The first year of your business in Israel

Grow your business

The day-to-day running of your business in Israel will take up a great deal of your time, but as a business owner, you also have to worry about managing your company's growth.

One of the best techniques for determining where you stand in relation to other companies in your sector is to use financial ratios.

Read also: Analyze your business using financial ratios.

Learn how to manage your cash flow

During the first year of your business in Israel, knowing how to manage your cash flow will be your most important challenge. Your cash flow will determine your net operating margin, and the survival of your business.

Calculate your turnover ratios

In how many days do your customers pay you? How long does it take your suppliers to pay you? How many days do you need to clear your stock?

Read also: How to use financial turnover ratios?

Adopt a clear marketing strategy

In line with your business plan, your company should continue to develop in line with your marketing plan.

Read also: Your Marketing Plan in 5 steps.

If you run a retail or service business, you need to consider creating a website. This can take many forms, from a simple page listing your company's contact details to a secure, database-driven e-commerce site.

Good visibility is essential in today's society. Your website will be your calling card to potential customers, so it must reflect the spirit of your company.