Without wanting to sound overly dramatic, a business that isn’t in good financial health is rapidly edging towards an unenviable end. The commercial graveyard is home to thousands of SMEs that failed to cure recover their financial health. So if yours is struggling, finding a return to profitable activities is the only cure.

 

Many failed businesses have been in your current predicament. Then again, it’s important to remember that many successful ventures have also been there. So, how do they manage to turn things around? Let’s take a closer look.

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Waste Reduction

 

The first step to recovering the financial situation is to start reducing the wasted cash. There’s nothing wrong with spending money in business, but every dollar wasted is another lost opportunity. Given that many of those upgrades can be incorporated almost immediately, this should be the first item on your to-do list.

 

Take the time to research different options for telephone service providers, web hosts, and insurances. Even if it’s only a few dollars per month, it can make a noticeable difference to those overheads. Just remember that taking the long-term contracts can often secure a better deal. In the worst case scenario where the business folds, those agreements will become void.

 

Another top trick is to use outsourced IT services. Not only does this save you a huge initial outlay, but it also ensures your systems remain up to date. For the immediate and long-term financial issues, this can be highly rewarding.

 

Responsible Lending

 

Often in business, cash flow is the main issue. The company might be moving in the right direction, but it still requires capital to make this progress happen. Borrowing money can feel daunting. In truth, though, it’s often a necessity to unlock the door to future growth and profits. The key, however, is to access those funds in the right manner.

 

Traditional bank agreements can be difficult to find, not least when the business is still in its infancy. The smartest entrepreneurs get through this issue with unsecured finance lending. Whether it’s to buy equipment or other essentials, the short-term boost can make all the difference. When this option is taken, though, timely repayments are essential.

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Even the biggest companies often take out loans to enable growth and expansion. If it’s good enough for them, it’s certainly good enough for you.

 

Sales Boosting

 

If money is leaving the business faster than you’d like, it’s also worth encouraging it to arrive a lot quicker too. A short-term sales boost can get you out of a tight situation, and may also work wonders in the war for new clients that can be turned into loyal customers. It can also be the perfect way to get rid of stock that isn’t selling while also creating space in the warehouses.

 

Hosting a special promotion day can enhance the presence of the company as well as its immediate sales figures. This in itself can be hugely rewarding as the brand identity will influence ongoing consumer trends. Timed offers presented through email streams can be very effective as they force readers to make a decision.

 

Your marketing strategies are one thing, but the advice of other consumers is what will truly win the battle for new customers. Referral schemes can revolutionise your strategies forever, boosting sales figures greatly. Given that the payments come directly from sales too, it’s a very cost-efficient answer.

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Monitoring   

 

A business that fails to keep track of its activities will always be more vulnerable to errors. As such, learning to monitor everything at all times could be one of the greatest moves you’ll ever make. Not only will it reduce the likelihood of making future mistakes, but it’ll also enable you to rectify issues far quicker.

 

Monitoring doesn’t just mean tracking income and expenditure. Modern accounting facilities enable you to gain a deeper insight into taxes and similar issues throughout the year. Working blindly until the annual reports are completed can now be a thing of the past, even for an SME. This increased sense of control can only have a positive impact.

 

Above all else, taking extra responsibility in this aspect of the venture is sure to encourage better habits elsewhere. Even without those indirect benefits, though, taking this action is a must.

 

Increased Productivity

 

If money feels tight, you simply need to make it work harder. From a business perspective, this usually involves seeking increased effort levels. Those sentiments can extend to technology, machines, and various elements. Ultimately, though, the initial concerns should be with the staff.

 

Employees can be the greatest asset at your disposal, but can also drain your finances too. A successful recruitment drive is important. Perhaps more importantly, you need to maintain a good sense of motivation. This can be achieved with great communication, regular perks, and better staff facilities. Those simple gestures truly do make all the difference.

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Streamlining your time is equally vital. Cut team briefings and meetings to 20 minutes, and embrace tech communications where possible. With more time at their disposal, the team will achieve far more. In turn, this can reduce costs and increase revenue.

 

Minimalised Risks

 

As a business, the basic formula for success revolves around low costs and high revenue. In reality, though, the sale price minus the production costs only tells half the story. Money can slip through the net in many different ways. Tighten your grip on those aspects, and you should see a very noticeable impact.

 

When selling items, you may let clients complete purchases on credit. When this happens, you trust them to make timely repayments. Not all customers will do this, which is why running credit checks can reduce the threat of bad debts. Once that money has been written off, you’ve essentially lost it forever. Sadly, this will hit profits hard.

 

Another danger that can hit you hard comes from theft or personal injury claims. A well protected and safe work environment should be the aim for all business owners. Aside from the financial benefits, it should provide a sense of emotional security too. If that doesn’t allow you to focus on the other jobs needed to restore stability, nothing will.

New Hair Do For A Brand New YouThis is a sponsored post. All opinions are mine.

Do you fancy a new hair do for a brand New Year?

I know I do as my hair is not at its best at the moment. When your  children start saying that your hair has every colour in it and you know the roots are rocking 50 shades of grey, it is time for a change.

We have moved recently and when  my son went to the  local hairdressers, he was really disappointed with the results. We had tears and everything. That put me off going and then suddenly the Christmas rush takes over.

So on Friday I am going to get an appointment made to sort myself out in the hair department.

As I get older, I am aware that I consider different options. Should I keep colouring and then not booking a cut on time so the grey roots show up? Should I just let it go grey but then you have that awful in between look like when you are growing your hair from short to long.

Whilst I am reinventing my look, perhaps I should consider human hair wigs for the first time.  I think it is great that the stigma around wearing  a wig has largely disappeared and rightly so. Gone are the days when wigs were ugly and so obviously fake. Nowadays they are made of human hair and come in a selection of styles that can match  your particular taste and attitude.

I could fancy something like the one in the image. I have tried to get hairdressers to dye my hair this colour so many times but they never believe I really do want this vibrant shade and so it ends up more subtle but not what I wanted.

Do you fancy a new hair do as part of a new image for 2018?

 

 

My Random Musings

A chocolate mince pie is a brand new idea for me but I tried it and even the children who normally hate mince pies were begging for me to make another batch.

Chocolate mince pie muffins

This delicious twist on the classic mince pie will have your guests reaching for more

 

Chocolate Mince Pie

 

Makes 10

Prepare 10 minutes

Cook 15 minutes

 

Ingredients:

  • 225g plain flour
  • ¾ tsp baking powder
  • ¾ tsp bicarbonate of soda
  • ¼ tsp sea salt
  • 80g Tate & Lyle caster sugar
  • 1 egg, beaten
  • 130ml whole milk
  • 50g Rachel’s Organic Greek Style Natural Yogurt
  • 30g Country Life Unsalted Butter, melted
  • ½ lemon, zest
  • ½ orange, zest
  • 125g mincemeat
  • 75g dark chocolate, roughly chopped

 

Method:

1 Preheat the oven to 200°C, gas mark 6; line a muffin tray with 10 cases. In a bowl, combine the flour, raising agents, salt and sugar. Add the egg, milk, yogurt, melted butter and citrus zests. Gently combine the mixture, taking care not to overmix or the muffins will be tough (a few lumps are fine).

 

2 Add in dollops of the mincemeat, about ½ tsp at a time, so it is broken up into little clumps. Stir in most of the chopped chocolate and gently fold everything together.

 

3 Divide between the muffin cases and top with the remaining chocolate. Bake for 15 minutes, until golden and firm to the touch. Leave to cool for 10 minutes before serving.

Chocolate Mince Pie Muffins

 

 

 

Shank You Very Much
Cuddle Fairy

Christmas goodwill is my favourite part of the festive season outside my own family celebrations. I love how everyone gives their time and attention in a more generous-spirited way. I see people reaching out to help others and more forgiveness too. I love how  charities benefit from unexpected donations at this time of year. I asked bloggers to share times when such goodwill made a big difference to their lives.

“My friends doing the pick up and the drop of the my kids when I am in need. They are such stars. I will never forget” www.ethannevelyn.com

 

Whisky Cocktail Recipe

“I worked in America doing door to door sales one summer when I was at Uni. I hated it. One day it was wet and I was so miserable. Some people found me, took me to a local church for a coffee, to warm up and gave me some money too” Counting to Ten
Campari And Gin Cocktail

“My friend travelled down from North London (about 1,5-2 hour journey) to help me just after I miscarried. She knew I had no family nearby, so she took time out on her only day off to come and help out. She brought healthy food, treats, some pampering products and took my toddler to the playground for an hour. It meant a lot and helped me tremendously.” https://www.scandimummy.com

 

 

Mulled Cider


“When my husband was in hospital post heart transplant, a gentleman in the next ward was due to go home. He left £150 by my husband’s bedside whilst he slept with a little note that read – Hopefully you will be out in time for Christmas” Sticky Mud and Belly Laughs – A Family Lifestyle Blog
Christmas Pudding Spiced
“A couple of blogger friends sent me a parcel filled with chocolate to cheer me up through a hard time recently. It really did mean the world to me that I was in their thoughts despite us living so far apart” www.fivelittledoves.com
Mulled Apple
“I had breast surgery in January to remove a Cancerous lump, 2 days after my youngest son had surgery to widen his wind pipe & remove tonsils.
It was a super difficult time for us & I cannot tell you how incredible my friends were”
Our Mummy Life Homepage
Christmas DoughNuts Recipe

A friend gave me some direct and solid advice about knowing my worth and as a result, I put up my rates which has enabled me to work a little less. By sharing what they knew and being honest they have made a huge difference to my workload and wellbeing” https://www.babybudgeting.co.uk

 

 

Gin Fizz Cocktail

“My aunt has always been there for me especially at times when I need her most. She didn’t get tired of helping me even if everyone else thinks that I am the one to blame for all the bad things in my life. She never quit on me. Since then I valued the bond and relationships to family members more than any material thing in the world” http://myparentingjourney.com/
Non-Acoholic Drink
These are lovely examples and the giver probably did not quite realise what a big difference they were making. Do you have your own examples of Christmas goodwill?
 

Are you looking for an interesting whisky cocktail recipe? If you are a fan of sloe gin too,  I have the perfect choice for you.

 

Whisky Cocktail Recipe

 

Paps sour

Serves one.

 

  • 35ml Jura Origin 10-year-old
  • Single Malt Whisky
  • 15ml Plymouth Sloe Gin
  • 25ml lemon juice
  • 15ml sugar syrup
  • 1 egg white
  • 2 dashes Angostura Bitters
  • Fresh ginger to garnish

 

Put all the ingredients in a shaker and shake without ice. Then shake again with ice. Double strain over a block of ice in a rocks glass. Garnish with a long slice of ginger.

 

Whisky Cocktail Recipe