Have you made your personal will? Probably; after all, it’s the right thing to do, isn’t it? So why do so few business owners do the same thing for their Company? You want your children to inherit your wealth without undue hassle. But how much thought have you given to who inherits your business; and […]
Over the next 10 years, the landscape of business ownership in this country (and across the globe) will begin to change dramatically. The unstoppable change has already begun as millions of baby boomer business owners begin to contend with retirement and the importance of exit planning. By definition ‘baby boomers’ are people born during the […]
I have been lucky to have been a director for businesses that grew and scaled to its full potential, moving from a 9 to 5 operation to one that was effectively 24 by 7. Also I have worked with business owners who have stumbled into this growth scenario, and paid a very expensive price because […]
As a business owner 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 […]
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 […]
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 […]
