Over 500,000 new businesses were registered in the UK in 2018. The number could be close to a million if you take into consideration how many unregistered businesses are started. What does this mean? First, the UK is an entrepreneurial hotspot. Second, starting your own business is within reach for just about anyone. In this article, I will explain some …
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 …
Explaining how much money your business will make is a crucial part of writing your business plan. Let’s be honest, unless you are a charity 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 explain 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 …
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 …
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 …
Is your business stuck in a rut and not growing as fast as you would like? Instead of waiting for something to happen, as a business owner, you need to take the initiative and attempt to transform your business. Transforming your business doesn’t mean you need to employ expensive consultants to analyse re-engineer your processes and technology. You can transform your …
