You may think Key Performance Indicators (KPIs) are tools used only by the biggest businesses, however even the smallest business can benefit from implementing even some basic KPIs into their business. In fact, the way you manage your team, you may already have a few KPIs in place without even realising it.
Help grow your business through collaboration, expansion, improved marketing and some of the following quick tips.
Small businesses can grow in boom times as well as periods of difficulty by working smarter and taking advantage of opportunities. Put these following effective tips into practice to help grow your business.
Even with cash available, financing the purchase of an asset could be a great option if your cash-flow can support it, because I bet there are other things you could do with your cash.
Maintaining positive cash flow can be challenging for small businesses, whether you’re just starting out or have been running your business for years.
Your Profit and Loss is more than just numbers on a page, and if you were to really examine it you will find it provides some really valuable insights into your business. It's often surprising how much you can tell about a business from it's numbers.
Steady, reliable cash flow is crucial for the survival of any small business – so taking steps to ensure your customers pay promptly should be a key priority.
If you’re buying or selling a small business, it’s critical to know what the business is worth. The challenge is that what you think a business is worth, and what the person on the other side of the fence thinks it is worth, are usually two different figures.
Profit margins are fundamental to business success and growth. How you choose to increase your margins so your business can achieve sustainable development is up to you – but taking small steps on a regular basis will help keep your customers on your side.