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

 

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