Employees are the most critical part of any business, you can have the best product or service in the world, but if you don’t have the right people, you will never be able to grow your business. Understanding how to recruit and retain the best staff is a skill that every new business owner should possess. Without high calibre, motivated …
The cash flow forecast (or cash flow statement) is one section of a business plan that people experience the most difficulty with. Businesses fail for a variety of reasons; however, ultimately, they close because they run out of cash. This means, the better you manage your money, the more chance you have of keeping your business operating.Preparing a cash flow …
As a global recession looms with the onset of the COVID-19 virus, more people will lose their jobs and will be forced to become self-employed and start their own business. As the weeks and months progress, I am sure governments across the world will provide additional financial support for entrepreneurs to start their own business. But in the meantime, you …
The rate of new businesses registrations has rapidly accelerated in the UK over the past few years. It is estimated a record 500,000 businesses start each year. One of the first challenges of any new business owner has to face is how do they get business funding. This article will take you through the most popular ways to get your business …
Getting your startup marketing wrong is one of the main reasons why start-ups fail. The key to making your marketing a success is understanding the difference between strategic marketing and promotional marketing. Strategic marketing is the foundations of your plan. Here you assess your market and plan how you will reach that market. Promotional marketing is the actual execution of your …
Whether its by force or choice, you may have to start your own business at some point in 2020. Over 500,000 new businesses were registered in the UK in 2019. The number could be close to a million if you take into consideration how many unregistered companies are started. This trend is set to continue in 2020. As a global …
There are a couple of questions we get asked a lot. “How to run a successful business?” and “How do we get from being a start-up to being a successful and established business?” We have studied hundreds of different businesses and have identified five characteristics, most of them share. They have a strategic direction and a clear plan for how …
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 …
Whether you are just starting up or an established business, every business has room for improvement. The market is constantly changing if you are 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 …
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 …
