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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…

How to deal with failure in Business – 5 Key Tips

How to deal with failure in Business – 5 Key Tips

We all make mistakes. It’s a fact of life. The key to success is how we deal with failure and overcome the negatives. Whether it’s a business startup or your business hitting a recession, failure can be painful. In business, failure can be even more difficult to deal with. Or…

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…

Why startups fail – 5 Key Reasons for failure and how to overcome them

Why startups fail – 5 Key Reasons for failure and how to overcome them

Startup failure rates are enough to put any budding entrepreneur off – in the UK it is estimated that 2 in 3 businesses fail in the first 3 years and from the Department of Trade and Industry figures, stats show that 70% of businesses fail in the first 10 years!…

How to Startup a Business – 5 Practical Tips for Success

How to Startup a Business – 5 Practical Tips for Success

Advice on how to start up a business has been written about almost every day and the advice follows the usual steps. 1. Come up with the business idea 2. Research the market for the product or service 3. Write your business plan along with your forecasts for the numbers…

4 Top Tips for Negotiating in Business

4 Top Tips for Negotiating in Business

Every entrepreneur and business manager has to learn the skill of negotiating at an early stage. Not everyone is an expert from the start and it takes time and a few hard lessons to get there. Here I will stick to my experience of business deal negotiations. The easy way…

How to evaluate projects and investments – NPV vs IRR

How to evaluate projects and investments – NPV vs IRR

Every business at some stage has to evaluate projects or investments and choose the ones that will benefit the business most. Usually, it will be faced with a limited budget and spending this capital wisely is critical. This process is called capital budgeting and the most used decision making tools…

3 Key Business Goals to set for your business

3 Key Business Goals to set for your business

Starting a New Year, every business, well maybe almost everyone, will set goals for the new year. Planning and setting business goals for most is an annual event and sometimes it’s called a budget! However, I want to recommend a different course in setting your key business goals. It maybe…