When you start your business, you’ll want to minimize costs any way you can. Every dollar you can save while starting up is one more dollar you won’t have to finance. Commonly known as bootstrapping, you’re looking to save wherever possible by eliminating any unnecessary overheads, needless expenses and nonessential assets. Look for alternative ways… Read More
Gaining larger profits depends on accomplishing all the little things better – rather than making one huge change. You’ll need to focus on every little detail to reduce your expenses and increase your sales turnover over the coming 90 days. Aspire to get constant improvement A simple planning cycle greatly enhances your ability to make… Read More
If you’re serious about getting the best value you can for your marketing budget, you’ll need to develop a marketing plan. Below we outline eight simple steps for making your marketing efforts more effective. 1. Know your customers Firstly, you need to identify your target market. You probably have an idea of who buys from… Read More
Watching your business grow is exciting. But to meet the demands of increased growth, it’s likely that you’ll need to increase production capacity as well. It might mean that you need to take on more staff, update your equipment or expand your facilities. Most of the time, increasing your production capacity will mean an outlay… Read More
It’s great when you get that ‘light bulb’ moment and are inspired to create a new product or service. Unfortunately, inspiration doesn’t always strike when you need it to, such as when you’re thinking of ways to invigorate your business with a new idea, or flat out trying to run your business. To come up… Read More
By accessing the right automation tools for your business, you’ll be able to spread your small business content across multiple platforms as and when you need to. There are many tools that can improve your digital presence, simply by leveraging social media, email and web services. With an effective marketing automation package, you can: Motivate… Read More
Many successful businesses that grow are those that look for ways to expand into a new market. It’s important to weigh up the cost of entering a new market (especially if it’s an export market) with the potential returns. The easiest potential for growth is to take the successful business model you have developed and… Read More
There are generally five core strategies to increase your profit in your business, each having a multiplier effect. Rather than trying to double your sales which is often difficult to do in a short period of time, you’re better to try and increase each of these five aspects by 10% for cumulative results. 1. Increase… Read More
There are many reasons why small businesses experience sudden cash flow crunches. Identify the reason for your cash crisis and move quickly to solve the problem: External factors have caused a sudden drop in demand At times there will be things that happen locally or globally that impact on what customers buy which you have… Read More
Before you go down the path of seeking capital from outside your business, identify any other ways of raising capital. For example, do you have any savings (either in the business or you personally) that you could use? If you have unused assets in the business (machinery that’s not used very often, buildings or excess… Read More