While clients are important, not all clients are alike. Classify your clients to help you understand which groups represent the most value to your business and will help you identify your most profitable segments with target services and communications.
Read MoreTopics: Business Improvement
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
