Tips, advice and solutions for business owners wanting to grow or improve their business
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?... read more
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.... 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
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.... 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
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 maximizing their banking relationship.... read more
The majority of risks in business can be predicted and quantified as part of an assessment of the business and how/where it operates. For most businesses however, stopping to undertake this type of assessment is rare - let alone implementing mitigation plans.... read more
Some would say that the hard work has been done, but you can't take your eye off the game at this crucial time - as it could blow up in your face and cost you a lot.... 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
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
The sale of a business is typically an emotive situation for the business owner…… and in the majority of cases, something that they are very unfamiliar with. So if you are thinking of selling your business, then consider the following 6 ingredients for a good business sale experience.... read more
For those who have borrowed money, you would be aware that financiers are always looking for a primary exit (repayment) source – normally via the repayment from business operations AS WELL AS a secondary exit just in case everything turns sour.
Most people get the simple fact that if they default on the loan, the financier will look to seize the security to get their money back, but…. there is a lot more to learn about this.... read more
With countless finance products in the market - which one should I take? This is an FAQ from most businesses at some point, so this simple shopping list should take some pain out of the process.
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.... read more
All too often this is the catch cry after a major incident.....a show stopping incident.....a business crippling incident…... read more
Debt comes in two forms - Good and Bad. Successful businesses understand the difference and actively manage their position.
Over the years I have seen many businesses struggle (and some crumble) under the burden of debt - with the debt load literally hanging over the business like a tree branch waiting to fall in a strong wind. Using a simple test before taking on debt will assist you in avoiding this risk.... read more
As with most things in life - learn the lessons of those who have gone before you.
Over my years working with businesses and lending money, I have seen a number of simple mistakes that have cost people a lot of money. To save you the cost of these, I have jotted down 5 of the most common mistakes that I have seen, along with simple yet effective suggestions to avoid them.... read more