There are very few businesses where everything is working perfectly, but a great number where the owner thinks that everything is fine. This mindset can best be summed up by the text of an advertisement I saw years ago that said (as near as I can remember): Another Month Ends….. All targets met All systems working All customers satisfied All staff eager and enthusiastic…… | | | |
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Expenses seem to breed and need to be sprayed regularly if they are to be kept under control. The problem in reviewing them is that the way accountants present them is not helpful and they need to be looked at in a different way that makes review easier. What I do is to reformat them in descending value and then, starting at the top, take one or two a month, isolate them and ask the following questions about each one. | | | |
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Business owners often balk at giving personal guarantees but they are a fact of life in most banking relationships for small to medium-sized businesses. What guarantors often overlook is the benefit to them of the bank having adequate collateral for the loan and ensuring that it has been properly perfected. |  | | |
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Barter is a legitimate mechanism, but it is rare that you find a situation where it really works on a 1 to 1 basis. All too often, you would not in fact buy the service if there was no barter involved, and it makes little sense to go ahead under those circumstances. | | | |
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