Business Planning 101 : Seven Ways to Tell If Your Business Idea will Succeed
Being in business is tough. So if you are thinking of setting up a business make sure you do everything you can to maximise your chances of success. Below are seven ways to tell if your business idea will succeed. 1. A strong point of difference To maximise your chances of survival in business, […]
Will Your Business Idea Work?
Setting up your own business is exciting, so it’s easy to get carried away. However, before you jump straight in and invest your time and money into your new business idea, take a step back and give some serious consideration as to whether your business idea will work and give you a reasonable return on […]
5 Cheaper Ways to Advertise Your Business
Advertising is an essential component of success for any business. Proper advertising ensures more sales, but if you choose the wrong options, it can be a very expensive proposition. Let’s look at five ways you can reduce your business’s advertising expenditure without affecting your results. Referrals A referral program encourages your current customers to […]
How to Attract and Retain Top Talent
The best companies attract and retain top talent. Finding the best people takes time, but it is an investment that can save you money over the long haul. The more effort you put into finding the right people, the less likely that they will move on when another opportunity arises. Here are some strategies for […]
7 Ways to Improve Workplace Productivity
The success of any business, large or small, depends largely on nurturing an efficient, productive workplace. While improving employee productivity should be always be a priority when the ultimate goal is a sustainable and profitable business, the process is easier said than done. Below are some of the most effective methods of managing a productive, […]
Five Undesirable Customer Types
Every businessperson knows that not all customers are created equal. Some customers are loyal, while others will stray if they’re offered a slightly lower price elsewhere. Some clients are demanding, while others only call when they wish to place an order. Every business must deal with a variety of customers. But there are certain […]
Optimising Your Website for Local Searches
Local search engine optimisation (SEO) is an important part of any online marketing strategy for traditional businesses which service a specific geographical area. Local SEO works in much the same way as normal SEO, although there are some important differences to consider. Taking the time and trouble to optimise your website for local is […]
Tips for writing effective performance reviews
The performance review has become a rite of passage in the business world, yet many managers and employees fail to make the most of the opportunities these important discussions can provide. When used properly, the annual review process can provide managers with real insight into everything from employee perception of the company to ways to […]
Using KPIs to monitor and improve business performance
The key performance indicators (KPIs) for one company will invariably be different from the KPIs of another firm. What both hypothetical companies share however, is the challenge of selecting which KPIs are best suited for measuring the goals and progress of their particular business model. Indeed, entrepreneurs have a vast array of reports and […]
Identifying your break-even point
Without knowing your break-even point, you can’t make informed business decisions. To cover the costs of your business you need to sell enough goods or services to reach your break-even point. Knowing where that point is, and how long it will take you to reach it, can be fundamental to your success. This especially […]