Small business

Coping with Uncertainty – Strategy & Scenario Planning

Coping with Uncertainty – Strategy & Scenario Planning

Life is uncertain and yet we manage, usually with optimism. However, when it comes to business, our attitude is different. We want security for our business without political and economic turbulence but this has never been the case – either markets, politics or the competition has nasty surprises in store.…

Competitive Advantage – how to gain it !

Competitive Advantage – how to gain it !

The key factor in maintaining long-term viability for any business is having a competitive advantage. Probably the best book written on the subject is ‘Competitive Advantage – Creating and Sustaining Superior Performance’ by Michael Porter in 1985. Essentially it boils down to 2 factors – in summary you win by…

Growing your business – 3 Key Tips

Growing your business – 3 Key Tips

There comes a point when entrepreneurs/founders want to expand and grow their business, be it adding a new service/product, opening a new location or adding staff to grow existing services. I would recommend 3 key tips for businesses to consider before embarking on a growth phase. 1. Planning for growth…

Keeping an eye on the figures – 3 Key Tips

Keeping an eye on the figures – 3 Key Tips

Managing a business isn’t easy and if you don’t know anything about finance, it’s a sure-fire way of running into trouble. The first thing any entrepreneur or manager has to learn is how to understand some basic finances. Once you learn the basics, it is critical to add to your…

3 Key Traits of Successful Entrepreneurs

3 Key Traits of Successful Entrepreneurs

I have been fortunate to meet several entrepreneurs in my career. However meeting three successful ones recently and discussing how they developed their respective businesses, made me conclude that they have similar traits that make them successful. Here are my conclusions on the 3 key traits it takes to be a…

Funding pain remains for startups and SMEs’

Funding pain remains for startups and SMEs’

Raising funding for startups and small and medium-sized enterprises (SME) or even large projects is still a difficult and painful process out there. I had a long discussion with an experienced consultant recently who works with tech startups and his prognosis for the smaller end of fund-raising circa £250,000 was…

Making your Business tax efficient

Making your Business tax efficient

One of the first things entrepreneurs get advised is to make their business tax efficient. It is a minefield for businesses and hiring a good tax adviser or accountant is paramount but here are some tips that help in ensuring that your business is tax efficient. 1.  Difference between tax avoidance…

Celebrating Success – why it’s important in your Business

Celebrating Success – why it’s important in your Business

How many times have you celebrated achieving goals in your business with your team? Once a year, once in two years? Or is it more? If you celebrate success more than once a year, you’re probably on the right track. We all get sucked into the daily grind and pay…

Networking to increase business – Top 10 tips

Networking to increase business – Top 10 tips

Networking – it’s what most of us fear before we gain experience. Even those with experience aren’t experts. We can keep on learning. Networking is essential for a startup founder and also for established businesses to grow their business. I started my own consulting and part-time FD business 10 years…

Free Cash Flow and why it’s important in your Business

Free Cash Flow and why it’s important in your Business

Free cash flow is a financial indicator that is favoured over ROCE, ROI and other ratios to gauge a company’s health. So it’s important for entrepreneurs to understand how important it is in their business. Free cash flow is how much cash is left in the business after all running…