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Mike Smith

Knowledge Seeker
Ask Mike Smith
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231 Questions
Home» Mike Smith»Answers
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  1. Asked: August 19, 2023In: Money & Business

    Alternatives in funding a business?

    Mike Smith
    Mike Smith Knowledge Seeker
    Added an answer on August 24, 2023 at 12:44 pm

    Establishing a business is no doubt a good idea for an individual to earn a living however one of the most paramount place an individual should seek funds in order to establish a business is basically from his or her personal savings. But in most cases individuals may not have reasonable amount of mRead more

    Establishing a business is no doubt a good idea for an individual to earn a living however one of the most paramount place an individual should seek funds in order to establish a business is basically from his or her personal savings. But in most cases individuals may not have reasonable amount of money in their savings account that is good enough or sufficient enough to establish the business they have in mind, in such situation they might choose to consider alternatives such as borrowing loans from banks or financial institution or from private loan issuers, they might also seek for funds from their relatives friends and colleagues, they might also discuss the business idea with potential investors who are ready to offer them but but at a profit. All these are alternative to seeking for business funds, moreover an individual should understand that for him or her to be successful in each of these alternatives, his or her business idea must be a good and remarkable one that is enough to spark the interest of others to come to your financial aid.

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  2. Asked: August 19, 2023In: Money & Business

    How much is enough for a business start-up?

    Mike Smith
    Mike Smith Knowledge Seeker
    Added an answer on August 24, 2023 at 12:40 pm

    Starting a business is a good idea to earn a living however most individuals who usually has the potential as well as their thinking of establishing a business usually ask themselves the question above, there is absolutely no exact or Roundup number and individual must have in order to establish a bRead more

    Starting a business is a good idea to earn a living however most individuals who usually has the potential as well as their thinking of establishing a business usually ask themselves the question above, there is absolutely no exact or Roundup number and individual must have in order to establish a business, the reason is because businesses with us in terms of size scale and even what the business sells or renders. To be more clarified, an individual who want to establish a wholesale business will need more capital than an individual establishing or owning a retail business. In order to come up with a good figure as your capital in order to go ahead in starting up your business you must consider the ups and downs in establishing such business, you must also carry out analysis such as the cost analysis as to how much money will be the opening stock if the business is a buying and selling kind.

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  3. Asked: August 19, 2023In: Money & Business

    Skyrocketing your potentials of being issued a loan

    Mike Smith
    Mike Smith Knowledge Seeker
    Added an answer on August 24, 2023 at 12:38 pm

    Having the need for a loan is a normal activity especially for business owners and private individuals who in one way or the other are short of funds, however in order to get these forms they need to apply to other financial institutions or to private loan issuers. Private loan issuance and financiaRead more

    Having the need for a loan is a normal activity especially for business owners and private individuals who in one way or the other are short of funds, however in order to get these forms they need to apply to other financial institutions or to private loan issuers. Private loan issuance and financial institutions these days, are becoming very wise enough so as not to give their funds to individuals not deserving of it. Moreover, you as the loan seeker must make sure to improve your potential of been issued the loan, and to find the favour of these individuals who are ready to offer you a loan. One of the most simplest ways of improving your potential is by making sure to have a good credit history or record, also you must not be a present debtor anybody, most importantly the reason why you need the loan must be a sounding and truthful one.

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  4. Asked: August 19, 2023In: Money & Business

    What should bus. owners know about accounting and bookkeeping.

    Mike Smith
    Mike Smith Knowledge Seeker
    Added an answer on August 24, 2023 at 12:34 pm

    Business owners and business managers should definitely understand that the financial activity of bookkeeping and accounting and totally inevitable when it comes to growing or developing a business to success and prosperity. Business owners and business managers should make sure to put incredible anRead more

    Business owners and business managers should definitely understand that the financial activity of bookkeeping and accounting and totally inevitable when it comes to growing or developing a business to success and prosperity. Business owners and business managers should make sure to put incredible and qualified personnel in the bookkeeping and accounting sectors of the business organisation, business managers and business owners should make sure that personnel in this sector of their business are trustworthy and very much sincere, because any false information in the bookkeeping and accounting sector of a particular business organisation can affect the growth and development capacity and capability of such business.

    For example, if the individuals entitled to manage and oversee the bookkeeping and accounting sector are particular business organisation and are constantly or frequently extorting funds from a business treasure chest, such business might suffer the consequences in the form of insufficient generated cashflow or possibly in the form of cash flow stagnation.

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  5. Asked: August 19, 2023In: Money & Business

    When business profit isn't coming as expected or planned!

    Mike Smith
    Mike Smith Knowledge Seeker
    Added an answer on August 24, 2023 at 12:30 pm

    Whether an individual is establishing or running a large or small-scale business, is highly expected as such business should make profit. That we cannot neglect the fact that the majority of businesses in which various business managers and entrepreneurs have established and not making profits as exRead more

    Whether an individual is establishing or running a large or small-scale business, is highly expected as such business should make profit. That we cannot neglect the fact that the majority of businesses in which various business managers and entrepreneurs have established and not making profits as expected and as planned, this is basically due to the fact of regulating an important factor that can add up to the business ability to grow and develop. Basically some of this factor could be the business location, business management process, and possibly the business ability to sell and to render Right quality goods and services. When profit is not coming as expected and explain in a business organisation, the business managers or the business owner must cross check these above factors about his or her business.

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  6. Asked: August 19, 2023In: Money & Business

    How can I set up the right environment for my business location?

    Mike Smith
    Mike Smith Knowledge Seeker
    Added an answer on August 24, 2023 at 12:27 pm

    Business environment definitely add to the fact that the business can grow and succeed, however business owners and business managers should never in any way joke about their business environment. Before an individual establishes a business and individual must first of all look for the right and creRead more

    Business environment definitely add to the fact that the business can grow and succeed, however business owners and business managers should never in any way joke about their business environment. Before an individual establishes a business and individual must first of all look for the right and credible environments that will suit his or her business establishment. Some of the factors that an individual must look for when trying to establish a business in a good environment should be the environment crime rate and also the population in the environment, they are basically other factors but this to above at the most major ones.

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  7. Asked: August 19, 2023In: Money & Business

    Stabilizing business cash flow?

    Mike Smith
    Mike Smith Knowledge Seeker
    Added an answer on August 24, 2023 at 12:25 pm

    One of the most important and credible goal and objective in which every business must have is basically to be able to stabilize its cash flow, what we must understand about business cash flow is that it is always necessary for the business managers and personnel is handling the business finance toRead more

    One of the most important and credible goal and objective in which every business must have is basically to be able to stabilize its cash flow, what we must understand about business cash flow is that it is always necessary for the business managers and personnel is handling the business finance to be able to reduce all expenses and expenditure and therefore improve on all activities that generate profit and output. That could be done by carefully plan the business day-to-day activities and in the business is basically a manufacturing or producing kind of business, property work can definitely cut down cost and avoid wastage of materials used for the production of goods and services.

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  8. Asked: August 19, 2023In: Money & Business

    Marketing__what is it all about?

    Mike Smith
    Mike Smith Knowledge Seeker
    Added an answer on August 24, 2023 at 12:24 pm

    Marketing covers a whole lot of activity apart from the actual buying and selling of goods and services and according to research and study marketing also covers the actual manufacturing and production of goods and services and other aspects of the products including how the product is being advertiRead more

    Marketing covers a whole lot of activity apart from the actual buying and selling of goods and services and according to research and study marketing also covers the actual manufacturing and production of goods and services and other aspects of the products including how the product is being advertised and promoted and also for the sub categories in which products usually fall under. Marketing also covers the welfare of how a product is being transported distributed labelled branded packaged and also distributed till it reaches the final consumer.

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  9. Asked: August 19, 2023In: Money & Business

    Finding the right market for your business goals and services?

    Mike Smith
    Mike Smith Knowledge Seeker
    Added an answer on August 24, 2023 at 12:17 pm

    Feasibility studies and research has it that a business organisation can only grow and develop only when such business is being closer to it's required market. When an individual is intending to establish a business he or she must definitely put into proper consideration the environment in which heRead more

    Feasibility studies and research has it that a business organisation can only grow and develop only when such business is being closer to it’s required market. When an individual is intending to establish a business he or she must definitely put into proper consideration the environment in which he or she must locate such business. For example if an individual want to establish a water bottling company, the first Factor to consider is the environment, and imagine if such individual establishes the water bottling company in an environment where individuals are not used to the drinking of water but rather get their water from streams and lakes and after passing its purification process they believe that the water is safe for usage like cooking and drinking. Such business idea will not function in such area and the business itself will go bankrupt or liquidated. So in this scenario we can see why business market are a necessary consideration

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  10. Asked: August 20, 2023In: Money & Business

    Why is the location of a business an important Factor?

    Mike Smith
    Mike Smith Knowledge Seeker
    Added an answer on August 24, 2023 at 12:14 pm

    Offline businesses can become successful and very much prosperous only if it is been located or situated in an area that brings its recognition and popularity from the members of the public. It is highly necessary that an individual seeking to establish an offline business must put into proper consiRead more

    Offline businesses can become successful and very much prosperous only if it is been located or situated in an area that brings its recognition and popularity from the members of the public. It is highly necessary that an individual seeking to establish an offline business must put into proper consideration the area which is going to be the location in which such business will be situated. A business must succeed only when it is close to it’s required market, however situating a business in an area where it is far from it required market can make some business to become bankrupt or very much broke.

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