financial literacy
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Can a Business Be Profitable if it’s Ethical?
In business I hear many stories. The ones that mainly catch my attention are those of businesses not taking, let’s say, full responsibility or following contracts as they should. Examples could go between employers not paying full salaries, suppliers not completing a job or delaying reparations, companies offering vouchers if you refer them to a…
accounting, asset, bad debt, Business Adivce, cash flow, cost control, customer service, entrepeneur, expenses, financial literacy, freelancer, goals, investments, Profit and Loss, quality management, return on investment, risk and returnaccounting, budget, business, business advice, business processes, classification, compound interest, cost control, cost reduction, debt, dividends, expenditure, expenses, finance, financial knowledge, financial literacy, gearing, interests, investment, knowledge, loan, management, management consultancy, margin of safety, operations, profit or loss, stock, value -
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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What is your excuse?
Yes, what is your excuse? Why didn’t you start that company yet? Very busy? Lack of money? Nonsense! Stop looking for excuses and get your a** moved! I’m sure you’ve heard that a lot during this time, especially on the internet, where a bunch of so called “experts” claim that if you haven’t started your…
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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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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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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…
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