August 2007
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Day August 23, 2007

Small Business Failure – Reason: Fixed Cost

Even if you have staff - outsourced of employed - doing your bookkeeping and organize the payments for you, you need to make the decisions of when your suppliers get paid, so you can control your cash-flow.There are many more questions you could ask yourself, here I just wanted to get you going. If you have any more issues or are uncomfortable with any of your costs and answers to the above questions, then you should get some professional advice.Running out of money is the reason most small business and start-up business, like SOHO-, SME, SMB-, Micro-, Lifestyle-, Home-, DIY-, Hobby-, Boomer-, Professional-, Personal businesses fail, not controlling your fixed costs is one of the main reasons for this.

Small Business Checklist: Home Office & Home Business

As part of a bootstrapping exercise or a business start-up phase, working from home is a great way to work, so I thought of some points to consider when setting up your office or small business at home: Cost - you will save a lot of money and be very eco-friendly when you decide not to rent an office, this saving can be used in other areas of your business, like marketing, better web-site or better IT.Family - I suspect that many of you work from home because of your family, it allows you to be around when your kids come home from school or look after relatives, while still earning a living.Commuting - again a very eco-friendly approach and saves money and time.... I use social network communities to linkedIn to build out my professional network, utilizing our online office, skype and other tools to communicate worldwide.More and more of my friends work from home so we have nice "pub-lunches" locally, no traveling, less stress and a much better work/life balance - how is your work/life balance?For more of my checklists see the Small Business Checklists category and as always please add to my list with your comments, tell us what works for you.

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