Small businesses always operate on small budgets which require a tight rein on costs. Tough economic conditions, recessions and slumps always have the worst impact on small businesses, survival is possible only by adopting cost control methods.

Small business owners today have the advantage of having access to a host of internet based services that come free or at minimal expenses and help them save on administration costs especially those related to IT. Cloud based services are a typical example of what small businesses have at their disposal.

There are a number of basic skills that managers need to master if they are to become competent and proficient in directing the resources under their control. Whilst elementary to some, others may need coaching or training to help develop basic skills that may exist in the newly promoted manager.

First is the ability to manage oneself because if you cannot accomplish that feat, how can you possibly manage others effectively? This requires a degree of objectivity on your part and solid dependable feedback from others you trust in order to get a fair picture of your strengths and weaknesses. All too often managers fail to take time to analyze their own competencies and effectiveness yet expect respect from others that they lead or work with.

It is not just consumers who are feeling the pinch through the recession. Businesses are having to cut their costs to match the reduced revenue and survive through tough times.

But what can be done to save money?

Exxon-An Example Of Success

Exxon Mobil, is one of America’s biggest oil companies and has just reported yesterday a huge fifty-three percent profit increase in 2010’s fourth-quarter.  This is due to the world’s slowly recovering economy and the increase in crude oil prices per barrel.  This was their best reported profit in over 2 years.  This shows the trend of the oil market since 2007 when it was up, then crashed in 2009 before making its way back up by the end of last year.   This is not uncommon results in the oil industry as this profit margin can be seen all across the board in other refinery businesses.  

More than half a million persons joined Verizon Communications Inc. as subscribers in the last quarter, which indicates the company's robustness even before the launch of the iPhone scheduled for February.

Analysts had expected to enroll 650,000 subscribers but the actual numbers were about 872,000 for the contract based plans. These plans based on contracts are the most lucrative for the company, and Verizon has confirmed that 75 percent of these subscribers went in for smart phones that have added fees for data.

CONSIDER this: Your financial problems are a result of bugs in the way your brain’s operating system works. If you identify the problems, you can issue a patch which will fix the bugs.

Sounds simple, right? So why, when humans will always have a better capacity for learning than machines, are the problems encountered by machines more easily fixed than the ones we are faced with?

For example, in the modern Omni-connected-world where patches can be downloaded to rectify problems with your iPod or your laptop’s operating system, a manufacturer will identify a problem from user feedback, create a patch and allow users to download the fix.

Hey presto – the problem is fixed!

Perhaps if we thought of our shortcomings in terms of ‘bugs’ in a piece of software, we might be more logical about overcoming them.

So, in that spirit, here’s how to upgrade your ‘financial firmware’ to version 2.0, and eliminate those pesky bugs in version 1.0!

If you’re looking to finance a green business, there are a variety of options available. Of course many of these options depend on the size, scope, and type of business you are starting. But green businesses are in right now, and investors could be chomping at the bit to get a bite of your venture. Here are a few ways you can finance your operation and take advantage of the eco-friendly craze.

Cummins Inc (CMI) head-quartered in Columbus Indiana is a manufacturer and servicer provider for diesel and natural gas powered engines. The stock of the company is currently valuing the corporation at $21.86 billion. And the company pays 1.05 a share in dividends to stock holders, yielding near 0.90%.

Top ETFs during the past Month

Tracking the top ETFs for the past month is a good way to discover hot sectors and to find funds to invest in for the next month’s period. Past performance doesn’t guarantee future performance as we all know. But if the underlining technical trend hasn’t ended and the fundamental reason for the sector’s appreciation, then investing in that ETF or related sector stocks can be profitable.

How Spread Betting Differs From Trading

There are some major differences between spread betting and trading, primarily in leverage, taxes, liquidity, transaction fees and dated contracts. By recognizing these differences you can become a more informed and therefore better prepared trader, able to limit losses and maximize gains.