Bob

The world of business finance is sometimes viewed as having its own language. While this isn’t the case entirely, there are many unique words that are used solely to describe financial terms. Because of this, its important to have a basic understanding of the terminology used in business finance. This post looks at some of the main terms used in the business financial world. Budget In the financial world, a budget is an amount of money that has planned expenditure. This could be on a particular activity or resource, typically over a trading year, although budgets can apply to shorter and longer periods. Cashflow The movement of cash in and out of a business...

All businesses work with customers in some way. The nature of business is that it provides some kind of resource to another entity. With this as a foundational aspect of business, it is clear that connections, physical or otherwise play an important role. Because of the connections that are made, a successful business is one that understands how these connections work. The only way to really understand this, is to understand the customers you are working with. Understanding your customers will provide a great deal of clear analysis that your business can immediately integrate into its working operations. This analysis comes in the form how your business works. Not just in a general...

An important part of business is the understanding other businesses. Other businesses that could be constructive in helping your own, and others that are destructive in their operations, for themselves and yours. Being able to spot the constructive and destructive aspects of another business is difficult and is a skill that takes many entrepreneurs years to understand. However, these aspects are in all businesses so beginning to learn the skill can be done immediately. Some businesses may have seemingly successful approaches to their operations. They may have many clients and turning over a great deal of money, but are still destructive. These are the businesses that are running on soft foundations....

Downtime can be a dreaded prospect. The period of time in which the business is not doing what it should be, downtime can make a business seem useless. But, it is possible to make something from this and your business may even be able to benefit from it. When a business goes into downtime it’s the perfect opportunity to look at the structure and inner workings of it. When the business is at a stand still, many things you may of considered as minor facets may suddenly become huge areas in which big changes can be made. The advantage of this is that these changes can now be made. When the business...