It’s been said that a business partnership is a lot like a marriage, and the comparison holds true when things go awry: the end of a partnership is a lot like divorce. Lawyers will be involved and assets will need to be divided. However, a separation need not be overly dramatic or unnecessarily painful. These tips can help make separation easier – and more amicable – should your business partnership… Read more
Ever dreamed of starting a family business? Investing in a franchise opportunity with friends? Businesses owned and operated by families can have incredible staying power. Volkswagen, Samsung, and Nike – all family-owned companies – are among the world’s most successful, leading brands. It can be fun and rewarding to work with family and friends. But before you hire the people you care about most, it’s wise to consider the pros… Read more
Times were tough, so John decided he had to drop his prices below his competitors. The results seemed gratifying. Business picked up quickly and when John looked round his shop he could see his sales staff were always busy with customers. Then came the call from his accountant. “Aren’t the sales figures great?” said John, getting his bit in first. ‘Yes”, said the accountant, “impressive sales indeed. That’s the good… Read more
One of the most often cited reasons for not embracing innovation is that it is too risky. Prototyping or testing often comes with a high cost. Combined with the cost of the time spent, this can all be rather high for an unknown outcome. There is no way to eliminate the risk in innovation, but there are ways to reduce it. It’s easy to understand the dilemma. A business owner… Read more
Many small business owners assume that cyber attacks only happen to big companies, banks or governments. But the truth is, limited knowledge of digital security and lack of defences make small businesses particularly vulnerable to attack. Research shows that 71% of all cyber attacks happen to businesses with less than 100 employees – and yet many CEOs have yet to invest in a formal defense plan. With cyber attack insurance… Read more
Time management skills are increasingly important in a world where people seem to rush headlong from one crisis to another. Add in the effect of social media and addictive computer games that can be accessed from anywhere at any time and it’s no wonder that some people struggle to fit everything into their days. So what can be done about it? How about invoking D to the Power of Four?… Read more
A coordinated marketing plan enables you to increase your chances of success by strongly positioning your business in the marketplace. It helps you define your market, target customers and competition. Your plan should illustrate that you understand who your customers are, and what they want. It should also outline how you intend to boost awareness of your brand. It’s also important to outline what methods you’re going to use –… Read more
At some point in its lifetime, every small business suffers from cash flow problems. The trick is to think ahead and figure out when these problems are going to arise so you don’t have to unexpectedly postpone a purchase or hurriedly seek out additional finance. This is where cash flow forecasts come in. Download our FREE Cashflow Kit including Cashflow Forecast Calculator today! Name* Name Email* CAPTCHAPhoneThis field is for… Read more
It’s easy to believe that the key skill in giving a presentation is making sure you say the right thing, but studies have shown that 55% of your message comes from non-verbal cues and people remember more if they see something than if they just hear it. This article looks at the eight areas you need to focus on to make the most of that 55%. Your Natural Style Making… Read more
While most small businesses spend a great deal of time and effort in finding the right employees, they often fail to capitalise on their newly hired talent by ceding the onboarding process to HR or neglecting their responsibility entirely. From long waits for workspace, equipment, or training to an overly negative recitation of ‘don’t do these things or you will be fired,’ employers consistently miss the opportunity to inspire new contributors… Read more
Have you had a potential investor turn away from your business for seemingly no reason? Investors don’t usually turn away from good opportunities so was there something that made your company or business plan unappealing? Here are six reason businesses makes themselves unattractive to investors. 1. There’s No Proof of Concept You can find good ideas everywhere but only a few of those ideas will actually end up profitable for everyone… Read more
A coordinated marketing plan enables you to increase your chances of success by strongly positioning your business in the marketplace. It helps you define your market, target customers and competition. Your plan should illustrate that you understand who your customers are, and what they want. It should also outline how you intend to boost awareness of your brand. It’s also important to outline what methods you’re going to use –… Read more
Freelancers in all industries deal with the same problems due to the nature of their work. Typically, freelancers are solo work-from-home contractors that manage every aspect of their business. If you’re thinking of dropping your career as an employee to begin freelancing, consider the following obstacles you will need to navigate. Unfortunately, problems beget more problems, and a shaky foundation quickly leads to a crumbly business, and many regrets about… Read more
The same advice for building a healthy investment portfolio applies to your business: diversifying will lower risk and increase growth. Adding a recurring revenue stream (or two, or three!) can provide a predictable, ongoing source of income which will improve the accuracy of your projections, increase profits, and provide a buffer for any unexpected sales dips. Here are four simple ways to start earning recurring revenue for your small business.… Read more
These days your personal data is everywhere, and that information is valuable to marketers, hackers and everyone in between. If you want to prevent the unauthorized use of your personal information, you need to take a proactive approach to protecting yourself and your identity. You can no longer afford to be blasé about your data security – if you are not taking proactive measures to prevent the use of your… Read more
In today’s fast-paced world, everyone wants to be more productive. Fortunately, there is an ever-increasing number of tools, many of them available online and across multiple devices, that promise to help us achieve our goals. The challenge then becomes how to know not just which tools will live up to their promise but which tools are right for our business. Choosing the best productivity tools depends on a number of factors,… Read more
A coordinated marketing plan enables you to increase your chances of success by strongly positioning your business in the marketplace. It helps you define your market, target customers and competition. Your plan should illustrate that you understand who your customers are, and what they want. It should also outline how you intend to boost awareness of your brand. It’s also important to outline what methods you’re going to use –… Read more
Many entrepreneurs believe that hard work and dogged determination are all it takes to build and sustain a successful business. But when you consider the pressures of running a company, it seems wise to add effective stress-management to the list. Left unchecked, stress can erode your passion and undermine performance – not to mention, take a serious toll on your health. Research compiled by Office Vibe reveals that over 70%… Read more
Whether you complete your business objectives in a year or 20 years from now, or you just feel like you need a change of scenery, leaving a company you built with your own two hands is never easy. You’ve got to consider your employees’ futures and commitments to financial partners – not to mention your own business legacy. Needless to say, you’ll also want to make sure you exit with… Read more
It can be a challenge for new business owners to find a bank that will approve them for even a small business loan. Most will see a young company as too high a risk to qualify for corporate lending. A credit card can serve as a short term solution for small scale financing, offering entrepreneurs a “foot in the door” with a lender. Think of it as a chance to… Read more