spent for irrelevant transactions.
The review of your cost will help you evaluate whether you need to relocate to place with lower rent, take control over your telephone expenses as well as find the best deal available. Review your usage patterns and see if there is a better and suitable plan that you may take. You must also review the electricity cost and other relevant materials that may increase the costs in an irrelevant way.
In every transaction, you must always see to it that you are getting the best deal available. Do not simply close the deal when you know you are paying too much for it. You must always be careful with your negotiations. The costs you are paying should always be relevant to your business and make sure you are getting the most out of it.
During this time of global crisis, you should consider every single cent. There should be no single cent spent for irrelevant transactions.
February 7, 2010
Global Business on Global Crisis
Global financial crisis is inevitable and uncontrollable. It is expanding and dominating the global market. Every country in the world is affected by the global crisis and impacting the global businesses.
To lessen the impact of global crisis, you must start reviewing your operational cost. Break down all your regular costs and check each item one by one. Determine which items need to be eliminated, if you can't eliminate it, determine if you can do something to lower the cost involve. For example, you may settle for a business location which will let you pay for a lower cost of rent.
Check also if you are using resources wisely. Are your employees making an excessive number of calls? In global business, you can use toll free numbers to reduce the cost of long distance calls. You can also consider the best deal available for your local telecommunication rate.
The global crisis is the best reason why you need to go through your business operation expenses. Review your expenses thoroughly and you will surely get the reward. If global crisis has ended, you can continue reviewing your operational cost and this will help you create a profitable business.
To lessen the impact of global crisis, you must start reviewing your operational cost. Break down all your regular costs and check each item one by one. Determine which items need to be eliminated, if you can't eliminate it, determine if you can do something to lower the cost involve. For example, you may settle for a business location which will let you pay for a lower cost of rent.
Check also if you are using resources wisely. Are your employees making an excessive number of calls? In global business, you can use toll free numbers to reduce the cost of long distance calls. You can also consider the best deal available for your local telecommunication rate.
The global crisis is the best reason why you need to go through your business operation expenses. Review your expenses thoroughly and you will surely get the reward. If global crisis has ended, you can continue reviewing your operational cost and this will help you create a profitable business.
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