Many people assume businesses collapse because they are loss making. However, the reality is businesses go bust because they run out of Cash. Always remember “CASH IS KING” The primary purpose of a business is to attract, maximise and retain customers. Everything that contributes to this is an investment; anything which doesn’t is a cost. … Continue reading Tips for Business #4: How to successfully manage your cashflow – part 1
The problem for many business people is the sheer volume of numbers they receive from accountants and bookkeepers. As a business owner you need to know which numbers are important and what they reveal. In other words you need information, (and not data), presented in a way that makes sense for your business. There are a … Continue reading Tips for Business #3: How to make your accounts something you want to read!
There are three ways to increase turnover Increase your customer base Increase your prices Increase the frequency of when customers buy from you. If more than one of these takes place, then turnover growth is exponential. For example, if your business could achieve an increase of just 10% in customers, prices and frequency of purchase, … Continue reading Tips for Business #2: How to increase turnover
So many businesses fail to produce a plan (or budget) to enable them to assess whether they are on track, behind or even ahead of their objectives. It’s like a Yachtsman sailing an ocean without a map or compass. Christopher Columbus set out not knowing where he was going. When he got there he didn’t … Continue reading Tips for Business #1: Plan Ahead
There is a natural order for doing things, to produce the right results. A rifle can be fired before aiming, but to hit the target it is always best to aim first! So why is this often ignored in SME’s? If an SME has a business plan it often has been written for a third … Continue reading Ready, Fire Aim!
Having an allotment to keep my partner out of trouble and to provide me with home produce is only the beginning. What I ‘want’ is beetroot, parsnips, figs and strawberries but at the moment we don’t know whether the plot is going to allow this. We do know that figs will be a challenge in … Continue reading What does good look like?
We have just invested in an allotment. This is an extreme example of organising the garden and keeping the vegetables separate from the play area, barbequing etc but it will have other advantages – it will help drive some discipline. Time will get set aside for allotment maintenance and ‘harvesting’ will be planned rather than … Continue reading Tracking the right things at the right time
As the weather turns cold, the leaves have all fallen and there is water everywhere it feels like it is time to batten down the hatches, light a nice fire and wait for it all to go away. Every business has times when it feels like it doesn’t have as many customers as it would … Continue reading Have you kept your head above water?