business
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Pay Right and in Time, but Don’t Pay Twice
Imagine that you run a department like Accounts Payable. You hire more or less the right number of people. They focus on processing invoices. You pay suppliers more or less in time. From time to time minor issues occur, but your suppliers are happy in general. Time later, the company, like any other business, goes…
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Who does what? Why businesses need well-defined processes
You’re driving in a city. There are traffic lights, signs or all sorts. You know you have to stop when lights are red, continue when they are green. You know that if a standing sign is missing, you’ll have to look at the paintings on the ground. In contrast, if two signals contradict each other,…
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This time of the Year
Reaching the end of 2024. Many organisations take the time, if they haven’t already, to look at what went and not so well, appraising the performance of the company according to the goals they set to meet during the year, and review if changes need to be done, like removing objectives that no are no…
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Changing Card Numbers
Changing Card Numbers Some time ago I went on holidays with my partner to a mediterranean island. To see around and have more freedom, we rented a car. We went to the beach, a small city and the top of a small mountain where there was a lighthouse and a magnificent view of the ocean.…
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A matter of Luck or Risk
Often, we see businesses succeed or fail. Same with people and their careers. If they succeed, we see them as brilliant, gifted or even smarter than regular people. In contrast, when they fail, we see them as the opposite. Of course, we know that there are some variables that play a significant role in the…
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Where should I look at?
Another concern when running a business is how to track and measure your progress. If you have been investigating, probably you have seen all sorts of metrics: customer complaints, revenue, market share, reviews on social media… Anything that can be measured can become a metric. However, what are the right ones? This is often a…
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The Concept of Value
I have a friend who works as an electrician. Once he was called to fix a switch that wasn’t working. He looked at it, and in less than five minutes he fixed it. After that, he charged him for his services. His customer pointed how come he had to pay that much for a job…
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What is Wealth?
The answer to this questions might seem a little abstract. Usually, when we think about wealth, things like money, properties and other sort of assets come to our minds. However, the definition of wealth is much broader than that. Some books refer to it as the time that you would be able to live in…
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Margin of Safety
One of the difficulties when starting a business is predicting the volume of sales and costs in the future. You don’t need to be a genius to guess that it’s impossible to know exactly what is going to happen, either if your product will be a complete success or that a competitor will launch another…
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Revenues and Costs, Some Aspects
I’ve been living abroad for a while, as many people are doing these days. A common topic of discussion among expats is the salary you can earn in a certain country. It is funny to see people who move to countries like the United Kingdom, the Netherlands or Germany to find not only opportunities but…
Ruiz Fernandez Business Services 