How to track job and project profitability more effectively
For service-based and project-driven businesses, success isn’t just about landing work, it’s about making each job profitable. Too often, business owners don’t know how much profit (or loss) they made […]
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Competing and pricing confidently in a cost-pressured market
Rising costs, tighter budgets, and more price-sensitive customers are challenging every business. When material, people and supply chain expenses keep climbing, and customers hesitate to pay more, the solution isn’t […]
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How to retain your best employees
Employees are the face of your brand, guardians of your intellectual property and ideas, and the biggest driver of business growth. Not only is employee turnover disruptive, stressful and time-consuming, […]
Identifying when it’s time to hire your first employee
Hiring an employee is a significant milestone for any business. Not only are you expanding your team, but you’re freeing up time so you can focus on growing and building […]
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Collecting your money faster
Credit limits are designed to prevent debt from escalating out of control. Put a credit limit on all customer accounts and then put an automatic ‘stop credit’ on any overdue […]
Lessons learned from global disruption and looking ahead
While it may be challenging to predict what the future holds, history shows us that economies will eventually recover from major disruptions. It’s useful to reflect on how your business […]
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Metrics to measure business progress
Here are 5 important metrics to pay attention to when it comes to the success of your business, including ways you can improve them. 1. Gross margin Gross margin is […]
What to do if you have a cash crisis
Dealing with a sudden cash flow crisis, even if you’re working hard to avoid shortfalls, is hugely distracting. A formerly reliable customer might take much longer to pay than anticipated […]
Pricing mistakes that cost your business more than you think
Pricing can make or break a business. Yet for many small business owners, setting the right price is more guesswork than strategy. Whether you’re undercharging, reacting to competitors, or failing […]
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Restructuring if cash stressed
Restructuring your business can feel like a daunting task, but in times of economic uncertainty or shifting markets, it can be the key to long-term success. The idea is to […]
Find and fix bottlenecks
Bottlenecks are the inefficiencies or constraints that slow down your operations, impacting everything from production and sales to customer satisfaction. These roadblocks hinder growth, making it difficult to scale your […]
Strategies to future proof against inflation
High inflation affects both businesses and individuals, as rising prices reduce profitability and buying power. Staff shortages, freight challenges, and bad weather add more layers to the cost-of-living crisis. As […]
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Tactics to offset rising business costs
Responding to market forces outside your control is one of the trickier aspects of running a business, even more obvious today as world markets fluctuate. While you can’t always predict […]
What is Gross Profit Margin and what does it tell you?
Managing a small business can feel like balancing countless tasks at once. In the midst of it all, one key metric stands out – Gross Profit Margin. But what is […]
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Managing morale during times of change
Change is inevitable in any business, but it’s rarely easy—especially when it comes to managing morale. Whether you’re restructuring your team, implementing new processes, or pivoting your business strategy, major […]
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