Tuesday, February 16, 2010
My Business Hubs
So, getting back to this HubMob topic, I was really kind of busy during that week but as the topic was right in my alley, I really have to put my two cents in. It turned out I managed to write two hubs and here's a brief rundown of them:
The first tells about the Advantages and Disadvantages of Franchising. Franchising is a hot (and I mean HOT!) topic right now in my country. In fact, even with the current financial crisis, franchising is still a thriving business. A lot of companies managed to expand (despite the odds) through franchising. But, let's face it, franchising is not for everybody, much like starting a business is not really for everybody. In this hub, I wrote the various advantages and disadvantages of franchising. But don't take my word for it, bottomline is, if you have the stomach (and the guts) to take the risk and go into business (whether it is a franchise or not), go for it! And if you've decided to go into a franchise business (or any business for that matter), why not read my next hub?
My next hub is all about managing cash flows and why is it so important to do this. I've seen a lot of good business ideas take off only to slow down or even to go out of sight because of one thing - the business owner did not know, and was not able to, manage the cash flows well. You might get tired of hearing (or reading) this but I have to say it again - cash is the king in a business. Not profit (although I think this is the queen), not your assets, but cash. Having enough supply of cash spells the difference between a successful and failed business and a liquid and bankrupt company. And if you can't handle the cash of your business well, then you're better of closing it down and becoming an employee, where you'll receive a sure amount of money every month. And that's all I have to say.