The quickest way for any business to make 10% more profit each year is to put its prices up by 10% each year. But if it were as simple as that, then we’d all doing it, wouldn’t we? The reason we don’t make regular price increases is that we have the fear that if we do so, we are going to lose our customers. Read the rest of this entry »
A question I am often asked is: “what is the most common mistake business owners make when they are trying to grow their business?” Well, there are a multitude of factors that will hold back business growth. Not having a clear vision, failing to set goals, inadequate planning of time, not generating enough sales or having an ineffective marketing strategy to name a few. But by far the most important factor is 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 »
Marketing is one of the most important but least understood skills for business owners to master. Many businesses owners seem to grow their businesses without really knowing which aspects of their marketing (if any) are effective. And even more importantly, they don’t know what alternatives they have to maintain that growth, should there be a downturn in their market place. Read the rest of this entry »
Just imagine if your business was like a Formula 1 Team – how successful do you think you would be? On race day, would you be the Team Manager, completely in control of the situation and calmly orchestrating events from the safety of the pit wall? Or would you be running around, doing every job to make sure it is done properly and getting in everybody else’s way? You may feel good because you are busy helping, but the end result is that the car goes out long after all the others, and with only 3 wheels on! Read the rest of this entry »
When thinking about growing their business, most business owners will focus on increasing the number of customers, selling more products or services and making more profits. But if they try and achieve that, they are destined to fail. Why? Simply because they are concentrating on the end results, and not on the factors that they can actually have an effect on. I’ll explain below! Read the rest of this entry »
Do you have some customers that are frankly a complete pain to deal with? Maybe they argue about price, or they don’t communicate with you (except to complain). Perhaps they don’t pay their invoices without being chased, or they don’t give you referrals. Chances are they just generally stress you out, and take up more of your time and energy than is warranted.
The fact of the matter is, you’ll always get the customers you’re willing to accept. Well, maybe now is the time to raise your standards, and get some better customers! Read the rest of this entry »
We are delighted to report that we are now based in a new, larger coaching and training centre in Southampton, to support the next stage of our business development strategy. From our new base, we will be able to help even more local businesses to grow and flourish!
Why not stop by for a cup of coffee (we have a shiny new coffee machine!) and a tour of the new offices if you’re passing? The offices are easily accessible from Junction 5 of the M27 via the Stoneham Way. You can’t miss us!
Our new address is:
7 – 9 Market Buildings
Southampton SO16 2HW
We look forward to seeing you soon!
Many businesses will fail each and every year. But what is the reason that so many fail? Well, in most cases, it’s purely and simply because they run out of cash. They can’t pay their staff, their rent and their suppliers, and then they can longer function. Unfortunately, this doesn’t just happen to “bad businesses.”
Take for example the high profile bankruptcy of Lehman Brothers in 2008 – the biggest bankruptcy filing ever in the USA. This was one of the oldest and most successful investment banks in the world. 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 »
In order for your business to become really successful, you need to master the art of marketing! Great marketing helps you to target the right audience for your business, and turn passive prospects into active buyers. Marketing is the best way to increase your engagement with customers, and thereby boost your sales and profits. Read the rest of this entry »
Running a successful SME is tough. There are so many jobs that need doing that it’s a wonder that we actually get anything done at all! One apt definition of a business owner is:
“Somebody who would rather work 16 hours a day for themselves than 8 hours a day for somebody else.”
However, just working hard does not mean you will be successful! Sadly, I have met many hard working people who never achieve their full potential, or whose businesses even go bust, including my own father. So what do you need to do to ensure that your hard work brings you the success you desire? Read the rest of this entry »