Like never before, businesses are being encouraged to actively manage their cash flow. The global financial crisis has put cash management under the spotlight as companies, large and small, fail. In the SME sector, cash flow issues are the most common cause of failure. Businesses simply run out of cash and collapse or are forced into […]
Over the last two decades, customer loyalty programs have exploded. Consumers under 30 probably don’t remember a time when they went to a supermarket and bought groceries – or fixed your car or checked into a hotel – without showing a customer loyalty card. For big corporations, the value of customer loyalty programs is hotly […]
Great partnerships can make great companies. Look at Hewlett Packard and Microsoft for example. However, before getting involved, it pays to get an understanding of the perils and pitfalls of partnerships. For anyone starting or trying to grow a business, working with a partner can be great. After all, it’s tough and lonely to build […]
Most businesses putting up a website have visions that millions of people will be instantly flocking to their site, providing a qualified source of new enquiries. In some ways it’s the new age version of “hanging up a shingle” and naively expecting customers knocking on the door. It pays to have some realistic expectations about […]
The world has changed. Terrorism, natural disaster, and global financial chaos. The last decade has been a wake-up call to anyone that runs a business. To be successful, or even to survive, expect the unexpected. How can a business increase its chances of survival and reduce exposure to one catastrophic business occurrence? 1. Don’t get […]
One of the greatest complaints small employers have is how difficult it is to find good employees. But there is one place they often fail to search for new job applicants – the families and friends of their best employees. After all, current employees who have great work attitudes probably have brothers and sisters with […]
A significant conflict with a customer, employee, supplier or partner is always disrupting. The more that these disagreements are permitted to escalate, the more damaging they become. Invariably with the slowing economy, there is a greater chance that a business will become involved in one form of dispute or another. Try these strategies for dealing […]
What exactly is a ‘cold call?’ It’s a sales call – on the phone or in person – to a prospect who has not approached your business nor expressed interest in your products or services. Most people – even seasoned sales people – find it a challenge to make cold calls. But there is a […]
In a small company, it is often difficult to find time to organise for things to be done. Each day, orders must be filled, customers must be served and bills have to be paid. For every business owner, these things are just as important and immediate. With many responsibilities for business owners, marketing can easily […]
In business, the stress is always on success. Seminars promote ‘Small Business Success’ and magazines run stories on ‘How to Run a Successful Business’. Failure is the ‘F word’ of business – it is taboo to mention it. After all, failure is what happens to other people, right? But what happens when we ourselves fail? […]
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