When it comes to achieving high efficiency and reducing costs in business, the principle of economies of scale is what we need to understand, and then plan for it. This concept applies to all sorts of businesses - be they sole traders, LLCs or not-for-profits. It also...
One of the problems, if not the biggest, that most business owners have when it comes to planning their future, getting more customers, figuring out the costs and making money is not taking into account all the important bits and pieces. That’s where a Business Model...
There are Five key numbers for pricing for profit Pricing for profit Wondering how to price your products or services so you can make a profit? You're not alone. Figuring out the right price is one of the biggest challenges business owners face. That's why it's...
BREATHING leads to business success. Do you want to know what it takes to be successful in your business? If so, then I've got something for you. In this video, I'm going to outline the ingredients that will help you achieve success in your own business. It's a blend...
Have you ever wondered how to spot and fix overtrading? If so, then this video is for you. Over the next few minutes, I'm going to show you how to spot and fix overtrading in your business. So, let's get started! Are you looking to grow your business? If so, then it's...
How to avoid undercapitalization and what it is, is this weeks video and blog. It’s when you run out of money, and the company hits a financial brick wall. This video will cover what it is, why it’s a problem, and how to avoid it. The reason why so many small...
Why cash is important for your business is this week's topic. In previous videos I've looked at turnover and profitability, but this time cash is in the spotlight. I will look at Why cash it is the key financial number in your business. What cash is Why cash is...
How to deal with the risks of self-employment Risks are all around us, dealing with the risks of self-employment is no different. Are you working for yourself, are you thinking about becoming self-employed, and want to know how? As with any change in life there are...
A Community Interest Company (CIC) fills the gap between social enterprise and traditional for-profit business. Furthermore, it's designed for those with an interest in solving social problems. Taking on public contracts as well as private ones. It gives you more...
Do you want to know How to change your attitude towards money in your business? It's natural to be thinking about money, talking about money, and planning what you're going to do when you make money. But let me ask you a question! How often do you look at your...
Should you be a sole trader or a company? You might think it is just about the name, but there are many other things to look at when considering whether you Should you be a sole trader or a company?. The choice will impact on many areas of your business, for example...
How to take your business seriously Most importantly there is no magic bullet to make your business successful. Don't treat your business as a hobby, it's more than that. Run it, deal with it and approach it as a business. Business or hobby? Firstly, what’s a...
Most importantly, self employment is a risky business, but what in life is risk free ? Certainly, a great number of individuals dream and think about being self-employed, your own boss, your own path. Many do make that move from dream to action, for most this proves...
The first Coronavirus furlough grant claim portal went live on Monday 20 April 2020. What does that mean for your business. Well, it means that if you have furloughed staff, you can claim that much needed grant money. We have submitted Furlough claims for all our...
Writing your business plan Writing your business plan is a smart way to map out your future business story. Loads of businesses don’t bother writing one, and then again loads of businesses don’t survive and thrive. A good business plan focuses the mind, brings...
Not for Profits In this blog I am going to look at the why Not for Profits doesn’t mean Not for Business. To clarify, businesses are typically classified as Private or Not for Profit . Above all , a Not for Profit Business includes many Art Organisations, Charities, Community Interest Companies (CICs) and Social Enterprises. […]
Budgets: Setting Targets Budgeting involves setting targets. Clear targets motivate people to high performance levels. Budgets are your stories of tomorrow. They show choices, aims and objectives. Targets are typically shown in terms of money, i.e. income, costs and...
Firstly, the art of budgeting is quite complex. A budget is a plan expressed in money. It tells your future story in monetary terms. Secondly, budgeting is one of the most powerful business and management tools around. It plays a key part in planning, control, and decision-making. Plan your budget Firstly, decide who is going […]
The importance of record keeping In this blog and video we look at Why record keeping is key to your success . Bookkeeping, or keeping financial records is vital. More importantly you need to know what you are spending. You need to know where your money’s coming from. Making good judgements when you have complete […]
Making money is what business must do! Most importantly, where we say business, we mean private or not for profit. Likewise when we say money, we mean profit. Furthermore, don’t dismiss: • How you make that money • What your business values are • The amount of money you want to make; and what you […]
Have you ever wondered what TRUST has got in common with credit control? Furthermore, why is TRUST in business so important? “If people like you they’ll listen to you, but if they trust you, they’ll do business with you.” Zig Ziglar. As a matter of fact, the concept, idea and practice of TRUST is a […]
Business success Firstly, business success, and how you achieve it is often talked about. So, this blog will look at what helps you get business success. What is business success to you? In the beginning you need to think about what success looks like to you. Furthermore, you need ask this question in advance of […]
Tax-free benefits for you and your employees Certainly paying tax-free benefits to yourself and/or your employees is a great situation. Most importantly there is no tax or NIC to pay. In addition, your company can deduct the costs from business profits. Above all the benefit must be paid for. In other words, don’t provide the […]
Management reports: What’s best practice? Firstly, effective decision making requires Effective Management Accounting Reports. Management accounting tells your business story on a more regular, efficient and informed basis. For this reason you should design the layout and content of your management accounts to provide the most useful data to enable good business decisions. So when […]