Wednesday, January 12, 2011

Rules of Business Success

The success of any business is no longer dependent on the inventor or professional contractor turned company owner - running a profitable and efficient business may be an entirely new craft. By applying these rules of success – and a little bit of hard work and determination – business owners can master the craft of business management.
Over the next while Biz-Advisor will bring you the EIGHT Rules of Business Success.  Let’s start with the first rule:
Rule One: Produce profitable sales

Profitable sales begin with strategic bidding. The person who performs this task must be knowledgeable about the financial side of the business and understand the difference between variable and fixed costs. Variable costs such as materials, subcontractors and equipment rental will change on a regular basis. Fixed costs like rent, insurance and wages remain the same. Armed with this information, one can develop quotes with built-in, predetermined profits, and salespeople can be confident the business they bring to the company makes sound business sense.
Having valuable employees is another factor that contributes to sales profitability. With stable personnel in key positions, construction company owners only need to subcontract that which is necessary. This ensures quality, guarantees required workers are available and lowers costs–all of which impact profit.
Saverio Manzo

About me: I give Economic, Social and Global trend briefings from some of the world's brightest minds at my blog and I also provide true and tested financial planning and wealth advice. Most recently, over the past few years, I have become socially conscious and have been attempting to practise ways in which I can live my life more environmentally friendly.   Along with some truly exceptional friends, we provide consulting and business development for small-medium sized businesses.  In addition, I truly believe in being philanthropic, giving and doing unto other as we would have them do unto us. Some of my fondest resources are from Barry Ritholtz of The Big Picture, David Rosenberg and what Warren Buffett of Berkshire Hathaway is up to behind the scenes, as an example. saverio manzo


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