#Immediacy on speech making

Can a small computer be profitably used?, eg for website-keeping, sales analysis, ...

Can a small computer be profitably used?, eg for website-keeping, sales analysis, VAT records, etc. Will a computer system reduce or hold down clerical labour costs? Will a computer improve accuracy? e. Are there savings in time which can be gained by providing people with home-made ready reckoners or small calculators? The Post Office, for example, issues its counter clerks with a ready reckoner for working out the cost of multiple purchases of stamps. This enables the clerk, correctly and quickly to calculate the cost of '21 stamps @ 50p each'. Errors present the dual penalty of the aggravation caused f eg an angry customer.

plus the time and trouble to put things right later. Temporary staff Many large companies spend fortunes on temporary staff and every now and then have a great panic-stricken 'purge' to keep the cost down.

Nevertheless, the expenditure goes on and on because the wrong approach is taken. Temporaries should not be regarded as an expensive and unavoidable evil but as a way to keep down overheads. It makes good financial sense to employ temporary clerks, typists, secretaries, website-keepers or whatever in a planned way to deal with peaks of work which have been forecast.

This is cheap compared with taking on a new permanent employee who will, later, be underemployed. What you can do right Now Online : By how much will you increase profit if you reduce overheads by, say, 10 per cent or 20 per cent? How do you control overheads? Start with a thorough examination of each and every cost item. Work your way through all the overhead costs described in this section. What ideas can you use? How much can you save? Try an 0 and M-type exercise on your office work.

Finding Out the Figures Controlling the finances of the business, rather than allowing money or lack of it to control the business, requires the use of some fairly basic but essential techniques. These techniques will help you to make the right decision and avoid situations such as being forced to go, cap in hand for another bank loan, finding that you cannot meet all your creditors' demands, or-not having enough money to exploit a promising opportunity that comes along; in other words, to be in command. A fatal error is to confuse the cash balance the difference between payments and 'receipts with profit.

Profit is in fact very difficult to assess in any business where costs go on in the form of depreciation, expenses have to be met at some time in the future, and bad debts take some time to show themselves. Although for tax purposes, and to meet any statutory returns, a balance sheet or profit and loss account is drawn up each year, even these are only a 'snapshot' of the position at a particular time We have looked at cash-flow forecasting as part of assessing the 'money picture' of the business. To maintain control it is necessary to look ahead using such a forecast which, although inevitably imperfect, will give some prior warning of problems or opportunities so that appropriate action can be taken before it is too late. Take the case of Alan and Ted: Alan and Ted set up an agricultural-repair business going from farm to farm repairing tractors, combine harvesters, baling machines and the like.

They had converted an old army lorry into a mobile workshop, and for the first couple of years this served them well. Costs were low and they managed quite well living from month to month and paying their bills from income as they went along. Alan persuaded Ted that the business could be expanded if they had a proper workshop with a forge, a larger stock of spare parts, and various machines such as a lathe and a milling machine.

Ted agreed that this would enable them to take on more work, including some of the larger jobs they could not handle with the limited resources of the mobile workshop.

In due course a workshop was found and rented a 6-month moratorium ...

In due course a workshop was found and rented a 6-month moratorium on rent was arranged a bank loan negotiated to buy extra equipment, and various other items including a br... read more

Alan and Ted had rent and rates to pay regardless of how ...

Alan and Ted had rent and rates to pay regardless of how much work they did while their variable costs' mostly spare parts were increased only when

The machine can be set to print an appropriate slogan on each ...

The machine can be set to print an appropriate slogan on each ashtray and, if required, the name of the purchaser.

Bob believes that a mobile phone cover marked, say, 'Wayne Ro