Category: Business Tips

Maintaining a full “well of happiness” is not just a luxury; it’s a crucial aspect of sustainable business success. Similar to the airline safety instruction to secure your oxygen mask before assisting others, you must prioritise your well-being continuously in business. Consider the activities that replenish your well-being – those that revive your energy and…

Referrals are a powerful means of securing new business, and one effective way to generate them is by building strong networks. Networking and referrals offer a cost-effective strategy for business growth, with a potentially significant return on investment. Here are five ways to maximise referrals from your networks: Calculate the Lifetime Value of a New…

Elevating your leadership skills and fostering a robust workplace culture is pivotal for building a better business. A toxic workplace can hinder productivity, making it crucial to assess and enhance your organisational environment. Spotting Toxicity: Signs Your Workplace May Need Attention Lack of Trust: Is there a noticeable divide between owners and the team, fostering…

Achieving peak efficiency and unlocking economies of scale within your business largely hinges on having the right organisational structure. This step can significantly enhance your bottom-line returns, outpacing mere revenue growth. A well-designed structure should foster revenue increase without creating operational bottlenecks and creating the optimal organisation. Your organisational blueprint should be a comprehensive guide,…

Welcome to the third step in our series on building a better business. In this crucial phase, we delve into the often underestimated task of understanding where your business stands today—warts and all. Without a clear grasp of your current realities, the road to success remains obscure. Let’s dive into the essential questions that will…

In the journey of building a better business, the first crucial step is to define what success looks like for you. Your business should serve you, not the other way around. Let’s explore how to crystallise your vision for a thriving business that aligns with your passions and values. Clarify Your Vision To create a…

Business owners often prioritise profit and cost reduction, but it’s essential not to overlook the significance of your Balance Sheet. Even profitable businesses can face financial challenges, making your Balance Sheet a crucial indicator of your business’s solvency. Here, we explore four critical areas to focus on within your Balance Sheet for lasting success. Profitability…

In the world of business, maintaining a healthy cash flow is essential, and one key factor in achieving this is effectively managing your debt collection. But how do you measure and improve debtor days? What Are Debtor Days? Debtor days refer to the average time it takes for your customers to settle their invoices. While…

Have you ever found yourself in a meeting with your accountant, celebrating a surge in profits, yet still wondering where your cash has disappeared and how you’ll meet payroll the next day? If you have, you’re not alone. The stark reality is that cash and profit are not one and the same. In this article,…

Cashflow is vital for your business’s health and can often be a source of stress. To boost your cashflow, consider these 10 straightforward tactics: Set Clear Terms of Trade Establish clear Terms of Trade for every project. Define your invoicing procedures, expected payment timeline, and consequences for late or non-payment. Offer Payment Options Explore payment…

In the dynamic world of business, growth is essential for sustained success and business growth. As a small business owner, you have seven powerful levers at your disposal to drive growth. In this article, we delve into these strategies that encompass both sales expansion and cost reduction. By implementing these tactics, you can optimise your…

As business owners, we’re accustomed to checking the weather forecast before making weekend plans. But have you considered the importance of forecasting in your business? In this article, we’ll explore how a comprehensive business forecast can provide valuable insights, empowering you to make informed decisions for sustainable growth and business success. The Power of Business…