|Key takeaways in the session Profits & Cash - The Life Blood of Business|
Business Seminar : `Profits and Cash - The Life Blood of Business` was organized by Young Entrepreneur School,
Sivakasi on 16-07-2019 at Bell Hotel, Sivakasi, from 4:00 pm to 9:00 pm. The business session was handled by Mr. CA.S.Srikanth, Corporate Trainer & Leadership Coach, Chennai. Around 80 business people from Sivakasi, Virudhunagar, Rajapalayam, Sattur participated in this programme.
Members key takeaways in the session Profits & Cash - The Life Blood of Business are as follows:
1. Know the profit in your business and identify where the profit is - Stock / Sundry Debtors / Cash.
2. Liabilities are also called Source of Funds. Assets are also called Application of Funds.
3. Current Assets - The Assets that can be converted into cash within a Business Cycle (365 Days).
4. Our Working Capital Loan should be 20% of Turnover, which will help us score better with banks. If it is more than that Banks will charge higher interest rates.
5. Capital includes both Equity (Own Funds) and Debt (Loans from Bank).
6. Sales team should be given incentives on the basis of Collections done and not according to the sales executed. Only then the sale would be complete.
7. Tax Neutralization is a way to save tax.
8. Profit Machine - How a Business is a machine and how the money put in churns out as Profit.