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Hub You - Running A Business Economically
Owning a trucking company or logistics company (freight brokerage) can be very profitable. At the same time, transportation companies tend to be cash hungry. There are fuel expenses, employee expenses, operator expenses, repair expenses and many other expenses that need to be paid quickly. However, most customers don’t offer quick-pays and usually pay their freight bills in 30 to 60 days.This creates a major challenge. Why? You have expenses that need to be paid quickly and customers that want to pay slowly. Unless your compan
Mary had "attitude". Her manner was rude and uncooperative and her colleagues complained, but she was efficient. Her supervisor believed he was stuck with a problem that couldn't be solved. He reasoned that in any office there was always someone that didn't get on with the rest of the staff, and as long as Mary was doing her job, he couldn't do much about it. Wrong.Behavioral problems in the workplace can and should be addressed quickly and effectively for the sake of clients, colleagues, customers and suppliers. Here is how.
Economics involves the way you use your resources. It involves knowing your business’s limits and knowing how to push sales or production to its maximum. Many
In recent years executive coaching has become increasingly popular. Once limited to entrepreneurs and CEOs, coaching is now finding its way into middle and lower levels of management. Why are more companies funding the advancement of coaching to lower levels of management? The answer is simple: ROI. According to a recent study, the average ROI (return on investment). The same survey set a dollar value on the ROI at more than $100,000. Surprisingly, this dollar figure was based on the actual reports from executives who estimated
Economics involves the way you use your resources. It involves knowing your business’s limits and knowing how to push sales or production to its maximum. Many
We walk into an interview with the unspoken assumption that the employer knows we want the job. Except for practice interviewing or cold calling, we put out the time and energy for an interview because we think the position is worthwhile and will be a good fit.The employer may be interviewing many people for one position and has to weigh the strengths and weaknesses of each candidate in a very short period of time. Quickly jotted interview notes reveal doubts about certain applicants and positive aspects of others. Whatever po
Economics involves the way you use your resources. It involves knowing your business’s limits and knowing how to push sales or production to its maximum. Many
Bootstrapping in the context of business start-ups refers to the use of creative financing approaches such as leveraging personal savings, credit-card debt, loans from friends and family, bartering, and other means to launch a business. Some business founders use bootstrapping because they have no other choice. Just about anyone who has approached a bank has learned that “only established businesses need apply.” Bankers typically look for cash flow, assets, an established customer base, and a successful track record on the part of
Economics involves the way you use your resources. It involves knowing your business’s limits and knowing how to push sales or production to its maximum. Many
Here are 5 common reasons why your projects are going over schedule, over budget, and generally under expectations of quality. 1. Overextending on your resources: Or simply doing more than what your resources whether it be in finances, human capital, strategic partnerships, time, etc. 2. Micromanaging: Instead of looking over the shoulders of your team mates, focus more on the overall strategy alignment and faciliate intra/extra departmental communications. 3. Lack of strategic vision, feature-creep, too
One of the key ways to run your business economically is to understand the numbers behind the receipts and bills. A strong understanding of how money works and the way it relates to a business is important. To achieve this you must keep up to date and have accurate records. A strong knowledge of accounting is very important. Understanding the numbers involved in the business will show you how one decision affects another and what must be done to achieve a particular result.
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