If one of your customers is at an industry lunch talking with other business owners, will your customer say anything about your business? Will it be positive or negative, or will they say nothing at all? They might be comparing your business with similar businesses that people are talking about too.
Read MoreTopics: Business Improvement, Business Planning
Business owners (especially those who are operationally involved) try to ensure managers’ goals are aligned with their own. If they are aligned, the prospects for the business are much more attractive because everyone is pulling in the same direction. Ideally, everyone should have ‘skin in the game’ so that livelihoods are tied to the success of the business.
Read MoreTopics: Retirement Planning
Do you know what the break-even point is for your business? Your break-even point is the level of income needed to cover your costs.
Read MoreTopics: Business Improvement, Business Planning
A ‘trading name’ refers to an unregistered name that businesses could use before the introduction of the National Business Names Register on 28 May 2012. It is not a registered business name.
Read MoreTopics: Business Improvement
There was a time when cars didn’t have a fuel gauge. That meant you had to understand the size of your fuel tank, remember when you last bought fuel (and how much) and estimate the distance you’ve travelled since filling up.
Read MoreTopics: Business Improvement, Business Planning
