For some industries, competition is so fierce that price increases are simply out of the question. With dwindling profits, the fight to keep the business open can feel like an endless battle. But there is hope because price and margin are not the same thing. In this piece, let’s explore the difference of price versus…
Read MoreIs discounting prices really the answer?
When business is slow, it’s tempting to consider discounting prices to generate sales and improve cashflow. This strategy may be appropriate if you wish to: Reduce overall stock levels Remove slow moving stock to make room for more popular lines However, many business owners discount prices in the belief it will generate sales and improve…
Read MoreThe Power of ONE in Your Business
It can be easy to overlook the difference small changes can make to your business. In fact, even a 1% change in your expenses or the value of your sales can have a big impact on the bottom line of your business. Here are some examples of the power of one in your business. Increase…
Read MoreCustomer Retention – Keep your customers coming back for more
You spend a lot of time, money and effort attracting new clients to your business so it makes sense to keep them. Customer retention is easier and more cost effective than finding new ones. Not only can it boost sales, but if you build a culture of good customer service within your business, the reputation…
Read MoreAligning Staff for Growth
Are you making the most of your staff? The greatest assets of any business are the people you work with – but only if they are performing consistently and well. Aligning staff for growth means taking your business to the next level. Sharing your business plans and goals with your employees can be extremely advantageous….
Read MoreAccountability – Getting It Done
Everyone has a “To Do” list of time consuming or unpleasant activities that are postponed day after day, and often week after week. It could be a thorough inside-and-out clean of your car or tidying up that renegade area of your home. You can always find an excuse not to do it. But when it…
Read More7 Tips to Improve your Business Cashflow
When cashflow is a problem, your business is in peril. It means you are constantly struggling to pay your staff and suppliers because you are waiting for your customers to pay you. Businesses die and owners become distressed when there are cashflow problems. But with a little work and planning, you can take control of…
Read MoreHow To Pick Up A World-Class Business Education For Under $100
If you think education is expensive, try ignorance. – Derek Bok Finding the time to expand your educational horizons as a business person is no easy task. When you’re caught up in the turmoil of daily business life, carving out time to add to your knowledge and skill sets is often very far down the…
Read More4 Quick Ways to Master Marketing as a Small Business Owner
Marketing can be something of a bugbear for entrepreneurs already struggling with keeping a million and one other plates spinning in the air. It’s not always easy being able to see the long-term value that effective marketing can really make to a business when your time is consumed with day-to-day firefighting and project management. The…
Read More4 Keys to Creating a Winning Culture
No matter what size outfit you’re leading, businesses ultimately succeed or fail on the strengths and weaknesses of their internal cultures. While companies that fall short in this respect can occasionally knock out stellar results for a limited time, the hallmark of all long-term success stories is the presence of a carefully created culture that…
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