Pricing strategies to beat the competition
How you price can have a dramatic effect on your sales, cash flow, and profit margins. Your pricing strategy will determine how customers see your trade business in the marketplace – naturally comparing your prices with your competitors. What you...
What to do if your business is operating at a loss
Operating at a loss simply means you’re spending more money than you’re making. And while it’s not uncommon, especially for new businesses, it’s still not an ideal situation and one that shouldn’t be allowed to continue in the long term....
The difference between cash flow and profit
Sales and profit are two very different things – as a business owner, you can find yourself without the cash to pay bills despite making sales you knew were profitable. You may also be startled to discover that strong cash...
Testing the market before taking the plunge
Coming up with new ideas for your business is essential for growth. And it’s exciting when you’ve got a new product or service to offer. But before you launch your new offering, it’s important to find out if there’ll be...
Ten steps to successfully franchise your business
Franchising can be an excellent way of growing your business rapidly and earning a good return. It can also be a pathway for ultimately exiting your business and leaving it in the capable hands of franchisees. Here, we’ll outline ten...
Finding good mentors and business advice
Most business owners receive plenty of well-intentioned advice and ‘helpful opinion’ from family and friends. However, good business advice spoken from commercial experience is another matter entirely. That’s not to say it’s hard to find, but finding a reputable source...
Pricing options for your business
The prices you charge for your products or services can have a dramatic effect on sales and profits. Your pricing strategy also determines how customers view and respond to your product or service. Consider the different options when it comes...
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...
