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Get better deals from your suppliers

Being on good terms with suppliers could translate into special deals or preferential treatment. Your suppliers may also give you greater leeway in the face of a cash shortage or when you need extra time to pay. Build the relationship...

Ten marketing priorities when you start your business

1. Build credibility quickly Why should people buy from a new business? Your first challenge is to overcome their doubts by building trust and credibility quickly. Some tips: Promote your skills and experience, plus those of your staff and associates....

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Why you need an accountant and how to choose one

Why accountants are necessary Unless you’re an experienced accountant yourself, it’s always best to have an expert overseeing your financial business affairs. As a business owner, you’ll probably be juggling several roles, but it’s not wise to spread yourself too...

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...

10 ways to build a competitive advantage

A competitive advantage is something that you offer or have that the competitor does not. There must be some compelling reasons for people to do business with you rather than with other businesses. The need to identify your point of...

Buying a business how much should you invest?

It can be easy for your heart to rule your head when you find a business you want to buy. However, if you don’t do thorough research before signing on the dotted line, you may regret it. Before buying a...

Understanding intellectual property

An idea can be a business’s most valuable asset. Whether it’s a business name, an original product or a portfolio of designs, your business will have intellectual property (IP) that needs to be protected. It’s also important to understand how...

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