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Keep Control of Your Business

Whichever type you are you must maintain control over your business.

People are different – some thrive on a high activity level while others prefer one thing at a time. Whichever type you are it is important to keep control of your undertakings.

Using your skills in financial management is important to keep in control.

Am I a potential control Loser?

Everybody who has his or her own company will now and then lose control. Suddenly management of the business is getting out of control and you get the feeling of losing ground.

  • Do you often get ideas you want to try out here and now?
  • Is your office/work space a shambles?
  • Do you often have a hard time finding your things? Also on your PC?
  • Do you rarely plan ahead?
  • Is it continuously hard for you to meet deadlines?
  • Do you often work overtime?
  • Do your tasks tend to outgrow you?
  • Does payment of rent always come as a surprise to you?

Affirmative? Then you probably suffer from control management problems.
Then you probably also have problems keeping accounts. When accounting is bad financial management becomes very difficult.

Tools for control

Try to start planning your work. Instead of letting circumstances run your business you should be the one in charge.
You can not plan everything but you should at least set the course.

Consider the following issues:

  • Delegate work – you probably have competent staff
  • Get yourself a calendar – and use it
  • Make sure to update your appointments – make memos as you make appointments
  • Avoid, whenever possible, tight deadlines
  • Schedule the contents of your meetings – e.g. by means of agendas
  • Prioritise crucial issues and make important decisions when you are most energetic (in the morning)
  • Finish one task at a time whenever possible
  • Make a schedule for tomorrow – at the end of the business day at the latest
  • List current tasks – if possible, outsource some of them
  • Hire a freelance bookkeeper or let your accountant take over the accounting routines
  • Orderliness
  • Maintain order on your desk and in your workspace
  • Use a box system to prioritise your documents/activities
  • Ensure easy and logic filing (folder systems) – also on your PC
  • Remember frequent back ups
  • Work in peace
Go to next business issue: Mark Up and Contribution Ratio

Month end is approaching - Keep calm and carry on accounting.
- Unknown accountant

Gross Profit - how to act on it
SWOT Analysis + PO
Contribution Ratio vs Markup
Credit Sale
Contribution Margen or Gross Profit
Influence on Profits
Fixed Costs / Overhead Expenses
Terms of Sales and Delivery
Reduce Stock
Keep Control
The Art of Consultancy
What is Accountancy?
Principles in Accounting
Understand Financial Info
Safeguarding Your Assets
Help to Take Action
Close your Business