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Category - Business

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1
Protect Your Business In Tough Times
2
Six Traits Every SME Leader Should Have
3
Managing A Mature Business – How To Keep Innovating
4
Growing Your Business By Setting It Up To Scale
5
Small Business Time Management

Protect Your Business In Tough Times

As we open up after the pandemic lockdowns, many businesses are yet to fully recover. In fact, some may never recover from the enforced closures and the extended reduction in demand as customers preferred to stay home to be safe.

While people begin to embrace this new world, it is still tough out there.

This means we have to think of ways to protect your business in tough times.

While it may not be possible to be fully proofed against these times, what is possible is to secure your business as much as possible by following some common-sense business strategies.

These strategies can be either “defensive” or “aggressive” strategies.

As your profit performance drops it is difficult not to panic and to tighten all your spending.  However, you can tighten things too much. While it is natural to seek defensive strategies such as cutting costs, it is important to keep in mind the more aggressive strategies – those that your business should take to ensure that you are the one in your industry survives while others are closing down. Read More

Six Traits Every SME Leader Should Have

Having a great leader is crucial to the success of a business. In fact, positive leadership has been proven to improve employee engagement, especially in Small-Medium Enterprises (SMEs), which helps the company achieve its goals. A good leader also cultivates a positive workplace culture, which, in turn, encourages employees to be productive and loyal.

However, if you want to become a good leader, there are a few traits you should observe. Below are the six traits that every SME leader should possess.

Read More

Managing A Mature Business – How To Keep Innovating

This is the second in our series of articles on managing a mature business.

If you missed the first article, about managing the cash flow of a mature business, you can click on this link.

We have also completed our series of articles on Starting A Small Business and on Growing Your Business, and the links provided will take you to the first articles of those series if you missed them.

In this week’s article, we are (hopefully) going to recognise that your business has reached the mature stage in its life cycle, and look to renew the cycle before it drips into the next stage, which is the stage of decline!

But first, let’s refresh our memories to talk about the four stages of the business life cycle: –

Read More

Growing Your Business By Setting It Up To Scale

When you start your business, and as it grows, you will have a picture in your mind about where it will end up as your successful business.

The chances are that you see a business that grows and is prosperous, efficient, duplicating what it does for your clients now, but on a much larger scale, and repeating your success in bigger contexts.

This doesn’t happen by chance. You need to plan it, you need to set it up correctly so that it will scale efficiently rather than in fits and starts and discover all sorts of inefficiencies and roadblocks to growth along the way.

We will look at the steps you need to take, right now, before the growth spurts start, to set up your business to scale.

Read More

Small Business Time Management

One thing all owners of small businesses say is “I don’t have enough time.”

Interesting, because we can have different balances in our bank account, we can afford to hire different numbers of people, we have different tax bills, we can have different equipment in the business.

But I’m pretty certain one of the things we all have equally is time.

Look at the clock.

Mine has the numbers 1 to 12 and I’m pretty certain yours does too.

So why do some of us struggle to get things done and others seem to fit everything in easily?

Read More

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