It doesn’t matter if your business is a local start-up or a multi-national giant, when it comes to the management of your cash flow and your profit, you share the same concerns. It is vital to understand the difference between cash flow and profits, as well as that they don’t necessarily coincide. It may seem […]
The Big Difference Between Profit and Cash Read More »
Analysing common financial ratios in your business provides you with insights and perspectives that enable you to better determine the actual performance of your business, be clear about its current condition and make better projections. It is a way of gathering facts to inform your next moves, rather than forging ahead on the basis of
Understanding The Common Business Financial Ratios Read More »
The choice of a supplier for your business is a task that should not be taken lightly. If at any point your supplier does not ‘come through’, your business activities will be halted, and your ability to meet the needs of your customers will be compromised. An unhappy customer is equivalent to an ailing business.
Choose A Supplier The Way You’re Chosen Read More »
Too often you will hear small business owners saying that they’re far too busy running their businesses to properly take note of what their competition is doing. As a business owner you are always going to be ‘too busy’. The reality is that competitive analysis is a far-sighted, strategic process that should not be ignored
How Competitive Analysis Helps Small Businesses Read More »
If you’re a small business owner who thinks that planning for disaster recovery is for the big corporations, think again! Research from U.S.A and U.K. shows those disasters causing disruptions of operations for ten days or more or a total loss of data result in less than 10% of small businesses actually surviving. Some limp
Why Small Businesses Also Have To Think About Disaster Recovery Read More »
Success in business is rooted in consistent, high quality service. The reason for this is that you won’t achieve customer satisfaction if you’re short on quality service. Customer satisfaction is not just about your customers feeling pleased with your business – it makes a direct impact on your bottom line. Your marketing and advertising may
Quality Customer Service is the Key to Your Success Read More »
In a new business, the first flush of success is very exciting. When sales start to increase and opportunities begin to emerge on the horizon, it is natural for the business owner to start thinking of expansion. However, unplanned growth, especially if it is rapid, can seriously destabilise your business. You can avoid the pitfall
7 Things You Must Consider In Planning Your Business Growth Read More »
Concentration Risk! Not a risk with concentrating so hard your brain hurts, but the risk associated with your business being reliant on too few customers. For many businesses, once they win the first BIG deal there is a feeling of excitement and achievement. You’ve finally got that deal that will deliver the revenue you have
The Risk of Too Few Customers Read More »
To quote Peter Drucker, “Management is about doing things right, Leadership is about doing the right things”. A leader provides direction (short and long range focus) and answers the “What and why?” (a manger answers the ‘how to’). Leaders provide the strategic direction of an organisation (where to play and how to win) and establish
Be A Leader To Create More Profits Read More »
Why is it that people can give more thought to a fishing expedition than they do their business? If you want the best chance of catching fish you go where the fish are and you use the most appropriate bait. Good fishermen (and women) research this before wetting a line. Poor fishers don’t. It’s the
5 Questions to Ask to Get Your Strategy Right Read More »