startups

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…

Profit or cash – what is more important and why?

Profit or cash – what is more important and why?

This is a question every entrepreneur should know the answer to. The answer is that cash is more important in the short-term but both are as important in the long-term. In the short-term, you can make losses and as long as shareholders have put in sufficient cash into the business,…

KPIs’ for Business – don’t lose sight of the wood for the trees!

KPIs’ for Business – don’t lose sight of the wood for the trees!

I have written before on tips to set up KPIs’ and what the critical KPIs’ maybe. However, something a colleague mentioned recently had a familiar resonance to it. He said he had worked in an organisation which circulated 141 key performance indicators’ and no one bothered to look at them! It’s important…

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…

ROCE and when to use it – return on capital employed

ROCE and when to use it – return on capital employed

What is it? ROCE measures a company’e profitability and it’s efficiency in using it’s capital, both shareholders’ funds and borrowings. The higher the ROCE (return on capital employed), the better the performance. This is why investors like the ratio and investment analysts use it. ROCE should not be confused with…

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…

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…

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!…

Startup funding sources – Bank loans

Do banks lend to startups any more? Probably not is the answer in the current climate. Since the financial crisis, most banks do not lend to startups nor to most businesses they would have before the crisis hit. However, there maybe the odd startup that’s got a business plan and sufficient…

Startup funding sources – Venture Capital

Venture Capital (VC) is the source of equity funding for many startups and also larger businesses looking for their next stage of growth. VCs’ usually fund millions into businesses and should only be looked at when you need millions and when you have exhausted all other sources of funding. VCs’…