Posts Tagged "business goals"

Give Your Business A Boost For The New Year

Posted by on Dec 23, 2015 in Blog

Give Your Business A Boost For The New Year

The holiday period and the dawning of a new year is a time of reflection for many of us. Whether it’s enjoying downtime with family or working on keeping your new year’s resolutions, the start of a new year is a great opportunity to examine what’s working for you and what isn’t. It’s also the perfect time to do the same for your business. When you’re knee-deep in running a business, it’s easy to get stuck in the daily grind. Before you know it, you look up and five years have passed, and not much has changed. You’re still going in every day and doing the work, but profits aren’t increasing. Perhaps you’re even losing money. Each stage of business comes with its unique challenges. Even when your business grows, costs can increase along with revenue, making little real headway. Along with that, things can change in a heartbeat. You might not be having problems paying the bills right now, but you never know when your market may drastically change. When looking to increase revenue, the first thing many business owners jump to is ‘work harder’ or ‘spend even more on marketing’. It’s a common reaction, but if that’s...

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Lessons From Koko Black

Posted by on Dec 2, 2015 in Blog

Lessons From Koko Black

News earlier this month that deliciously deluxe chocolate retailer, Koko Black had gone into voluntary administration was a little bit disconcerting. What if we end up with a deficit of really decent chocolate?! More than that, however, it can be a little scary when a well-known and successful business goes belly up. We can’t help but think about our own small business and wonder how we’ll survive if someone like Koko Black can’t. There are some valuable lessons in this occurrence, however. First and foremost, it’s important to stop the catastrophising and dramatics and realise that Koko Black and their administrators are doing what they can to keep going. Koko Black made some judgemental errors in the past and now they are trying to rectify them. It’s easy to throw your hands up and give up. It’s more beneficial to learn from failures, to recognise what has gone wrong, face up to it and do something about it. Shiny objects – and not decadent chocolate! – appears to be their downfall. In statements made to the media, they explicitly stated that “The business expanded very rapidly and undertook a series of major projects over the past 18 months. In...

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Some Of Your Most Productive Work Is Not Billable

Posted by on Sep 9, 2015 in Blog

Some Of Your Most Productive Work Is Not Billable

As your business grows, know that some of the most important work you can do is not directly billable. Although it can’t be invoiced, it can still be time well spent if it results in more business, smoother operations and some hard earned time off too. Too many business owners let certain tasks slide as they don’t appear to affect the bottom line, but it is worth looking closer at some business activities, and considering if now is the right time to tackle them. Contact Previous Clients Are there customers you haven’t heard from for a while? Check in and see if there are services you can provide, or give them a special offer to get back on their radar. Dream Up a Freebie Everyone likes a good deal, and a give-away is irresistible. It is also the perfect way to get new clients to try your goods or services, and gain loyalty from existing clients. Focusing on how you can help, rather on how you can sell, is the best way to boost any business. Be Present Online There is an inordinate amount of business taking place online, and keeping your website up to date, blogging and being active...

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Here’s Why A Deadline Is So Important

Posted by on May 27, 2015 in Blog

Here’s Why A Deadline Is So Important

A common misconception among the general public is the thought that when you own your own business, you are “the boss” and free to set your business hours as you like and only work when it pleases you. The ability to control things such as your working hours is one of the chief incentives that tempt many creative types to go into business for themselves. When you are working for yourself, it’s true that you are no longer an employee that receives some sort of warning from a manager for showing up to work a few minutes late. But, you also don’t have as much freedom and flexibility as you might wish when it comes to setting your working hours. When you open your own business, it’s important to remember that even if you hire a staff to take care of sales and customer service, you will still have clients and customers who will have a set time for when they expect to receive your product or service. You will need to either produce the service yourself, or oversee operations to ensure that these products and services are produced and delivered before your customer’s due date. Creating and delivering...

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Do This Before Starting Your Own Business

Posted by on Jan 28, 2015 in Blog

Do This Before Starting Your Own Business

It takes more than a single great idea, or even several, to start your own viable business that earns sustainable profits. You can set yourself up for success by taking these steps before you open your doors to the public. Planning, Research and Development Once you have a business concept, it’s time to research your ideas and ensure that they are viable. As you go through the planning and development phase of your idea, you should research and find the answers to several questions, including the following: Is there a need for the product or service that you wish to offer the public What segment of the market will you target? Which businesses are your direct competitors, and how can you differentiate yourself from them? Do you have the ability to obtain the financial backing to get business operations started? As part of your planning stage, you should also look at outside research into the industry and market you wish to enter. Government journals regarding statistics, publications from associations in your target industry, and other reports that relate to your market and target audience are all sources of valuable information when you are formulating your plans. Put it in...

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