If you don’t know your competitors back to front and you don’t know where your customers are coming from and how they feel about your service, then it’s impossible to make informed improvements to become more competitive.
A good strategy is the foundation of any successful business, but getting that strategy ingrained in your staff’s minds is easier said than done. Better yet – why not include your staff within the strategy development process? They could very well have insights and ideas that strengthen what you have in mind.
This year is shaping up as yet another difficult one for SMBs, but there are a few easy ways to stay ahead of the game and avoid the roads that lead to insolvency.
Strategy is the ‘how’ you are going to achieve the outcome. Objectives are ‘what’ you want to achieve. The plan is the step-by-step ‘actions’ you are going to take to get there. How’s your business strategy looking?
The end of the Second World War led to the start of the great Australian baby boom, when many of today’s leaders and business owners were born. Today, these same baby-boomer business owners and CEOs nearing retirement are faced with a burning issue – to whom should they hand over the reins?
Brad Callaughan looks at an area many small businesses fall down – planning.
“Lack of planning or direction can be the cause of your demise. If you aren’t looking at where you are going, how can you see opportunities or threats or be prepared to deal with uncertainties like cash flow or profit fluctuations.”
Not something we want to think about too often, but still a part of the “admin” of our lives: planning for our demise is especially important for business owners, though it may be last on the list of things to do. Blogger Rick Mapperson offers some advice for small businesses.
About 80 percent of all businesses in Australia are family businesses. Yet being in a family business isn’t easy, with a skills shortage and corporatisation to face. So read on to find out about successfully running a family business. A study by RMIT University shows that $1.4 billion will change hands in the next decade, […]
Making sweet-tooths see an old favourite in a new light may not be the same as reinventing the wheel, but for Ann Cummings it’s a way to keep Newcastle’s Pudding Lady, a seasonal business, busy year-round. Talking to Ann Cummings one week from Christmas, you’d be hard-pressed to catch her at a quiet moment. As […]
While many visual artists set their sights on becoming the next Picasso, not so many have a passion for business planning and export. Miriam Cabello, on the other hand, knew she wanted to export art to the world from the very start. As a result, Cabello’s business plan for MLC Gallery reads like a manual […]
You have reached the end!
