Growing Your Business
Marketing
You have your products or services, now how do you get them out to potential customers? By putting together a comprehensive marketing budget and learning which types of advertising and promotion will work best for you, you'll have no problems attracting new customers.
Payroll
We all know how important it is to receive your paycheque on time, so it's important to remember this when you're the one handing out the money. Here are a few things that may help keep your payroll system running smoothly.
Working Capital
While it's important for your business to have a positive cash flow, it's not always easy - especially if your business is expanding. Learn a few things that will help ensure you have the working capital you need.
Capacity Planning
Ultimately, all businesses want to prosper, and this often means expansion. Look toward the future and make sure that you have the facilities and the employees to accommodate these changes.
Establishing a Sales Force
Becoming an employer isn't always as easy as it sounds. To find the right person for the job, you need to know what to look for and where to look. We have some advice to help you choose employees that are just right for you.
Distribution
It's important to find the best method of getting your product or service to where your customers can access it. It's equally important to find a secure way to get the supplies you need to operate. Here are some hints that may help.
Accessing External Markets & FX Considerations
There is a great deal of money to be made by reaching out to foreign markets. There are also important considerations to be made in choosing the appropriate markets and protecting your business against fluctuations in the Foreign Exchange Rate.
Technology Considerations
Almost every business involves technology to a degree. The internet is becoming more and more vital for businesses these days. Make sure you have the technology you need to be competitive, without going overboard.
HR Issues
If you started your business by yourself, the decision to hire extra help could bring problems. It can be hard to delegate authority, but it is a critical step in the growth of any business. Here are some things that may help.
Alliances
Sometimes two heads are better than one - especially if they both have unique skills that complement each other. Forming alliances can improve the products, services and customer base of any business. Think about it.
R&D
Make sure you do as much research and development as possible, even if your business is making a good profit. There may be taxes you're unaware of or ways to cut overhead costs. It always pays to do research.
New Markets
Once you've felt the excitement of success, it's natural to want to expand and increase your market. Before you do, take the time to make sure you're ready to open your business to any new market.
Staying Ahead
The world of business is an unsteady one. As hard as it is to get to the top, it's just as hard to stay there. Always keep an eye on the competition and make sure you make the right moves to stay ahead.