As an owner manager you have built up a good business and have been assuming that your children (when old enough) will eventually take over and continue to grow the business. But the penny will drop that your children will not be doing this for a variety of reasons, including some great reasons such as […]
Business gurus always say that every business requires a contingency plan that anticipates all life’s little uncertainties. All too often, the listener nods sagely… But if such advice is being properly followed by most, how come so many businesses fall by the wayside when the going gets tough? The answer, sadly, is that many business […]
Most small companies have plans to grow their business and increase sales and profits. However, there are several growth options that could be followed. The method a company uses to expand its business is largely driven by its financial situation, the competition and even government regulation. Some common growth strategies in business include market penetration, […]
When a small business goes through a period of rapid growth, it can be feel like it is out of control and unless handled well can lead to serious problems. It can deter you from taking your business to the next level. The five cornerstones to manage when growing your business are: Money Financing the […]
Every owner manager has to find ways to improve how work is done and at the same time look for ways to improve the employee and customer experience but they often make the same common mistakes. Successful businesses understand that happy customers and employees have a direct impact on the bottom line. Since most owner […]
Entrepreneurs typically think of themselves as starters or creators. It’s in their blood to take an idea and turn it into something really exciting. This is great; it’s what makes entrepreneurs such a special breed. However, this desire to be at the forefront often takes the focus away from the end, which in a business […]
Any business owner operating a small business, knows how time consuming, difficult and stressful it can be to grow in changing times. With 2018 set to be another challenging year for small businesses, managing volatility and facing challenges will be a skill all business leaders need to nurture. The comforting aspect is you’re not alone. Other […]
What is involved in ‘scaling your business’? It is probably best to answer that question first. For a business it is the model or system whose characteristics are that it is able to cope and perform under an increased or expanding workload. Or, a scalable business is one that can maintain or improve profit margins […]
