Congratulations; celebrating your first year in business is a cause for celebration. For a start you have survived longer than about 50% of startups so well done. Getting to a year is no mean feat, you will have started your business, sourced suppliers, developed relationships with your customers, marketed your product, given great customer service. […]
How to write business plan: Keep It Simple Stupid
Don’t worry I’m not calling you stupid, I’m just saying use the K.I.S.S principle to ensure that your business plan is great. Your business plan is a key component in the success of any company and is a document that anyone considering a business venture should prepare. It sets out a roadmap that will take […]
Employment or Self-employed entrepreneur?
Whilst coaching some of my clients, one of the main things we talk about especially in the very early stages of a business is why do you want to start your own business. The main reasons that I hear are for becoming an entrepreneur: I want to be my own boss I have this great […]
How to Write a Business Partnership Agreement.
Before we go too far lets understand what a business partnership agreement is. It’s reasonably simple; it is nothing more than when two or more people agree on a mutual interest that is designed to enhance such interest. Partnerships present special challenges to the concerned parties. These concerns must eventually become an agreement. There must […]
Business Networking Tips: Events, Groups and Being Social
Business networking is an activity where individuals or groups, all of whom have a common agenda, get together to take action on business opportunities that have a net positive effect on all concerned. Business networking has absolutely nothing to do with multi-level or network marketing. Business networking can be done on a local level. Business […]
Grow your business: Small to medium businesses
Congratulations on reaching the point where you are asking, how to grow your business? Statistically you are amongst the 50% of new business that make it to five years. It is now time to focus on growing your small business. If you can survive during the early years; when your expenses are high and your […]
Small Business Failure Rates, What’s The Reasons?
Before we talk about small business failure rates, let’s try to understand the small business profile. This information has been gathered from a host of sources, most notably the U.S. Department of Commerce, Bureau of Census. Here are the statistics that are of importance when analyzing the reasons for small business failure. Annual revenue: Less […]
What Is The Best Business Legal Structure In The US?
Congratulations on your decision to start a business. There is nothing quite as rewarding as taking your vision and turning it into reality. One of the first things you will have to do is form your business legal structure. There are a number of options available, your first task as a budding entrepreneur is to […]
What Is SWOT Analysis?
According to the Daily FT, SWOT analysis. It is a strategic analysis of a person, project or business. It means Strengths .. Weaknesses .. Opportunities .. Threats. It comprises the identification of the objective and the internal and external factors and threats that either aid or impede the objective. The SWOT analysis technique can be […]
A Guide on How to Prepare a Cash Flow Statement
Before we get into the intricate details of how to create a cash flow statement template, we should first attempt to define “cash flow statement”. A cash flow statement is a document that shows the impact of changes to income and balance sheet accounts affect the cash position of the company. It breaks the analysis […]
