How to Handle Basic Business Problems
SME Toolkit offers a tutorial on Expanding and Handling Problems that includes:
Rules to Follow Before Expanding Your Business
Starting with a Pilot Operation First
Problems in Expanded Business not Present in a Start-up
- Delegation of responsibility and authority
- Monetary incentive plans
Ways to Motivate Key Employees
- Leveraged profit sharing plan
- Unleveraged profit sharing plan
- Commission plan
Do's and Don'ts of Profit Centers
- Do's
- Don'ts
- Long-range financial planning
Common Business Problems
- Uncontrolled cash flow
- Drop in sales or insufficient sales
- Higher costs
- New competition
- Business recessions
- Incompetent managers or employees
- Dishonesty, theft
- Basic rules for handling serious business problems