Marketing is a major player in gaining prospect attention, building product or service demand and winning customers.
For the average small business owner, they operate on a “no-frills” budget and often find a wide variety of excuses for neglecting their marketing, I often get comments that it is just something that they cannot afford. Although it is true that marketing is an expense that can be reduced or cut, but this then leads to the question “without marketing, how do you propose to gain those much needed customers which will equal sales?”
The old saying you have to spend money to make money. If you do not effectively market your company, brand, image and products or services, you won’t be in business for long.
Think Outside the Box - Innovation
ARE YOU an innovative Business Person? If you answered NO to this question then you are wrong - Everyone can be innovative. Incorporating innovation into your business can help you save time and money, and give you the competitive advantage to grow and adapt your business in the marketplace.
What is innovation?
Innovation generally refers to changing or creating more effective processes, products and ideas, which in turn can increase the likelihood of a business succeeding. Businesses that innovate and create have a more efficient work process and have better productivity and performance.
For businesses, this could mean implementing new ideas, creating dynamic products or improving your existing services. Innovation can be a catalyst for the growth and success of your business, and help you adapt and grow in the marketplace.
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Cash Flow and Your Budget
Having cash flow problems? Not knowing your numbers? Not knowing your profit and loss? There is one solution that can help you gain better control - Budget!
Okay, so you have just purchased your business or have a small business and you know your sales income but when it comes to bookkeeping or (more importantly) budgeting you skills are lacking? Well I've got good news for you, it isn't really that hard!
Budgeting is all about estimating and matching expenses to revenue. If you don't have this, then how are you supposed to know if your business adventures are paying off for you? The revenue you create pays the expenses that you need for your business to run.
To put it simply:
High Expenses + Low Revenue = Losses - No Profit
Matched Expenses + Matched Revenue = Break Even
Low Expenses + High Revenue = High Profit
Not Knowing your numbers = Not knowing your business
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Time For Change
Changing Habits, Changing Outcomes!
In my years of business coaching I have had numerous amounts of people come to me and say that they need to change the outcomes of their business. They have no idea where to go or what to do next. I ask them what they have done so far to help change the outcome and they usually list things that a typical business would say; marketing more, setting goals, reviewing their budget, looking at what their target market is interested in etc.
But, what they haven't said is their habits!
So, the first step to changing your outcome is knowing your bad habits. This can be things such as:
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