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The Obama factor – how will it affect your business? November 6, 2008

Posted by businessgrowthmastery in Economic Environment, General, Leadership.
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Yesterday, the world woke up a different place.

Barack Obama was elected President elect in the US with a clear mandate to implement his pledge to deliver change – change in the US and change in the way the US manages its affairs on a global scale.

So, how will this affect your business?

There is a new found sense of optimism coming out of the US. Will this last? It’s probably too early to tell but if Obama is able to ride this wave, and instill some confidence back into the US economy, then it is widely believed that the downturn won’t be as hard as first thought.

One of his early issues that neds to be resolved is the impact of the credit crunch – this hasn’t really been felt properly in the US at the moment – I was there last week and the amount of credit that is still being pushed is amazing. If Obama can prevent a real tightening of the credit availability – as presently being felt across Europe, he will successfully be able to keep the economy moving.

And this can only be good for business in the US and globally.

As we have found, when the US ecomomy catches a cold, the world starts to suffer. If Obama can apply the right medicine, the suffering felt across the world will be controlled.

So what do I recommend that you do to ensure that your business can ride out this period of economic downturn?

1. Remember that there is opportunity in every crisis – the business that adapt to the circumstances and look for the opportunities that are ther thrive and come out of the downturn much stronger

2. Keep a tight ship running – control your costs, manage your cashflow and chase down your debtors

3. Market, Market and Market yourself more than ever – make sure the world know your story. Whilst everybody else is keeping their heads down, make sure that you are constantly promoting yourself.

4. Enjoy the experience – remember, if you are constantly thinking negative thoughts about your circumstances, these are self fulfilling – Enjoy the experience and you’ll come out of this uncertainty much stronger both personally and in your business.

So, in summary, the Obama effect can and will have a positive impact on your business – if you believe that it will!

Ride the crest of the Obama wave and drive your business in the coming weeks and months.

Tony

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How will the Credit Crunch affect your business? July 16, 2008

Posted by businessgrowthmastery in Economic Environment, Financial Management, General, Leadership, Mastermind Group, Operations.
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As always with this type of question, there is no straight answer, other than – it depends!

However, in economic downturns, there are as many winners as there are losers. The question you should be asking right now is – in which camp do I want to be?

 

 

There is a saying that “when the going gets tough, the tough get going” and this has to be your mantra if you want to be one of the winners.
It is no good complaining about the state of the economy – there are enough people doing that. It is no good blaming the banks -they’re still open for business and for good business propositions, there is always money available.

However, the days of cheap money and a queue of people waiting to help you refinance are long gone and good riddance I say.

So what can you do to ensure that you are one of the winners and that you continue to deliver exceptional growth within your business?

For one, take these five simple steps;

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it depends!Undoubtedly, the impact of the credit squeeze, the increasing price of borrowing and the continued hikes in the cost of raw materials are having a big impact on business globally.

Santander takeover of Alliance & Leicester – the impact on your business… July 14, 2008

Posted by businessgrowthmastery in Economic Environment, General.
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Today in London, the Spanish banking group, Santander agreed to purchase Alliance & Leicester, the UK banking group in a deal worth approximately £1.3bn.
So what will be the impact on the business market in the UK.

All of the press analysts have concentrated upon the mortgage assets of A&L as being the main driver of the acquisition and debated at length as to whether the deal will be good for the UK consumer.

By acquiring A&L, Santander will have taken control of two of the bigger mortgage providers in the UK, having taken over Abbey a few years ago. Both Abbey and A&L were previously Building Societies and have significant retail customer bases.

However, I think the real purpose of the A&L acquisition is for Santander to gain a foothold into the business market. A&L have a much more developed commercial proposition than Abbey and although Abbey have been trying to develop their business proposition, it hasn’t really taken off in the way that I think Santander would have liked.

By acquiring A&L, they can merge the two UK businesses together and reap the rewards from cost savings generated as a result of de-duplication across branch networks and more significantly in the support functions. But I feel far more importantly, Santander now have a valid business proposition in the UK market, one I’m sure that they will wish to develop and exploit.

So what’s the impact on UK businesses?

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The ‘R’ Word – is it all doom and gloom for business? June 12, 2008

Posted by businessgrowthmastery in Economic Environment, Leadership.
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I’ve been away for a couple of weeks and have come back to hear even more mentions of the dreaded ‘R’ word in the media. It seems that not a day goes by without another so called expert blurting out why the ‘end is near’ and the economy is in freefall.

If we are not careful, we will all start to believe them and then we will be in trouble!

In every depression, recession, downturn, disaster and slow down, there are as many businesses that grow and prosper as there are those that go to the wall.

I believe that it is up to you which way your businesses go.

Just think, if your competitors are struggling and start to believe the hype, there will be lots of opportunities for you to go at. Are you ready to take advantage?

Over the next few days and weeks, I will use this blog to introduce helpful hints and tips that will help you to not only survive this so called ‘recession’ but to really thrive.

So bookmark us now and we’ll ping you to let you know our latest post is issued

Navigating your way through the credit crunch June 12, 2008

Posted by businessgrowthmastery in Economic Environment, Entrepreneurial, Financial Management, General, Leadership, Mastermind Group, Vision & Strategy.
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As we move through 2008, the world economic situation is uncertain at best!
We are being constantly bombarded with talk of recession or at the very best, a significant reduction in the economic growth. This, coupled with the ever advancing strength of the Chinese, Indian and Russian economies amongst others are creating a period of uncertainty and worry within the main Western economies.What does this mean to you, as an owner/leader of a business that you want to see grow?
Does it have to be all doom and gloom?
What can you do to ensure that you continue to thrive?

Here is my 10 point plan for maintaining your growth aspirations during periods of economic uncertainty;

1. In any situation, whether good or bad, there are always opportunities. Think about your business model and consider what opportunities exist for you to adapt your product/service offering to meet a need that has only arisen as a result of the uncertain outlook.

2. Review your vision for your business – is it still valid? Is it still desirable? The New Year period tends to be a time for reflection. Reflect on your vision and adapt it to meet the present situation. Is your vision for the business still enough to drive you to take repeated action, day in, day out? If it isn’t, understand what will and do it. Any lack of action now will have a major impact on your ability to achieve your ambitions.

3. Look at every part………..

 

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18% Capital Gains Tax – a hit or miss for the UK entrepreneur? June 12, 2008

Posted by businessgrowthmastery in Economic Environment, Entrepreneurial, Financial Management, Leadership.
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The UK Chancellor announced recently that the rate of Capital Gains Tax will increase by 80% in April 2008.

After years of so called encouragement to enterprise, although with all of the additional red tape and stealth taxes, I’ve never been sure about the underlying motives, the new Chancellor announced that he is ’simplifying’ the Capital Gains Tax rules!

Put simply, this creates a set 18% rate across the board and does away with the taper relief system where business assets held for over 2 years would attract a CGT rate of just 10%.

So, is this simply another tax raising scheme for the Government? On the face of it, I believe that it is!

Especially for honest business entrepreneurs who are looking to build long term returns. A business owner who can sell his/her business before April 2008 will pay only 10p in the £, as long as they have owned the business for over 2 years. From April onwards, they will pay 18p in the pound!

But are there any winners?

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