Whether you are just starting up or an established business every business has room for improvement. The market is constantly changing if you not planning to improve and grow your business you are just stagnating and risking sustainability. This is why the stock market value of companies crash when they announce lower than predicted sales growth. Growth is a good …
Starting a business is not easy to do. Even if you have an incredible idea, the odds are stacked against you. Most business ideas never convert into a business, even if they do, most new businesses do not last past two years. Don’t let this worry you, most of the business that did not start or failed were destined to …
Writing a business plan is a challenging experience for many entrepreneurs. Even if they have a great idea, they fail to start the business or get funding – mainly because, to put it nicely, their business plan just plain sucked. Writing a business plan shouldn’t be a daunting experience, it should be an exciting document where you put together all …
Explaining how much money your business will make is a crucial part of writing your business plan. Let’s be honest, unless you are an NGO the main reason you are in business is to make money. If you are preparing a business plan for investment or funding, you will have to show when you will start making money and …
Effective business planning is all about looking into the future. In your business plan you must be able to predict the future and ensure your business is best placed to survive, and if possible, thrive. As difficult as this sounds there are a few tools and techniques that will help you plan for the future. The most widely used business analysis tools …
The cash flow statement is one of the sections of a business plan that people tend to experience the most difficulty with. Preparing a cash flow shouldn’t be that difficult as long as you follow a few simple steps. If you are applying for a startup loan The Cash Flow Statement will be the only financial statement you will have …
Choosing a business model is one of the most critical factors setting up your company as it determines your product, how the world views your company and most importantly, how you make your money. For internet businesses, there are five main options Advertising The Facebook model, a free product for users, revenue is generated by targeted advertising. This is fine …
Analysing your competition can help you supercharge your own business by finding weaknesses in your competitors and offering your target market a better offer. Proving there is a need and a profitable and sustainable market for your product/service is the first step in building a successful business. However, just because a market exists, it doesn’t mean they will buy from you. Every …
One of the most frustrating aspects of starting your own business can be raising finance. You have rely on other people and organisations such as business angels, banks or governmental institutions to fund your business. This can take time and ultimately lead to your business never starting up. It doesn’t have to be like this, there are options out there where you can …
Whether you have had a good or bad 2016 there are always ways you can improve your business. If you are planning to grow your business in 2017 here are 7 tips for you. 1. Prospect & Lead management Before a customer becomes a customer they will usually become a lead beforehand. Understanding how much you pay for a …
