Two important questions that every business owner MUST answer


One of the most important aspects of running a business is to have a solid grasp of the numbers.  Crunching numbers can seem daunting, but it is necessary to know important facts such as how much it costs you to produce the goods that you sell and whether your venture is profitable, or not.

1. Do you know what your operating costs are?

Operating costs are broken down into two parts; Fixed Costs & Variable costs.

Fixed costs are the payments which stay the same each month.  These costs include Rent, Depreciation, Insurance, Interest expense, Property taxes, and Office Salaries.

Variable costs are the payments that change with your sales each month. For example, sales commissions, production labor, and materials.

Once you’ve determined your operating costs, take the opportunity to assess the necessity of each cost or if there are ways to reduce them by seeking out new vendors or requesting bulk purchase discounts.

2. Do you know how much your company earns every month?

To run a business effectively, you need to know how much your company earns every month. This is done by subtracting your operating costs from your top line revenues.  Revenues are made up of accrued sales or cash receipts.

Where do you find the time for all this in your already busy schedule?  The OCI Group is here to help you with the tasks that you don’t have time or staff to deal with.

We can also help you to identify ways that your company can save money and increase its potential for growth.  Click here to find out more about how we can save you from a financial headache.

Time management tips: 3 top strategies to recharge and transform your time

time management

There are many books, blogs and articles out there telling you how to manage your time to make you more productive.  We are going to save you time and break it down into 3 simple tips that when put into practice will add the additional hours you need a day.

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Tips for workplace motivation


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5 Tips on managing deadlines


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Would You Like to Increase Your Productivity at work? Here’s How!


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Why Is It So Important to Deal with Stress?


There are two kinds of stress in the world – the good and the bad.  When you let the bad kind of stress take over, you put yourself at risk of developing a range of illnesses which include anything from the common cold to severe heart disease.

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Tips to get the best out of your staff


If you are a business owner, you know that an important part of the business is the people who work there.  If they are not happy, your business will not succeed in the way it could.  Here are a few things we think will help you run your office smoothly.

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Broken telephone can slow down your company’s growth

company growth

Do you recall playing broken telephone as a child? The teacher would start by whispering a sentence to someone, and we would go around the room repeating the sentence to our neighbor. The last person would say out loud what they heard, and then we would compare to the sentence that the teacher started with. More often than not, the sentence at the end wasn’t even close to what the teacher started with.

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What you need to include in your budget


When you are planning for your business’s future, many people forget to make a plan for funds. Budgeting has been proven to be the most effective way for you to control your cash, which allows you to invest, spend and grow your business.

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