There are warnings out there in the general economy about an on-coming recession. Thoughts turning toward dropping values, and other worries. That may be the case, for some, but there is also so much that is good, really good, just now. Many business owners are finding trading conditions, investment opportunities, and availability of finance better than they have experienced in […]
Pay attention. Investigate every change affecting the financial stability of your business.
Don’t assume anything. Always challenge assumptions. Just because it has run smoothly for the past few years, don’t assume it will always run smoothly. Good customers can hit hard times, and your invoices can slip down a pile of accumulating debts. Diligent employees can lose their concentration, once-dependable suppliers […]
The meaning behind The Numbers strips bare the facts on implementation within your business.
Your profit number is the result of the activity behind that number. If you want to improve the profit number, look closely at all the activities that impact on sales, margins, overheads.
Successful business owners are passionate about “The Numbers”. But, the funny thing about the numbers is that they […]
Successful business owners are passionate about “The Numbers”. But, the funny thing about the numbers is that they must be accurate and up-to-date, otherwise they are of no value.
The first building block of accurate financial data is your bookkeeping records. Within your business the workflow process and data entry rules must be designed to consistently capture all the transaction information, […]
Success can be dangerous, especially when that business success is dramatic. It can lull you into a false sense of security, even a degree of complacency. That is unwise because trading risks are ever-present. A business owner must always be vigilant, ready to act.
Decision-making is especially important when considering a new capital investment. For most private businesses, capital investment will […]
If you want to grow?much faster?than your competitors you need to satisfy your customer’s value system.
Companies that scored high on four or more elements had recent?revenue growth four times greater?than that of companies with only one high score (on the NPS system for measuring customer satisfaction).
Source: The Elements of Value. HRB September 2016.
It seems self-evident that satisfied customers will buy […]