Ten steps to more money - Key concepts to drive profits, cash flow and ROI

摘要

Business executives often ask what one or two things they should do to be financially successful. It probably won't surprise you that a couple of big steps aren't enough. Rather, it's a hundred little ones that make all the difference. Even so, I have found that most financial successes are built around a framework, process or set of methods. The following is a brief outline of 10 actions my firm, Tidwell DeWitt, addresses in a seminar on effective financial management. Check and increase your "on/in ratio." According to noted author Michael Gerber, successful businesses require three sets of skills: technical, managerial and entrepreneurial. Doing the technical and day-to-day managerial work is working in your business - dispatching, scheduling, preparing the financial statements, hiring, training, etc. Doing the entrepreneurial part - seeking new business opportunities, for example - is working on your business. Many underperformers have an on/in ratio of zero to 10 percent. The best business builders are 50 percent or more working on the business.