Guide to become a successful person

Guide to become a successful person

We all deep down somewhere dreamt of being a millionaire. However, we have dismissed that idea ourselves. Why? We have only one answer to that question “I don’t have that kind of money” But have we ever thought that there were various other factors that determined the potential of a millionaire? It’s not just money that gives a person the edge to become wealthy. There are a few, very simple everyday habits that can transform a person into a millionaire by furnishing them with confidence and inspiration

The Early bird catches the worm:

The one common trait among wealthy individuals is that they wake up early, pretty much 3 hours before they even start their daily routine. This gives them more time. Time is a very important factor because we often find people complaining about not having enough time. And the crucial part of waking up early is not just relaxing but also compartmentalizing the lives you balance, Example:, parent, employee, spouse etc

To-do list:

Now, this is not a new thing, we all have to-do lists for our day, but what makes the difference between analyzing who will make it as a successful person and who will not is that how much of that to-do list is that person able to accomplish? And once you put in an effort to complete everything in that list it leads to imminent action, which then makes it easier for you to achieve your life-time-goal!

Health is wealth:

Exercising!! Yay! Not a very endearing topic but it is a proven technique that really makes a big difference in everyone’s life. It helps you regulate blood circulation throughout your body and your brain providing it with more stability. And it is a big NO to drinking, it deters you focus and your will. Studies show that 60% of the unsuccessful population is heavy on the alcohol.

Time and tide wait for none:

Time is something that is not man-made and it seems like it is not made for the man either or so we are led to believe. However, successful people tend to schedule their day in such a way that not even a minute of their time is wasted. There is a commonly prevailing myth that has led the employers to believe that their employees work at the cost of their time. As true as this proves to be, people who are trying to be better in life or the ones that have the thirst for knowledge should never waste time even if it is at the expense of their employees.

I of all people understand how hard it is to change our old habits especially when it comes to sleep and food restriction, at the same time I assure you that these minor changes are worth the results. The above mentioned are a few ways to increase your potential and become a successful person in the future not so distant.

SHS Advisory Group wishes you success in every step ahead.

Cash Flow Management

 CASH FLOW MANAGEMENT

In every blog that I visited on this topic says "save save save". Now saving isn't as much fun as spending is it?

There are statistics that states, 60 percent of businesses that go bust are still profitable but just ran out of cash. Running out empty and still continuing so without attempting to change the methodology is just like squeezing a dry sponge over and over again for the water that isn't there.

 Few ways to effectively manage cash:

1. Acceptance and complete understanding of your working capital: It can be a small or a large scale business, evaluation of the company's current working capital is vital. It is something one has to keep on updating themselves with as it will be a forever changing factor 
2. How much do the clients owe you/ you owe the clients?: If it is a Finance or a money lending industry you have to keep such crucial factors in check.
3. Ensure your Business' investment doesn't exceed your income: Playing smart is the way to success. Make sure the investment is enough to fund your working capital needs. If not, cut your drawings, as retained profits are by far the best and cheapest source of working capital.
4. Then, plan ahead: Prepare some cash flow forecasts for the coming year. If you find it difficult to predict your sales, complete all the outgoings first, and then see what sales you need to cover your outgoings. At least then you have a known target.
5. Review your systems: Do you capture all time, costs or disbursements to invoice? When was the last time you checked suppliers costs to ensure you haven’t been overcharged or been billed for items you haven’t received?
6. Speed up your cash conversion cycle: Ask for a deposit, put customers on retainers or get them to pay monthly. Cut your inventory levels, maybe by arranging for your suppliers to deliver the same or next day, or negotiate longer payment terms. 
7. Diversion: Do not divert your cash flow towards unplanned or sudden branches.
8. Expanding: Do not expand your order abruptly without increasing your working capital.
9. Make it as easy as possible for customers to pay you: Always quote your bank account number on your invoices, and ask for direct credits or automated payments. Why wait for a cheque to be posted in this day and age?

Cash flow management is a proactive approach. It reduces a person's unwanted stress and gives the business owners a sense of peace and satisfaction to take on the platform of success.

These are some factors that I came across. If you have any new ideas I'm all ears!! 

SHS wishes you success in every step ahead.

Hi!!

HI there, Bloggers and effective readers. This is Subhashini Gunasekaran, Content writer of the SHS Advisory Group and I will be posting articles on Business, Investment Banking, Financial Crisis along with some valuable solutions. I am no expert in this field, so the contents are a compilation of the best blogs online, shortlisted and written for a better understanding of the subject. If the above-mentioned topics hold your interest, follow us for continuous posts and discussions.
SHS Advisory group wishes you success in every step.