Explore our tips on how to increase profits and keep more cash in your business. Enter your details below and sign up to our course, which also includes FREE template to help you plan your strategy. […]
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Running a successful business is a juggling act between cash coming in and cash going out. If you’ve built up a cash reserve, you’ll be better able to stay in business and handle short-term issues like falling sales. Build a cash buffer Businesses generally fail because they run out of cash. Cash in the bank […]
If you’re in retail, there’s money to be made online and it’s important your new business finds its place in the online market. Survey your regular customers Many retail businesses are now offering online shopping features. Their keys to success involve measuring the market first to make sure their time, money and effort bring about […]
Taxes – there’s no avoiding them. But there are ways to reduce the amount you have to pay so that your business is more profitable. All it takes is some preparation, planning, and the advice of a good tax specialist. So one of the first things you need to do is talk to your accountant […]
Cash flow – the lifeblood of any business. The aim of any business owner is to have more cash coming in than is going out. You’re in business to make money, and one of the most effective ways of doing this is to examine your cash flow and look for ways to improve it. You’ll […]
Is it time for your business to invest in some new equipment? And if so, is it a smarter business decision and more cost-effective to hire or buy? Why you might need new equipment The right equipment can enhance your processes, productivity, capacity to innovate, and bottom line, but should you buy now or wait […]
If your customers owe you money, the faster you’re able to obtain it using effective collection tactics, the better. Ideally, you want to reduce the chance of bad debts and pressure on your business’s cash flow. It can be easy to neglect managing your debtors when you’re busy growing your business, but smart credit control […]
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Depreciation is basically a reduction in the value of an asset over time. What this means for your business is that if you buy a substantial asset like a computer or a car, you can claim a certain amount of the loss of value over time as a business expense. It’s also a method of […]
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Online distribution frees you geographically. Where you might have been selling your product or service locally, opening an online distribution channel means you can sell it on a global scale, which is an effective way to grow your business and boost your brand. Identify what you can sell online You’ll have an online presence with […]
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 An efficient payment policy is a vital part of building a strong, trust-based relationship with […]
Once your business is up and running, it’s important not to rest on your laurels. Successful business owners are always looking at ways they can grow their business and maximize their profits. We’ve put together a guide and checklist that can help you identify ways to get the most out of your business. 1. Grow […]
Growth has its risks but a well-designed strategy can deliver stability, security and long-term profits. When it comes to expansion, it’s not always necessary to borrow money. You’d be surprised how your own internal resources can be maximized to provide at least some of the cash you’ll need. An important step is assessing the current […]
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Both cross-selling and upselling can be useful methods for increasing your business’s sales. But there are also genuine benefits for your customers. They’ll appreciate being offered an item that either complements or adds value to their original purchase. The art of cross-selling Cross-selling is the art of convincing your customers to buy a complementary item […]
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What exactly is profit in a business? This article shows you how to avoid three common profit mistakes that can seriously affect the success of your business. 1. Sales are NOT profit The biggest beginner mistake is assuming that sales are profit. People new to business can easily confuse sales with profit, but there is […]
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 flows from sales deliver little profit. What exactly is cash flow? A cash flow forecast […]
Gaining larger profits depends on accomplishing all the little things better – rather than making one huge change. You’ll need to focus on every little detail to reduce your expenses and increase your sales turnover over the coming 90 days. Decreasing your costs For most small businesses, the easiest way to increase profitability is to […]
It’s important to identify and monitor the key drivers of your small business to boost profitability and cash flow. Boost profitability by recognizing your key drivers Identifying the key drivers of your business is critical to boosting profitability. A key ‘driver’ is something that has a major impact on the performance of your specific business. […]
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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 steps to successfully franchise your business with a view to leaving it behind at some […]
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Profit margins are fundamental to business success and growth. How you choose to increase your margins so your business can achieve sustainable development is up to you – but taking small steps on a regular basis will help keep your customers on your side. Increase margins gradually It’s vital you keep a close eye on […]
Use the Profit increase calculator to test different ways you could improve profit in your business. Download the Profit increase calculator […]
