The start of a new year naturally brings with it new hopes and aspirations for the coming year. The cycle of change also brings with it an opportunity to reflect on the past successes of your business and how well it has performed in the last year and what improvements can be made in the [...]
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 old adage of “looking after the pennies and the pounds will take care of themselves” certainly does ring true in business. It may seem miserly to count the pennies, but they all add up to pounds – and pounds certainly do make a difference to bank accounts. An unbelievable amount of money is lost [...]
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 [...]
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 opportunity [...]
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 is [...]
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 [...]
