Category: Being in Business

How to Kick off a New Business Year on the Right Foot

A New Year is all about new opportunities where you cast out the old and make way for the new.
And just like you make personal resolutions for a fresh year ahead, now’s the time for business owners to make resolutions for your business too.
So how do you start a new business year on the right foot, and turn the page on a new chapter in a way that allows you to set and achieve goals for the 12 months ahead?

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What does your business really do?

Sure, your business might provide a service or product, but what does it really do?

Chances are it solves a problem on behalf of your customer, and when you clearly identify what that problem is and how you fix it, you begin to have a much more meaningful conversation with your existing and potential customers.

So, let’s investigate further…

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Why you need a business mentor

It’s no secret owning a business can be tough. It can also occasionally be lonely to be the one responsible for the welfare of others and the decision making that is required to ensure a successful operation.
That’s where there’s immense value in seeking out a mentor (or more than one) to help guide you through the business journey.

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The measure of business success

We can talk about goals, KPIs, and growth as much as we like, but the true measure of business success is drawn from a far greater perspective:

Is your business what you intended it to be?

Does your business meet your lifestyle needs and goals?

After all, these are the two prime reasons that people enter business, to achieve an ambition and to gain financial security that facilitates their lifestyle.

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Understanding business risk

Every business has risks attached to it and they come in different forms.

There are the risks associated with strategy, such as new products and growth phases, the risks to your business location such as natural disasters, and human risks including staff selection and their habits.

While those risks might be present, they can also be managed, which involves identifying the risk, developing strategies to mitigate it and outlining these in your business plan.

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Determining the weak link in your sales chain

I’ve said it before and I’ll say it again, regardless of what industry you are in, you are actually in the business of sales.

And the process of selling involves a series of events all linked together. If your sales aren’t what you believe they should be, chances are there’s a weak link in your business and your sales process.

Determining where that weak link lies is critical. So, let’s look at the key areas where there’s likely to be a weak link in your business…

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Forward planning in business

Some might say predicting the future is a bit like staring into a crystal ball – except in business, it’s an absolute necessity, and that’s where forward-planning comes into play.

Forward-planning is all about anticipating the uncertainties that could occur, then devising a business strategy to accommodate any foreseeable outcomes.

So, what’s involved in forward planning, and how does it work?

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Sales Without The Hard Sell

Whether they know it or not every business is about sales, but that doesn’t mean it involves ‘hard selling’.

The actual art of sales is about bringing the customer to the ‘right decision’, in the knowledge you have the product or service that they need to solve a problem.

What do I mean? Well let’s walk through a sales process that’s all about having a conversation rather than focusing on the hard sell.

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Five Signs Your Business Is Ready To Bring On Staff

In every business’ growth journey there comes a point where additional resources and investment will be required. At this critical juncture it’s likely you, the business operator, are working at capacity. It’s a struggle to complete all the small business tasks required and there simply aren’t enough hours in the day to get everything done. It might sound obvious, but this is the point where you will need to bring on staff if you want your business to grow.

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