Practical Tips to Strengthen your Business

1.Entire team must have all the information about the business including the financials.

2.Make a 90day plan and break it down into months and weeks.

3.Measure your profit points daily.

4.Turn the team loose to reduce all unnecessary expenses.

5.All purchases must go through a formal purchase order process.

6.Turn on your accounting headlights not taillights. Taillight accounting tells you where you had been not where you are going.

7.Bonuses not raises.When you give bonuses money is already in the bank.

8.Keep no accounts receivables. McDonalds does not let you go the second window without paying.

Adapted from Strengthen Your Business by Robert Thomas Bethel.

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