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Once you’ve established where your business is now and secondly, where you want to get it to, you need to sit down and work out how you’re going to bridge the gap between the two. If the gap is large, it may seem like where you want to get to is just too hard to reach. T...
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The term “Break-Even Point” refers to the level of sales necessary to cover all expenses i.e. the point of no profit or loss. To calculate this, you need the following: Your expensesYour salesYour gross profit percentage which is your gross profit (sales less your cost o...
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Every business owner should be focused on his or her prospective customers. The ability to find a customer, sell your product or service to that customer, and satisfy the customer so that he/she buys from you again should be the central focus of all your business a...
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Basically, a good goal comes in a format of:What do I want to achieve & by when? And to assist you in setting your goals it’s important that you know the SMART formula which will remind you of the important components of well set goals. S is for specific and your goals sh...
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There is a common factor in the success achieved by those who are successful. What is that common factor? It’s that they’ve done the necessary preparation for success. They understand the six P’s - proper preparation prevents pretty poor performance. They know that: Lu...
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Selling a Business

May 4, 2019

Business Structures

May 4, 2019
Your business structure should take account of the following factors: Risk. Business is a very risky place and your business structure should minimise risk as much as possible. Often ignored until it’s too late e.g. when the GST or rent is months in arrears! Practicality. ...
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Every business owner needs reliable figures to regularly check on business performance.  Collecting data is useful in setting realistic targets towards increasing your profitability in 2015, and gives a baseline for monitoring your business throughout the year. Types of...
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Buying a Franchise

May 4, 2019
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