Phil McConnell

8 Tips to Re-launch your Business onto a Sustainable Growth Path

Phil McConnell — Wed, 01 May 2013 11:00:10 +0000

Economic downturns, customers going into receivership owing you money, employees leaving and taking customers with them – all these can put your personal and business skills or abilities to the test. Surviving in hard times, especially after a succession of hard knocks requires the focus and skills to re-build or re-launch your business. Here are 8 tips for business owner managers to get back onto a sustainable growth path.

9 Questions to Ask Yourself before Hiring Your First Employees into Your Growth Business

Phil McConnell — Fri, 12 Apr 2013 11:24:43 +0000

You have started your business, everything is going very well, and you now need help to continue to grow and are thinking of hiring your first employees. Great, but stop to ask yourself these questions before rushing in. Making the decision to hire your first employees, is not just a financial commitment, it will help grow your business, so hire with your eyes open. If anything in this blog strikes a nerve or resonates with your own experience, feel free to make a comment below or call Phil on 07720 397040 or email him.

10 Common Mistakes Most Business Owners Make

Phil McConnell — Tue, 12 Mar 2013 16:57:22 +0000

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. Successful businesses understand that happy customers and employees have a direct impact on the bottom line. Since most owner managers take on many roles they are prone to make mistakes, which can threaten the business’ long-term survival. Here are 10 of the most common mistakes.

Are owner managers themselves hindering the growth of their business?

Phil McConnell — Tue, 19 Feb 2013 15:33:47 +0000

I have been doing some ‘research’ on how SME owner manager businesses may have different problems when it comes to growth. Initially the idea seems just wrong as each type of business is different in both current size and potential capacity for growth.

My Business is in Trouble – How can it be rescued ?

Phil McConnell — Mon, 28 Jan 2013 13:21:38 +0000

If your business shows signs of getting into trouble, for example difficulties finding cash to pay suppliers, or constantly up against borrowing limits - there are many ways to bring it back on track. If you act quickly and follow the right advice, you can maximise your chances of rescuing your business before it becomes critical. Before you can make major changes to your business, you need to know where the problems are. Look at your business plan and accounts. Where does reality not match up to what you anticipated? How long has the issue existed? Is it a temporary problem or something more longstanding?

Business Start-ups – it is never too early to plan your exit strategy

Phil McConnell — Thu, 10 Jan 2013 13:20:16 +0000

If you're setting up a new business you will probably have a clear view of what you want to achieve from it. In order to maximise the ‘life time’ value you get from this new business it is essential to start to consider how you may exit or leave it at a later date. By carefully planning your exit strategy early you can shape your business into the ideal position for your chosen exit option. Before committing to any important decision it is vital to seek advice. CMC Partners have put together a number of case studies showing how we helped business owners to grow, and plan exit strategies from the earliest phase – and ultimately prosper.

How can peer-to-peer lending help business owners?

Phil McConnell — Thu, 03 Jan 2013 09:49:50 +0000

Peer to peer lending, or social lending, sites allow you to lend you money directly to people looking to borrow, and get a higher rate of interest than you'd get from your bank. But they also come with greater risk and lower protection. So as a business owner these may give you an opportunity to get access to alternative forms of finance and better interest rates on investments in a business area you understand.

3 Business Survival and Growth Lessons for 2013 from Charles Darwin

Phil McConnell — Mon, 03 Dec 2012 16:02:32 +0000

Charles Darwin first published his “On the Origin of Species” ground breaking scientific book in 1859. When first published, it caused a considerable amount of controversy despite being a masterpiece of skilled observation, elegant reasoning and sound logic. Darwin’s findings changed the world of biology and natural science forever.

As business owners we all can learn something from his observations to survive and prosper in 2013, by fighting, specialising and adapting.

5 mistakes to avoid when you want to sell your business for a great price

Phil McConnell — Fri, 09 Nov 2012 11:26:47 +0000

Business exit strategy planning or selling your business outright is one of the most crucial elements of a company’s life cycle. If not planned correctly the negative financial impact for the company and individuals involved can be significant, not least in financial terms. So what are the common mistakes an owner should avoid making?

Feeling like that Rabbit in the Headlights?

Phil McConnell — Mon, 29 Oct 2012 10:26:23 +0000

Despite what the GDP numbers say, when discussing this with owners of real businesses, the announcement changes very little indeed. Some of the issues that owners are facing, and will continue to face for at least the next 12 or 18 months, include: (see full article. ) Business owners need to understand what is wrong with their business however they often do not have the analytical or diagnostic skills to identify them. They need help that delivers real and sustainable results. In fact they may need some form of help in different parts of their business. For example mentoring for some directors and employees; or the introduction of new techniques for the sales team; or new financial and operational reporting systems.