1.Set prices correctly First, you need to be financially informed. Before you set your pricing, work out the total costs of running your business which includes both your fixed costs (the expenses that will come in every month regardless of sales) and your direct...
How to break your bad habits in 90 days Chains of habit are too light to be felt until they are too heavy to be broken.” –Warren Buffett So as business owns its important to become self-aware of any bad habits which are limiting your success...
The sale of your business is one of the most important decisions you will make in your life so getting it right and achieving a successful outcome is critical. Here are some steps to follow to successfully sell your business in today’s market. Get a...
Managing cashflow is the number one issue facing SME (Small – Medium Enterprises) owners across Australia and one of the key reasons 50% of companies go out of business in the firsts 3 years according to The Invoice Market’s 2017 research report. According to the report...
While many people use RAC or NRMA to conduct a vehicle inspection before they buy a second-hand car the same due diligence process should be undertaken when buying a business to ensure the asking price is fair and reasonable and to avoid buying a dud....
How to set prices in your business Do you understand the market well enough? Do you understand your product or service well enough,including all associated costs? Do you understand your ideal customer well enough? Have you surveyed customers to-test prices? Have you checked your competitors’ pricing? If you can answered...
HOW TO CREATE MARKET SURVEYS It’s so important to get regular feedback from your customers so that you can continuously improve your service offer and remain one step ahead of the competition. With many online tools available today it’s never been easier to create and send...
For business to achieve continuous growth it needs to ensure that all the necessary building blocks are in place and that all the key activities in your business scalable and replicable. Having one person doing a task in their own way is not scalable. But converting...
Let's face it. Scaling your business is hard. It takes considerable effort. In the beginning, it means wearing different hats. It means dealing with sales and marketing. It means understanding taxes and corporate compliance. It involves having to interact with customers daily. And so much...
1. INCREASE DOLLARS OF GROSS PROFIT BY INCREASING TOTAL SALES Make sure advertising is effective - monitor each program and either keep it as-is, refine it, or drop it. Don't just change it for its own sake, if it works! Make use of in-store displays...