Whether you joined your company for the additional income, the fun and products, or the tax benefits, taking the following steps will enable you to get control of your business finances for higher profits and greater peace of mind.
Control your spending. Write down in advance what you will need for your business in the coming month. First, focus on business essentials such as catalogs and show supplies. Then be conservative for additional expenditures like buying equipment for your office or supplies for organizing.
Be creative. Necessity is the mother of invention. Find ways to reduce unnecessary expenses by thinking creatively. Invite a prospect to your home for dessert and coffee rather than taking her to lunch at a restaurant. Make long distance calls to customers and hostesses on your cell phone if your plan includes free long distance minutes. Find new ways to save!
Get Organized. Disorganization not only costs you time; it costs you money as well! Avoid wasting money on too many copies or duplicating forms by organizing your files. In addition, have a place in your wallet and a file in your desk where you place receipts for business expenses....
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