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Ever heard of the saying that “a sale is not a sale until the cash is in your bank account?”  If we you were paid for your sales the moment that you made them, you would never have a cash flow problem.  Unfortunately, that does not always happen in many businesses.  Credit is a privilege […]

The cost of employing full-time administration staff is costing you more than you think.  Added to their salaries, you will have to pay them holiday & sick pay; other government taxes; training costs and they will have regular “down-time”.  And don’t forget the overheads associated with it – a telephone; desk & chair; insurances; software; […]

In my previous article, I discussed why it’s important to have a good team of professional advisors on hand to help your business.  This article follows on that discussion. Marketing consultant Many start-up businesses can’t afford the high fees that these consultants charge, but if you do have the cash, good marketing consultants are well […]

Why do you need advisors?  If you’re an entrepreneur, it’s likely that your training is in a specific specialty area. You’re brimming with ideas and very good at what you do.  Your major weaknesses are probably in sales, marketing, management, law, and accounting…in other words, those areas most critical to running a successful business.  The […]

In parts 1 and 2, I discussed the first 4 phases of a typical business lifecycle; from its very first days to reaching maturity. In this article, the last of the series, I’ll discuss typical characteristics of a business that has developed to a stage where its owners are expanding.  I’ll also discuss how to […]

My previous article looked at the traits of a business that has just begun, may be with just a thought, and how it moves into a start-up phase.  This article looks at the next 2 phases as the business begins to take shape and grow, then reaching maturity. 3. Growth phase Your business has made […]

Introduction Businesses form, develop, mature, reinvent or die. Different stages of the business life cycle are associated with different risks and expectations and they may need different management styles and strategies to meet the needs of their customers. Many businesses, that live long enough, typically start with an entrepreneurial seat-of-the-pants management style, and then move […]