Why Is Customer Lifetime Value Important? As a business owner, you need to cater to your customers. Having satisfied and loyal customers is extremely vital to the growth of all businesses since, at the end of the day, the gains, and the profit one makes are due to the...
Among the many factors that contribute to successful management are customer lifetime value (CLV) and segmenting your customers. CLV is a measure of how much profit a company can expect to make from each customer over the course of their relationship with that...
What does having a successful business mean to you? That is a really important question to ask yourself when starting out. This quote below sums it up rather nicely. “If you don’t know where you are going, you’ll end up somewhere else.” - Yogi Berra And...
Teamwork in business is crucial for success. When individuals come together to work towards a common goal, magic happens. It’s because they bring with them a diverse range of skills, knowledge, and perspectives. Team members achieve better results together than...
Have you ever thought about product grouping? Or has it been something you’ve put on the shelf and it’s been collecting dust? How does it get you a greater financial understanding of your business? How product grouping can help Above all by looking at your...
Any business that strives towards success should be making money, or in business terminology, generating profit. One of the main reasons that businesses go under is because of the confusion between two seemingly similar, but in reality quite different aspects....
Are you looking to grow your business? If so, then it's important that you don't overtrade. Overtrading is a very common problem for businesses. Furthermore, it can lead to financial failure even if you're making profits in your business. That situation, folks, is...
Feeling like you're not achieving success in your business? You're not alone. You’d be surprised to hear that many people feel this way at some point in their lives. But don't worry, I can help. Once you've learned what success actually is, you can start to...
Do you need a system that will track the performance of your employees in a consistent and measurable way? Then you need a performance management system for your business! Wondering how to create one? You're in the right place! In this video, I'll be talking to...
Achieving business success is every business owner's goal (and dream). But how to get there is another story. You’ll find lots of advice about how to reach success in business, but I’ve distilled all that into something that can be easy to remember and...
There is no magic bullet to make your business successful. However, if you treat it as a hobby, then you're bound to fail. That’s why you need to run it, deal with it, and approach it as it deserves. Firstly, what’s a business? One official definition of a...
Your business cash story is a big deal. It contributes to business continuity, survival, and growth. Profits are what it all comes down to ultimately, but cash plays its own part in this narrative. Cash is what we see appearing and disappearing from our bank...
Why leadership is key to your business resilience is the topic of this blog. Business resilience is what you need when running your business. The businesses that share these characteristics tend to be at a large, multinational corporate level. However, there...
Business objectives are the specific goals that a company sets for itself in order to achieve success. Your business plan is nothing without your business objectives and goals. They are the driving force behind a company's decision-making process, and they help...
Planning is an essential process for any business, regardless of its size or industry. It involves setting objectives, developing strategies, and laying out the actions needed to achieve them. Remember if you want your business to be successful, you need to get...
Organisations that thrive and do well have the element of business resilience. Resilient companies are those that will be most likely to push through challenging or uncertain times. What is business resilience? Business resilience is what makes a company adapt...
To understand break even, you first need to know the components involved with business activity. But how do you find out what your business requires to break even? What is break even in business? Your business breaks even when your sales cover all your costs -...
Setting the right business targets can seem daunting, but it need not be. We will help you to choose the right targets for your business, and provide tips on how to reach them. Why targets are important The first thing that we want to make sure of is explain...
Have you ever put off doing something, and then ended up racing to finish the task last-minute? If this sounds familiar the read on: It might be that you’ve been struggling to start work on major tasks just because they feel overwhelming. Hence, you’ve delayed...
Are you looking to be successful in your business but don't know where to start? Most people think that in order to be successful in business, you need to be intelligent, have a lot of money, or know the right people. While these certainly don't hurt, there...
Are you thinking about the best ways to grow your business? Wondering if you’re doing all the right things to enable growth? Then, read on for our three tips for business growth. More specifically, we are going to look at MCP. MCP is not some new medication or...
Making profit must be at the top of your business goals - ignore that at your peril. Firstly, I am going to tell you why making profit is vital for you and your business. Secondly, I will tell you how you go about making profit. But before we go into that,...
In previous blogs (and vlogs), I've looked at turnover and profitability, but this time cash is in the spotlight. So, why cash is important for your business is the topic of this post. I will be answering the following questions: What is cash? Why is cash the key...
Break even in business is more than just a number. If you're like most business owners, you're always looking for ways to cut costs and increase profits. But before you can do either of those things, you need to know your break-even point. What is break even in...
There’s no denying that running a business requires you to keep your finger on the pulse. Take your eye off the ball and you’ll soon find that you start to lose a grip on what matters. However, many people struggle to keep control of everything when running...