Tag Archive for: Business Viability

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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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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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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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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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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