Key Concepts, Small Business Owner (02:18)
This program explores ways to improve business performance by boosting profits and by making better use of invested capital. Jane Murray discusses her experiences as owner of the Tulip Tree restaurant, which include having difficulty keeping up with her expenses.
Regaining Control (02:45)
Murray’s first step is to create profit and loss accounts for her business. She reduces food waste, negotiates with suppliers, and cuts wages by 20 percent. Murray also grows her business by adding catering services.
New Startup (04:39)
Forecasting profit and loss accounts is crucial to an aspiring entrepreneur’s business plan. Once the business is up and running, owners should check how they are doing against their written plan. Infoconomy publishes magazines and runs a financial web site.
Profits vs. Cash (06:20)
Monitoring cash flow is essential for any business. Businesses need profit to grow and develop, and cash to pay for supplies; running out of cash is the top reason for failure. One entrepreneur explains how he overcame adversity.
How Much Profit is Enough? (06:21)
A business’s return on capital is determined by dividing profits by capital invested. To improve it, entrepreneurs can increase profits or better control assets tied up in the business. Insiders at Lilliput Lane explain how the company escaped liquidation.
Using Fixed Assets More Effectively (05:14)
Managers at Stoves aim to have zero leftover stock and raw material. They implement changes that reduce work in progress, lowering the amount of working capital necessary.
Credits: Working for Yourself: Finance Basics (01:01)
Credits: Working for Yourself: Finance Basics
For additional digital leasing and purchase options contact a media consultant at 800-257-5126
(press option 3) or firstname.lastname@example.org.