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Don't Be Everything to Everyone

Tuesday, December 13, 2011

In order to thrive it is not enough to survive but grow. But a growth strategy doesn't necessarily have to be a high risk strategy. Too many business owners embark on an unnecessarily dangerous journey by trying to be everything to everyone.

A highly esteemed business professor at Harvard by the name of Michael Porter expressed the view that there are only two ways a business can gain a competitive advantage. Read More

How To Get Paid Straight Away

Thursday, November 10, 2011

Most businesses function in a give and take fashion - while you may be providing a service or product, you are also needing to pay someone else to supply a service or product to you.

The natural order of things would suggest that if you pay on time it would be a fair expectation that you would be given the same courtesy by your customers. Unfortunately getting paid on time, every time, is a rare luxury. But with a few simple strategies you can attempt to make it a more regular occurrence. Read More

Selling Your Business

Wednesday, October 12, 2011

When selling your business you need to be prepared for several things from the outset. Whatever the purpose of sale may be, there are some suitable guidelines to follow that will best prepare you as the seller for the reality of the sale itself. Read More

Paying on Time Pays Off

Wednesday, September 07, 2011

The downfall of many small businesses is debt racked up by not paying bills on time. To avoid becoming a fatality the general rule of thumb is to refrain from making unrealistic or impossible promises. You will find that your customers and vendors will follow suit, creating strong relationships that will keep your business afloat through rough times. Read More

Whittle Down Your Client List

Wednesday, September 07, 2011

Would you keep an employee who wasn't pulling their weight? Clients are the same, and let's face it, some clients are worth the investment of time and energy and others aren't. When a client relationship is difficult and you are constantly frustrated and seeing no returns, it's okay to let that client go. Read More

Handing Over the Family Business

Tuesday, July 12, 2011

According to the Small Business Administration in the USA, only a third of family-run businesses make it to the second generation. Although less comprehensive research is carried out in this part of the world, there is no evidence to suggest the number is materially different.  So what are the strategies to ensuring your business is one of those that survive? The key is succession planning. Read More