The management and leadership skill of a small business owner is often one area that is neglected in a small business. Taking the time out for personal and professionally development is equally as important as securing new business. Improving management and leadership skills is often a task that remains on the ‘to do list’. It [...]
Dragon’s Den is a television programme that is based on the concept of pitching a business idea to a group of successful entrepreneurs. The prize is combination of financial investment and mentoring/business support from an already successful ‘Dragon’. Choices of which ideas to support are usually based on having a sound business plan, the business [...]
The approach of the festive season has different affects on different people. There are people that are getting ready to slow down and hibernate, there are people who do not think that they have achieved enough throughout the year and are making themselves busy trying to catch-up; and there are people who have not noticed [...]
Most people will be familiar with the phrase ‘you reap what you sow’. Even though the phrase has biblical connotations it can be still be applied to many different scenarios. It can be easily applied to the task of gardening, used to encourage students to study, cooking and even to the world of business. The [...]
The tale of David and Goliath is a biblical tale with which most people are familiar. The story of David and Goliath centre’s on a shepherd boy confronting a giant named Goliath on a battle field armed with only a slingshot to defend himself. Against all odds and against adversity David manages to slay Goliath [...]
The key to gaining and keeping a competitive advantage or just staying in business is knowing how and where to effectively set prices without sacrificing the quantity and quality of the products. Companies that use the ABC methods of costing find it easier to set a competitive price. Activity Based Costing assigns resource costs based [...]
Every business needs to plan There is a common myth that associates planning with start-up businesses. This misconception often leads to existing businesses suffering from inertia, or fire fighting on a regular basis. There are a host of other reasons why existing businesses do not seek help. As a result they miss out on the [...]
Managing business performance is always a balancing act. That is an act in which certain cost formulas must be balanced in order to achieve optimum output and maximise the profitability of the business. A review of your company’s financial statements is not always the best way to acquire an accurate picture of how a business [...]
There are a variety of risks associated to running a business. Some are out of our control such as acts of God. Others are closer to home and come in the guise of new customers placing large orders. On one hand a new order may well bring the prospect of much needed cash injection. On [...]
The economic downturn has meant that words predictable or stable are rarely used in the same sentence as the word business any more. Likewise it is outmoded to think that companies can continue to operate without implementing or using budgeting and planning processes within their business and not miss unforeseen opportunities or fall victim to [...]
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