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Financial Freedom, Wellness, Time Management, Goal Setting

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Business Cost Reduction Ideas

July 5th, 2009 · Financial Freedom, Goal Setting, Network Marketing

The credit crisis is starting to really take hold and company profits are starting to fall. Now is the time to think about ways in which we can save money and it may also be prudent to appoint a business cost reduction specialist to help you to do this.

So where are the potential cost cutting areas in a business? Well this differs for each and every business however there are certain general business costs which can be looked at for the majority of businesses.

To start with there are potential telecom cost reductions. This includes obtaining cheaper business telephone calls, lower mobile phone bills, cheaper BT line rental and cheap calls in general.

The business cost reduction specialist is likely to be able to advise you on the potential savings that your business could make and this does not mean that you necessarily have to change the business telephone number.

As well as lower telecoms costs there are also lower charges to be had within the utilities, for example lower electricity costs. Then there is attempting to save money on the business broadband, the internet server costs, the printing and stationary costs as well as advertising costs.

These are just a few of many many changes that can be made which could ultimately enable your business to survive in this tough recession.

I run a stuttering therapy business and I have managed to save some serious cash by appointing a cost reduction expert.

In fact I know of many small businesses that have also managed to make some big savings by obtaining cheaper utility services such as cheaper calls to mobile phones.

I would recommend other people to also attempt to cut costs in this way, it has certainly proved to be of benefit to me and my business. I have to say that the recession would have been so much harder to cope with had I not managed to find these savings in my overall business costs. When doing my accounting I have to say that the overheads of the company sure look a lot better these days.

 

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How Travel Companies Are Keeping With The Times

July 5th, 2009 · Financial Freedom, Goal Setting, Network Marketing

The travel and leisure domain is one of the most fast pasted business environments work in. This is largely due to the ever changing demands from customers, the changes in technology in travel and the massive competition between holidays companies.There are companies out there in the industry that are struggling simple because they cannot keep up with the advances in technology and are being beaten by competitors who can offer their customers better channels of communication. Lets take a closer look at what methods travel companies are now calling upon to communicate with their customers better


Email. Although email is not the most modern of technologies, it is still evolving all the time and companies are increasingly finding new uses for it. Those companies who have embraced this technology, like Oceania Cruises, are using it to attract customers via newsletters etc, arrange travel bookings, deal with customer enquiries instantly, provide up to date information to customers on their booking and send out billing info to name a few.

Booking online. Even more companies are realising the potential of moving their booking systems online rather than forcing people to ring up or email they holiday requests. Consumers are also asking for more efficient, easier to use and quicker methods of booking and these systems provide just that. Obviously this is used alongside other communication methods but companies who do not adopt this, especially in the luxury cruises sector, will soon struggle

Social media. Everyone is talking about social media and how great sites like Facebook and Digg are at the moment, although lots of people have also been quick to criticise their usefulness. However, companies that are at the top of their game or willing to keep an open mind, much like Oberoi Nile Cruises, are reaping the rewards by communicating with potential customers on their own level and in an informal setting. Twitter is set to be a big player in the industry as people can follow individual companies and get instant information on the latest offers they are providing that minute

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Got Any Ideas Where To Find Team Building Exercises?

July 4th, 2009 · Financial Freedom, Making Money Online, Time Management

 

Team building plays a very crucial role in the development of any kind of businesses. As you are all aware, some companies have different department in it and if the management will not initiate team building, employees of the various departments will forever be alienated from each other and that’s not a good sign for whole business and the best thing that they can do is to hire a team building expert just for the rationale of improving the working environment and the attitude of every individual involved. They can find several team building companies on the Net that offer team building activtiies and it is strongly recommended that if they should hire a consultant, they should go to reviews sites first and in that way, can really convince themselves it that company is the right choice or not.

But a lot of companies right now are swimming amidst the raging tides of recession and hiring a team building company is the last thing that they have on their minds. There are some who have availed the team building exercises and ideas before but they called it “quit”, not because the exercises are ineffective but because of financial constraints. If they only have extra funding, they would certainly hire a team building expert regularly like once every 2 months to ensure that everyone involved in the company can work hand in hand for the betterment of everybody.

But when they have accidentally stumbled upon this site where they found a new team building company and went through the whole web pages, they have changed their minds. Now, they want to reconsider hiring a team building company and this particular company is the one that they want and it got lots of team building ideas that they are sure can be big help for the growth of their own organization.

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Risks and Rewards of Employee Satisfaction Questionnaires

July 3rd, 2009 · Financial Freedom, Goal Setting, Network Marketing

Although there are distinct advantages to conducting regular employee satisfaction surveys online to measuring employee satisfaction - there can also be risks.

Documented here are the main advantages, considerations and the possible risks to conducting employee satisfaction surveys online.

 

Advantages

Identify Problems - Surveys are can be very effective in identify problems areas before they become serious, especially those that are hidden from senior management.

Working Environment - From something small like a broken chair to the more serious problem of sick building syndrome that can result in personnel experiencing headaches; eye, nose, and throat irritation; a dry cough; dry or itchy skin; dizziness and nausea; and difficulty in concentrating. Surveys that focus on the environmental aspects of an organization will ensure that areas of concern are identified in a manner that can be properly measured and controlled.

Remuneration & Benefits - Measure and monitor how satisfied personnel are with their remuneration and benefits.

Mood and Moral - Provides a simple but effective method to measure and monitor the mood and moral of an organization.

Benchmark - In the same way that an organization will consider their financial position by comparison with previous years, so the regular use of online surveys will allow an organization to monitor and measure their progress and development in non-financial terms.

Processes & Procedures - As businesses evolve some of the traditional processes and procedures can become antiquated, personnel are often the first to know and the last to be asked. Businesses evolve and the business processes need to be regularly re-aligned.

Training - Lack of proper training is a common cause of dissatisfaction among employees and can lead to more serious problems such as stress.

Communication - For an organization to run efficiently good internal and external communications are essential, surveys can provide a method to help organizations to monitor and measure how well an organization communicates.

Goals and Objectives - Surveys can measure and monitor the extent that the personnel are aligned with the senior management’s business goals and objectives.

Cost Effective - Using survey questionnaire software surveys are quick and easy to create, simple to deploy and will provide real-time results.

Compliance - To properly comply with an ever increasing array of regulations the modern organization needs to be able to disseminate information throughout the organization and ensure, through records, that the information has been received, and importantly, understood. Online surveys can provide an organization with a cost effective method to meet many of their obligations.

Keeping the Initiative - It is always better for management to ask than be told. By conducting periodic employee satisfaction surveys the management is able to retain the initiative in trying to identify problems that could otherwise metamorphose into demands.

 

Considerations

Management Backing - A survey that is both sanctioned and has the support of senior management will go some way in ensuring that any action required, based on the survey findings, will be implemented.

Ask the right questions - Consider careful the questions being asked. If the survey is perceived by employees of just trying to tick the right boxes the survey could result in more negative attitudes.

An annual survey should ask questions that will provide senior management with an overall health check of the organization.

Avoid questions that will only apply to specific departments or personnel. If some areas of the organization require detailed investigation consider running separate one-off surveys that can be targeted at specific personnel.

Incentive - Most employees will feel that by being able to give their opinions that they are already stakeholders in the exercise and will be happy to participate in the survey as they will expect to benefit from the process.

However, to help improve the overall response rate some incentive could be used and it could also be used to encourage early participation.

Either all participating employees could be awarded a small incentive or entered into a prize draw for a much bigger prize.

Anonymous - The decision to allow respondents to remain anonymous or not needs careful consideration. A survey that is conducted anonymously may allow employees to be more candid, however, anonymity may encourage some individuals to make wild accusations that can not be substantiated and cause considerable concern. It is often better to keep everything ‘on the record’ rather than ‘off the record’.

Where survey respondents are known there is the opportunity to chase for surveys that have not been completed and also to follow up on some issues directly with those employees who have raised them as problems.

Comments - Keep free text comments to a minimum because they are difficult and time consuming to measure and analyze.

Limit the number of questions that allow for free text responses, usually one that asks for general comments at the end of the survey is sufficient and effective; where surveys are not anonymous, consider conducting further surveys to follow-up where the earlier survey identifies areas where additional and more specific information is required.

 

Risks

Management - Some managers can regard any form of employee consultation as a sign of weakness and may have a tendency to dismiss out of hand any negative comment.

Warts and All - A survey is likely to reveal warts and all. Senior management should be prepared for discovering that the top down view can differ from the bottom up view and that ignorance, of any identified problems, can no longer be used as an excuse.

Non-Action - Many employees will invest time and effort in participating in a survey and their hopes and expectations will be raised. Employees will be quick to develop a negative attitude if post-survey the issues that are apparent from the results of the survey are not properly addressed. It may result in it becoming more difficult to obtain employee feedback in future if the personnel start to regard it as a waste of time.

Management should formally respond to the issues raised in surveys even if the demands of employees are not to be met. If the senior managers have previously agreed to address and resolve some issues then that action should have at least been started before any further surveys are scheduled.

Can Cause Problems - Where surveys reveal, or bring problems, to the surface there could be a tendency for senior management to blame the messenger.

 

Summary

There are considerable benefits in conducting regular online employee surveys, but for them to be effective important considerations need to be made upfront. Employees can find responding to surveys therapeutic but it is the post-survey analysis and the management’s response and action that will ultimately determine how useful and effective the process has been.

For a sample employee satisfaction survey: Employee Satisfaction Poll

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Project Management Training Courses: So Many Options!

July 3rd, 2009 · Financial Freedom, Goal Setting, Network Marketing

Project management training courses come in many sizes, types, and flavors.  As Project Management is very popular topic among professionals today, there are many project management training courses out there to help Project Managers advance their skills and careers.  Choosing the right project management courses among the plethora of options, however, can be daunting!  This article provides some guidance to help project managers more easily sift through the myriad of options and find the ideal set of project management training courses for their situation.

Here are some steps a project manager can take to identify the most beneficial project management training courses for their situation:

1. Match Training to Current Challenges
A great place to start is to first look at current challenges and problems.  For example, Project Managers often have challenges gathering clear requirements for the project, or maybe have special challenges with stakeholders on their projects.  .  Another complex multi-dimensional issue is project communications.  Other less experienced project managers might like to work on their basic management skills.  This may involve taking project management training courses covering a broad project management methodology or framework and enhancing professional credentials by earning a project management certification.

2. Select Best Delivery Methods
As a second step, it is necessary to consider preferred methods of delivery for the project management courses.  The most popular include classroom, audio, and online project management training. 

Classroom training
Project Management Training Courses in the classroom enable students to give full, undistracted attention to learning.  They also provide in-person access to the instructor and students for both learning and networking.   However, classroom training is expensive, might involve travel, require the sacrifice of work time, and must be scheduled. The student also must participate in ALL topics, even those of lesser interest.

Audio project management courses
Audio project management training courses are gaining in popularity and can be very convenient, especially as a supplement to other training.  While many usually lack the visual learning aspect, some PDA-based audio programs, are beginning to add video, enhancing the ‘anytime, anywhere’ aspect of this training method.  For situations such as walking or driving a car, it important to assure that the audio alone is still effective.  In general, audio or PDA-based project management training courses are a great supplement to other learning methods. 

Project management courses online
Project management training courses can be taken online, and some are instructor assisted and some are simply pure, or individual, online training.  Some online project management courses are live and are led and facilitated by an instructor over the internet at a scheduled time.  These courses usually include the ability to interact online with the students and instructor during the class.  Pure, unassisted, online training, on the other hand, is self-contained, is available 24×7, and the student can easily screen for topics of greater interest.  Many online project management training courses also include and on-demand online mentor to contact for help.

3. Topics for project management training courses
Lots of topics are appropriate for project management training courses.  For example, something like Microsoft Project training might be a good topic for project managers who need to learn about a project management tool.  A new PM with a technical background might like project management training courses on transitioning from more technical functions to project management.  Others in the IT field, for example, might enjoy an IT project management course. There are many other topics, especially in the soft skills areas like leadership, management, and where a Project Manager can find just the right course at the right time to take skills to the next level.

4. Taking Action right Away
Once the choice is made, it is beneficial to take the selected Project Management Training Courses as soon as possible to have the maximum impact!  Realizing the benefit from project management training courses lies in applying the knowledge right away, and this also makes that knowledge one’s own for the long haul.

In summary, the way to get the most out of project management training courses is to choose a topic related to something of very current interest, something for which there is a burning desire or need and that can be applied right away.  Picking from among classroom, online, audio, self-paced, or other courses is an individual matter.  However, giving one’s full focus and attention to the project management training courses and applying what was learned in the right away ensures maximum effectiveness!

 

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John Reiling, PMP, PE, MBA is an experienced Project Manager and certified Project Management Professional. John’s web site, Project Management Training Courses provides online project management training for beginning managers and for PMP exam prep and PDUs. John also writes regularly in his blog, PMcrunch.com.

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Project Management Courses: So Many Options!

July 3rd, 2009 · Financial Freedom, Goal Setting, Network Marketing

Project Management Courses  exist in my sizes, types, and flavors.  As Project Management is very popular topic among professionals today, much project management training is available to help Project Managers to improve their skills and advance their careers.  Choosing the right project management courses, however, can become a bit daunting because there are just so many options!  This article provides some guidance to help project managers take some first steps in running the gauntlet of options to find the ideal set of project management courses for their situation, and get the most out of them.

Here are some steps a project manager can take to begin to identify the most beneficial project management courses for themselves:

1. Look at Current Challenges

One way best ways to start is to first identify current challenges and problems.  For example, Project Managers often experience special challenges with stakeholders on their projects, such as identifying, communicating, coordinating, and more.  Another frequently cited challenge is gathering clear requirements for the project.  Another popular topic is project communications, which can have many dimensions.  Many project managers are new to management and would like to enhance their management skills.  Frequently the best choice is simply to take project management training courses covering a broad project management framework or methodology and earn a project management certification to enhance personal credentials.

2. Consider Various Delivery Methods
As a second step, it is helpful to consider the preferred method of delivery of the project management courses.  In general, the most popular delivery methods include classroom training, audio training, and online project management training. 

Classroom training
Classroom-based project management courses provide the opportunity to give full attention to learning - away from daily distractions.  They also provide great value through the presence of the instructor and students, which enables discussion and resolution of issues on the spot.  also In addition, they present the opportunity to network professionally with others with similar interests.   On the other hand, they are expensive, might involve travel, requires trading off work time, and needs to be scheduled. It also requires the individual’s presence and attention for all tupics, requiring presence for all topics.

Audio project management courses
Audio project management courses can be very convenient for learning when driving or doing other things, but they usually lack the visual learning aspect.  Some PDA-based audio programs, however, are beginning to add video, which is helpful, thus enhancing the ‘anytime, anywhere’ aspect of this method.  In general, audio or PDA-based project management courses are a great supplement to other learning methods.

Online project management courses
Online project management courses include both instructor assisted training and pure, or individual, online training.  With instructor assisted online project management courses, a live course, led and facilitated by an instructor, is taken at a scheduled time over the internet, and the student can usually interact with the students as well as the instructor, or even an assistant instructor, during the class.  With pure, unassisted, online training, the course is self-contained and is available 24×7, and student can easily skip over topics of little interest and focus more on those of keen interest.  Many online project management courses also have a mentor or online help available for on-demand assistance.

3. Topics for project management courses
Lots of topics are appropriate for project management courses, and the key is to pick something of current interest and value.  For example, training on a project management tool might include something like Microsoft Project training, someone in the information technology field might like to learn transitioning from more technical functions to project management, and yet someone else might like an IT project management course. There are many other topics, especially in the soft skills areas like leadership, management, and communication where just the right project management courses can be found to take project management skills to the next level.

4. Hit the Iron While It’s Hot!
Once the choice is made, it is best to take the selected project management training courses as soon as possible!  The need and desire will be at its peak, and the impact will be the highest.  Waiting even a few weeks may be a big mistake, as the ability to make an impact on a fast-moving project may dwindle.  Realizing the benefit from project management courses lies in applying the knowledge right away, and this also makes that knowledge one’s own for the long haul.

In summary, the way to get the most out of project management courses is to choose a topic related to something of very current interest.  Select project management courses about a topics of current interest, something for which there is a burning desire or need, something that can be applied right away.  Picking the right method of course delivery for the individual, whether classroom, online, audio, self-paced, or other, and scheduling the courses is the best approach.  Finally, giving one’s full focus and attention and applying what was learned in the project management courses right away is a sure path to success!

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John Reiling, PMP, PE, MBA is an experienced Project Manager and certified Project Management Professional. John’s web site, Project Management Courses online project management training for beginning managers and for PMP exam prep and PDUs. John also writes regularly in his blog, PMcrunch.com .

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Project Management Course Choices Abound

July 3rd, 2009 · Financial Freedom, Goal Setting, Network Marketing

The topic of Project Management is very popular among professionals today, as project management skills can really help to advance your career.  Choosing the right project management course becomes the next challenge many professionals who want to build their project management skills.  This article outlines the top considerations for identifying the best project management course for you as an individual, as well as how to get the most out of it personally and for your career.

One way great way to begin to choose a project management course is to look at the problems you are facing today.  For example, perhaps you are having some special challenges dealing with stakeholders.  Maybe gathering requirements effectively is your current challenge.  Often times you can identify communications problems on your project and would like to learn more about tools and techniques for managing these problems.  Perhaps you would like to enhance your management skills.  Perhaps also, you simply would like to learn a broad project management framework or methodology and earn a project management certification to enhance your credentials.

Once you have this idea in mind, it is also helpful to consider the method of delivery that you prefer for the project management course.   The typical delivery methods include classroom training, audio training, and online project management training.  Classroom training has the advantage that you can give it your full attention as you are away from daily distractions.  There also is great value in being present with the instructor and students to discuss and absorb points on the spot as well as network.   On the other hand classroom training is expensive, might involve travel, requires trading off work time, and needs to be scheduled. 

An audio project management course can be very convenient, but lacks the visual learning aspect, so it often is a great supplement to other learning methods.  Some PDA-based audio programs are beginning to also offer the video, which is helpful, but it important to make sure that the audio delivery taken alone is effective for this medium when you cannot look.

Online project management training includes both instructor assisted training and pure online training.  With an instructor assisted online project management course, you take a live course over the internet, and the instructor is leading and facilitating the course.  In this case, you may have the ability to interact with the instructor and students during the class.  With pure online training, on the other hand, the course is self-contained and is available 24×7, and you can easily skip over topics of little interest and focus more on those of keen interest.  Often for the pure online training a mentor or online help is available for assistance.

Another decision is about the topic of the project management course.  For example, you might have a need to learn about a project management tool, so something like Microsoft Project training might be a good choice.  You might be in the information technology field, and perhaps you are transitioning from more technical functions to project management.  In yet another situation, perhaps an IT project management course would be a great choice. There are many other topics, especially in the soft skills areas like leadership, management, communication where you can select a sub-topic that will help take your current skills to the next level.

A final key is to choose and take that selected project management course right away!  Once the decision has been made, the desire is most likely at its peak, and you will get the most out of the project management course at that time.  If you wait even a few weeks, sometimes the issues you are facing may shift, and your ability to absorb like a sponge and immediately apply your new knowledge may diminish.  You want to be able to realize the benefit rapidly, and also making that knowledge your own for the long haul.

In summary, the way to get the most out of any project management course.  is to choose a topic related to something of very current interest.  Select a project management course about a topic of current interest to you, something for which you have a current burning desire or need and that you will be able to apply right away.  Pick the method of delivery of the course that best suits you, whether classroom, online, audio, self-paced, or other, and schedule yourself as soon as possible.  When the time comes, take the project management course at your own pace, but make sure you can give it full focus when you do.  Most importantly, apply what you have learned in the project management course right away!

 

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John Reiling, PMP, PE, MBA is an experienced Project Manager and certified Project Management Professional. John’s web site, project management  course provides online project management training for beginning managers and for PMP exam prep and PDUs. John also writes regularly in his blog, PMcrunch.com.

 

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Project Management Training Course Opportunities Abound

July 3rd, 2009 · Financial Freedom, Goal Setting, Network Marketing

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Project Management is broad and popular among professionals today, and it is not hard to find an appropriate Project Management Training Course to help build your project management skills and advance your career. This article outlines some key considerations for finding the best project management training course and how to get the most out of it personally and professionally.

 

You can start the process of choosing a project management training course by first looking at the problems you are facing today. For example, perhaps you are having stakeholder issues, or maybe gathering requirements effectively is your current challenge. Communications issues on your project may also be the ‘issue of the. Perhaps at this point in your career you would like to enhance your management skills, or maybe you simply want to learn a project management methodology or framework or enhance your credentials by earning a project management certification.

 

With a clear idea of your burning issues in mind, you will want to consider your preferred method of delivery for your project management training course. These typically include classroom training, audio training, and online project management training.

 

Classroom training has the advantage that you are away from daily distractions and can give undivided attention to your project management training course. There also is great value in being in the same room with instructor and students, which is helping for learning as well as networking. However, the benefits come at a price as classroom training is expensive, often involves travel, involves the opportunity cost of missing work time, and needs to be scheduled.

 

An audio project management training course may be a convenient option, but the visual learning aspect may be missing. Even so, some PDA-based audio programs are appearing with video, which is helpful, but make sure that the audio is effective without the video. This training is a great supplement to other learning methods.

 

Online project management training courses include both pure online training as well as instructor assisted training. With pure online training, on the other hand, the course is self-contained and is available 24×7, and you can easily skip over topics of little interest and focus more on those of keen interest. Often for the pure online training a mentor or online help is available for assistance. With an instructor assisted online project management training course, you take a live course over the internet, and the instructor leads and facilitates. You may also be able to interact with the instructor and students during the class.

 

The topic for any project management training course can run the gamut in the wide open field of project management. For example, you might need to learn about a project management tool, and Microsoft Project training might be a good choice. Maybe you are in a technical role and would like to learn about transitioning from a technical function to project management. Perhaps you are in the Information Technology field and an IT project management training course would be a great choice. Many other great project management topics abound in soft skills areas like leadership, management, and communication.

 

In choosing any Project Management Training Course it is best to choose a topic immediate interest - something for which you have a current burning desire or need and that you will be able to apply right away. Pick your preferred method of delivery, whether classroom, online, audio, self-paced, or other, and select and take your project management training course as soon as possible. When the time comes, take the training at your own pace, but make sure you can give it your full attention. Most importantly, apply what you have learned in your project management training course right away and make it your own!

 

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John Reiling, PMP, PE, MBA is an experienced Project Manager and certified Project Management Professional. John’s web site, Project Management Training Course provides online project management training for beginning managers and for PMP exam prep and PDUs. John also writes regularly in his blog, PMcrunch.com.

 

 

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Budgets and their relationship with Cash flow forecasting

July 3rd, 2009 · Financial Freedom, Goal Setting, Network Marketing

small business accounting software

Budgeting is critical as it gives you an in depth of the relationship between the multiple financial activities that will happen in your company and helps you foresee and get ready for changes that will inevitably happen in the period ahead. Budgeting makes you focus on activities you have to improve to increase profit and gets you prepared for the way ahead. A detailed profit budget highlights what balances you can expect in your cash flow.

The more cash you realise from profit the more space you will have for manoeuvre when opportunities or problems crop up. The best way to track how you are doing against your budget is to use the cash flow forecast reporting tools found in all good small business accounting software .

Creating more profit does not automatically create a better cashflow . Do not fall into this trap

Any deviations from what you budgeted for your cash flow from profit should be studied carefully. Any changes from what you expected] you spot should be analysed to see if you have an opportunity or a problem.

small business accounting software most often contains reporting tools that allow you to drill down on the numbers and understand the contributing values.

Higher sales can often mean higher expenses as the business often needs to use more cash to support sales growth.

You should enter all expenses and sales activity into your small business management software as soon as they occur so as you can report an accurate forecast and make corrections or adjustments in line with your budget.

Good businesses religiously track and measure their cash flow forecasts against their budgets and there is simply no excuse for not doing this any other approach is irresponsible, dangerous and eventually fatal.

I wish you well and good luck with your business.

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Discover how to avoid business failure – the importance of sales forecasting

July 3rd, 2009 · Financial Freedom, Goal Setting, Network Marketing

sales forecasting software

Less than 50% of businesses survive more than five years. Check government statistics if you don’t believe me

The gurus propose the reason for death is the failures simply ran out of money. This explanation is not very useful and so I decided to track down individuals directly and indirectly involved in failed businesses to see if I could determine the details, establish any common reasons for failure and post them on the internet in the hope that my results would help others avoid a similar fate. I discovered eight consistent reasons for business death. Here are three of them:

No Vision, mission or strategy

“If you don’t know where you are headed then how are you going to get there?” You have to have a clear picture of what you want to achieve and how the environment will be for your business if you achieve it. To achieve anything you must have a strategy. Strategy can be likened to a route map it shows you how to get there. It’s a structured plan of actions. To make a strategy work you have to create a business plan that not only contains the key actions and milestones but can used to measure business performance against. A key tool for monitoring business perfomance is the sales forecast.

Lack of a system for marketing or sales

Marketing is about identifying markets and trying out strategies to position your proposition in the minds of prospects and moving them into your sales pipeline. Sales is about engaging the prospect and getting them to buy your product or service. Marketing is a process of measuring and refinement of the ways you use to reach prospects. Sales is the process of acquiring leads, forecasting sales and closing sales. In well run businesses a good marketing and sales system is often supported by a effective sales forecasting software system. Systems like these enable you to track and measure the events and outcomes in the sales and marketing processes. These insights arederived from reports generated by the system which can then be used to compare planned vs actual results. In summary what gets measured gets improved or discontinued. This is the key formula for success.

Lack a system to monetise their existing customer base

There is a common rule that 80 percent of your sales should come from 20% of your customers. Your focus is to achieve or surpass this number. Customers who have previously purchased from you are simpler and more cost effective to sell to than prospects that have not. A combination of decent web based crm software and sales forecasting software should give you the insight of recent activity and allow you to search for opportunities in your current customer lists.

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