Minimize your Electricity & IT expenditure.

Buy a large screen LCD monitor for all, this may sound expensive at the beginning but it will save  30 minutes each day, or 100 hours per year. reduce electricity bills & increase IT productivity.  Use Google mail rather then managing your own mail server, this will save your IT cost up to some extent.

Cooperative with your employees & create a friendly work environment.

Give time for tea beaks & offer offer your employees  a free lunch,  however put a strict policy against guests meeting & short leaves. Buy a coffee machine this will make people go out of the office less.  Put drinks in the fridge for refreshment but ensure a smoke free environment at office.

Minimize your incidental & operational expenses.

Keeping in mind the nature of work each employee do, Buy cheap tables rather then opting for large luxury ones, but always remember to buy good sitting chairs. Do not manage separate office to everybody, but put 3 / 4 positions in each room to save space.  Rent the space you have spare, buy doing this your can minimize or even cut your office building rent.if possible Do not buy a phone system,  these days everyone use cell phone. yes you can spend some bucks in managing a fax machine, Outsource accounting and HR. this will save time & you will be free from the hassle of hiring HR manager on huge pay.

Job motivation & Negotiation with clients

Motivate your employees for better productivity by arranging monthly seminars & workshops. target employees are not addicted to work & give them warnings. Negotiate prices with clients  every six months. arrange meetings on weekly basis as how to increase productivity & minimize costs.

Lately I was reading the book “The Quite Millionaire” written by Brett wilder one of the top financial management consultant. This book is quite useful for small entrepreneurs as well as large scale businesses units, he identify some general (yet more important) threats that you can face in your business. So weather you are working with a small scale business or engaged with a large enterprise. You must need to be aware about the below mention threats. I have added my own conclusion/suggestion at the end of every point.

Debt. Is not bad in all situations, but in real business it is your enemy. A reasonable debit for getting a home is fine. But try to avoid debit as much as you can, Apply for a online payday loans from the privacy of home and get the fast cash you need, when you need it most.

Taxes. It is a chief responsibility to pay the taxes, always be fair in taxes to avoid fines in future

Lack of discipline. Without discipline, it’s difficult to build wealth. In fact, it’s impossible to get rich, so be disciplined always.

Materialism. You always need to focus on intellectual and spiritual pursuits to obtain fulfillment

Investment mistakes. As many investors learned last year, poorly structured investment portfolios can be a killer.

Inflation. Inflation is wealth’s silent enemy. It will not destroy you all at once. But it’s always there, nibbling at the corners of your life, consuming a little cash every year. It’s impossible to keep inflation completely at bay, but you can learn to mitigate its effects.

Uncertainty. The final enemy of success in business is the unexpected: unemployment, death, illness, and legal complications. A sound insurance plan may secure you. But don’t opt for the high rates security plans.

While the most important in the above mention is the 24 hours online banking facility, this is the best available way to manage your banks accounts while sitting at your home or office. At last a tip for entrepreneurs, a current account is more worthy if you frequently need cash in liquid form. Don’t go for the saving one. It’s suit with personal financers who have a bunch of surplus money & always look to make their money double in the long run with out practically doing any business.

The most effected industry is insurance in this recession, similarly on the other hand the companies who are under the umbrella of strong insurance policies, they are the least effected. So in today’s scenario one of the ways to protect your business is to get a secure insurance policy. Interestingly according to surveys, food/ hotel business is the only one, which is slightly effected from this global recession, so you can also make some contributions in the FMCG industry as well.

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High acceptance / usage
No hidden/ additional charges
High lending limits
No transaction charges
No monthly/quarterly/annual charges

Another good way of getting zero tax debit is to get the money from your friend, it’s no deal when you have to pay him back next month, by this you can save a lot.

Personally I am against insurance because its an extra burden of expenses on you. If you’re healthy & living in a place where the security & law & order situation is good, you can live an insurance free life easily. But in a situation where you are expecting high level of risk for your property & health, you need to go for an adequate insurance plan immediately.

I am a financial analyst & accountant by profession, at this blog my aim is to provide the latest highlights of business & financial issues from all over the world, with a focus on the latest finical discoveries, analysis & suggestion, today the world is all about give & take, so it is very important for people from all walks of life to be updated about the discoveries of financial analysis’s & latest business tips, money market, stock market, financial advices & marketing tips will also be in discussion in my upcoming articles. Similarly I will also update this blog with interviews of different business personals & the success stories of different financial & general organizations.

Work trade market is gradually changing with arrival of different trends in different business, A successful financier & entrepreneurs are the one who keep themselves updated with the all the changes that occur in the market. In fact a successful businessman is the one who knows more & more about less & less about business he is running.

Stock market & forex is directly related to our business, it is impossible that we neglect the importance of stock market while trading, infect we move our daily business routines according to the up & down occur in stock market. So here are few tips for beginners who want to start their own business of have intentions in buying shares of some highly reputed companies. But remember investing in stock market is of high risk these days due to the global economic recession. So understand the basic principals of stock market & forex trading before investing in it.
First let me highlight about the basic principal under which the stock market works, according to wikipedia a stock market “is a public market for the trading of company stock and derivatives at an agreed price; these are securities listed on a stock exchange as well as those only traded privately”

So as discussed above it involves buying & equities of different companies. The more comprehensive discussion about the current scenario of stock market will be discussed in the upcoming articles.