Some of the biggest business breakthroughs occur when ideas or best practices are borrowed from one industry and applied to another completely different industry. For example, FedEx and spoke wheels lend the business model of the Federal Reserve banking system. This can also be applied to the financial industry. For example, you can borrow back Xerox strategy to help improve your personal finances.

Xerox was the dominant player in the market has copying about 86 percent of the market in 1974. By the early 1980s, Xerox found in pretty bad condition, are more susceptible to intense competition from U.S. and Japanese competitors. It ignores the new members as RICOH and Canon are consolidating their positions and gaining many transactions at the bottom of the market and in niche segments. As a result, the market share of Xerox in copiers took a nosedive, with only 17 percent of the market in 1984.

In 1982, David T. Kearns took over as CEO and began to focus on quality control. He conducts benchmarking program to combat competition and regain market share. The program encourages Xerox to find ways to reduce their production costs. Determination against Japanese competitors, Xerox learned that it is twice as long as its Japanese competitors to bring the product to market, five times the number of engineers, four times the number of design changes, and three times the design costs.

Xerox went on to become one of the best examples of successful implementation of benchmarking. As a family business owners may already be used benchmarks in their business management, very little used strategy for wealth management. For example, the benchmark can serve as an invaluable tool to determine whether you are getting an acceptable rate of return on your investment.

In terms of personal wealth management, family business owners may be a benchmark for at least 3 or 4 things, like Xerox did. The real high, owners can compare their portfolio returns on what you need to achieve their goals. Maybe that number is 5 percent, perhaps 8 percent, but there is no reason to chase additional risk and return if the target is not guaranteed. The comparison can not only provide a picture of the progress being made, but also provide the owner the opportunity to make adjustments to the target or portfolio as necessary.

At the next level, the family business owner can compare the overall portfolio returns to the appropriate underlying benchmark. One possibility is to compare the returns and volatility of a portfolio of similar portfolio of indexes. Index is a small sample of the category which represents the whole, it represents the average of the whole. A simplified hypothetical example is that if we have a portfolio of 50 percent bonds and 50 per cent shares could compare the returns and risk of the portfolio consists of 50 percent of the Lehman Bond Index total and 50 percent of the Russell 3000 index.

At the most micro level, also owners can look at the volatility and return numbers of individual investment portfolio. The performance of the underlying investment can be compared with the basic indexes, and other similar investments in the same category. In general, we would hope that investments are not just beating the indexes, but also in the top half of their class in comparison with other similar investments in some reasonable time period. Family businesses can use these comparisons as part of their decision-making process to help decide whether or not to hold a particular investment.

In wealth management, compared to the results of an appropriate index or benchmark can help family businesses make smarter choices with their money. Owners should ask their advisor to compare the results of important benchmark. Let’s be realistic, there are always going to exceed standards. But, reasonably expect to be close or better than the basic indices of long periods of time, say 3-5 years.

Instead of waiting until their personal finances as Xerox’s nosedive, not owners need to take action now, talk with their advisers, and start applying the benchmarking of their financial strategy.

La realització de xecs de la companyia de crèdit dels clients potencials i existents, ha de ser una part de la vida quotidiana de negocis però, moltes empreses segueixen deixant a obrir-se a l’amenaça del deute dolenta per no dur a terme aquests controls . La realització dels controls de crèdit a través d’informes de crèdit d’empresa en general proporcionen una puntuació de crèdit – permetent a les empreses a prendre millors decisions informades sobre si cal ampliar el crèdit. No obstant això, mentre que la realització d’aquests controls sona com a sentit comú, menys d’un terç (31%) de les empreses del Regne Unit realitzen una verificació de crèdit abans de negociar. I això sembla imperdonable si tenim en compte que gairebé la meitat (47%) de les empreses del Regne Unit han perdut diners en l’últim any quan el comerç amb una altra companyia.

Si bé aquestes xifres són impactants, ara veurem algunes de les raons per les quals examinar els informes de crèdit de l’empresa i altres eines de comprovació de crèdit és vital per assegurar l’èxit del seu negoci.

Garantir fluxos de tresoreria

Gestió de flux de caixa pobres és una de les raons principals per les empreses fracassen. L’amenaça d’aquest es pot frenar mitjançant la realització d’una verificació de crèdit en qualsevol negoci que vostè està considerant estendre el crèdit per. Això s’aplica tant als clients existents com ho fa a clients potencials, però, en l’últim any un 47% de les empreses no van realitzar cap control sobre una empresa abans d’entrar en un acord amb ells i el 84% de les empreses proporcionen productes als clients existents sense tornar al seu companyia d’informe de crèdit.

Algunes agències de qualificació de riscos inclouen ara el comportament de pagament que es veu de la rapidesa amb que les empreses paguen les seves factures dins dels informes de la companyia de crèdit permet als propietaris de negocis per planificar el seu flux de caixa amb més precisió i , finalment, la possibilitat d’ampliar crèdit en absolut.

Establiment de límits acceptables de crèdit

La majoria de les principals agències de qualificació de riscos que avui no només com una avaluació de crèdit en els seus informes de crèdit de la companyia, però un límit de crèdit. Això l’ajudarà a mesurar el nivell de crèdit que s’ha d’estendre a una empresa i proporcionar una mica de pau de la ment que la companyia serà capaç de complir els seus compromisos financers.

Entendre l’empresa

Un informe de crèdit de la companyia no només descobrirà l’empresa fraudulenta, etc adreces, però també ha de mostrar la informació de director. Aquesta informació us permetrà revisar directius anteriors, que pot proporcionar una visió saludable en la capacitat dels directors actuals per operar el negoci és una manera rendible.

Exposar a les companyies fraudulentes

És un fet trist, però en els últims anys ha hagut un augment dels comportaments fraudulents que persones sense escrúpols es fan passar per empreses reals, en un intent d’enganyar les empreses dels seus productes i serveis. El fet que el 7% de les empreses del Regne Unit han estat víctimes d’aquest tipus de frau en l’últim any destaca que aquesta activitat és, per desgràcia, cada vegada més preocupant. Dur a terme una verificació de crèdit de l’empresa podria protegir contra aquest comportament sinistre com vostè pot estar segur que l’empresa existeix realment.

Eficiència de vendes

La realització de controls de crèdit a través d’informes de crèdit d’empresa és un mitjà molt eficaç per identificar nous objectius de desenvolupament de negocis. La qualificació de la seva primers objectius per determinar si són solvents o no l’ajudarà a optimitzar els seus esforços de vendes el que li estalvia temps i diners.

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