Ratio analysis is a process that incorporates a series of simple mathematical functions and applies them to financial statements or projections to determine fiscal performance and conditions of a business enterprise. They become even more valuable when you compare those ratios over time, from one period to the next. The primary use, however, should be […]
People often stumble over the question of their ‘purpose’ in life, but in business there can be no question. There is absolutely no room for confusion on this issue. The purpose of any business is precisely this: to serve a well-satisfied customer. Sure, you want to make a profit. Of course, you want to serve […]
Some businesses are in greater demand than others. This means they’ll sell quickly and the vendor will receive a good price for the sale. First we need to look at those things that make a business marketable; not many businesses will have all these characteristics but the more a business has the greater will be […]
With a good understanding of the competition facing your business you’ll be able to spot and exploit opportunities as they develop. Ignoring the competition or letting success lull you into a false sense of security could mean nasty surprises further down the road. The following points can help you start developing a strategy: Identify your […]
Going green’ may sound a little gimmicky but it has some real benefits for SME businesses. Operating a green business is not only good for the environment but good for your business’ bottom line because conserving resources and cutting down on waste ultimately means money savings for the business. For the imaginative entrepreneur the move […]
Every person in every organisation is well aware that by adopting even the most basic time management techniques they can become more effective, and hence more productive. Even if they don’t actually do it. Businesses have to be able to bill accurately and profitably, and missing an important external deadline (such as a tax return […]
Running a business isn’t something you can usually do by yourself. One way or another, other people make their contributions to your enterprise. They could be members of your team, suppliers, co-directors or even family members who support you – and they all deserve some personal recognition from you for what they do. However, not […]
Face it: Most companies can’t compete on price. And the good news is they don’t have to. This is a very interesting article – all credit to The Wall Street Journal… By now, we’re all aware of the slash-your-prices scenario many companies take as a given these days: Your customers demand more and have online […]
Research in the UK shows that sales people and business executives who play golf experience an 85% better chance of securing a business deal on the golf course than through conventional methods of marketing. Why do I mention this? Well there is no doubt that it costs less to retain and sell to an existing […]
There is a lot of talk at the moment that relationship selling is dead. Even the Harvard Business Review has come out to state – “selling is not about relationships”. To this I say “RUBBISH!” It is particularly not true in B2B sales. Sure, you will find your clients and prospects may no longer be […]