You’ve probably heard it a million times but I don’t agree with it. Turnover is the perfect measurement of business growth.
Don’t be lazy by setting your prices solely on the market, positioning your service or products somewhere around the middle, where they’re cheaper than some and more expensive than others.
Too many service-based businesses charge on an hourly basis. They treat themselves like a contractor. If you’re a service business, your services can be ‘boxed up’ and priced similarly to a physical product. Stop charging by the hour and start pricing on the positive impact you have on your client. You should be charging based […]
We’re increasingly living in an unsubstantiated ”Hell yeah, you can be anything” world. And whilst I love a bit of whoop-whoop, in the real world, most small businesses don’t even reach 6-figures (£100K) in annual revenue. So, let’s get real for a moment.
Making money can be the product of your business or it can be the by-product of your business, but it must be the focus of your business.
Too many businesses are ‘cause’ led. They’re run solely or predominantly for the causes they support, rather than for commercial factors and success. These business owners focus heavily on helping people and creating a positive impact, but not enough on the finances.
The world is run on money. We can sit on the outside moaning about how others are using or abusing it, or we can get in the game. Money is fuel. Put it to good use and it will do good, use it negatively and it will do bad.
Rethink the structure of your business. I favour what I call the ‘steel core’ over the traditional ‘pyramid’ model. When I think of the typical business structure, with the CEO at the top, I’m mindful of that great image of birds sat on telegraph poles.
And terrible things can happen when you’re in the wrong environment surrounded by the wrong people.
Your environment matters
When you focus on the results of your success, and not the causes, you can nurture the wrong aspects of your business. Equally, if your business is bearing no fruit, focussing on that won’t help you resolve the underlying issue. Tackling the symptom of a problem is simply triage. You need to find the root […]