Stay relevant to stay in business

The way you run your business is often based on what you believe made it a success in the first place. Your plan of action is based on the credence that what worked in the past will work in the future. As long as this philosophy works its fine, but to what extent does is actually work? When I visit entrepreneurs and start asking questions about their business model, how long they have been in business and why they think their business is still...
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Marketing your business effectively

The world has changed, nothing is a given any more, not even an effective marketing strategy of the past. Habits and trends are different and the way consumers think and buy is different. Technology has progressed in leaps and bounds. To market your business effectively, you need to be on top of all of this. In the past you told the customer, now they tell you. They want choices and they want to make the decisions. No longer can you “tell th...
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The do’s and don’ts of business expansion

At one time or another, every business goes through a growth spurt and, whether it’s a multi-national corporation or an entrepreneurial enterprise, expansion is a tough process to navigate. The real danger for any expanding business is that it does so too quickly or in an uncontrolled way. When this happens, cash flow and customer satisfaction are usually the first casualties and, in extreme circumstances, these can result in the demise of a...
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Growing your business

If your business is established, you already know the ins and outs of your business environment. However, with market trends changing as often as they do, it is important to stay abreast with these changes and keep your options open. With the SME environment becoming increasingly competitive, it's important to keep an eye out for new opportunities and possibilities. If expanding your business is something you want to explore, here are some tip...
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Assessing your company’s financial position

If you're not so clued up about the accounting and financial side of your business, you may not realise how an in-depth financial analysis can benefit your company. Learn how to get the most out of your financial information. You may think that because you have good bookkeeping and accounting processes in place and your cash flow is under control, you can sit back and relax. Unfortunately, you'd be wrong. This is the perfect time to do an in-de...
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