The power of public relations is its ability to alter individual perception, resulting in changed behaviors that lead directly to your organization's success. Its power really lies in doing something positive about the behaviors of a business, non-profit or association manager's important outside audiences - behaviors that MOST affect his or her operation. That's how external stakeholder behaviors are created that help achieve managerial...more
How To Avoid The Legal Pitfalls when Setting up Your Own BusinessNo matter who you are you will make mistakes at some point in your business life and unfortunately the law is not very forgiving - ignorance is not a defence. Here are some of the common pitfalls to watch out for when setting up your own business.PartnershipsA partnership is formed when two or more parties form to start a business, sharing the workload and investing capital to get...more
Interested in learning how to reduce development time, save money and stay in control? Business professionals can learn how to create well-defined processes with the easy-to-manage Process Approach of Plan-Do-Check-Act.Real Tools for Real Business ProcessIn MBA courses, students come across a lot of buzzwords and the theories behind them. And in the textbook, the terms look and sound great. But after they finish with their classes, they think to themselves: so now what I can I do with all of these terms like process mapping and control? How can I use these tools in my job, and why is it important for my business - in the real world?A Fresh, New Look Management EffectivenessEven though these business men and women are feeling a little discouraged, they still know the importance of attaining this knowledge. So, for their jobs, they look to take further courses out there like "How to Create Well-Defined Processes to Build Effective Management Systems." They are a little skeptical going in, thinking that they will get just more of the same quick and simple definitions. But, surprisingly, they are happy to say that such a course shows them something quite different. These courses fill...more
The long term benefits from pay per click advertising.Businesses are starting to look closely at the long-term benefits from pay per click advertising. Pay per click search engines are primarily used for sales in the now time frame, but they are also being used to build a business identity that their customers will remember. This form of brand...more
Every business needs money at one time or another. The process of obtaining financing can be daunting and the chances of success limited if it is approached in a disorganized or haphazard way. Lenders are conservative critters; however it is important to understand that it is their job to lend money, and they are happy to do so if their risk is...more
Sound financial business planning means taking ongoing assessment steps looking at the business from multiple perspectives including capitalization, expansion, menu concepts, cash flow and even an exit strategy. Whether you are a chef dreaming of your own restaurant, the head of a family business discussing succession, an independent considering retirement or you are thinking about buying or selling, determining the business market value is a necessary process for success.Adjust Cash FlowTo determine the profitability value a business falls into, it is necessary to determine the Adjusted Cash Flow of that business. The Adjusted Cash Flow is equivalent to its earnings before interest, depreciation, and taxes (EBIDT in accounting terms), plus additions or subtractions for owner's salary, discretionary, single occurrence, or non-cash expenses. Once a thorough analysis of the financial information has been completed, and the Adjusted Cash Flow determined, the category of Market Value is defined.In general, a privately owned single or small (1-3) multi-unit business will fall into one of the three profitability categories: Positive Cash Flow Break Even Asset SalePositive Adjusted Cash...more
So you want to open a restaurant? Many people come to me with their plans, and ideas after they have decided to build or open a restaurant. It is my responsibility to assist them in their planning process and determine how clearly they have thought...more
Continuing from the second article:6. About the aground mathematical model, let us to see the product k: First quantity received in 10/6/98, quantity 1,000, unit cost US$ 34.00. Second in 12/11/98, quantity 1,300, unit cost US$ 23.00 Third in...more
The Shadow knows. There used to be a radio program called The Shadow where the hero, Lamont Cranston, the Shadow, would overcome the shadowy forces of doom by clouding the vision of those around him. "Who knows what evil lurks in the hearts of men"...more
People will always stress that having a well researched business plan is key before you start your business. Although creating a business plan is often an important step in the evolution of a business, particularly if you need financing or you are...more
The choice of financing is an important determinant of whether a product reaches the market, or whether an existing business can survive. The choice of financing is an important part of being an entrepreneur and business owner, and the ability to...more
What is a balance transfer ?A balance transfer can be explained simply as a balance transfer! When a balance is transferred usually from a credit card, but possible from a bank account or loan to a credit card with a offer interest rate (usually 0%)...more