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11 Things Small Business Owners Can Learn From The Supreme Court
1. Have A Strong Constitution - Justices deliver decisions by interpreting the U.S. Constitution. Never let the challenges of running your small business overwhelm your judgment.
E-Commerce Online Selling Equals Big Bucks!
Denise's Floral Arrangements is a home based business that provides silk floral arrangements for weddings, corporate events and banquets. Denise is thinking about a web-site to promote her products and services.
Winning in Business - Lessons from Lance Armstrong
Lance Armstrong this week won an unprecedented 7th Tour de France victory, confirming him as one of the greatest cyclists of all time. The fact that he won more Tour victories than anyone else in history is remarkable. But more incredible is that had to overcome life threatening cancer to dominate the Tour de France like no other athlete has ever done. From the Lance Armstrong story, there are many lessons we aspiring business champions can learn.
Small Business Owners - They Owe You The Money Why Dont They Pay?
Doesn't it frustrate you when you've given good service, sometimes super service, and the customer doesn't pay you?
Some of them aren't doing too well and are struggling for cash, but, gee, so are you. In the time they take to pay they could have paid off a little each week and the debt would be gone.
You know others have the money but it takes them six months of sending them copy after copy of invoices, letters and telephone calls before they open their purse?
And often the worst are Government Departments and large businesses. You don't want to lose sales to these customers but your cash-flow is hurting and you dropped your price to get the contract as well.
Is there any way to stop it?
Perhaps not completely, but there are ways to control the problem. Owners should have a clearly defined Rules of Credit which is known to staff and customers?and they should apply them consistently.
Many owners started off with some rules but over the years they have become lax at applying them. Customers and staff have become so used to breaking them that it's as though there are no rules at all.
The minimum rules are:
- Credit check for all new clients
- Credit limit for all clients
- Terms of payment 7 days, 30 days etc. Customers will have to negotiate a longer period.
- Procedure for letters 1, 2 and 3.
- Procedure for phone calls after letters.
- Cash Sales only after limit is reached or deviation from payment policy.
- Procedure for debt collection.
It doesn't matter what the rules are, as long as your customers know them and know that you will apply them without favor.
You may need some help from your accountant to fine-tune the procedure and help with the letters and telephone script. http://www.profitstrategies4business.com
About the Author
Kelvyn Peters CPA is one of the longest serving Tax Agents in Australia. He registered as a tax agent in 1962 and was appointed as a CPA in 1964.
He is well-known for his ability to rescue an ailing business. http://www.profitstrategies4business.com
Related Smart Small News and Articles From adzines
You will have to take many decisions when you plan to start a vending business. The primary decisions involve selection of the vending machine supplier, machine models, pricing, products and vending machine locations. As the owner of a new vending business, you may not be sure what rate of vending commission to offer to the location owners.
Provides a list of some the major advantages that buying a franchise can offer individuals who want to become a successful small business owner.
As a small business, the more you focus on a niche market, the more likely you are to be successful. The key here is specialization.
UPS power solutions are required whenever aberration of the utility mains supply will result in problems occurring, whether it is loss of data on a server or the failure of life-support equipment. It does not have to be an interruption to the utility mains supply; high volt 'spikes' occurring due to the operation of other plant connected to the utility power network can cause interruptions or failure of unprotected equipment.
With franching being business it seems that there ae few places to turn to for impartial advice. Where would you go?