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Independent Contractors – how can you take advantage of their flexibility? October 21, 2008

Posted by businessgrowthmastery in Entrepreneurial, IT/ Technology, Leadership, Operations.
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Do you have a list of projects that you want to commence but never seem able to get around to starting?

For many small and medium sized businesses this is a real issue – there just never seems to be enought hours in the day to get everything done.

However, there may be an answer to these challenges and again it is something that we can learn from larger corporations. Many entrepreneurs manage to deliver quickly and efficiently by using a corps of independent contractors, who provide flexible, skilled help just when the business needs it and more importantly only when the business needs it!

Many entrepreneurs use professional contractors for two reasons – flexibility and variety. You can select a contractor with specific skills to undertake a specific projects and then once completed, end the contract and move onto the next one.You have no issues with hiring, firing and morale.

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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.

Virtualise your business! June 12, 2008

Posted by businessgrowthmastery in General, IT/ Technology, Operations, Vision & Strategy.
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What does Virtualisation mean to you?The latest business fad – another in a long list that includes total quality management, Y2K etc. Well, many people think this way.

I certainly don’t. Why?

Well for a business that has designs on growth, you should be looking at all options available to you to allow you to scal up your operations in the most cost effective way possible. I believe that operating within the Virtual world allows you to do this by providing you with access to the very best technology available on a ‘pay as you go’ basis.

No up front installation costs, no up front acquisition costs, no ongoing mintenance costs, reduced risks, improved performance – these are all benefits of moving towards a virtual IT structure.

To cap it off, you don’t need to employ the ‘geek in the corner’ to ensure that it all operates properly.

As long as you have good internet connections – broadband at a minimum, you can now access all of your technology requirements via a range of web enabled solutions…

 

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5 strategies to improve your cashflow June 12, 2008

Posted by businessgrowthmastery in Entrepreneurial, Financial Management, Operations.
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One of the biggest challenges that businesses of all sizes face, is maintaining a healthy cashflow.Although I said that businesses of all sizes face this challenge, the ones that feel this challenge the most are typically SMEs.

It can be more difficult for smaller businesses to manage cashflow as they are usually dealing with smaller amounts and ensuring that sufficient money is available to pay suppliers and salaries can put a major strain on even the most successful business. This strain is often felt the most by the owner manager!

Many businesses focus on increasing their sales and profits and often fall into the trap of forgetting about cashflow. If you are making lots of sales and profits, then there will surely be plenty of cash available in the business, right?

Unfortunately, no, it isn’t right!

One of the main reasons businesses fail is poor cashflow. A business can survive for a long time with making a loss as long as they have sufficient cash, but they can’t survive without cash even if they are making good profits.
If you are not sure why cash and profit can be so different, please get some support

 

BGM Mentor Services

can provide you with professional FD level support that will help you with this and many other challenges faced by growth businesses.Ever heard the phrase – Cash is King?

When it comes to running a business, there isn’t much more closer to the truth. Effective cash management is vital to ensure that your business can survive and thrive.

So how can you manage and improve your cashflow? Here are my top 5 tips to help you along the way….

 

 

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