Business Planning

Tips, advice and solutions for business owners wanting to grow or improve their business

Why you should focus on your Customer Market

Why you should focus on your Customer Market

Who is your customer (or client), and 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.

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( Posted in: Business Performance )

Business Risk during the Festive Season

Business Risk during 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.
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( Posted in: Risk Mitigation )

Cash relief for stressed business owners

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...
 
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( Posted in: Cash Management )

Why you should consider more than just the Easy Option

Why you should consider more than just the Easy Option

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 option 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 is the right option.

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( Posted in: Business Management )

9 Point Test to evaluate if a new Product Idea is Viable

9 Point Test to evaluate if a new Product Idea is Viable

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….

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( Posted in: Business Management )

Clear Business Process + Strong Execution = Great Savings

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.

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( Posted in: Business Performance )

Business - when Good Times go BAD

Business - when Good Times go BAD

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!

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( Posted in: Risk Mitigation )

Business Growth Costs....

Business Growth Costs....

Often the objective of most businesses, SALES GROWTH 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? 

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( Posted in: Business Management )

The One More Thing for business success

The One More Thing for 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.

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( Posted in: Business Performance )

New Years Resolution for Business

New Years Resolution for Business

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.

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( Posted in: Business Management )

Fail to have a Business Plan is Planning to Fail in Business

Fail to have a Business Plan is Planning to Fail in Business

"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".

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( Posted in: Business Management )

Sure Fire Business Killers

Sure Fire Business Killers

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.

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( Posted in: Business Management )

Business Decisions - play them forward three hands

Business Decisions - play them forward three hands

Many strategies and decisions are made "in the moment" - considering only todays issues with little thought given to the flow on effects or impacts.

Consider for a moment what this could look like in a practical business context;

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( Posted in: Business Management )