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A gift from the Government! Ease your cashflow and Build your Pension, all at the same time – is this too good to be true? November 20, 2008

Posted by businessgrowthmastery in Entrepreneurial, Financial Management, General, Vision & Strategy.
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A couple of years ago, the Government changed the rules surrounding Pensions, allowing those with a Self Invested Personal Pension (SIPP) to invest in their own business.

A number of specialist providers have assisted many organisations to do so and the impact can be amazing on both your business finances and your personal pension assets.

However, since 1 October 2008, this opportunity has got even better!

Why – well although you have been able to contract out of the State Earning Related Pension Scheme (SERPS) since April 1989 – these funds being known as Protected Rights – it is only since the beginning of October that you have been able to have the same investment freedom if these Protected Rights are invested into a SIPP.

So how can this benefit you and your business?

Click here to find how…

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How to manage excessive pay demands June 18, 2008

Posted by businessgrowthmastery in Entrepreneurial, Financial Management, Leadership, Mastermind Group, Vision & Strategy.
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Alastair Darling, the UK Chancellor has come out today warning that trade unions guard against a ‘disastrous return to 1970’s style inflationary pay demands.

He is right to be concerned as the global economy is feeling the impact of inflationary pressures on oil prices, the cost of food and increasing energy costs. Although the official inflation rate in the UK is quoted at just 3.3%, it is well established that if you take just these three core items, the the rate would be well north of 8%.

So as a business owner, how can you guard against excessive pay demands?

On the one hand, you need to ensure that you pay a fare salary, otherwise you are likely to struggle to retain top talent. Having said that all the research that I have seen is that money is lower in the priorities of the employee than it is in the perception of management.

Let me explain.

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Thriving in a Downturn – Part 2 – 10 steps to enable you to exploit new opportunities in global markets June 18, 2008

Posted by businessgrowthmastery in General, Leadership, Vision & Strategy.
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In the June 2008 edition of Director Magazine, Jane Simms highlighted the need for UK Directors to seize the chance to exploit new opportunities in global markets.
I, like her wholeheartedly believe that there are amazing opportunities for even the smallest operator to take advantage of the perspection of UK business in overseas markets.

However, the biggest hurdle that you will have to overcome in doing so is not the red tape, the long distances or even the time differences. No, the biggest hurdle that you will no doubt have to overcome is your own self doubt.

There are 10 simple steps that you can take today to ensure that you take control of these doubts

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AIM – promised land or nightmare destination? June 12, 2008

Posted by businessgrowthmastery in Entrepreneurial, Financial Management, Leadership, Vision & Strategy.
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Ever since the Alternative Investment Market was established in 1995, it have become the listing of choice for ambitious entrepreneurs. However, many business owners have found the market to be too intrusive for them to develop their business. So, what do you need to know?Close on 1700 business trade on AIM, with a combined value of £88bn – so it is certainly the promised land for raising funds!

The attraction of AIM to many business owners is the ability to rise funds for future growth of their business. Although AIM is a regulated marketplace, its regulatory framework is significantly less rigorous that the main market and as such AIM is attractive as there are;…

 

 

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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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Create your ideal life now June 12, 2008

Posted by businessgrowthmastery in Entrepreneurial, Leadership, Mastermind Group, Vision & Strategy.
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What are you planning to do in 2008 to ensure that you create your ideal lifestyle?I believe that all business people should look to create something that allows them to deliver their ideal lifestyle. This should be your reward for the risks that you take in becoming a business owner.
If you can’t, then are you really getting the rewards to reflect the risks that you are taking. If the business can’t survive without you, you own a ‘job’ not a business! If this is the case for you, do something about it now!

However, lets assume that you can create your ideal lifestyle – what does it look like?

Do you know?

Make a list of the top 10 things that you enjoy doing?

How many of these do you undertake on a regular basis?

How can you adapt your life….

 

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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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When does a business need professional support? June 12, 2008

Posted by businessgrowthmastery in Entrepreneurial, Financial Management, General, Leadership, Vision & Strategy.
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An article, written by Rupert Merson, posed the question “when is it right for a young business to recruit a finance director?”Like Rupert, I believe that upon appointing their first finance director, an entrepreneur will realise that they are running ‘the’ business, rather than ‘my’ business. It is a time when they ‘grow up’ and realise that for their success to be sustainable, they need to be willing to share responsibility for the big decisions.

 

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Is it too late to plan your exit? June 12, 2008

Posted by businessgrowthmastery in Entrepreneurial, Financial Management, Leadership, Vision & Strategy.
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This article could have been titled “What’s going to need to happen to let me maximise the value of my business? 

The simple answer to succession planning is that it is never too early to start to plan. You have probably heard the phrase – “Failure to Plan is a Plan of Failure” – this is never closer to the truth than it is as far as succession planning is concerned.

In all businesses, large and small, the way that they prepare the business for a change in leadership can have a huge impact on the future.

In larger businesses, the management team should be constantly looking to groom the next generation and the scope to do so is greater with more opportunities for mentoring, training and job rotation.

However, in smaller businesses, the risk is even greater and the potential to …

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