When your business has lost its competitive edge, it’s time to take a long, hard look at your product, credibility, and most importantly – what your customers think and want. Taking the first step to reflect on your business and make necessary changes can be quite confronting for some business owners, but according to Michael […]
Your potential customers will question you or your product before deciding to commit, but most startups don’t realise that they should do the same. [Related: To succeed, you’ll have to reject customers that aren’t the right fit for your business] What do you do with a business idea? Many entrepreneurs turn to their family and friends […]
As an advocate for small businesses in Australia and New Zealand, MYOB regularly asks SME owners what they are thinking and feeling about the economic landscape, government policies and generally what they want for the year ahead. Small businesses are the backbone of the economy so their mindset and well-being has a huge impact on the […]
January is a time for reflection, marking the end of a busy 2016 and heralding an exciting new year. It’s important to use this time to recalibrate your business’s thinking on customer service and plan service goals and objectives for the year ahead to grow and retain your customer base. Questioning your company’s emphasis on […]
A business can be like a leaky bucket. Marketing teams work constantly to pour new customers in the top, spending time and money on campaigns, but if there are holes, customers are always going to leave and need to be replaced. Of course, this is not the functioning of an ideal business model; ideally new […]
We all know how important it is for a business to master great customer and stakeholder communication through all touch points. If your interactions have a positive impact, you’re more likely to create repeat customers and gain access to the ‘holy grail’ of sales: referrals to others. Get it wrong, however, and it won’t matter if your business offers great products and […]
Startups that fail to exercise resource parsimony or understand the job their customers want to get done will not survive against larger companies and risk falling afoul of investors, a prominent strategy expert has warned. In Sydney last month to participate in the World Business Forum (25 to 26 May), Rita McGrath, a professor at […]
Being a business owner involves ensuring that the workspace provided for employees is safe at all times. When the business that is owned is some type of retail center, the responsibility for providing safety extends to protecting the consumer. A variety of safety hazards can arise in almost any situation, in ways that may not […]
If you’re looking for ideas to promote your company’s products and boost overall sales, then a seasonal marketing campaign is an effective way to attract both new and repeat business. Consumer buying patterns are greatly influenced by the changing seasons, religious holidays and other special occasions, and being able to make the most of buying […]
It’s not always what you do but the way you do things in business that secures your place in the market and a loyal customer base. The mistaken belief that you have to reinvent the wheel will only serve to make your experience more overwhelming and limit your options. “They think they have to come […]
