Following up on the articles
>>> How To Increase Cash Receipts In A Cash Flow Forecast
>>> How To Get Payments In Advance From Customers
we will look at credit control and the issue of…
There are two issues with collecting the cash for sales made on credit accounts:
This is the first in a series of detailed articles about mistakes made in strategic planning.
>>> 8 Common Mistakes In Strategic Planning And Development
We will look at how strategy and tactics fit together and must be used together if a business is going to achieve its vision or strategic objective.
>>> Your Strategic Objective – Design Your Business To Be Right For You
and you as the business owner are going to achieve your big objectives.
>>> Your Primary Aim Answers The Big Questions In Your Life
Let’s start with some definitions because these two word are often confused. In particular tactics are often mistaken for strategy. [continue reading…]
This is the third marketing tip in a series based on
>>> Being Good At Marketing Isn’t A Nice-If But A Must Have
If you need to find new customers for your business, you need to take a good hard look at your prospective clients and understand:
Following up on the article
>>> How To Increase Cash Receipts In A Cash Flow Forecast
We will look at the issue of getting payments in advance of doing the work from your customers.
One of the fastest way to increase cash receipts in your cash flow forecast is to ask for receipts in advance (although you would ask customers to pay in advance from their perspective). [continue reading…]
It’s easy to see why strategy is important for big businesses but why is it important for business owners as well?
In the article:
>>> What Is Strategy And Strategic Positioning?
I defined strategy as:
“How you achieve your own objectives by winning the hearts, minds and business of customers by out-thinking and outmanoeuvring competitors.”
This puts the emphasis on:
Hidden from view but still important is the fact that you have to do this in a wider economic, political and social environment that may help or may inhibit what you want to achieve.
Boom times make it easier to achieve your objectives. Recessions force you and your customers to up their game or risk finding that they can no longer afford to play it.
Before looking at why owner-managers need to take the time crafting a strategy, I think it’s worth looking at the benefits of strategy to big businesses. [continue reading…]
Neuromarketing uses the latest research into neuroscience to gain a better, deeper understanding of how the human brain works and makes buying decisions.
With this book, “Neuromarketing: Understanding the Buy Buttons in Your Customer’s Brain” the authors, Patrick Renvoise and Christophe Morin have written an extremely easy-to-read and thought-provoking book on how you can take advantage of the way the brain is structured to influence your potential customers to buy.
It’s often been said that “people make buying decisions emotionally and justify the decision rationally.”
That’s partly true. [continue reading…]
This is the second marketing tip in a series based on
>>> Being Good At Marketing Isn’t A Nice-If But A Must Have
You need to see your old, lost and lapsed customers as a potential source of profitable opportunities (assuming that you didn’t part on really bad terms).
I talk about what is a customer in my article…
There are only three reasons why customers stop buying: [continue reading…]
You are the owner of a business and you’re worried about how it is performing. Things aren’t going right but with some luck, they might get better.
When is it time to call in a Profit Expert?
When is the right and best time to ask for external help?
In his book “Red To Black in 30 Days”, Allen Bostrom has this definition for a profit expert… [continue reading…]
Every business should know where it is going and, if it is big enough to have a senior management team rather than one dominant entrepreneur and owner, that usually means putting together a strategic plan.
Preparing a plan does not guarantee that it will be fit for purpose and in another article I look at the common mistakes.
>>> Common Mistakes In Strategic Planning And Development
The problems of strategy failure don’t stop at the risk of creating a bad plan.
A good plan won’t be worth anything if it isn’t implemented.
This is where it does get more difficult since you have to provide leadership to get your staff, customers and suppliers to take action. [continue reading…]
Many years ago I was told the banker’s mantra and it’s always stuck with me as the explanation for why all businesses need effective financial control.
Turnover Is Vanity, Profit Is Sanity But Cash Is Reality
Read it in, learn it and take it to heart.
It contains one of the core secrets to long term business success.
I was a consultant, small business coach and advisor based in Birmingham, with over 35 years business experience, including more than 20 years as self employed.
My main business qualifications are:
– Chartered Accountant
– MBA
– Certified Guerilla Marketing Coach
My main interests are in helping business owners who are stuck get unstuck by thinking more clearly about their issues and possible solutions.
I no longer provide professional business coaching but I will be sharing more ideas on my blog and will continue my popular business book reviews.
I can be contacted by email at Paul@BusinessDevelopmentAdvice.com
The Six Steps Profit Formula
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