Amir Zuker is Owner and CEO of IGENT Israel Technologies Ltd. Zuker is a business consultant, CFO and mentor. He founded IGENT three years ago. The name represents the added value he gives his clients — innovation, growth, excellence, new technologies. The company specializes in improving business processes within the organization, assisting with best use of the information systems to improve efficiency of the processes, thus improving the bottom line of the financial results of the business. They bring finance experience from CFO positions, strategic and marketing knowledge and experience, and combine it with strong IT and familiarity with various systems, ERP, CRM, BPM, treasury and accounting to name a few.
Zuker has broad experience in all aspects of financial and business management as well as IT projects and various software packages. As a certified public accountant, he also has extensive experience in accounting and due diligence.
Zuker was CFO for nine years, three roles in three different groups, until December 2005, when he realized he wanted to meet and help more businesses and start his own consulting business. He shares his business expertise and experience with small business owners.
(Photo courtesy of Amir Zuker)
What are the top five things small businesses can do to be successful in the marketplace?
- Cash flow, cash flow, cash flow. No matter how balanced is your budget, or how high your margin, if you don’t plan and follow your cash flow, your business will be dead. Cash flow is the blood running your business. You can’t be short on it. I’ve seen businesses with high volume sales that are struggling to collect these sales. Meanwhile, they need to pay salaries, rent, utilities etc. Be sure to know when are you collecting and match your payments to suppliers accordingly. If you know of a problem, make sure your bank is not surprised, as you may need its help.
- Prepare Budget. You have to know where you’re going if you want to get there. Once you know where your destination is, you can translate the plan to financial estimations of income and expenses. You can use a template, there are dozens of them online, or you can create your own. Prepare it monthly.
- Review Pricing. Re-run your pricing calculations. Check that your items/services are not overpriced or under-priced.
- Save Costs. It’s always a good tip to try and save costs, but first you have to know all the expenses and suppliers’ agreements. The trick is to check not only the expense itself , but it’s weight verses other expenses. Focus on the heavyweight items.
- Don’t be afraid of IT. IT can be your friend, if you want it. There are solutions that can make your business life much more easy, comfortable, etc. IT can help you maintain relationships with your clients, know more about them and sell them more of what they need.
This article was written by Michelle Guilbeau of Examiner.com for CBS Small Business Pulse.