When asked what the secret was to his success, business magnate Warren Buffet said: “Read 500 pages a day. That’s how knowledge works. It builds up like compound interest.” Similarly, Bill Gates says he reads around 50 books a year. And a whole host of other big business minds, from Elon Musk to Richard Branson to Tony Robbins, say they … Read More
With the impact of Brexit, the pandemic, and now the recession, small businesses – which make up 99% of the UK’s business population – have had to switch into survival mode more times in recent years than they may care to remember. Economic uncertainty can impact even the most robust of businesses, but the downturn in the nation’s finances doesn’t … Read More
Being able to put together a forecast of your business’ cash flow is incredibly important for planning and identifying problem areas. This is especially true in times of crisis when your cash flow comes under pressure. In this article, we outline some of our tips for building a cash flow forecast. Understanding your cash flow In terms of putting together … Read More
Across the UK, staff are returning to a changed workplace. Government guidelines now require that a range of COVID-secure measures be taken, such as enhanced hygiene protocols, socially-distanced workstations and staggered shifts. The new guidance is deemed necessary to control the spread of coronavirus, but following the new rules blindly could create more serious health and safety risks elsewhere. This … Read More
Have you ever met someone and thought “I just don’t trust them” or “I just didn’t take to them”? Did that encourage you to buy a product or service from them? Probably not. Now, put yourself in the position of a potential customer of your business. What do you think people will think about you when they first meet you … Read More
Have you ever wondered what all those headings and figures mean when your accountant returns your Balance Sheet and afraid to ask? Or maybe someone asks you about your gearing and you think they are talking about your car? Perhaps you are looking at buying a business and you’ve been given their last 3 years of accounts and have no … Read More
Some years back, through Business Information Point I was lucky enough to be offered a funded opportunity to join a group of advisors, accountants, solicitors and land agents, to attend a three day masterclass on family succession planning in Lucerne. Although the experience was extremely full-on and stimulating, I personally felt that three days only explored the tip of the … Read More
When you are making any sort of plan, it’s a good idea to know exactly where you are starting from and where you want to get to. If you are being thorough, you’ll also want to understand your capabilities, research the environment you’ll be working in and gather relevant data and information. Once you’ve done that you’ll be in a … Read More
It’s no surprise that small businesses don’t generally have much money to invest in their marketing. In fact the average annual marketing budget for small and medium-sized enterprises (SMEs) is only £24,000. Coming up with cost-effective ways to promote your business that provide a good return on investment is key especially when budgets are so tight. While it’s still possible … Read More
Over my years as business advisor I have met countless people who want help with their business. While challenging at times, it’s often a very rewarding experience seeing somebody start or move forward with their business as a result of our conversations. As you can probably imagine the types of issues raised vary from person to person and business to … Read More
