What to include in your business plan
A successful business is one that’s built around a solid business plan. It’s the architecture you base your business on, and a tool that’s always in use to make sure you’re on track. A business plan is also something that...
Seven ways to tell if your business idea will succeed
Document the positives in your business plan to persuade both yourself (the most important person) and stakeholders such as lenders, investors, suppliers and potential customers that your business idea is sound. 1. Your idea has a strong point of difference...
Starting a small business – Frequently Asked Questions
Here are some of the questions about starting a business that come up frequently. Q: I’m thinking about turning my hobby into a business. Do I have to form a corporation? A: No, you don’t have to form a corporation to...
Work out a price for your product
There are a number of ways to arrive at the price to charge customers. Regardless of which method you use for pricing your product, you’ll need to know what it costs to supply your product to be sure you’re able...
Five ways to increase your profit
For many small businesses, the best way to improve profitability is to increase turnover, as there’s no limit to sales but there is a limit to how much you can reduce your costs. Let’s look at how you can focus...
Creating value in your business
The key to building value in your business is to plan the process in a systematic way, whether you’re aiming to grow your business or groom it to get a better price from a buyer. Looking through the eyes of...