Update your business plan for a new year

As another year winds down, it’s a good time to reflect on your recent business successes – and consider what you’d like to achieve in the coming twelve to fifteen months. These tips can help you with the process of making plans to help guide your business to greater success. Set priorities Entrepreneurs are typically highly creative and optimistic; as a result, they often have difficulty narrowing down their ideas…  Read more

How to Create a Personal Brand

The words ‘personal brand’ is still somewhat controversial, and carry an unfortunate cast of self-promotion and vanity. The truth is that personal branding is more important than ever in the job market, and those without a clear personal brand or mission to create one are lagging behind the competition.   What is a personal brand? How you present yourself has always been important in the workplace. In the corporate heyday,…  Read more

Lessons from three pricing stories

Times were tough, so John decided he had to drop his prices below his competitors. The results seemed gratifying. Business picked up quickly and when John looked around his shop he could see his sales staff were always busy with customers. Then came the call from his accountant. “Aren’t the sales figures great?” said John, getting his bit in first. ‘Yes”, said the accountant, “impressive sales indeed. That’s the good…  Read more

Five Ways to Manage a Healthy Cash Flow

We cannot stress further the importance of properly managing your cash flow to ensure the smooth running of your business. However, in times of crisis such as the ongoing COVID-19 pandemic, this becomes more than important– managing your cash becomes a necessity for survival. If you are experiencing cash-flow troubles, here are five things you can do to manage your cash flow better. Check your expenses. Now is the perfect…  Read more

8 things your invoice needs in order to get paid faster

So you’ve set up your business and sold some products and services. Now, you have to send an invoice to collect your payment. But what should you include on your invoices in order to get paid faster? Even if you’ve been running your business for a while, you might be missing other information that you should include. So here is a step-by-step guide on what to include on your invoices.…  Read more

Easy ways to build an online business

More and more people are leaving their office jobs and setting up an online business these days, especially because of COVID-19 Running an online business offers a way for you to work from home and be your own boss. It may sound like an overwhelming process, but many entrepreneurs find it fulfilling. Here are some tips to increase the chances your small online business will be a success, and you’ll…  Read more

Creating your business to-do list

When you’re an entrepreneur, your to-do list is often long and constantly growing longer. There is an overwhelming number of things you need to do, and it can feel like they’re all urgent. In such cases, it’s easy to push important tasks to the side and focus on less-vital activities, but that often means you miss deadlines, make mistakes, or always feel as though you’re trying to catch up. Here…  Read more

7 Practical Tips to Trim Your Overhead Expenses

Every small business owner knows how challenging it is to cut down expenses without somehow compromising internal or external quality. Regardless of the nature of your business, the first step to reducing your overhead costs is to take the time to go through every single expense you have. Next, assess which ones are necessary for your business to operate smoothly, which can be trimmed down, and what can be eliminated…  Read more

10 quick growth tips for your small business

Small businesses can grow in boom times as well as periods of difficulty by working smarter and taking advantage of opportunities. Put these following effective tips into practise to help grow your business.   1. Utilise new technology Modern technology can save you time, improve productivity and reduce your operational costs. Make use of Facebook, Twitter, Google+ and other social media tools to market your business. Dropbox is a cloud-based…  Read more

COVID-19 Business Update – 19 August 2020

Welcome back to our Weekly Digest. We hope you and your family are safe and doing well. Read on for this week’s update. Canadian Travel Ban Extended As the US continues to wrestle with the pandemic, border closures were extended for at least another month to contain the spread of COVID-19. Non-essential travel will be prohibited until September 21. Finance Minister Resigns Amid the Pandemic Finance Minister Bill Morneau announced…  Read more

COVID-19 Business Update – 13 August 2020

Welcome back to our Weekly Digest. We hope you and your family are safe and doing well. Read on for this week’s update. Pfizer Announces Deal for Experimental COVID-19 Vaccine Pfizer and BioNTech had signed a deal to supply Canada with an experimental COVID-19 vaccine. Deliveries of the vaccine candidate are planned over the course of 2021, subject to clinical success and Health Canada approval. The government said it would…  Read more

COVID-19 Business Update – 6 August 2020

Welcome back to our Weekly Digest. We hope you and your family are safe and doing well. Read on for this week’s update. Canada Extends Travel Ban to August 31 Canada has recently extended the travel ban for most foreign travelers to August 31, and launched a new contact tracing app to fight the COVID-19 pandemic. Canada has a separate agreement for border controls with the United States. Last month,…  Read more

10 more quick growth tips for small business owners

Help grow your business through collaboration, expansion, improved marketing and some of the following quick tips. 1. Improve your customer service Businesses with good customer service retain consumers and attract new business through word-of-mouth. Even if you think you’re already providing good service, make it a priority to provide refresher training to frontline staff at least once a year. Alternatively, hold regular meetings to discuss any issues as they arise.…  Read more

Easy ways to build an online business

More and more people are leaving their office jobs and setting up an online business these days, especially because of COVID-19/ Running an online business offers a way for you to work from home and be your own boss. It may sound like an overwhelming process, but many entrepreneurs find it fulfilling. Here are some tips to increase the chances your small online business will be a success, and you’ll…  Read more

From Apple to Avon: six inspiring marketing successes

From Mac computers to make-up, here are six examples of super-strong brands that cornered their markets using different marketing strategies. If you look at their histories and analyze the pivotal moments, you’ll find parallels and pick up tips on how your company can follow in their footsteps and stand on the shoulders of giants.   Apple’s call to arms Anyone who remembers Apple’s computers from the 1980s knows its brand…  Read more

5 Things a Great Business Name Should Do

A great business name isn’t just a label for your company. It is also your number one marketing tool, serving as a platform for setting yourself apart and defining your brand. At the very least, your business name should do the following.   Convey the industry or area of expertise of your company When customers search for businesses, they apply some filters to determine whether specific organizations are relevant to…  Read more

COVID-19 Business Update – 22 July 2020

Welcome back to our Weekly Digest. We hope you and your family are safe and doing well. Read on for this week’s update. What You Need to Know About the New Extended Canada-U.S. Border Closure On July 16, Canada’s PM Justin Trudeau announced that the Canada-U.S. border closure will be extended until at least August 21. The announcement comes as COVID-19 cases continue to rise in the U.S, whereas Canada…  Read more

Ways to benchmark your business

For many business owners, determining the success of a business comes down to how much profit the company makes. Of course, finances are an important measure of an company’s overall success. If you don’t bring in more than you spend you won’t be in business for long. Profit, however, isn’t the only important benchmark by which to measure your business. There are other important factors business owners can and should…  Read more

How your business can thrive even in a recession

The pains caused by a recession can be excruciating, which is why most of us dread the thought of it. A recession can mean massive layoffs, jobs becoming harder to find, and wages frozen, which means consumers hunker down and spend less– often worsening the economic slowdown unknowingly. For most businesses, especially small businesses, recessions can be brutal. Just take for example, the Global Financial Crisis (GFC) that struck the…  Read more

Using KPIs to monitor and improve business performance

The key performance indicators (KPIs) for one company will invariably be different from the KPIs of another firm.  What both hypothetical companies share however, is the challenge of selecting which KPIs are best suited for measuring the goals and progress of their particular business model. Indeed, entrepreneurs have a vast array of reports and data sets from which to choose and select from, but that data needs to target those…  Read more

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