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Managing for Growth

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Key Performance Indicators : Identifying and Using KPIs
'KPI' stands for Key Performance Indicator. They are measurements used by a business to drive performance. There has been increasing interest from business owners and managers about how to set effective KPI's. Here we discuss the 5 basic steps you need to take....More
 
Collateral Damage: How To Cut Through the Clutter of Competition
How do you effectively capture your “voice” and communicate your message about your products or services? Generally, if you begin with the ‘benefits’, you’ll find your message is far more convincing than if you promote ‘features’. Here we give a few examples of how you can start with writing more convincing copy....More
 
Saving On Costs Can Be Just As Profitable As Selling More
You may be surprised at how much you can improve your profits if you spend a little time looking at your costs. A small reduction in costs can often achieve a better result on your bottom line than a large increase in sales and, in some cases, can be a lot easier to achieve. Here we discuss the two types of costs in business - Direct Costs or COGS (Cost of Good Sold) and Indirect Overheads....More
 
Systems = Sanity
A major challenge for any business owner is how to get others to help run the business, so that it doesn’t completely take over your life. You can look over everybody’s shoulder all of the time, do most things yourself… or you can invest in systems to free yourself and make life easier for staff…as well as yourself....More
 
10 Tips To Get Your Customer Database In Order
A well-maintained customer database is a valuable business and marketing tool. Here are a few simple ideas you can use to improve your customer database. Topics covered include basic database structures, cleaning up your database and how to reward your customers....More
 
Why Profitable Businesses Can Go Bust!
Cash is more often than not the reason why so many businesses fail. Profits can’t be spent until they are collected. Obviously it’s important to sell at the right price and create the maximum amount of both gross profit and net profit. If you don’t focus on collection though you’re business won’t last very long. Cash is the lifeblood of any business, and if it isn’t flowing at the right place at the right time, this can cause real headaches for the business owner. Here we discuss how you can get the cash moving back into your bank account quickly....More
 
Superannuation Obligations
Employers must contribute to an employee's superannuation fund. This factsheet outlines employers' super obligations and for your convenience, we’ve included links to our small business directory to put you in touch with superannuation experts....More
 
Growing Your Small Business Online
More and more consumers are going online to research and purchase goods and services. From booking accommodation, researching travel destinations, buying music and clothing to ordering flowers and finding real-estate, the internet is fast becoming a mainstream destination for consumers. This trend represents a world of opportunity to generate new revenue, grow your business online and capture new customers. Topics covered include: online business, internet business, business website, online marketing and e-business....More
 
Six Steps to Avoid Bad Debts
How well you do your debt collection can make or break your business. Every business has different methods and issues. Here we discuss some of the key factors and important steps in running a successful Debt Collection process in a typical business. For your convenience, we’ve included links to relevant business services and suppliers in our business directory who can help....More
 
Work In Progress and Working Capital
Work In Progress Days (WIP Days) are the number of days, on average, that jobs are in progress prior to invoicing. When you’re in a service business, WIP Days is a vital number to be in control of. Here we outline how you can calculate WIP Days and how a good job management system can help you manage them....More
 

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