Tips from September 21, 2009
The Small Business tips today will be about how to manage your finances by conserving capital.
- Know what sells best. Figure out number of units sold, best sellers, average order, buying trends and what your customers want.
- Determine prices by product, service, direct, and indirect costs, as well as keeping the image of the business & some profit.
- Be hesitant with money. Don't commit capital unless absolutely necessary. Know you absolutely need something, then go ahead.
- Conserve in the workplace. You can lease space, computers, or other office equipment instead of buying to save money.
Daily Overview: Every penny is important when trying to conserve capital: be smart, sensible, and resourceful.
