Constitution of Service Sector


Service sector comprises following services:

Lodging Services

Hotels, rooming houses, and other lodging places

Sporting and recreation camps

Trailering parks and camp sites for transients

Personal Services

Laundries

Childcare

Linen supply

Shoe repair

Diaper service

Funeral homes

Carpet cleaning

Tax preparation

Photographic studios

Beauty shops

Health clubs

Business Services

Accounting

Exterminating

Agencies

Employment agencies

Collection agencies

Computer programming

Commercial photography

R&D labs

Commercial art

Secretarial services

Management services

Window cleaning

Public relations

Consulting

Detective agencies

Equipment rental

Interior design

Automotive Repair Services and Garages

Auto rental

Tire retreading

Truck rental

Exhaust system shops

Parking lots

Car washes

Paint shops

Transmission repair

Motion Picture Industry

Production

Theaters

Distribution

Drive-ins

Amusement and Recreation Services

Dance halls

Race tracks

Orchestras

Golf courses

Pool halls

Amusement parks

Carnivals

Fairs

Ice-skating rinks

Botanical gardens

Circuses

Swimming pools

Health Services

Physicians

Nursery care

Dentists

Medical labs

Chiropractors

Dental labs

Legal Services

Educational Services

Libraries

Correspondence schools

Schools

Data processing schools

Social Services

Child care

Family services

Job training

Non-commercial Museums, Art Galleries, and Botanical & Zoological Gardens

Selected Membership Organizations

Business associations

Civic associations

Financial Services

Banking

Investment firms

Insurance

Real estate agencies

Miscellaneous Repair Services

Radio and television

Welding

Watch

Sharpening

Reuphoistery

Septic tank cleaning

Architectural

Surveying

Engineering

Utilities

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

Advertisements

Just about Cash Flow


Cash flow is different from profit. Profit is the difference between revenues and expenses. Cash flow is the difference between receipts and disbursements of cash. Profit may flow whether or not anybody has paid for anything. Cash flows only when somebody pays for something. Time after time, businesses with good sales and good profits go broke. It is surprisingly commonplace. The problem is the the cash doesn’t flow when the profit flows.

The explanations for the large number of new business failures, undercapitalization, inadequate management, and poor marketing, may be valid, but the overwhelming reason is that the managers did not understand cash flow. They behaved as if profit were cash, which is not. They acted as if all that is needed to win the business game is to make a profit, which is not true. Cash is different from profit. You need both to win the business game.

A business can survive and thrive only if it has both positive profit (not losses) and positive cash flow (more flowing into the bank than out of it). To win you must produce more than you consume, and you must do it in such a way that you can meet critical payments as they come due.

Profit may be the most common measure of whether a business is winning or losing, but cash flow is the most critical measure. Businesses can survive a surprisingly long time without profit. They die on the first payday there is no cash.

Your company’s bank is like a jar is a reservoir, so it is the gas tank. And what is in the reservoir is easy to measure. The amount in the reservoir is what was put in minus what was taken out. A convenient way to measure whether the supply is increasing or decreasing is to measure whether more was entering or leaving during the most recent period of time. Cash flow into the bank account is such a measure. How much is in the reservoir is of intetrest, of course, but it is changed by changing the cash flow.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, Line of Sight