Negotiate on price
Negotiating can be tough, but knowing the market and doing the research on a product or service you wish to buy can put you in a better position when it comes to doing a deal.
GROWING A BUSINESS
MONEY & FINANCE
Managing your finances effectively is vital in a growing business. Peter Switzer offers his latest tips on financial planning, risk management, and managing debt to grow your business. Find out innovative ways to save money by trimming costs, and some of the essentials of the Australian tax system that affect your business.
The scary stuff
Finding new clients can often be a difficult process. Smart and successful marketing is essential to any growing business.
Keeping the books
Keeping the books organised and up-to-date is of great importance to any business to ensure its smooth operation.
How to trim your costs
Imagine reading a headline that says "Cut your costs by 50 per cent or more!" That would suck in nearly every small business operator, and when I read it in a American magazine a few years back, it did the trick on me.
Tax smart
Before the end of the financial year arrives, accountants argue that it's not too late to get your business house in order to save on your tax bill. But the taxman warns to be careful of schemes that are big on tax saving promises.
Access to cash
The tide might be turning for small businesses looking for money with the big banks who are becoming increasingly more forthright and even more believable when they say they are supporting small business.
Spend a penny, I dare you
When you're a bloke like me officially in the advice caper - though I like to think it's more the business and money education industry - you always get what I call the third scariest call of all.
Debtor strategies
Research in Europe has shown that one in four businesses wind up on the scrap heap because of late payers!
Business angels
Heard of them? I get the question a lot from people wanting to grow their business. Who are these business angels who can lend small businesses money? And what do they require?
Close the risk
Imagine deciding to adopt a big business-approach to life. If anything, it would be materially rewarding. I'm suggesting that you live your life according to a plan - a life plan and a business plan is not a bad idea.
Debt rules
Every business at some time experiences a customer who is either a slow payer, or worse still, refuses to pay at all. Few people enjoy harassing customers for unpaid accounts, but essential telephone skills go a long way to getting payment.
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RECENT ARTICLES
If not systems, then what?
I hear it all the time from people who want to grow their business. "I know I need to do some work ON my business, but I just don't have the time - how can I find the time?"
When you're on a good thing, stick to it
Do you find it hard to keep staff? Do you have staff you'd rather not keep? Motivating staff can help keep the ones you want, and possibly even help you get more out of the non-performers.
Switzer's Hint
Tony Alessandra gives us a sporting view on customer service: "Being on par in terms of price and quality only gets you into the game. Service wins the game."
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