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Showing posts from October, 2018

Top 7 Things you MUST do When Selecting a Vendor

There are several reasons a business might be selecting a vendor, and the 2 most common are: To replace an existing, failing or outdated  To fill a need for new materials or services Both of these reasons, and any others, should follow the same process for selecting a vendor.  There are 7 things you must do to select the right vendor: We need to define the problem to solve Create scenarios that must be tested  Test the scenarios against new vendor Define a time line for selecting the new vendor Define a budget for the materials/services provided by the vendor Get feedback from your employees on the vendor shortlist Check the vendor's social media and market ratings Since scenarios are one of the major components to selecting a new vendor, we will discuss them a bit more.  The scenarios should include all of the important issues that you are currently experiencing.  An example of problems to solve might look something like this: Need Service on demand (24/7 serv

How to Make a Financial Business Plan

You decided to start your own business.  This is definitely an exciting decision, but it is also a scary one.  Several questions come to mind:  How will I get more customers?  What will I do about health insurance?  What if I need to hire employees, how will I pay them?  These are very good questions, and possibly the most important one is "How much do I need to make to keep my business going?" You're going to find a lot of answers to this question out there, but one of the best ones I have found has to do with a daily budget and goals.  This probably the most important way for a small, just starting business to grow and stick around.  It might be easy to say at this point - "I know how to do a daily budget...".  But let't consider it together anyways, I might have missed something in this article, or I might give you an idea you didn't think about. Where to start? First we need to consider the goal of your business.  Is it just to get rich?  Is it