Often a reduction in interest charges as well as significant cashflow improvements can be achieved with a regular review of existing debt. A good place to start is to list all bank loans, mortgages, finance company loans, hire purchases, credit card debts, and any other debts (don’t include amounts owed to suppliers in this list). […]
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Often a reduction in interest charges as well as significant cashflow improvements can be achieved with a regular review of existing debt. A good place to start is to list all bank loans, mortgages, finance company loans, hire purchases, credit card debts, and any other debts (don’t include amounts owed to suppliers in this list). […]
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Businesses that follow a documented sales process generate more revenue. What’s your process? How do you ensure your team provide a consistent customer experience? Businesses that follow a documented sales process generate more revenue. Prospective customers should receive the same service no matter which member of your sales team they deal with. A documented sales […]
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The endless pursuit of new customers to grow a business often distracts us from looking after our existing customers. And there we create a potential downward spiral of more spending on marketing, more existing customers neglected and less sales to existing customers. The wrong answer? More marketing spend, more neglected customers, perhaps a reduction in […]
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Carrying stock for too long means full shelves but an empty bank account. Similarly, if you’re a service provider and are taking forever to bill for your services, then you’re carrying too much stock in the form of work in progress. Consider that work in progress as a form of virtual stock. You can calculate […]
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This isn’t typically a place where you will find a lot of wastage. Our experience is that business owners are very careful about managing their expenses, and the smaller the business is, the truer that statement is. Having said that, as a business grows, so do the layers of hierarchy. Management control can deteriorate, and […]
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