Owning your own business is widely recognised as one of the best ways to achieve financial freedom. With the right knowledge and skills, you can cultivate a successful business, hire staff to help it grow and put your money to work for you. That said, starting your own business is by no means a guaranteed path to success. By tying your fortunes to the success of your business, you are naturally shouldering a higher burden of risk than you would if you merely collected a pay cheque from someone else’s business.
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Topics:
increase cash flow,
attract new customers,
save cash,
build business networks,
increase sales,
trade dollars
It’s no secret that online sales are quickly overtaking those made over the counter. Customers love the convenience of shopping from their office, at home, and on the go. If you’re not building your e-commerce presence, you’ll find your business will be left behind.
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Topics:
growing your business,
small business owner,
increase cash flow,
small business,
attract new customers,
build business networks,
increase sales,
trade dollars
With 2020 comes a new decade, and with it, a new range of challenges every successful business must overcome to increase sales and grow their customer base. How can you set your business up for success, while also setting yourself apart from your competition? Here are some tips from Dr. George Day, a marketing expert at the University of Pennsylvania.
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Topics:
clear excess stock,
attract new customers,
save cash,
trade exchange,
increase sales,
business needs,
trade dollars
It’s an age-old dilemma. Diversifying your product range can help you meet a broader range of customer demands, but will it spread you too thin? Devoting your resources and energy to a narrower product range may ensure greater quality, value, and market share, but do you risk putting all your eggs in one basket?
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Topics:
attract new customers,
save cash,
build business networks,
branding,
unrealised potential,
increase sales,
business needs,
customer loyalty,
marketing
There are countless theories about how to run a business, and when it comes down to it, every strategy has the same end-goal: increasing your profits. Whether you’re working on brand awareness, innovative product development, or increasing workplace efficiency, the goal is always to increase sales and cut operating costs.
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Topics:
growing your business,
increase profit,
increase cash flow,
small business,
attract new customers,
save cash,
build business networks,
increase sales,
trade dollars
Small-to-Medium Enterprises (SMEs) often lack the sheer size they need to compete with much larger, international firms. Doing business in an environment where you’re one of the smaller fish is difficult, which is why smaller businesses often align their objectives with other, similar businesses to create business networks. These networks let SMEs work together to accomplish larger objectives, which increases their competitiveness with bigger companies, and as such, they’re very important for the businesses involved.
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Topics:
small business,
attract new customers,
build business networks,
business blog,
increase sales,
networking
It’s not surprising to see a significant shift of practices when it comes to business networking. The world has adopted new ways to network that are no longer limited to face-to-face interactions. For a long time, business owners have attended meetings, events, and tradeshows to expand their contact base. Today, thanks to fast-paced technology, online networking sites have become common in the realm of making business connections.
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Topics:
small business owner,
strategy,
small business,
attract new customers,
build business networks,
unrealised potential,
business needs,
networking,
trade dollars
Business networking is an essential growth strategy to scale up your business and create a real impact on your bottom line. Finding a supportive network can help you find true value in your work, as you help your customers with your products and services, while making authentic connections.
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Topics:
attract new customers,
trade exchange,
build business networks,
increase sales,
business needs,
networking,
trade dollars
When you first started your business, you had a plan. It may have been something roughly scratched out on an A4 sheet of paper, or a complex business plan you presented to your bank manager, or maybe something in between. Your business plan provided you with a mission, a path for your business to help keep things moving in a positive, forward direction.\
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Topics:
growing your business,
strategy,
small business,
attract new customers,
business blog,
unrealised potential,
barter,
business needs,
networking
Understanding the financial health of your business can be an extremely overwhelming task to get your head around. Unless you have a passion for figures then it’s an area that can cause a lot of frustration and stress. You may have a handle on your profit and loss statement, but are you able to look deeper and really see how your business is going?
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Topics:
Accounting,
increase cash flow,
small business,
attract new customers,
save cash,
spare capacity,
unrealised potential,
increase sales,
business needs,
trade dollars
