Advertising should be viewed as an investment that should generate a return, rather than a fixed cost. Many businesses spend ...
How can there be a profit if the year’s ended with no cash? It’s quite common for businesses to end the year with...
Depreciation is basically a reduction in the value of an asset over time. What this means for your business is that if you bu...
Depreciation is basically a reduction in the value of an asset over time. What this means for your business is that if you bu...
Being on good terms with suppliers could translate into special deals or preferential treatment. Your suppliers may also give...
Online distribution frees you geographically. Where you might have been selling your product or service locally, opening an o...
Once your business is up and running, it’s important not to rest on your laurels. Successful business owners are always...
While your tools, skills and reputation allow you to operate, it’s your staff who can often influence your trade busine...
Most small business owners start out with a good business idea but little concept of what it takes to manage and grow a busin...
There are any number of reasons why you, as a small business owner, might need professional advice. From facing a new phase o...
Before you go down the path of seeking capital from outside your business, identify any other ways of raising capital. For ex...
1. Build credibility quickly Why should people buy from a new business? Your first challenge is to overcome their doubts by b...
An asset ratio compares your assets to another part of your business. So, you could be comparing assets to revenue, profit, t...
As a small business owner, you’ll want to get positive returns on a limited marketing budget. It’s important to m...
Long-standing customers form the backbone of a strong, well-established business. Make it your mission to ensure that the vas...
The ideal promotion plan is one that results in clear steps you can put into action immediately. This means concentrating on ...
If you want to grow your business, you’ll need a strategic plan – which should include how you’ll find new ...
Two examples of this effective technique show you how you can set up your own focus groups. The concept of focus groups simpl...
Coming up with new ideas for your business is essential for growth. And it’s exciting when you’ve got a new produ...
A competitive advantage is something that you offer or have that the competitor does not. There must be some compelling reaso...
If you’re serious about getting the best value you can for your marketing budget, you’ll need to develop a market...
Choosing the best export target(s) for your business is critical because ‘getting it wrong’ can waste time, energ...
Questionnaires provide an excellent way of getting feedback from your customers because everyone is familiar with them and is...
You probably already have a coordinated marketing plan, set prices, and know what you’re doing. However, to create more...
Start-ups are at a disadvantage when it comes to their first sales forecast because, clearly, they don’t have any histo...
Whichever industry your business is in, cultural differences can have a direct impact on your profitability. If you try to un...
Is it time for your business to invest in some new equipment? And if so, is it a smarter business decision and more cost-effe...
Operating at a loss simply means you’re spending more money than you’re making. And while it’s not uncommon...
It’s easy to come up with a number of business ideas but to make sure your idea is viable and can be run at a profit, y...
It can be easy for your heart to rule your head when you find a business you want to buy. However, if you don’t do thor...
Whether you’re thinking of starting a new business, considering adding new products, opening a new branch, or increasin...
What exactly is profit in a business? This article shows you how to avoid three common profit mistakes that can seriously aff...
At some point in its lifetime, every small business suffers from cash flow problems. The trick is to think ahead and figure o...
Sales and profit are two very different things – as a business owner, you can find yourself without the cash to pay bil...
Franchising can be an excellent way of growing your business rapidly and earning a good return. It can also be a pathway for ...
It’s important to identify and monitor the key drivers of your small business to boost profitability and cash flow. Boo...
Gaining larger profits depends on accomplishing all the little things better – rather than making one huge change. You&...
Growing a business is one of the most fundamental goals for all small business owners. Successful businesses are those that a...
Finding money for the essential assets you’ll need to run your business efficiently can be a challenge. You’ll ne...
Profit margins are fundamental to business success and growth. How you choose to increase your margins so your business can a...
Growth has its risks but a well-designed strategy can deliver stability, security and long-term profits. When it comes to exp...
For many small businesses, the best way to improve profitability is to increase turnover, as there’s no limit to sales ...
Both cross-selling and upselling can be useful methods for increasing your business’s sales. But there are also genuine...
Your current business model is the way your business earns money. A change in your business model can bring substantially mor...
If you’re in retail, there’s money to be made online and it’s important your new business finds its place i...
Running a successful business is a juggling act between cash coming in and cash going out. If you’ve built up a cash re...
Cash flow – the lifeblood of any business. The aim of any business owner is to have more cash coming in than is going o...
Taxes – there’s no avoiding them. But there are ways to reduce the amount you have to pay so that your business i...
If your customers owe you money, the faster you’re able to obtain it using effective collection tactics, the better. Id...
Markets are dynamic and constantly evolving so no business can afford to stand still. No matter how excellent your products o...
If you’re looking impartially and unemotionally at the options ahead when starting your own business, you have to admit...
Putting a succession plan in place helps ensure the future stability of your business when you step aside or if unforeseen ev...
Planning for the succession of a business is an important and sometimes overlooked part of a business plan. It’s an ine...
The key to building value in your business is to plan the process in a systematic way, whether you’re aiming to grow yo...
More than just a book-keeper If you’re thinking that your accounting software is there just to look after your finances...
Accounting problems can have serious consequences for your business and are definitely worth avoiding. Here we outline six wa...
Why accountants are necessary Unless you’re an experienced accountant yourself, it’s always best to have an exper...
Wouldn’t you like to be able to reduce your time spent on administrative tasks so you could focus on increasing profits...
What’s ‘the cloud’? Think of it like this: instead of storing and accessing your data from your own compute...
When you’re deciding what you really need to manage the books in your small business, it’s important to focus on ...
For first-time exporters, finding success in overseas markets can be an avenue towards securing long-term, sustainable growth...
Accounting software is readily available at brick-and-mortar and online stores alike. As with any business decision, you&rsqu...
In today’s fast paced business world, technology has become as essential to success as a great idea. It’s a real ...
Your business plan is a management tool and is designed to suit the structure and needs of your particular business. There is...
Getting paid correctly and on time by customers can be a constant frustration for business owners. Communicating your terms i...
Are you planning on selling to customers in an overseas market? There are export channels galore to choose between – bu...
A SWOT analysis is used to help fine-tune your business strategy by examining internal and external factors that may help or ...
Anyone who has been through a major earthquake, flood, fire or other disaster can confirm that a lot more could have been don...
Like beauty, value is in the eye of the beholder. Your business is worth what the highest bidder thinks it is worth – u...
If you’re buying or selling a small business, it’s critical to know what the business is worth. The challenge is ...
Most business owners receive plenty of well-intentioned advice and ‘helpful opinion’ from family and friends. How...
Developing employee skills creates a situation where your company benefits from a more knowledgeable and capable employee, wh...
Below are some suggestions for unlocking funds without affecting your operational capacity. Keep in mind that you should alwa...
Cutting costs can be a quick and easy way to improve the profitability of your business. Introducing cost-control measures ca...
An effective export business plan lays the foundations for overseas success. Each piece of the plan should come together to c...
Planning for the succession of a business is an important and sometimes overlooked part of a business plan. It’s an ine...
The prices you charge for your products or services can have a dramatic effect on sales and profits. Your pricing strategy al...
When you are setting out and everything is moving so quickly, it’s easy to deviate from where you intend to be. If you ...
Successfully exiting a business is a dream for many owners. Follow these ten steps and you’ll be in great shape to make...
Whether you complete your business objectives in a year or 20 years from now, or you just feel like you need a change of scen...
It’s important to start organizing your business for sale as early as possible. Business owners often think about selli...
Putting a succession plan in place helps ensure the future stability of your business when you step aside or if unforeseen ev...
Knowing the value of your business is vital should an unexpected buyer come along, and the timing is right for you to sell. Y...
A succession plan is something every business owner needs to prepare for the inevitable – the day you’ll transfer...
Coming up with a new idea is exciting, and you probably want to jump straight in and make it happen. But before you invest to...
Here are some of the questions about starting a business that come up frequently. Q: I’m thinking about turning my hobb...
Document the positives in your business plan to persuade both yourself (the most important person) and stakeholders such as l...
1. Generate sales as quickly as possible Your first priority when you launch your business is to gain some traction in the ma...
How you price can have a dramatic effect on your sales, cash flow, and profit margins. Your pricing strategy will determine h...
So you have a great business idea and are convinced you can make it work, but you don’t have much capital to get your b...
1. Put together a strong advisory team Starting a business can be a lonely process and thinking you can do it all yourself is...
Getting your business up and running and making a profit is usually much more difficult than it sounds. This article focuses ...
Before you start a business, and perhaps leave a job, try working out if your idea will be worth the risk. If you’re co...
Before you start a business, you need to know exactly how much money you’ll need, and where it’s coming from. You...
An idea can be a business’s most valuable asset. Whether it’s a business name, an original product or a portfolio...
The break-even point is the point at which your company makes enough money to cover its costs. Past this point, the company s...
Many service providers simply pitch their price somewhere near the middle of the prevailing market rate. But it makes sense t...
There are a number of ways to arrive at the price to charge customers. Regardless of which method you use for pricing your pr...
A successful business is one that’s built around a solid business plan. It’s the architecture you base your busin...
Many people underestimate start-up costs and start their business on the back foot financially. This can mean a long crawl up...
These days your personal data is everywhere, and that information is valuable to marketers, hackers and everyone in between. ...