What is the end game for your business? Succession is not just a topic for a TV series or billionaire families, it’s about successfully transitioning your business and maximising its capital value for you, the owners.
Read MoreTopics: Estate Planning, Business Planning, Succession
One expense that can grow out of control in many businesses is Information Technology (IT). Tweaking investment in IT increases performance and profitability and sometimes major cutbacks are necessary. Either way, it’s best to be systematic. Here are some ways to economise on IT spending.
Read MoreTopics: Business Planning, Technology, Efficiency
An important responsibility of leaders is figuring out how to fund business operations and growth plans.
In the best case, a business will generate enough cash for operations, growth, and shareholder dividends. However, in many cases, leaders need to borrow money for growth and, in tough times, even the operations of their businesses.
Read MoreTopics: Business Improvement, Business Planning, Debt Management, Expenses
Key Performance Indicators (KPI‘s) are important management tools and we encourage business leaders to use KPI’s in their businesses.
A KPI is quantifiable measurement or metric which helps track the progress towards business goals. Leaders use KPI’s to make better, data-driven decisions. They also guide behavior, productivity and decision-making, while providing transparency and accountability.
Read MoreTopics: Business Improvement, Business Planning, Accountability
Let’s start with a definition of Bad Debt.
Bad Debt is an amount of money a creditor must write off after a debtor defaults. Understanding and incurring bad debt is part of doing business… because there is ALWAYS a risk that payments won’t be collected, especially for businesses that extend credit to customers.
Read MoreTopics: Business Planning, Debt Management, Accountability
