By Souvik Choudhury

What startups need:  A to-do list 

I was wondering lately, over an hour; but only to my thoughtless spending. What makes a few startups stand out from the crowd even being in the same genre. People would arguably be content to saying and settling for notions such as they were lucky to have found an investor or having their godfather in the business and many more. How fair is it to dismantle your competitor’s ethics in a speck of imperfection? There are exceptions and exceptions are going to remain. But most importantly, it’s the smallest of things that you do that counts for a larger goal. Simply demeaning other’s without considering their struggle is a common mistake that we make.

Continue reading What startups need:  A to-do list 

SlickAccount: A simple online accounting & profitability software for your small business
Hundreds of small businesses from India, Austrailia, Philipines, USA, UK are using everyday.
Obtain a 14day free trial.
By sanmaya

How to be a high performing employee and entrepreneur

NB: Read if you are a Student or Entrepreneur or Professional in a company.

For a very long time I have been thinking and practicing about how to improve people’s ability to be successful and in a way learning. It has always occurred to me why when a good tool or process is given to a good candidate result in higher output, but even better tools and processes fail for bad candidates.

The primary thing we all know is interest. But once that’s achieved you still suffer from bad output. Then I come across is intensity of interest. Then the motivation and gain of the intensity of interest. But still it was hard.

Then recently I concluded, everyone is missing some core things that they need to know to leverage and intensify their speed towards becoming the better self. The followings are key essential human characteristics that need to be correctly identified and practiced:

1. Motivation
2. Problem solving 101
3. Responsibility, Objective clarity and ownership
4. Science and engineering of successful networking and practice to leverage daily.
5. Effective Googling (Or, you can say effective way of asking question and finding answers)[because if you can’t google correctly you get garbage :P ]
6. Emotional intelligence (a basic average here is still good)

Each of these points have many broad steps if practiced will work really fast in your favor.

I think these foundations and principles of getting successful should be taught to entrepreneurs, professionals, students and even normal people in their curricula. Even Superman had Kryptonite :) These are actually not difficult and can be taught and practiced easily.

So I have started sessions for our employees weekly. In future I’ll conduct this in colleges we normally get interns and hires from. We hope we can get people who already practiced and acquainted in these processes.

We’ll continuously post things on our blog and what we discussed here each week. Please do subscribe to our blog to get the email notifications when we post new things. You can find the subscription form here: http://eepurl.com/b0-UQL

 

SlickAccount: A simple online accounting & profitability software for your small business
Hundreds of small businesses from India, Austrailia, Philipines, USA, UK are using everyday.
Obtain a 14day free trial.
By sanmaya

Saved search and complex budgeting : new feature

Screenshot from 2015-11-21 12:43:44

So last week we introduced a cool new feature called saved searches and we introduced a budgeting of such. With this tool you can save the search that you frequently do and a bit frustrated to filter the Cash summery every time.

Screenshot from 2015-11-21 12:42:15

As shown in the picture. Once you searched something in the cash summery, click on the star icon to save that search. You can keep the dates boundary for your search or keep it open for adjusting to any date.

Plus you can mention the budgets you want to create. You can do budgeting for either income or expense for now.

This kind of budgeting would help you in budgeting expenses for a particular project or for a particular  employee or activity that you tagged.

Screenshot from 2015-11-21 12:43:05

We’ll soon publish a video explaining what more and effective you can do with this tool. Till then ponder over your own ideas and create fabulous saved searches and budgets for them. And do let us know how it helped you.

Try it. See ya.

SlickAccount: A simple online accounting & profitability software for your small business
Hundreds of small businesses from India, Austrailia, Philipines, USA, UK are using everyday.
Obtain a 14day free trial.
By sanmaya

Don’t plan your organisational growth before reading this

Companies with high employee retention issues are hard to succeed. As we are digging deeper into analytics we are becoming closer to have good maths on these points.
 
How much of new employees your existing organisation can handle and what’ll be it’s average and worst financial conditions.
 
We advice companies with high employee cost to revenue ratio, to keep an close eye on that ratio. If at any point that ratio is exceeding 0.4 points in any directions, your organisation will have trouble handling it.
 
So we’ld advice, have a process in place. And a good training program for new employees at the services that is giving you higher sales volume and higher profit. And keep an close eye on it. And keep ramping up sales here. But understand that ratio.
 
Grow up team in new services slowly. And so the sales.
 
Organisational turbulence is one metrics that takes most companies go down. But it’s hard to see early on. Often the problem arises after 5-6 months. And make it difficult to handle, even if you are highly profitable.
 
Growth kills more businesses at faster rate, and stability kills businesses at a slower rate. So keep growing, but understand stability keeps you liquid.
 
So before you keep growth on trajectory, ensure fund of at least 3 times that of CIH needed, hence a profit index of 200-300%.
 
If you are planning speeder growth and you are just 100% in profit index. Takes external investment of another 2times of CIH needed, suggested in Periodic Profitability Graph, within one month of beginning the growth implementation. And if in any moment during high growth, your profit index reaches 120% or below, ramp sales up and you need to keep that number there to not fall out pray of downward spiral.
 
For high growth, I mean to say at par or above 20% of your present organization head count.
 
Hope that helps.
SlickAccount: A simple online accounting & profitability software for your small business
Hundreds of small businesses from India, Austrailia, Philipines, USA, UK are using everyday.
Obtain a 14day free trial.
By sanmaya

Straightening the revenue curve

Once you’ve achieving recommended CIH, for couple of months and continuous good sales for 6-8 months, your next job as a business owner should be about straightening the revenue curve.

Might be now your revenue graph seems like this:

download (15)
What you want to make it is like this:

download (9)

Look we are not growing our revenues like anything, but we are ensuring our revenues curve straightens towards top. This ensures we can at least have this many revenue at any given month. It removes the basic fear of decision making if you don’t know if your next month sales will plummet. This also can help you in planning your hiring, fund planning, stock planning etc. This makes you now a serious businessman.

Now if we study the current graph of yours it might be a result of the issue of sales or product delivery. But now an effective CEO needs to ensure his curves are straightened on top of which he can make baseline decisions as we just discussed above.

Now let’s see the few steps necessary to make it happen:

  1. Ensure your sales guys are motivated continuously, well trained, and perfectly compensated.
  2. Ensure your delivery people have tools to make work faster.
  3. Ensure you created and operational structure & efficiency into the system.
  4. Ensure you align your company according to a profitable market segment.
  5. Now push the sales & hire if necessary.

And now ensure minimum target is set and make sure your organisation achieve it each month or quarter. Hope it helps :)

Ask us if you need any help doing these planning inside SlickAccount.

SlickAccount: A simple online accounting & profitability software for your small business
Hundreds of small businesses from India, Austrailia, Philipines, USA, UK are using everyday.
Obtain a 14day free trial.
By sanmaya

Are you selling it right?

I’m not a good marketer. Neither a good sales person. ( my mom warned me not to use businessman and salesman in my words, so I’m writing sales person :P ) But when I’m in sales mood my conversion rates in sales go real higher. So here is a little secrete that can improve your sales much higher, as high as 20-35%. Continue reading Are you selling it right?

SlickAccount: A simple online accounting & profitability software for your small business
Hundreds of small businesses from India, Austrailia, Philipines, USA, UK are using everyday.
Obtain a 14day free trial.
By sanmaya

Investing on training & education of your team

Training and education are important part of a healthy organization. You need to help employees improve their skills. Also you need to take business coaching continuously. That way you always remain more knowledgeable, advanced and well functioning organization.  Continue reading Investing on training & education of your team

SlickAccount: A simple online accounting & profitability software for your small business
Hundreds of small businesses from India, Austrailia, Philipines, USA, UK are using everyday.
Obtain a 14day free trial.
By sanmaya

Small business website best practices

At 8i Creations we were helping businesses and design firms to bring more conversions/orders/inquiries from their websites. Here’s what I’ll sum up as the best practices. (Please don’t inquire 8i creations, we are no more accepting projects)  Continue reading Small business website best practices

SlickAccount: A simple online accounting & profitability software for your small business
Hundreds of small businesses from India, Austrailia, Philipines, USA, UK are using everyday.
Obtain a 14day free trial.
By sanmaya

Do you know how your customers are different?

Customers are different even though they purchase the same products or services from you. They all require different treatment, isn’t it? And you are responsible for building an organization that can better serve the kind of customers that gives you more value.  Continue reading Do you know how your customers are different?

SlickAccount: A simple online accounting & profitability software for your small business
Hundreds of small businesses from India, Austrailia, Philipines, USA, UK are using everyday.
Obtain a 14day free trial.