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THE TOPICS WHICH WILL BE COVERED DURING THE SEMINAR

Plus whatever subjects might come up during the Q&A sessions

​CAPITAL

  • The need for enough capital to start and run your business.

  • Do you have your own money, or are you borrowing.

  • The effect of borrowing on your profit margins.

PRODUCT​

  • Where are the sources of your products.

  • Are you buying price effectively.

  • What are your margins.

  • Are you relying on one source, or several.

  • Are you bargaining.

​PRICING

  • Are you pricing your products correctly.

  • Can you increase prices.

  • Do you understand margins and markups.

​EMPLOYEES & STAFFING

  • How are you hiring employees.

  • How much should you pay.

  • How many employees do you really need.

  • You’re unhappy with an employee.

  • Criticizing and employee.

  • A key employee is unhappy.

  • Giving raises, when and how much.

  • Terminating, the toughest part of being a boss.

  • Legal ramifications.

  • Vacation.

SALES

  • Sales staffing.

  • Brick and mortar vs. online.

  • Monitoring sales people.

  • Setting goals.

  • Stagnation.

  • New products, new sales channels.

DAY-TO-DAY OPERATIONS

  • Sales staffing.

  • Brick and mortar vs. online.

  • Monitoring sales people.

  • Setting goals.

  • Stagnation.

  • New products, new sales channels.

BOOKKEEPING

  • Utilize the correct software.

  • Without books there is no business.

  • In house vs. outsourcing.

  • Understanding the basics.

  • Accuracy and timeliness are vital.

 

ACCOUNTS RECEIVABLE

  • Billing accuracy.

  • Billing on time.

  • Actively calling and collecting.

  • Monitor the above 90 day column.

 

ACCOUNTS PAYABLE

  • Must utilize Purchase Orders.

  • Approval of each bill.

  • Match with Purchase Order.

  • Monitoring ageing.

  • Sign checks personally, no rubber stamp.

 

OVERHEAD

  • What does overhead mean.

  • Are employees considered overhead.

  • It can destroy your business.

  • Constant monitoring.

  • Key decision-making issue.

 

INVENTORY

  • Monthly monitoring and review.

  • Monthly comparison. 

  • Controlling theft.

  • How much and when to place reorders.

 

LEGAL & TAXES

  • Payroll taxes are a trust.

  • Sales tax are a trust.

  • Paying on time and the penalties and interest for late payment.

  • What is a S or C corporation and an LLC.

  • At what stage in your business should you hire a CPA.

 

S.W.O.T.

  • Strengths –

  • Weaknesses –

  • Opportunities –

  • Threats.

  • This is the cardiogram of your business.

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