Taking on the family business legacy: becoming the successor
Assuming the mantle of the family business is a significant honour. However, leading a family legacy and advancing it can be a complex undertaking. The previous generation has safeguarded this enterprise for years and will want to hand over its future to a competent and trusted leader—someone who will continue their hard work and carry […]
Managing change in your business
Research conducted by Kotter International reveals that over 70% of business change initiatives fail. The question arises: why?The findings suggest that employee engagement is the most significant factor. Whether a minor change affecting a few processes or a comprehensive transformation across the organisation, employees often feel overwhelmed by the prospect. So, what steps can be […]
5 ways to improve the governance of your family business
Running any business is a challenging endeavour. However, when you add the complexities of a family business, matters can become even more intricate – and often personal. In a family business, you’re managing more than just professional relationships. You must also navigate close, personal connections alongside the unique dynamics that come with multiple family members […]
Key ways to access funding for your business
If you’re planning to fund a new business, you’ll need enough startup capital to get this venture off the ground. And once you’re up and running, you’ll need additional business finance and investment at each stage of your growth and expansion along the business journey. But where does this business funding come from? And what […]
8 ways to save time (and money) in your business
Like everyone, business owners are always looking for ways to save time. Every minute spent on admin or fixing mistakes is a minute that could be spent on business-building work. When time really is money, it’s worth finding ways to reduce those tedious and repetitive tasks – and technology is the answer. 1. Better billing […]
How running a lean business model improves your cashflow and efficiency
Keeping your operational expenses under control, while also remaining efficient and meeting customer demand can be a challenge – one that can catch out many new business owners. This is why running your enterprise using a lean business model is such a good idea. By keeping operations, stock and processes to a minimum, you reduce […]
Do you need to improve the cash flow position for your business?
Keeping on top of the financial management of your business can be hard work. It’s possible to have a profitable business that is struggling to find the cash flow to pay expenses and fund growth. Likewise, you could have positive cash flow but are not turning a profit, particularly if you are scaling. Turning a […]
Stepping back: Do you have an exit strategy for your business?
Owning a business can be brilliant, but you might not want to do it forever. Whether you’re ready to retire, want to cash up, or you just need a break, at some point you will probably want to move on from your business. Even before that time comes, you’ll need a plan for stepping back. […]
Could outsourcing help you grow your business?
When you run a small business, the amount of work can ebb and flow. Unexpected busy periods can often create too much work and stress; overloading a small team or one-person business. But if a surge is seasonal or unreliable, it can be hard to commit to taking on another employee. One solution that many […]
Fundamental Three to Successfully Scale Up Your Business
There are three fundamentals to successfully scale up your business: having a clear organisation structure, having comprehensive systems, and developing great leadership. Heard the quote, “What got you here won’t get you there”? These are wise words (and the title of a book you should read!) are from Marshall Goldsmith. Choosing to scale your business […]
