Tag Archive for: Systems

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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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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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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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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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 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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Preparing Your Business for Sale: What You Need to Know

Business Sale Building Blocks

The prospect of selling a business, or at least positioning it so it can be sold, will be confronted by all business owners eventually. It may be for 20 years down the track (rare) or to sell now (more common), but the simple reality is that all businesses will have a change of ownership at some point.

The burning question for most owners is, “what do I have to do”?

Selling a business can be a relatively easy process, providing of course – you have a business which is worth buying (from a buyer’s perspective) and … Read More

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The Cost of Tolerance in Business: Understanding the Impact

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.

The two questions I pose are why…….and…..what is the cost?

In general terms, things are tolerated because of either a perceived lack of alternative or an inability to implement change. History shows me that there is always an alternative, albeit it may be painful, costly or difficult – but there is always a choice. The implementation of a … Read More

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More Fees Than Service: Uncovering Hidden Costs for Businesses

Ever noticed that some bill accounts are so complex that it takes a master’s degree to work them out? Put simply…..it’s an illusion to justify a larger cost and/or mask the value that is being charged. 

I call the language used in these accounts “bill speak“, so once you understand how to translate it – you will never be fooled again.

Regrettably the world of financial services, telco’s and some utility providers use bill speak to the extreme and appear to compete for the most individual fees for what is fundamentally a single service.

Recently I reviewed a … Read More

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