Cash flow is the life blood of your business. No business, no matter how profitable, will survive very long if the cash isn’t available at the end of the month to pay the wages, pay the rent or pay the suppliers. Your ability to manage your cash flow will have a significant impact on the success of your business.
A powerful yet simple tool to help manage cash flow is….
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Keeping staff motivated is a challenge for many business owners, never more so than when things are tight. But there are practical steps that business owners can take to keep staff motivated without costing a packet.
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The problem running a business is that with so many important things needing attention it is hard to know where to start …. and even if you know where to start, it doesn’t take long before you get distracted .…
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Some of the most difficult business situations I have encountered have been where business partnerships have gone wrong. Here are my top tips for an effective partnership.
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Dealing with banks in a recession is no different to dealing with them in good times, only in a recession there is less room for error. The business proposition, the loan application and the resulting financial performance have to be absolutely convincing. Remember that banks still need to lend, after all, that is how they make money, but with limited funds available, banks will focus on the good and the great businesses and not the merely average ones! So what should you do to get your bank to say yes?
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The fact is that many profitable businesses fail due to poor cash flow while even unprofitable businesses can be kept going for long periods with good cash flow management. Here are my top 8 tips for good cash flow management in your business.
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Cash is drying up, customers are slow to pay, suppliers are quick to chase, your bank manager is avoiding your calls, (or worse, has started calling you!), customers have stopped placing orders and staff are jittery. Something needs to be done to avoid a more serious problem, but where do you start? Here are the 8 key steps to start your business turnaround.
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There are many ways to promote your business that will cost you nothing, or at least very little. But it does take some initiative, creativity, innovation and a little hard work. Here are seven practical ways to promote your business for free that really work.
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It is easy to be cast down by the pervading doom and gloom, to be consumed by the day to day struggle and to lose the drive and ambition that had you start your business in the first place. But the truth is that businesses are started in recessions, businesses survive recessions and businesses grow in recessions. It just takes a change in attitude and approach. Here are 7 ways to make the most of the recession.
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Getting paid on time is a constant problem for many Irish business owners. Late payments result in poor cash flow, higher costs, unhappy suppliers, dissatisfied customers and personal stress. All the more reason to find some practical ways to make it easier for your customers to pay you. Here are 7 proven ideas that have worked for my clients:
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