Referrals are one of the easiest and most cost-effective ways to win new business. Strong networks create steady opportunities, and the return on investment can be enormous. The key is to be intentional and consistent about building and nurturing those networks. Five ways to maximise referrals from your networks: 1. Know the lifetime value of […]
10
Nov
Nov
Every boss is different, every company is unique and every team requires a different approach to management. However, there are some foundational guidelines that will help you to provide real leadership in tough times.
21
Nov
Nov
It’s easy to claim your free Google business listing. Check your business information is correct, add some photos and ask customers to review you. Give your business more chance of being found online.
17
Oct
Oct
Have you ever done the maths on your average spend per customer? That is, how much your customers spend (on average) each time they buy from you. Simply take your total sales for any period (e.g. 12 months) and divide this by the total number of transactions or invoices for that period. When you know […]
13
Aug
Aug
The endless pursuit of new customers to grow a business often distracts us from looking after our existing ones. This pursuit can unintentionally cause a downward spiral. Spending more on marketing, while neglecting existing customers (and their sales needs), can put pressure on pricing. This can lead to a reduction in prices or a change […]
27
Jun
Jun
Some of us love a good failure story. While victories are inspiring, true tales of messing up are often more relatable, but most importantly, indispensable learning opportunities. If we can shift our perspective to see our flops as valuable progress, each washout can become a win. Eight ways to help failure breed success: 1. Change […]
16
Apr
Apr
If you’re going to grow your company in the right way, pinning down your goals and having a clear vision for the business from the outset is vital. You may want to increase profits and create an income that supports your lifestyle, or you are looking to increase market share and aim for hypergrowth. You […]
02
Apr
Apr
Gains can always be made at the margins. These small incremental gains over a month or a year can have a significant impact on your bottom line. This could be additional profit you make from a single project, a single product or service, a particular geographic area, or a certain type of customer. Drilling down into […]
05
Mar
Mar
Knowing your numbers is vital to business success. The Balance Sheet is arguably the most important report, as it measures whether your business’s worth is increasing or decreasing. It illustrates the overall financial health of your business; whether it is funded appropriately, if there’s enough cash to pay the bills, and what the owners would have left […]
06
Feb
Feb
Understanding your numbers is critical if you want to control your business (instead of your business controlling you). Financial reports indicate whether your business is in good or poor health and can diagnose weaknesses before something becomes terminal. Let’s break down your Profit and Loss Report… Your Profit and Loss Report measures the overall efficiency […]