The Pulse

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Wednesday 23rd July

The Latest

  • 23
    Jul
    alarm_bells

    10 warning signs to look for when buying a business

    Buying a business will probably be the most important and largest investment decision you will ever make in your working life. It may seem like a gamble, either giving you financial freedom or destroying your financial future. From my years of experience in undertaking due diligence work for potential business owners, I have unmasked some alarming warning signs. If they were caught sooner, potential buyers would have saved thousands of dollars. I have a belief that no one sells a good business. Why would you? If a business is running well and providing cash flow and profits — and the owner is not required to work 60-80 hours a week …

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  • 22
    Jul
    140722_worst

    6 ways to stop losing clients

    For some businesses, existing clients tend to play second fiddle to prospects. However, studies have shown that it can be 5 to 10 times more cost effective to keep a client than to acquire a new one. So why do companies spend so little time and money retaining clients? The tips below ensure your clients stay on board for the long haul. …

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  • 21
    Jul
    cheque

    Why price is often irrelevant

    There is a well-known truism that while some consumers might base their purchases on price, most will gladly pay a premium to get great service. Turns out, this is both practical and profitable advice. But what amounts to ‘great service’, and how can you develop it in your business? Most customers are loyal if you are able to provide them with a solution to their number one source of pain. As long as you focus on solving their issues — and prove you can — you are likely to get more customers and sales. Your customers will continue to buy from you until you stop solving problems and start peddling your features and benefits. …

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  • 18
    Jul
    140718_15minutes

    How to spend just 15 minutes daily managing your social media

    Yes, it is possible to manage your social media in 15 minutes a day. First you need a plan and an understanding of what you want to achieve on social media for your business. With that in hand, you are ready to implement your strategy in no time at all. Some of the preparation includes having a clear purpose for being on social media, such as engaging with customers and potential customers, keeping abreast of issues and building your brand. Identify who you want to follow closely on social media and organise a way of doing this easily with tools such as SocialOomph or Hootsuite. Use these tools to easily track whenever you get mentioned …

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  • 17
    Jul
    140717_wow

    5 signs of a great bookkeeper

    By Debra Anderson A bookkeeper is a bit like a GP – there’s one on every corner but great ones are hard to find. And when you do find one, you should never let them go. But how do you know if your bookkeeper is good or even better, a great bookkeeper? Let’s start with what every bookkeeper should be before we look at what makes a great bookkeeper. …

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  • 16
    Jul
    140716_average

    Why ‘good enough’ kills profits

    If you’ve been hearing the words ‘good enough’ used a lot in your business lately, it’s an early sign that you’re headed for trouble. It’s also a big sign that your employees are lacking your vision and passion. They will ultimately, albeit subconsciously, work to destroy your company. It may sound simplistic, even harsh. But the reality is that by allowing a culture that accepts mediocrity, you are willingly hurting your company’s profitability. For a business operating in a stable marketplace with less competition, you won’t see the effects for a while. For others, it will come much quicker. There are many reasons why …

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