1. Growing your businessManaging Cost, Funding, Customer Satisfaction Razvoj poslovanja, upravljanje trokovima, financiranje, zadovoljenje potreba muterija (c) Copyright Expressive Business Strategies 2007-2010 1

2. Financial Management/ Financijsko upravljanje Decide rules /Donesite pravila What are your revenue sources? /Koji su vai izvori prihoda? Koji su trokovi vae proizvodnje? What are your expenditures? / to su vai trokovi? What are legitimate business expenses? /to su opravdani trokovi poslovanja? (c) Copyright Expressive Business Strategies 2010 - 2012

3. Raunovodstvo Keeping the books /Voenje poslovnih knjiga Bank account /bankovni raun Handling money /koritenje novca Availability of money (demand accounts vs saving) /dostupnost novca (rauni za potronju ili tednja) Writing down (registering) income /upisivanje (biljeenje) prihoda Collecting Money /sakupljanje novca Depositing money into bank account /polaganje novca na bankovni raun Writing down (registering) expenses /upisivanje (biljeenje) trokova Payment Terms /uvjeti plaanja Paying expenses /plaanje trokova (c) Copyright Expressive Business Strategies 2010 - 2012

4. Financial Reporting Income statement Determines profitability Determines amount of taxes to pay Balance sheet Assets, Liabilities and Equity Cash Flow Understand difference between cash and profitability. (c) Copyright Expressive Business Strategies 2010 - 2012

5. Primjer tablice prihoda (c) Copyright Expressive Business Strategies 2010 - 2012

6. Primjer bilance stanja (c) Copyright Expressive Business Strategies 2010 - 2012

7. Why are these reports important?/ Zato su ova izvjea vana? They give you a quick picture of the health of your business. /Daju vam brzinsku sliku zdravlja vaeg poslovanja. You should look at your income statement and balance sheet monthly. /Trebali biste mjeseno pregledavati vau tablicu prihoda i bilancu. You should look at your cash flow daily. /Trebali biste svakodnevno pratiti protok novca. Lets talk about Cash Flow /Razgovarajmo o protoku novca /gotovine. (c) Copyright Expressive Business Strategies 2010 - 2012

8. Novac (gotovina) kraljuje! You need to understand cash and how important it is to your business./Morate razumjeti vanost novca za va posao? Sales do not pay bills, cash does /prodaja ne plaa raune, to ini novac Cash is the gasoline that makes your business engine work./Novac je benzin koji pokree motor vaeg poslovanja. Most businesses fail because they run out of cash through losses or other poor management practices. /veina poslova propada jer ostanu bez novca zbog loe upravljanja. 100% of businesses that run out of cash - FAIL!!/ SVI poslovi koji ostanu bez novca PROPADAJU (c) Copyright Expressive Business Strategies 2010 - 2012

9. CASH Flow/Protok novca Ask your accountant to construct a cash flow statement. Proper cash management begins here. Zatraite svog raunovou da vam izradi tablicu protoka novca. Ispravno upravljanje novcem poinje ovdje. (c) Copyright Expressive Business Strategies 2010 - 2012

10. CASH Flow defined/Definicija protoka gotovine Cash flow is defined as cash receipts minus cash payments received over a given period of time. /Protok gotovine se definira kao gotovinski rauni, minus gotovinske uplate primljene tijekom odreenog vremena. (c) Copyright Expressive Business Strategies 2010 - 2012

11. Improving CASH Flow/Poboljanje protoka novca Collect your receivables faster./ Bre sakupljajte uplate. If you have a product business get extended credit from your vendors, maybe 60 or 90 days. /Ako imate posao koji ukljuuje proizvode, skratite rok uplate na 60 do 90 dana. Sell inventory faster and keeping your inventory levels low. Know what sells well and what doesnt. /Bre prodajte robu koja vam je u skladitu i ne drite puno robe u skladitu. Saznajte to se dobro prodaja, a to ne. (c) Copyright Expressive Business Strategies 2010 - 2012

12. Encourage your customers to pay with credit cards. /Ohrabrujte muterije da plaaju kreditnim karticama. Give customers cash discounts for paying there bills on time. /Dajte muterijama popust na gotovinu ako plate raune na vrijeme. Ask customers to pay a deposit or advance for services before you perform them. /Traite muterije za polog ili avans za usluge prije no to ih isporuite. Bill customers as soon as you perform the service or deliver the product. /aljite raune im isporuite robu ili uslugu. (c) Copyright Expressive Business Strategies 2007-2010 12

13. Debt Collection /Naplata dugova When you accept purchase orders and grow your receivables, you are extending credit to your customers, make sure you establish credit practices that are 1) fair enough to your customers under any applicable laws, and 2) strict enough to ensure that your business will get paid. /Kada prihvatite naloge za kupnju i imate otvorene stavke za naplatu tako da imate muterije koje vam duguju, razvijte praksu naplate koja je 1) pravedna prema vaim kupcima i u skladu sa zakonima 2) dovoljno stroga da osigura vae poslovanje. Expressive Business Strategies 2008- All Rights Reserved 13

14. Have a set procedure in place that your business will follow if customers don't pay when they're supposed to, i.e. overdue notices, demand letters, and collection notices. /Odredite procedure za sluaj neplaanja na vrijeme primjerice obavijest o kanjenju, opomene, zahtjevi za plaanje. A measured approach to debt collection is better in the long run than immediately going to a collection agency or court. /Odmjereni pristup naplati dugova dugorono je bolji nego izravno pokretanje sudskih tubi. (c) Copyright Expressive Business Strategies 2007-2010 14

15. A final thought on Cash Flow/ Zavrna misao o protoku novca Remember that a REAL customer is only one that pays their bills in the agreed upon time./Upamtite da su PRAVE muterije one koje plaaju svoje raune u ugovorenom roku. (c) Copyright Expressive Business Strategies 2010 - 2012

16. Funding your Business Financiranje vaeg poslovanja (c) Copyright Expressive Business Strategies 2007-2010 16

17. Funding your business/ Financiranje vaeg poslovanja Understand your business, Understand your market, Understand your risk, understand your competition These are all the fundamentals of a business plan. You need a business plan to raise capital. / Morate razumjeti svoj posao, svoje trite, rizik koji poduzimate, svoju konkurenciju. Sve su to temelji poslovnog plana. Potreban vam je poslovni plan kako bi doli do kapitala. Lets look at the process /Pogledajmo kako izgleda taj proces (c) Copyright Expressive Business Strategies 2007-2010 17

18. Raising Capital is dependent on:/Prikupljanje kapitala ovisi o: Government/Vladi Business codes/ pravilima poslovanja Laws/zakonima Enforcement /provoenju zakona Culture /kulturi Risk-taking/ spremnosti na preuzimanje rizika Saving vs debtor /tednji naspram dugova Interest friendly /jesu li krediti prihvatljiv nain financiranja Business type/vrsti posla Product vs service /proizvod ili usluga Key asset /kljuna imovina i sredstva kojim raspolaemo Large vs small /veliki ili mali Risk level /razini rizika (c) Copyright Expressive Business Strategies 2007-2010 18

19. Dependence (cont) Ovisnost nastavak Business climate /poslovnoj klimi Competition /konkurenciji Economy /gospodarstvu Size of deal /veliini posla(ugovora) Investor type /vrsti investitora Family/ friends /obitelj i prijatelji High net worth individuals (angels) /dobro umreeni pojedinci (aneli) Other businesses (e.g., partners)/drugih tvrtkama (npr. partnerima) Professional investors /profesionalnim investitorima Lenders /vjerovnicima Governments /vlastima (c) Copyright Expressive Business Strategies 2007-2010 19

20. A word about Partnerships Rije o partnerstvima Choose Partners carefully /Paljivo birajte partnere Do they complement what you do? /Upotpunjuju li va posao? Are they of a like mind?/ Razmiljaju li poput vas? Equally yoked versus unequally yoked /Snose li isti teret s vama? Understand the value of what they bring. /Potrebno je razumjeti vrijednost onoga to donose u poslovanje. Dont just go for the money/Nemojte se uputati samo zbog novca. Understand how you would resolve conflict should that arise./Znajte kao rijeiti potencijalne sukobe. (c) Copyright Expressive Business Strategies 2007-2010 20

21. When raising capital what people forget. /Pri sakupljanju kapitala ljudi zaborave Two factors are frequently overlooked by those raising capital, and weigh heavily on investor decisions: /esto se previde dva faktora pri sakupljanju kapitala koji znatno utjeu na odluku investitora. Threshold amount /iznos poetnog kapitala Liquidity /likvidnost (c) Copyright Expressive Business Strategies 2007-2010 21

22. Threshold amount/Poetni kapital The threshold amount is that sum which is needed to fund the company until it can either:/Poetni kapital je iznos potreba da bi se tvrtka financirala sve dok ne Raise more capital /sakupi vie kapitala Ensure liquidity/osigura likvidnost (c) Copyright Expressive Business Strategies 2007-2010 22

23. Liquidity/Likvidnost Liquidity is necessary for an investor to profit from an investment /Likvidnost je nuna da bi investitor profitirao od svoje investicije. Liquidity events could be: /likvidnost se osigurava kroz From profits /profit From the sale of assets /prodaje imovine From the sale of the business /prodaje poslovanja From becoming a Public company (allowing the sale of an individuals stake in the business)/prodajom pojedinanih uloga u tvrtci (c) Copyright Expressive Business Strategies 2007-2010 23

24. The Funding Deal Structure /Struktura ugovora o financiranju Can alter risk, threshold amount and liquidity /moe promijeniti rizik, poetni kapital i likvidnost Should be specific to the investor audience /Mora biti specifino odreena za specifine investitore. Thus, multiple versions of a Business Plan may be appropriate /Stoga je potrebno izraditi vie verzija poslovnog plana. (c) Copyright Expressive Business Strategies 2007-2010 24

25. How investors decide. Kako investitori odluuju Investor decision making is primarily a process of due diligence /Investitori odluuju primarno na temelju istraivanja . Due diligence is often an investigation of why a business will NOT succeed. It is a hunt for horribles/To je istraivanja razloga zbog kojih bi posao mogao propasti. To je lov na najgore. Your role is to provide independent evidence that bad things will not happen. /Vaa je uloga da pruite neovisne dokaze da se loe stvari nee dogoditi. (c) Copyright Expressive Business Strategies 2007-2010 25

26. Managing Due Diligence /Pruanje informacija zainteresiranim investitorima Do not emphasize your own convictions. These are opinions. Investors want evidence. /Nemojte prenaglaavati vaa uvjerenja. Ona su subjektivna. Investitori ele dokaze. Use research and analysis, the more independent, the better. /Koristite neovisne analize. Keep a record of all possible concerns. /Biljeite to brine investitore. (c) Copyright Expressive Business Strategies 2007-2010 26

27. Managing Due Dilligence Respond only when prepared. /Reagirajte samo kada ste pripremljeni. Follow up on all concerns (thoroughly). /Uinite neto po pitanju onoga to brine investitore. Admit risks or unknowns /Priznajte da postoje rizici i nepoznanice. (c) Copyright Expressive Business Strategies 2007-2010 27

28. The Decision Odluka Remember, investors decide to invest when they conclude the business will succeed, not when you conclude it will succeed. /Upamtite, investitori se odluuju uloiti kada oni, ne vi, zakljue da e posao uspjeti. Focus on the lead/fokusirajte se na potencijalnog investitora Follow up aggressively, but not obnoxiously /Nastavite agresivno, ali ne napadno i neugodno. Be flexible/Budite fleksibilni. Be prepare for a long process /Budite spremni na dugaak proces. (c) Copyright Expressive 28 Business Strategies 2007-2010

29. Use of Funds/Koritenje sredstava Funding provides cash that fuel business growth./Financiranje omoguava sredstva koja omoguuju rast poslovanja. Lets look at ways to grow your business/ Pogledajmo kako moemo razvijati svoje poslovanje. (c) Copyright Expressive Business Strategies 2007-2010 29

30. Customer Satisfaction: Growing your business /Zadovoljstvo muterija: rast vaeg poslovanja Simply defined, growing your business means to generate more revenue and increase your profits. Jednostavno definirano, razvijanje poslovanja znai stvaranje vie prihoda i poveanje profita. Expressive Business Strtegies, 2012. All Rights Reserved.

31. How do you do that? Kako to postii? 1. Gain new customers or clients /Zadobivanjem novih kupaca ili muterija 2. Increase the profits associated with each sale, transaction or contract. /Poveanjem profita povezanog uz svaku prodaju, transakciju i ugovor. 3. Increase repeat business (keep current customers / clients coming back for more)/ Odrite postojee muterije koje e vam se vraati po jo. Expressive Business Strategies, 2012. All Rights Reserved.

32. New customers / clients Novi kupci /muterije Requires a lot of resources and effort /Potrebno je mnogo resursa i truda. Branding/Stvaranje prepoznatljivosti Longer sales cycle / dui ciklusi prodaje money /novac (Obviously) If you have a completely new business, you do need to focus all of your efforts in gaining new customers./Ako ste potpuno novi u poslovanju, potrebno se fokusirati na stjecanje novih muterija. Expressive Business Strategies, 2012. All Rights Reserved.

33. Increasing profits for each transaction/ Poveanje profita za svaku transakciju Reduce costs /Smanjite trokove Must add up everything that goes into the cost of a business transaction /Morate zbrojiti sve to ulazi u cijenu poslovne transakcije. Costs of raw materials, salaries of workers /Cijena materijala, plae radnika. Dont forget rest of the costs for example, rent, taxes, all other salaries, marketing, travel) /Ne zaboravite na ostale trokove kao najam, porezi i druge plae, marketing, putovanje Expressive Business Strategies, 2012. All Rights Reserved.

34. Increasing profits for each transaction/ Poveanje profita za svaku transakciju Be careful not to sacrifice quality!!! /Pazite da ne rtvujete kvalitetu!!! Raise prices (very difficult to do in tough economic times) /Podignite cijene (to nije nimalo lako u tekim ekonomskim uvjetima) (c) Copyright Expressive Business Strategies 2007-2010 34

35. Repeat business/ Ponavljanje poslova Much easier to sell more to current customers/Mnogo je lake prodati vie postojeim muterijama. Relationship is already established /Ve postoji odnos. They know who you are /Poznaju vas. Trust is established /Postoji povjerenje. Like your products or services /Svia im se va proizvod ili usluga. Expressive Business Strategies, 2012. All Rights Reserved.

36. Reaching current customers Dosezanje postojeih muterija You need a method of telling customers when something new is available, a sale is occurring, etc /Potrebna vam je metoda obavjetavanja muterija o novostima (popustima i sl.) Have them sign up for a mailing list /Neka vam se prijave na mailing listu. Gather their email and mailing addresses /Prikupite njihove e- mailove i adrese. Sign up on Facebook or your website /Neka vas prate na Faceebooku ili web stranici Get their phone number/Uzmite brojeve telefona. Use the method of reaching your existing customers that makes sense for your company /Upotrijebiti metodu koja odgovora vaoj tvrtci.Expressive Business Strategies, 2012. All Rights Reserved.

37. Reaching current customers Customer satisfaction /Dosezanje postojeih muterijazadovoljstvo muterija No point trying to reach current customers or clients if they are not happy with your products and/or services! /Nema smisla dosezati postojee muterije ako su one nezadovoljne vaim proizvodima i uslugama. Expressive Business Strategies, 2012. All Rights Reserved.

38. Achieving customer satisfaction Kako zadovoljiti muterije The customer is always right/Kupac je uvijek u pravu Take their complaints and learn from them use the information to make your process or product or service better /Prihvatite njihove prigovore i uite iz njih upotrijebite informaciju kako biste poboljali svoj proizvod ili uslugu. Expressive Business Strategies, 2012. All Rights Reserved.

39. Retaining existing customers Zadravanje postojeih muterija Do not assume that your customers will keep buying just because theyve purchased from you before /Nemojte misliti da e vae muterije i dalje kupovati od vas samo zato to su to inile ranije. Customers: /Kupci(muterije) Must feel there is a perceived value/Moraju osjetiti da ih se vrednuje. Want consistency of products and services /ele konzistentnost proizvoda i usluga Need to feel listened-to /Trebaju da ih se saslua. Expressive Business Strategies, 2012. All Rights Reserved.

40. Survey your customers/Napravite istraivanje meu muterijama Find out about their experience / satisfaction with a product. Use this information to improve AND to know youre doing the right thing Saznajte o njihovim iskustvima. Upotrijebite te informacije kako bi poboljali poslovanje i saznali radite li dobro. Expressive Business Strategies, 2012. All Rights Reserved.

41. Offer product reviews on your website /Ponudite ocjenu proizvoda na svojim web stranicama. Comment card on restaurant table/Stavite knjige komentara u restoranima. Coupon for filling out survey /Dajte muterijama listie s kratkim anketama. Email a survey /aljite ankete e-mailom. Call once a service has been completed to make sure it was satisfactory /Nazovite nakon to je proizvod ili usluga isporuena i pitajte jesu li zadovoljni. (c) Copyright Expressive Business Strategies 2007-2010 41

42. Customer satisfaction/ Zadovoljstvo muterija Provide good value for the price /Pruite kvalitetu za cijenu koju nudite. Provide excellent service /Pruite izvrsnu uslugu. Listen to your customers /Sluajte svoje muterije Expressive Business Strategies, 2012. All Rights Reserved.

43. Pay attention to the details/Obratite pozornost na detalje Often its the small things that make a difference Ask yourself would I be satisfied with our customer service and the quality of our products?/ esto su male stvari te koje ine razliku. Upitajte se biste li vi bili zadovolji kvalitetom usluge ili proizvoda koji nudite. (c) Copyright Expressive Business Strategies 2007-2010 43

44. Key to Growing your business/Klju za razvijanje poslovanja The easiest sale is to your current customers / clients, keep them satisfied./Najlaka prodaje je postojeim muterijama, neka budu zadovoljne. Dont be so focused on gaining new customers that you ignore your customer customers / clients. /Nemojte se fokusirati na dosezane novih muterija tako to ete ignorirati postojee Expressive Business Strategies, 2012. All Rights Reserved.

45. Summary/Saetak Business is about risk. Its a risk to start a business./Posao je rizik. Pokretanje poslova je riskantno. Understanding your risk, market, business and competition helps you with business planning./Razumijevanje vaeg rizika, posla i kompeticije pomae vam u razvoju poslovanja. (c) Copyright Expressive Business Strategies 2007-2010 45

46. With a good plan you can raise money to fuel growth. /Uz dobar plan moete skupiti novac za poticanje rasta. Grow your business and keep your customers satisfied. /Razvijajte svoj posao i odravajte zadovoljstvo svojih muterija. The Result: Success! /Rezultat: Uspjeh! (c) Copyright Expressive Business Strategies 2007-2010 46