Tools for Monitoring Your Business Performance

Thursday, April 19, 2012

Key Performance Indicators have long been regarded as vital for business success. But with so many to choose from, which ones are best for your business?

Key Performance Indicators (or KPI's) are specific measurements of various parts of your business activity. They are used to check performance against targets or as benchmarks or to monitor trends.  Read More

The Cash Flow Tsunami — How to Recognise Early Warning Signs

Tuesday, February 14, 2012

A successful business is one that is well managed. Being adaptable and flexible before major fluctuations occur can greatly assist you in hard times.

Recognising problems before they arise can minimise the fall out and pave the way to a faster recovery. Learning to identify potential cash flow problems is critical to your success as a business as without adequate cash flow your business may be on its way to becoming a statistic.  Read More

Are You Driving Your Business Or Is It Driving You?

Wednesday, January 18, 2012

The New Year is always a good time for reflection. We touched on this point in last month's newsletter. It's often a time when we look back and wonder where the time went.

The question that often comes to the mind of the business owner centres on what has really been accomplished over the year. Read More

Planning to Improve Your Profitability

Wednesday, January 18, 2012

We often say "what you measure you can manage" and "what gets managed gets done". When it comes to achieving greater profitability, truer words cannot be found. The fourth way of growing a business, which is improving the effectiveness of the things that you do, is a vital part of assisting you to better manage the results.
We often talk about the importance of focusing your profit improvement strategies into some key areas. They are to increase: Read More

Draw a Line in the Sand

Tuesday, December 13, 2011

Often our biggest constraint in business is ourselves. We try to personally take on the expensive tasks that would normally need to be outsourced so that we can preserve our cash resources for other needs within the business.

Although there is certain logic to this, the downside is that it means we have created our own artificial ceiling. We have set a limit on our business' ability to succeed that is significantly less than what could be achieved. Read More

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