Tips & Advice
Hunker in the Bunker I am usually an optimist, but since August, I have become more and more worried about the outlook for 2012, and clients continue to ask for financial management help rather than tax advice. We have to be prepared for meltdown after Christmas and even if that doesn’t happen, sharpening the business could be your New Year’s Resolution. Doing nothing is not an option. There is no trick. Sales can usually be increased by reducing margins, but Google "Profit/Volume" and know your break even. Tackle costs by starting with the largest, because you will not trim great swathes of overheads just by shaving your staff coffee bill. There are alternatives to redundancies, and you might renegotiate with suppliers by having fewer of them. You cannot do these things whilst multi-tasking. You must take time out to sit down in a quiet place and seriously consider the options. Remember that profit and cash flow are entirely different animals and treat them as such. |