Category - Investment

Get FREE weekly ideas to grow your business

1
How To Increase The Value Of Your Business
2
How To Start Your Own Business
3
Some basic numbers you need to know about your business
4
Need Money?
5
Does my small business really need a Board?

How To Increase The Value Of Your Business

The value of your business is not just based on the tangible assets – the equipment, the buildings, the accounts receivable – but is also based on intangible assets or “goodwill”.

Goodwill is the “extra” value of your business that is caused by all the intangible things that you do in your business to make it a profitable business that can continue beyond your ownership or stewardship. These include things like your customer relationships, your reputation, the efficiency of the business processes, marketing quality and resources, staff behaviours and culture, and your systems that create a great product and service.

Imagine two similar businesses.

Read More

How To Start Your Own Business

Are you an entrepreneur wanting to start your own business?

Perhaps you are an expert in what you do, or you are a creative excelling in your specialty, and you work for someone else but think that you can do it better, or that your own business would be so much more?

OK so you want to start your own business but where do you start? What do you do first? What do you have to do? The questions are starting to overwhelm the enthusiasm, right? If only there were a number of steps laid out that you could follow, and be sure that you’ve thought about everything and that you haven’t missed anything.

Well there is!

I have created an online course to take any entrepreneur or small business startup from scratch – from idea to opening their doors. Funnily enough it’s called “How To Start Your Own Business“!

It is wrapped around 5 steps.

Read More

Some basic numbers you need to know about your business

I have provided my followers with loads of free ideas and tools about how to create great strategy in your business, how to develop your leadership skills, and how to grow your business and your life.

But despite all the planning and marketing – being in business boils down to one thing: making sure that you make a profit that’s good enough to meet your goals.

So, here’s a training video on financial management.

Stop right there! Do not click on the “delete” button!

This is important. You cannot subcontract knowledge about your financial performance to an accountant. You have the skin in the game, and it is your duty to your better future that you know something about the numbers that tell you about how your business is performing. It’s not just about the net profit, or how much money is in your pocket.

If you want to grow your business, you need to know the relationships behind your income statement and your balance sheet.

This 20 minute training video introduces you to some key numbers – sure, you don’t have to keep your own books to get those numbers, but you do need to understand what they mean.

Watch out for some free gifts to subscribers of teikoh.com coming out soon. One of them will be about financial performance management.

Get over to the website for more great stuff worth thousands of dollars available to you for free. While you’re there, subscribe so that you don’t miss upcoming articles (and free gifts available only to subscribers) or subscribe here.

See you soon!

Need Money?

At some stage, every business will need additional funds. Ideally, this comes at a time when you have already generated funds salted away from past profits, but from time to time, you may need the extra money to “prime the pump” and make more money.

Here are eight options to source an injection of funds.

It is important to note that they are not in any natural order of preference – the circumstances must meet the potential source, and you do have to weigh the pros and cons of each option, in accordance with what you need the money for, how long you will need it, and what you are prepared to give away for it. Read More

Does my small business really need a Board?

Last week I wrote about establishing a governance framework in a family business. If you missed it, look here.

Just to refresh ourselves, the difference between governance and management is that governance is about strategic direction, overall policies, establishing a vision and mission, whereas management is about caring for the operations of the business, the “how’s” of running the business to meet strategic direction and policy.

The decisions correctly made in governance are about the really big things in the business that will affect the long term future of the business.

Appropriately these governance decisions are made by a Board of Directors while the CEO and other managers look after operational management.

In a small business, whether a single owner-manager business, or one with a number of family or unrelated partners, both governance and management decisions are often made by the same people wearing different hats, and more often than not, the decisions are made smoothly and efficiently.

So, why would you need to put a Board in place?

I believe a number of issues make the establishment of a good Board beneficial to your business, at the right time. Read More

Copyright © 2015. Developed by OTS Management Pty Ltd