About Stewart Clark

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Entries by Stewart Clark

Business Strategies for Christmas and New Year: A Guide for Small to Medium Enterprises

As the festive season approaches, the small to medium business sector (SMBs) face unique challenges and opportunities. The period leading up to Christmas and the New Year is crucial for maintaining momentum, managing resources, and ensuring a successful transition into the new year. This article outlines essential areas that SMBs should focus on to position themselves effectively for both the silly season and the year beyond.

Must-Do Strategies for Christmas

1. Manage Cash Flow

Cash flow management is paramount during this period. Increased consumer spending can lead to higher sales, but it can also strain your finances if not monitored

… Read More

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Characteristics of Successful Leadership in Business: A Comprehensive Guide

Leadership is one of the many buzzwords used in business today. Yet, when you challenge someone to define what they call leadership, often there is nothing but silence. When you look around the world at some of our pronounced leaders, leadership is perhaps the last word you would use to describe them. Unfortunately, this is also very true in many business operations. As individuals, business owners, business coaches, employers and employees, we have a collective responsibility to define leadership for our collective benefit.

Characteristics of successful leadership

From my experience in small, medium and corporate businesses, the best leaders I … Read More

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Boost Your Business Cashflow: 10 Proven Strategies

Cash is critically important for business, with many operators finding that periods after holidays or short trading months can be extra tough on the cash front.

Staff leave payments, a short close down, penalty rates for public holidays, slow debtor collections or even extra stock holdings, will all have drained cash from your business.

So, if you have returned to work after a short break with a bit of a “cash hangover”, here is some practical actions which can stimulate some extra cashflow.

Product/Service Special

This can be one of your normal services, or perhaps a package of a few … Read More

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Unlocking Growth: The Importance of Customer Market Focus

Who are your customers & what do they want from you?

These are two simple questions which many businesses struggle to be able to define.

If you don’t know who your customer is, then it is impossible for you to maximise your business potential, because you won’t fully understand their needs and you could be leaving sales opportunities on the table.

Even worse, if you don’t understand your customer type, then you are oblivious to the fact that they may be on the path to extinction – which means….that your business may only be a few steps behind.… Read More

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Mastering Business Life-Cycle Stages: A Comprehensive Guide

Businesses are not static beasts, they change and evolve over time – and as they do, their needs vary. By understanding the different life-cycle phases of a business, owners have the ability to position themselves differently and focus on different facets which will drive enhanced returns.

Broadly, there are 5 distinct life-cycle stages;

  • Start-Up
  • Growth
  • Established / Expansion
  • Mature
  • Exit

All of these naturally share some characteristics, but each life-cycle has its own identity.

Start-Up

It starts with an idea and then a business is born. The barriers to starting a business are pretty low, so many businesses start … Read More

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Building a Referral Network: The Key to Sustainable Client Growth

There is a gold mine of new opportunity in your existing client base – you simply need to know where to look.

Business is very much about sustainability – the sustainability of new client opportunities/leads along with good sustained profit and cash flow. Drawing these together makes for a very profitable business operation in the short term, and fosters strong enterprise/business value over the longer term.

So, how do you tap into this sustainable flow of new opportunities?

One way, is via referrals from your existing client base. 

Referrals from people who already know and value what you do … Read More

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Navigating Business Risks in the Festive Season

As we take the run into Christmas, most business are focused on getting things finished so they can wind down for a bit of R ’n‘ R over the Christmas & New Year period. Naturally, those in Retail are still geared up until after the post Christmas sales and Hospitality, will run hard until the holidays finish, but….there is another group who are gearing up for a busy holiday season.

This group, would officially be on the “naughty list”, as this group have only one objective – to rob you.

What’s normally left off the pre-Christmas “to do … Read More

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Breaking Down Phone Barriers for Greater Business Success

In business, the humble phone is such an important tool – yet many business owners will not dial a prospect or debtor. The reasons for this span from; a simple lack of purpose, through to a real phobia or fear, however the outcome is the same – the call is not made – and this is what costs business.

For the bulk of people, the avoidance of making critical phone calls can be overcome by following some practical steps along with some honest perseverance. For the smaller group who still find issues, then face into the issue and seek some … Read More

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Designing for Success: Top 10 Elements of Effective Brochure Design

A well designed brochure will stack the “sales” deck in you favour and drive deeper profit returns. When you are selling, you want your prospect to see as much compelling and relevant information as possible, to both provide critical product/service information and to support your sales process.
Brochures come in many shapes and forms, with some aimed at marketing, some at selling and a number which are a hybrid and sit in between. Regardless of the use, there are 10 elements which need to be considered to make your brochure an effective profit making tool;

Purpose

Consider how

… Read More

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Ready to Launch Your Business? Here’s What You Need to Know

I want to run my own business, so now what?

I’ve heard this line on many occasions over the years. Bright eyed and highly energised potential business owners with a concept for a business that they want to run. Of course, as every experienced business owner will tell you, it’s actually not that simple to run a business – successfully and profitable. There are many pitfalls and in most cases – you need to spend a few dollars before you can turn a dollar.

For those serious about setting up a business for long term success – this article … Read More

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Elevate Sales Effectiveness: Harnessing Quality Collateral

Selling is about showing your customer in a convincing way, that your product (or service) is worth the value you are asking and….. that it meets their need or desire. Naturally, this point is not rocket science, albeit the way in which you show them or prove up the value of your product can have many layers of skill to it.

Over many years of working in a sales environment, we have noted that the vast majority of customers are visual in the way in which they assess the value of a product. What this means is that when … Read More

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Crafting Compelling Copy for Irresistible Sales

If someone said to you, “you’re going to want that Kidney..” – would you pay attention? I did. How about if someone said, “if left alone, it will continue to devour the cells around it” – do you think you would listen to what they said next? It got me.

Both examples are Compelling Copy.

I appreciate that both are medical based, however each show how compelling copy can entice or intrigue the audience into wanting to know more or to do something – which is typically the intent of any marketing.

Headline comments are perhaps … Read More

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Optimizing Staffing: The Blueprint for an Effective Business Structure

As every business owner will have heard, the greatest asset in your business is your staff… In many ways I support this comment – having benefited from having some truly exceptional people work with me, and for me, over the years. However, the evolution of business over time has meant that the traditional staffing structures now are getting questioned – and they need to be challenged in many businesses to ensure the viability of the business.

The traditional business structure surrounded itself with paid full-time staff, supplemented with part-time and then casual staff, and for the rare occasion – … Read More

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Decoding Business Sale Values: A Strategic Approach

Increasingly with the transition of the Baby Boomers into retirement, more and more business owners are considering the sale of their business. This is a very important event, as it allows them to unlock the investment which they have built up in their business over time and assists with funding their retirement. The key question is generally – “how much is it worth?”

We have appraised many businesses as part of our business brokering – so we know that there are many different “value” numbers in use in the market. They include;

  1. The wish value – the value

… Read More

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The Small Business Conundrum: Navigating the Danger Zone

Being seen as “small” can cost you business.

That’s not saying that the service or the quality of a small business product is poor – (often it is the exact opposite), but a common perception encountered by small business is that “big” is better or safer. In a world where you are competing with “the bigger guy”, then this perception can easily cost you business – especially in the initial marketing phase.

So the answer is simple…… don’t “look” small!

In my varied dealings with business over the years, I have noted that there are 7 indicators which signal… Read More

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The Benefit of Honest and Timely Performance Appraisals

Staff can be the greatest asset in your business, but for any service based business – they typically will be the greatest expense – whether they are an asset or not.

Perhaps its my corporate background, my genuine desire to improve things (people and businesses), or it might simply just be my objective to see a larger number at the bottom line – but regardless of the driver, I have consistently found that well delivered performance appraisals work AND….that most small and medium businesses don’t do them.

Well performing and engaged staff are truely a great asset to any business. … Read More

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Critical Components of a Good Job Description

Job descriptions are a valuable tool for both staff and employers and unfortunately, they tend to be absent in many businesses.

For the staff member, a good job description provides clarity around the role, what the core responsibilities are, outlines the accountabilities/delegations and shows the associated performance criteria.

For the employer, it provides important boundaries for the staff members to operate within, noting that they are only one staff member in what is typically a larger group. Frequently, it’s only the owner/manager who has full line of sight of all roles, so clear definition of “who is … Read More

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Unlocking Business Value: Every Business is Saleable

Essentially every business is saleable; it’s simply the sale value and terms which vary. The issue faced by many business owners is that the sale value/terms available, are significantly lower than they had hoped for.

So if you are seeking a sale exit from your business – you really have the following options available;

  • Sale to the Open Market
  • Break up and sale of the components (essentially a liquidation of the business for its raw assets)
  • Sale to associated entities / employees

Each of these have merit, but come with different costs and benefits which need to be carefully considered … Read More

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Avoiding Web Mishaps: The Hidden Costs for Your Business

The web site of today is like the business card of 20 years ago – no serious business would be without one. It provides your name and contact number, but is also a window into the business, with your design, logo and flair. As with a business card, you can tell a lot about a business with even a quick look at their web site – but…as with business cards, not all web sites were born equal.

Regrettably, some of these sites have never successfully “drawn breath” and have either been a pure cost to the business, or have … Read More

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Navigating Business Sales Activity in Your Prospect Pipeline

Businesses with strong consistent sales, typically are the same ones who have a deep prospect pipeline. Regardless of the type of business or product, those who have the depth of opportunity in their sales pipeline, are also the ones who have less stress and typically better margins.

When you only have one or two prospects in your sales pipeline, there is the pressure to progress those opportunities quickly – perhaps with even a level of desperation. Whether these opportunities are ready or worthy – they are still progressed.

I have often used the analogy and comparison of a sales … Read More

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Enhancing Business Efficiency in Small Enterprises

Improvement in efficiency has been an age old quest in business, as it has enabled either more to be achieved with less effort, or for the same amount of effort, but faster with more profit.

For many reading this article, the phone or tablet you are using provides you with a more effective use of your time – as you can read this on the run. Five years ago, you would have needed to be at a computer, 10-15 years ago you would have needed to go and buy a magazine.

Increased efficiency has a variety of potential benefits, including; … Read More

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Providing Cash Relief for Stressed Business Owners

Cash is one of the top few stress triggers for business. Not having enough, not knowing where it will come from, or simply….. a puzzle around the best way to use it. In a physical situation – cash is pretty well understood, but when it hits the virtual, electronic or theoretical – I find that eyes start to glaze.

Much of this reaction is directly attributable to a lack of understanding of the information available.

Financial accounts are “rear-facing” – meaning that they only show you what has happened. This is good value for sure – … Read More

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The Wallet Size Multi-Tool for Business Success

If you admire gadgets or clever design, then you will most likely have one of those nifty little tools’ which have dozens of attachments enabling you to; cut, bend, clamp, squash, saw or sew. They come in a range of colours and sizes, from pink micro versions to hang off your keys to the bulkier silver numbers designed for a holster on your belt….but….have you ever considered the value of the super thin plastic version?

Perhaps one of the smartest (and most common) multi-tools on the market for business is the 2.8mm thick plastic credit card you are carrying … Read More

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Business Data: Valuable Asset or Expensive Handicap?

It’s well recognised in many corporate environments that data quality is a large and expensive issue. 

For banks & insurance companies with risk data, retailers with stock, marketers with poor lists, and countless others who rely on accurate financial info – poor data quality is an issue as it breeds inefficiency, increases expense and robs capital. For the big boys, the cost of this can generally be absorbed as they have the scale to cover it. It’s the smaller players in the SME market who I find get knocked around the most by poor data quality.

Don’t think that … Read More

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Strategies for Business Improvement in the Year Ahead

Christmas Day has been and gone and New Years is settling in, but when you sit back in the comfy chair – wherever that may be, on the beach, by the water, camping or even just at home……now is the time to take a quick “stocktake” of the year that has past.

For those in business, often there is little respite as you run from one; sale, job, project, customer, site, state, transaction, employee, etc…..to another.

So when you consider the following – think to the positive as well as the negative, and give yourself a pat on … Read More

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Ensuring Business Security: Thieves Don’t Take a Holidays

With just on a week to Christmas, businesses are generally finalising last minute sales, delivering product orders, sorting through end of month accounts, preparing for New Year sales, confirming the staff leave roster, and even…. finalising the details for a staff Christmas break-up!

What’s normally left off the pre-Christmas “to do list” is security – physical and virtual.

Make no mistake, thieves will NOT be taking a holiday over the festive season – in fact, they will be working hard exploiting the combination of business closures and peak retail activity.

The risks to business vary significantly accordingly to industry, but … Read More

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Tailoring Your Business Communication for Success

Have you ever read a business note, perhaps an email or a letter and thought – huh, what’s that about…..as the tone or content of the note is as if its been written for someone else? Well perhaps it has!

In business I have found that the principle of writing for a “third party” audience, is actually not that uncommon. Often these days its in email format, with the note written more for the benefit of the person checking or reviewing the document than the recipient. The third party could be the boss, a manager, … Read More

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Mastering Effective Business Reporting

To run a business efficiently and profitability takes more than just luck. In addition to having a good service or product, successful businesses typically have a strong management information framework in place to ensure all of the critical elements of the business are running correctly.

I often liken this information to the dashboard instruments in a car – where you have a range of information to let you know how you are travelling and the condition of the car. A good management information pack does the same for a business.

Every business has “key elements” in it … Read More

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5 Steps to Better Business Financing

With countless business finance products in the market – is can be daunting for some businesses to decide which option to choose. The frequently asked question is “which one should I take?”, so to take some of the pain out of this point – we have provided 5 simple steps for better Business Financing.

To start, it’s not so much a case of which product you should take, it’s more a question of which one do you need and realistically, what is available.

Finance facilities should match the need, otherwise you run the risk of additional cost or … Read More

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Unveiling Business Trends & Patterns: A Simple Game or More?

Business trend analysis is a serious analytical technique used in countless different forms of analysis. Yet for most business owners, finding the time to complete a simple Sudoku puzzle is hard enough – let alone undertake any form of formal business review.

My point – and the point of this article, is that if you do have the time to complete a simple Sudoku puzzle, then you also have the ability to transfer some Sudoku disciplines into a more effective business management process.

Skeptical? – read on for a few minutes and then I’m happy for you to … Read More

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The Value of Continual Education in Business Success

At some point – and we have all done it, we get to a point of knowledge within our business or industry were we feel……. comfortable. It is at this very point; you can guarantee that you have just fallen BEHIND the game.

Business is ALWAYS evolving, whether it is directly such as with a new piece of equipment or product, or indirectly via innovation in a related industry such as cloud accounting or tablet invoicing. So by thinking that you have attained all of the required knowledge for your industry, it is more likely that you are … Read More

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Beyond the Easy Option: Why You Should Consider More

In a world where speed appears to be everything, often the compromise that is made is to take the generic or easy option. This has become so common in business, that the generic option is often the only one put forward – whereas there is generally many ways to skin a cat.

Now whilst I have no issue with a simple, cheap option when you can get it – the critical point is ensuring that it’s the right option.

When you are next looking for a solution to a problem or need – pause for a moment to … Read More

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A 9-Point Test for Evaluating Viable Product Ideas

We have all had them, the “business epiphanies” or “golden ideas” which come to us over the weekend whilst swinging a golf club, doing laps in the pool or just mowing the grass. In the moment….. these new product or service ideas are the perfect combination of simplicity, profitability and marketing brilliance.

By Monday morning these moments of creative thinking have….started to tarnish….with some more considered thought seeing a gap or two appear. By Wednesday, most of these ideas have been discounted and by Friday, are all but forgotten.

Would we have been better off not having … Read More

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Impactful Close Line Communication for Business Results

In business, communicating your “close” line for impact is often a crucial factor in success or failure.

The right timing for a marketing advance, to lodge a finance application or even enter a queue……all appear to have timing influencing the outcome.

The reality is that there are a number of factors at play, however good preparation is able to guide you to the right time for optimal success. 

There is no better example of this than the right timing in either dispute resolution or negotiations. Preparation to ensure that you pitch your point at the right time – … Read More

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Is Business Change Possible? Exploring the Possibilities

Is business change possible? – absolutely unequivocally yes…but it takes action. A great man once said, “If you always do what you’ve always done, then you will always get what you’ve always got” (Henry Ford) – so…..if you don’t like the outcome you’re getting at the moment…..then you have to change something!

It’s at this point that that the problems normally start.

“We have always had the ideas – but getting something to happen has been the problem”

This is the classic catch cry of many in business when confronted with the need to change. Frequently the ideas of … Read More

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Making Sound Business Decisions: A Strategic Guide

In all businesses, small or large, actions are often taken in the moment – reacting to a symptom rather than making a fully informed decision based on the cause.

Symptom management is a very frequent occurrence, with the management decisions based at a superficial level to arrest what is the perceived cause which in the bulk of cases is not the true underlying driver.

An example of this was with an electrical contractor who we once met – we will call them ElectroInc.

ElectroInc had been operating for several years with a number of electrical teams on the road … Read More

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Choosing the Right Information to Run Your Business

It’s that moment where you are sitting amongst a pile of information – numbers, graphs, returns, production numbers, stock levels, customer surveys…….all with seemingly important information……but what does it all mean……what information should I use to run my business?

These are the questions which are being raised more and more with the rise of technology, as we tend to have an unending supply of data and reports available. The secret to all of this is to understand what material is relevant to the business operations and then, to understand what the information is telling you. From this point, it’s … Read More

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What if I didn’t read the business contract?

Have you ever heard, “…what if I didn’t read the business contract before I signed it?” Unfortunately I have, with my default response being, “the devil is always in the detail”. So if you have not read your document, then the chances are that the “detail devil” will cause you trouble.

Experience has shown me that when faced with a lengthy document or contract to review, most people skip the read and get by on the verbal overview provided to them – choosing to act in the spirit of what they believe it means. For the few … Read More

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Maximizing Business Time Management for Efficiency

How many times have heard the immortal catch cry, “I don’t have enough time” and then….the more scary question – how many times have you been the one to utter it?

The lack of time is really the combination of our perception and tolerance. Perception, because busy is how we see our collection of activities – for some, 8 hours of engagements is very busy, yet for others they are wondering what you going to do with the other 2/3rds of the day. For those who immediately thought of “work” when I said “8 hours of engagements” – … Read More

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In Business, Cashflow is King: Managing Financial Flow

A well-used line in business – and for good reason, as without cash (or cashflow) in a business, it delivers the same result as a having a body without blood – SUDDEN DEATH!

I have seen mortally wounded businesses survive, simply because they had sufficient cashflow coming in the door to provide options. In some cases, the key objective was purely the opportunity to open the door again tomorrow.

There are a variety of ways to look after your cashflow – BUT FOR THIS POST we will cover one of the most fundamental and important cashflow aspects – … Read More

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Improving Business Margins: Enhancing Your Financial ‘Short Game’

Finance has shown me many things over time, but perhaps one of the more powerful concepts is “profit versus turnover”. For the golfers out there, I liken this to “driving for show VERSUS putting for dough“.

Underlying profitability and the associated free cash available for debt servicing are focal points for a Banker with any finance proposal – as this shows whether there is the expected ability to repay the loan within the proposed terms. The simple “revenue line” however, whilst interesting for trend and margin analysis, by itself – does little to prove debt servicing ability.

This … Read More

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Succeeding with Business Succession Planning

Succession is an inevitable bridge that needs to be crossed for all businesses. For some, the decision is made in a millisecond – whereas for others, it can be an all-consuming dilemma. This article is to help those struggling with this dilemma.

It is important to recognize that succession can be a very difficult and sensitive issue for the business owners to confront. Regardless of whether they founded the business or succeeded into the business themselves – the notion of handing over the reins to someone else can raise all manner of concerns.

Confronting the issue of needing to plan… Read More

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Clear Business Process + Strong Execution = Great Savings

Regardless of whether you are selling burgers to a young family with three tired kids or producing “O” rings for the space program – there is always a cost when your process fails – it’s just the magnitude that varies.

For a minute, let’s consider the more trivial of these two examples and look at the world through the lens of a parent with three children under 10. It is a warm day, the kids have been running wild all morning and at 2pm, it’s going to be a late lunch.

You place your order at the local fast food … Read More

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When Good Times Go Bad: Navigating Challenges in Business

How much risk are you carrying in your business – do you know……and what are you doing about it?

Someone once explained Operational Risk to me as the classic, ‘good times gone bad’ situation, where one or more of the things which have made the business successful, suddenly go wrong – and often….very wrong!

Perhaps a clearer or simpler description of operational risk is; a failure in the people, internal processes or systems of the business, or an external event that could have financial or reputation impacts.

For a typical SME business this could look like –

    • Poor password

… Read More

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Essential Banking Insights: The 10 Must-Knows for Businesses

You would not skydive without a parachute, so don’t do business without these.

From a banking perspective, every business should have these 10 items in their kit bag to either save, make or protect money – whilst maximising their banking relationship.

Assess whether your business has these as you go (Yes/No responses) and be honest – pass/fail thresholds are at the end.

  1. a contact (or preferably three) at their bank. When you need assistance, you need to be able to quickly bypass the web and IVR tools and speak to a real person. For a deeper understanding on

… Read More

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Navigating Business Growth Costs Effectively

Often the objective of most businesses is SALES GROWTH, but it comes at a cost…. so the real question is – how growth ready is your business?

A basic principle of business is to generate sales (product or services) to return a profit. The natural flow on from this is to generate more sales to achieve a greater profit – but…what does this take and how prepared is your business for growth?

Listed below are five key ingredients required for successful sales growth;

Personnel

Increasing sales invariably requires more of your personnel, whether it be in the creation, … Read More

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The ‘One More Thing’ for Achieving Business Success

Whether it be in sport or business, the difference between success and failure can often be simply doing one more thing than the competition. The extra phone call, one more prototype, another sales approach, an additional quality check, a larger focus group, an extra tier of service etc etc…..any of these can be the secret ingredient to business success.

A few qualifiers;

– know your competition as this will provide some form of benchmark. This is not to say that your competition is setting the right pace, but as a minimum it provides a starting point.

– work from … Read More

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The 10 Commandments of Business: Guiding Principles for Success

Many business owners are time poor and simply don’t find the time to read the more comprehensive articles. So if you are looking for a bunch of potent tips for your business – then this short article is for you. 

Aptly named the 10 Commandments of Business, these are 10 activities which will add bottom line value to every business.

Thou shalt…

  1. … plan for the business. This should be aligned to a clear vision of what the business is seeking to achieve, along with its key strategies and measures to get there.
  2. … understand your cashflow. Cash is

… Read More

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New Year’s Resolutions for Business Success in the Coming Year

The start of the new year is traditionally when we pledge resolutions for the New Year ahead – resolutions around how we are going to do things differently…do things better and often…..change a bad habit from last year.

So in lifting the bar for a better outcome, why not make some positive differences for your business at the same time – by making some New Year Business Pledges. 

But where, how, doing what?

Over the past year we have met and worked with many different businesses – small ones, large ones, ones with only a couple of staff and then … Read More

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Is Your Business Viable? A Comprehensive Evaluation Guide

Is my business viable?

This question comes in various forms from concerned business owners – but for me, it’s not so much a case of whether the business is viable – but more of whether the product/service they are selling is viable.

So the better question is really; is my product or service viable?

Running a successful business is all about having a number of business elements all working together to provide a solid outcome or profit. If any of these elements are not correct or are out of alignment, then performance suffers – which is around the time the … Read More

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