Nic's blog...
October 08,2011
According to Nic Clark, entrepreneur and supplier of business improvement tools via 10X business coaches, there are six key areas for cash flow (cashflow) improvement:
1: Increasing Prices;
2: Reducing Cost Of Goods;
3: Reducing Overheads;
4: Reducing Stock Holding (Inventory);
5: Collect Debtors (Accounts Receivable); and
6: Slow Creditors (Accounts Payable).
Nic Clark points out that three of these six key areas are unofficial bank accounts and need to be treated and maintained with a high degree of importance like any other bank account:
1: Stock;
2: Accounts Receivable; and
3: Accounts Payable.
Two of these unofficial bank accounts need to be kept with a very low balance while the other needs to be within......
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October 08,2011
10X is looking to expand into Canada and will partner with the right person and / or group.
The 10X business operation in Australia & New Zealand has generated more than $16m in upfront franchise fees with a remaining $18m in territory fees yet to be sold.
Canada has a up-font territory value of more than $36m with an ongoing annual royalty estimated to be $6m per annum.
The strategy to date has been to offer the 10X franchise (business coaching and consulting tools) directly to accounting firms.
......
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September 28,2011
This month we’ve talked about innovation and how to encourage your staff to come up with ideas, but there’s one sure-fire way to guarantee your best laid plans and efforts fail – and that’s being too aloof or removed from your staff. I’m talking about the way you relate to them. After all, you are a team. You may be the owner but you are also working in the business – the same business that you staff is working in. You want them to like you. Not take you as being snooty, arrogant, phony, or a cold fish. Well are you? If want to stimulate your employees and get your......
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September 20,2011
Ever had an employee come to you and say they need motivation? I liken it to a child who whines, “Dad, I’m bored.” If you’re a successful entrepreneur the chances of you being bored for more than a minute with anything – are slim at best. But unfortunately most employees still need some form of motivation. I guess when you consider that they don’t own the company and do not have the same level of vision and hope that you have for it, we can begin to get their drift.
Take a look at your employees, whilst I don’t believe in pigeon-holing, it can......
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10X is looking to expand into Canada and will partner with the right person and / or group.
The 10X business operation in Australia & New Zealand has generated more than $16m in upfront franchise fees with a remaining $18m in territory fees yet to be sold.
Canada has a up-font territory value of more than $36m with an ongoing annual royalty estimated to be $6m per annum.
The strategy to date has been to offer the 10X franchise (business coaching and consulting tools) directly to accounting firms.
......
This month we’ve talked about innovation and how to encourage your staff to come up with ideas, but there’s one sure-fire way to guarantee your best laid plans and efforts fail – and that’s being too aloof or removed from your staff. I’m talking about the way you relate to them. After all, you are a team. You may be the owner but you are also working in the business – the same business that you staff is working in. You want them to like you. Not take you as being snooty, arrogant, phony, or a cold fish. Well are you? If want to stimulate your employees and get your......
