write any two problems a business can face while setting its goal
this is a question of computer science
Answers
Answer:
took 1 hour to write hope it helps you
Explanation:
1. Cash flow management
The challenge: Cash flow is essential to small business survival, yet many entrepreneurs struggle to pay the bills (let alone themselves) while they’re waiting for checks to arrive. Part of the problem stems from delayed invoicing, which is common in the entrepreneurial world. You perform a job, send an invoice, then get paid (hopefully) 30 days later. In the meantime, you have to pay everything from your employees or contractors to your mortgage to your grocery bill. Waiting to get paid can make it difficult to get by — and when a customer doesn’t pay, you can risk everything.
The solution: Proper budgeting and planning are critical to maintaining cash flow, but even these won’t always save you from stressing over bills. One way to improve cash flow is to require a down payment for your products and services. Your down payment should cover all expenses associated with a given project or sale as well as some profit for you. By requiring a down payment, you can at least rest assured you won’t be left paying others’ bills; by padding the down payment with some profit, you can pay your own.
Another strategy for improving cash flow is to require faster invoice payments. Invoice clients within 15 days, which is half the typical invoice period. This means if a customer is late with a payment, you have two weeks to address it and get paid before the next month’s bills are due. In addition, more and more companies are requiring immediate payment upon project completion — and in our digital age when customers can pay invoices right from their mobile phones, it’s not a stretch to request immediate payment.
You can also address cash flow management from the other side of the equation by asking your own vendors to invoice you at 45, 60 or even 90 days to allow ample time for your payments to arrive and checks to clear. If you can establish a good relationship with vendors and are a good customer, they’ll be willing to work with you once you explain your strategy.
And if you’re looking for an easier way to pay bills and save money, consider sending checks via email.
2. Hiring employees
The challenge: Do you know who dreads job interviews the most? It’s not prospective candidates — it’s entrepreneurs. The hiring process can take several days of your time: reviewing resumes, sitting through interviews, sifting through so many unqualified candidates to find the diamonds in the rough. Then, you only hope you can offer an attractive package to get the best people on board and retain them.
The solution: Be exclusive. Far too many help wanted ads are incredibly vague in terms of what qualifications candidates must have, what the job duties are, what days and hours will be worked, and what wages and benefits will be paid. You can save yourself a ton of time by pre-qualifying candidates through exclusive help wanted ads that are ultra-specific in what it takes to be hired at your firm, as well as what the day-to-day work entails. Approach your employee hunt the same way you would approach a customer-centric marketing campaign: through excellent targeting.
Once you have a pool of prospects, arrange for a “walking interview” in which you take candidates on a tour of their working environments. Ask questions relevant to the job and to candidates’ experiences, expectations, dedication, and long-term goals. Don’t act like an overlord determining which minion gets to live another day; rather, behave as though you’re seeking a partner to help you operate and grow your business.
Take the time to seek real references: not the neighbor lady your candidates grew up with, but people who can honestly attest to their work ethic and potential. Once you’ve picked a candidate and before you’ve made a job offer, ask them specifically what it will take to keep them employed with you for the long haul. Tell them to be honest with their expectations. Provided they do a good job for you, you’ll know what kind of rewards they’re seeking, and you can make adjustments accordingly: Do they want more vacation? The opportunity for advancement? More pay? Freedom from micromanagement?
This isn’t to say you have to bend backwards for your employees; however, it stands to reason that if you make expectations clear for both parties you can lay the foundation for a long-term, mutually-rewarding client-boss relationship.
3. Time management
The challenge: Time management might be the biggest problem faced by entrepreneurs, who wear many (and all) hats. If you only had more time, you could accomplish so much more!
The words science and technology can and often are used interchangeably. But the goal of science is the pursuit of knowledge for its own sake while the goal of technology is to create products that solve problems and improve human life. Simply put, technology is the practical application of science.