That well-known phrase “The customer is always right” was originally coined in 1909 by Harry Gordon Selfridge, the founder of Selfridge’s department store in London. It’s a principle that many businesses try to adhere to, as it lets their customers know that they are always going to get good service. Read the rest of this entry »
Growing your workforce can be one of the most challenging aspects of running a business, and to be honest, I see more business owners who have got it wrong than have got it right. In fact, many business owners have stopped growing their teams altogether, because they have made so many mistakes with recruitment which have cost them so much time, money and effort that they cannot face going through the process again. Read the rest of this entry »
Many businesses out there, no matter what size they are, how long they’ve been trading or what sector they are in, are not achieving the success they could, because their teams are not performing to their full potential. This is no different to what happens in sporting teams. Just look at the England Football team in the Euro 2016 competition, and in fact in many other championships they have played in. There is so much potential out on the field, yet the performance that is delivered is woefully below our expectations. Read the rest of this entry »
As a business owner, the task of managing a team can completely take over your week – dealing with day to day issues and niggles can drain your time, affect productivity and efficiency, and leave everyone feeling like they are constantly firefighting. Read the rest of this entry »
Sales are all about customer relationships, so maintaining a database of your leads and clients so you can develop those relationships is a no-brainer. After all, you invest a lot of time, effort and money into getting leads into your business, so failing to keep in touch with people who have shown an interest in your goods and services is a waste of that investment. Read the rest of this entry »
As we approach the end of 2017, are you looking towards 2018 with trepidation, or with excitement? There will undoubtedly be challenges ahead, some we can foresee and some that will take us by surprise. So what can you do now to ensure that 2018 is a great year for your business? Well, here are my top 12 tips for greater business success over the coming year: Read the rest of this entry »
I came across a post on Facebook recently, setting out the “12 F***ing Rules for Success.” I don’t know who originally penned these rules, but I thought they were pretty much to the point, so I have paraphrased them below (without nearly all of the swearing!)
- Do the work. Don’t be lazy.
- Stop waiting. It’s time.
- Rely on yourself. The Universe doesn’t give a damn.
- Be practical. Success is not a theory.
- Be productive early. Don’t mess around all day.
- Don’t be a baby. Life’s hard. Get on with it.
- Don’t hang out with idiots.
- Don’t waste energy on stuff you can’t control.
- Stop bullshitting. It’s embarassing.
- Stop being a people-pleaser.
- Stop putting toxic stuff in your body. It’s stupid.
- Stop doing the same thing and hoping stuff will change.
Do any of these resonate with you? Well, now you know what to do!
Do you have a business plan? If so, is it sitting in a filing cabinet somewhere, never seeing the light of day? And can you actually remember what goals and targets you set out in it? While a full-blown business plan has its purposes (securing bank financing being one of them), an inspired, action-oriented success plan will prove to be far more effective in driving your business forward. Read the rest of this entry »
I often get asked, what is the most common mistake business owners make when they are growing their business? While I could say it is not having a vision, setting goals, planning their time, generating enough sales or having an effective marketing strategy, the true factor must be the lack of financial understanding that some business owners exhibit. Knowing your numbers is absolutely vital, if your business is to thrive – or even to survive! Read the rest of this entry »
Most businesses that fail do so purely and simply because they run out of cash and are unable to pay their bills as they fall due. Unfortunately, this doesn’t just happen to those that are “bad businesses.” Take for example the high profile bankruptcy of Lehman Brothers in 2008, which was the biggest bankruptcy filing ever in the USA. This was one of the oldest and most successful investment banks in the world, and it failed not because it ran out of clients or sales, but because it had insufficient assets to cover its liabilities – i.e. not enough cash to settle its debts. Ignoring this basic business principle brought down an organisation with $600 billion in assets. Read the rest of this entry »