Profit is not an accident
Would you rather have a slither of the large pie, or the entire small pie? Are you likely to hit more targets if you rapidly fire a machine gun randomly, or take precise shots with a sniper gun aimed at a target? There is a misconception that you will be more successful in business if you service everyone and anyone. …
It is often said “You get what you pay for” with the perception of quality of product being linked to the price you pay. More often than not, this turns out to be true, cementing the belief that the amount you are willing to pay does reflect the quality of the product or service you receive. When setting prices, business …
I was asked recently for my thoughts on how to plan for unexpected events in business such as when key staff members resign, take annual leave or are injured and unable to work for an extended period of time. I share my thoughts here for consideration. A business can reduce its reliance on people by concentrating on defining the structure …
As business owners, we all are looking for simple ways to increase the profits within our business. The common approach is to invest time and money in to marketing to attract new customers and make more sales. However, what is often overlooked, is how to generate additional sales revenue from existing customers. Afterall, an existing customer made a decision to …
We live in a time when we are surrounded by numerous forms of technologies to make our lives easier. Technological advancement has impacted on how businesses function and owners are constantly faced with pressures to keep up to date with new technologies to streamline, automate, create a digital presence, and cut costs. Take, for example, the mobile phone. When I …
Network marketing, otherwise referred to as Multi-Level Marketing, is commonly regarded as a sham, and frowned upon by many traditional business owners. To clarify, for those not aware, network marketing works where a consultant earns income as a commission of their sales. In addition, they are also entitled to a percentage of the sales made by those consultants who they …
Role Description: Work Hours – 5 to 9 Holidays – One every 4 years Reports to – All clients, prospective clients, employees, investors, suppliers and the community Salary – non-existent To be successful in this role you will possess a passion for your idea, ensuring your relentless persistence in seeing it succeed. You will be committed to continuous learning, …
Regardless of what stage of business you are in, cash flow, or the lack thereof will impact on your ability to operate your business. In my experience, poor cashflow creates pressure and stress for a business owner. Their focus and time is drawn away from the core operations of their business as they worry how wages will be paid, suppliers …
I recently met with a client who is establishing a service-based business. She is developing her service packages and choosing the prices to assign to each package. She has chosen to niche her service to a particular industry which she has worked in for over 20 years, and consequently will be bringing her experience and expertise to her service. …
I almost cringe when I hear the term “Elevator Pitch” these days. It has been used so extensively that I automatically think “Warning, warning – sales pitch alert!” However, there is certainly a time and place to pull an elevator pitch out of your business “toolbox”. Where might an elevator pitch be suitable? At any given moment, you need to …
Is your company planning to scale up? Are you prepared to tackle increased workload? Is the business ready to handle more demands from existing and new customers? There comes a point in time when most entrepreneurs choose to grow their business. Sometimes, it is because the business is not big or efficient enough to meet growing demands. Sometimes, it is …
One evening, I was watching my daughter feed the dog. I noticed she would spoon the biscuits one by one into the dog bowl. The process was painfully slow. But given it wasn’t hurting anything and she was entertained while I cooked dinner, I let her go on. Then it dawned on me how many of us continue with slow …
