Tips, advice and solutions for business owners wanting to grow or improve their business
There is a gold mine of new opportunity in your existing client base - you simply need to know where to look.
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.... read more
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....... read more
Cash is critically important for business, with many businesses finding that January can be extra tough on the cash front following the Christmas/New Year period.
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 over the festive season.... read 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.
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.... read more
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....... read more
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?... read more
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!... read more
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“.... read more
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.... read more
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 that have made the business successful, suddenly go wrong - and often....very wrong!... read more
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?... read more
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.... read more
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.... read more
Effective marketing is the ultimate answer for increased sales opportunity, with many different marketing methods available, BUT….. a critical aspect which is frequently overlooked in the assessment of marketing effectiveness is the time and cost of the activity.... read more
Business owners tolerate a lot, whether it is poor performing staff, process problems, cash flow, IT and the like. In doing this, the level of stress or pressure on the owner (and in many cases - the business) rises in direct proportion.... read more
Pricing... pricing... pricing... it’s all about getting the price right - so that your price point is not only accepted by the market.... but also delivers sufficient profit to your bottom line.... read more
"Fail to plan is planning to fail" - Winston Churchill.
Even though this well used line receives universal acceptance in conversation....... few businesses "walk the talk".... read more
At the heart of any successful sales program are a heathy number of leads generated by a well formulated marketing program. Equally, where sales or revenue levels are not hitting the mark – then generally there is no effective marketing plan in place.... read more
Operating a business has its challenges due to the many and varied issues drawing on the owners time – people, product, sales, collections, just to name a few. Thus it’s no wonder that many business owners operate “in” rather than “on” their business – which has its dangers.... read more
There are three key strategies available to energise your bottom line, with then an infinite number of tactics which can be used to support them - customised to your business and its circumstance.... read more