Sales is about addressing your customers’ needs and problems. By understanding the issues clients face, you can show them how your solution solves their problem.
Risk tolerance, time horizon, and asset allocation - you've dealt with these factors for a good part of your life, but now, in the face of retirement, they take on a more urgent and significant role. These factors - particularly tactical asset allocation - are vital to maximizing your assets before your retire in a few years' time.
When you own a small business, it’s vital you understand how money flows into and out of it. At a basic level, you need to know where your income comes from and what your expenses are. At a deeper level, knowing how money moves through your business can help you make strategic decisions about growth, invoicing, and debt management. The consequences of not understanding money can be drastic—poor financial management is one of the main reasons businesses fail.
Very few business owners have the means to operate without borrowing at start up, or later on when it’s time to invest in growth.
There are some things in life that go together well and others that definitely do not. Business and personal finances are in the category of items that should not be mixed. Although it may seem like a headache to keep them separate—who wants to manage all those bank accounts?—your life will be greatly simplified once you separate your personal and your business finances, especially your expenses.
For many small business owners, hiring workers on a flexible basis is ideal – especially if paying regular salaries isn’t in the budget and/or the workload is variable.
The holiday season is once again here, and with it comes time to relax, focus on family and friends and take stock in what is really important in life. Unless you’re a small business owner. Every small business owner knows that being away from the office can be just as stressful as being in it.
Every businessperson knows that not all customers are created equal. Some customers are loyal, while others will stray if they're offered a slightly lower price elsewhere. Some clients are demanding, while others only call when they wish to place an order.
“How much should I spend on marketing?” Most small business people ask me this question at some stage. Many small business people find working out how much to spend on marketing a tricky exercise to calculate.
Generally there are five ways to work out a marketing budget for the year. Remember that these are marketing budgets, not advertising budgets. Marketing covers everything you do in your business that creates awareness, including such activities as advertising, brochures, competitions, free tastings, demonstrations, trade shows, travel, personal selling, direct mail, sponsorships, etc.
Topics: Firm News