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.

The differentiating characteristics of the two? One is aimed at everyone whilst the other is pointed to those over and above the age of 62. This age specific targeting, I believe, has caused the bad press. Selling to the over 60s has the same connotations of vulnerability that arises with selling unwholesome food to children.

What concerns my self is that in almost every other market or position; elder householders are considered the most clever; the sage ones that most seek counsel and warning from. So for what excuse, when it comes to anything online or many types of business offering, do we treat the elderly with children gloves! Interrupting like a brave knight to save them from their own selves. Do we really believe for one minute that they’re blindly falling for reverse mortgages like a field-mouse? No, I did not think so.

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.

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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.