Create a business from scratch or buy a ready-made business. Both methods of organizing entrepreneurial activity have their pros and cons, “pitfalls”. However, if, when starting a business from scratch, company registration procedures are standard and known in advance, and further development depends on the efforts made, then in the case of buying a ready-made business, everything is far from transparent.
Pros and cons
What may appeal to the purchase of a ready-made business: it has passed the state registration procedure, there are settlement accounts, the company has a certain history and name, a certain staff, an established customer base and business tactics. Continue reading
A reliable budget will allow you to understand how to control your expenses: the organization will spend only when you are clearly aware that these expenses can be allowed. The budget will also allow you to see information about savings to create cash reserves for the company.
One of the best ways to manage a firm’s budget is to create a cash forecast. Such forecasts will be needed to plan financing and allocation of resources between different lines of business. We’ll introduce you to the basic steps that you need to take in order to use the forecasting capabilities to the maximum. Continue reading
Saving and greed – these two concepts are often confused not only in everyday everyday situations, but also in practical activities – in all areas of industry and entrepreneurship. They very often and without any special reason replace each other. And from this a not very real picture arises in the field of development and successful promotion of any enterprise, regardless of the scale of production.
If we look at the explanatory dictionary, we immediately determine what the significant difference is. Continue reading