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Category - Business

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1
How To Grow A Successful Small Business
2
Risk Management Planning for the Coronavirus
3
The Six Business Success Factors
4
How Organisation Charts Predict Your Business’ Future
5
7 Financial Measures To Help You Manage Better

How To Grow A Successful Small Business

Many people start their own business in order to be independent and to do their work their way, others are passionate creators who love what they do and want to do it for others, and yet others are legacy builders who want to bring something new to the world.

But whatever the reason for starting a business, building a successful business is dependent on established principles.

It is how you balance all of these principles, so that all of them exist in your business, and then what emphasis you place on some of them to get you what you want.

The cold hard truth is that you can’t grow a successful business by relying on your knowledge of how to do things, or your passion, or the value of what you bring to the world. All of these, on their own, will not build your successful business.

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Risk Management Planning for the Coronavirus

I know that I have only just published my usual weekly blog post, but as one of my clients said to me, “we live in interesting times.”

I wanted to quickly put out there what a small business can do in relation to risk management planning the effect of the coronavirus pandemic on their businesses.

But first, let’s get things into perspective.

Do not panic. Do not spread rumours and myths. Do not subscribe to the mob mentality that is now on display in supermarkets across the country. Get your information from trusted medical sources including government health departments and information sites.

However, in these “interesting times” it is prudent to be over-cautious in preparing for how the coronavirus can affect your business, so let’s get into what risk management planning you should be doing.

Let me give you a “checklist” of risk-mitigation procedures and strategies to implement in your small business – no need to give me your email, no need to download – here it is.

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The Six Business Success Factors

Last year, I woke up one morning in November and realised that I had been working with small business owners for over 40 years!

It did cause me to give thanks for the opportunity to learn about the concerns and struggles of small business owners because the last 40 years have been an excellent school to learn about what works and what does not. It’s been the living research program where I’ve learned about theoretical principles and models from Business Schools in that period, but what I’ve seen at the coalface has translated all that academic learning into some practical understanding.

All that experience has helped me to identify the six success factors that every small business needs to develop in order to become successful, so I decided to write a free Guide to share these success factors.

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How Organisation Charts Predict Your Business’ Future

Wouldn’t it be nice to start your business and know exactly where you are going to be in 2, 5, or even 10 years’ time?

Well, obviously if you are starting up a business, you will have read my articles on what you need to look out for – including the need to prepare your business plan, which is a way of mapping out your future. You may even have completed my online training on How To Start Your Business. Your vision-definition especially will be part of the planning process, and it envisions for you what your business should look like if you succeed in following your strategies.

“But”, you say, “Even my vision is what I hope my business would be like, I wish I could see what it will be like.”

Well, full disclosure, I do not have a crystal ball, but I do have a method where you can “see” with some clarity, what your business will look like, and it’s not about envisioning anything, it’s about creating your business structure now, in mind for the future.

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7 Financial Measures To Help You Manage Better

If your small business is in the growth phase, that means you have survived your startup phase and are on your way, so well done!

The growth phase of a business is characterised by a rapid increase in sales. Customers have become aware of your business and know how your product or service meets their needs. So, they buy more and more, and more of them come to you, at least to try you out further.

However, I have to rain on your parade slightly to tell you that the growth phase of a business can be stressful times.

This is because the characteristics of the growth phase poses a number of challenges.

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