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Time to Write Your Business Plan – And Here’s How!

Time to Write Your Business Plan – And Here’s How!
Did you know that 8 out of 10 small businesses close down within the first 5 years of opening? But do you know what's worse? Of those that survive, less than 25% rate their businesses as "successful". More than 70% of small businesses who have existed for more than 5 years say that they are "struggling" or "surviving". How would you like to spend the rest of your business life struggling or surviving? (more…)...
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10 Tips to Avoid Insolvency

10 Tips to Avoid Insolvency
It is a tough world out there for small business at the moment. Interest rates are bottoming out yet not much consumer spending is being seen. Here in Perth, iconic restaurants and pubs are closing down, strip shops are empty, fashion labels are rationalising their stores and outlets. While we cannot succumb to all this bad news, and we must look forward to our continued success in business, nevertheless you cannot simply ignore what's going on. No matter how many times you visualise success, if you don't do something tangible, those problems are going to come and get you. (more…)...
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Creating An “Advisory Board” For Your Small Business

Creating An “Advisory Board” For Your Small Business
In larger companies, establishing an Advisory Board is becoming more commonplace as these large businesses seek to add to the value and experience of their Board of Directors. This is a trend that can also be of great help to a small business, whether you are operating as a company or not. Most of my clients and readers run family-owned companies or husband and wife operations. Their Boards of Directors are usually the owners. While this provides control of ownership, it does not provide these businesses with fresh perspectives on strategy, reaction to economic trends, specific industry or geographic experience as well as on markets and legal and legislative circumstances. Knowing your business in and out is great - but think of the added value of a pool of new minds that have a different and fresh perspective on the wider business world. (more…)...
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How To Get People Ready For Change

How To Get People Ready For Change
When I started consulting to businesses over 25 years ago, no matter how small a business, a restructure of the way a business conducted business took place about every 6 years on average. In a 2018 survey of Small and Medium Enterprises, a restructure every 3 years was more typical. In fact in some industries, some restructure process happens every year. Since these restructuring processes can incorporate anything from changes to business units to changes in procedures to specific performance improvement projects, they can affect every person in a business. This is incredibly challenging for employees in every sector. (more…)...
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