Blog

Creating a robust business plan is crucial to the success of any startup. It not just provides a roadmap for your business, but also helps to attract potential investors. Here’s a practical guide to help you put together your business plan. Gather Relevant Information Start by collecting all the necessary information about your business. This includes understanding who will run the business, who will advise you, and a thorough analysis…  Read more

As a small business owner, you always look to keep your business running efficiently. Expense reimbursement fraud is the last thing you want to face. Not only can it hurt your bottom line, but it can also damage your company’s reputation. Here we discuss what is employee expense fraud, reasons behind it, and most importantly, how to prevent it from happening to your business. What is expense fraud? Expense fraud…  Read more

When it comes to valuing a business, most people’s first thought is straightforward—profits. While financial success is undoubtedly a critical aspect, it’s far from the only factor determining a business’s true worth. For small business owners and entrepreneurs, understanding the complexities of valuation can offer a clear roadmap for sustainable growth and long-term success. Here is a fresh perspective on what makes a business truly valuable. We’ll discuss traditional valuation…  Read more

Navigating the current economic environment can feel like an uphill battle, especially in relation to your pricing strategy. Globally, economies are experiencing an inflationary environment. In the US, for example, average prices have surged by over 20% since the start of the pandemic, significantly influencing consumer price sensitivity. With inflation becoming a part of our daily lives, your potential clients—regardless of industry—are likely to take more time to invest and…  Read more

Imagine receiving a call from what sounds like your boss, urgently requesting a fund transfer. Or maybe you’re asked to verify your identity using a government ID—except the person on the other end has a near-perfect AI-generated fake of your ID card. Scenarios like these aren’t far-fetched anymore. AI-powered fraud is growing rapidly, and both businesses and individuals need to understand the risks and how to defend themselves. AI-powered fraud…  Read more

Inventory is the lifeblood of your business. It is the largest asset on your balance sheet and your company’s biggest revenue-generator. It goes without saying that poorly managed inventory can do serious damage to your bottom line. Businesses without clear strategies for streamlining the in and out flow of goods will have trouble meeting their customer’s demands and will see mismanaged stock corrode their profits. Follow these tips to ensure…  Read more

Healthy cash flow is important for any business, but particularly for small business owners in those first few “make it or break it” years. Business owners who set clear payment terms with their customers, invoice quickly, and follow up on late payment can avoid the dreaded cash flow crunch that can quickly put them out of business. These simple guidelines for setting payment terms can help you get paid quickly…  Read more

If your company is experiencing rapid growth, you might find yourself navigating a good news/bad news situation: while your sales figures climb, managing cash flow becomes increasingly complex, pushing you to seek additional financing to meet the rising demand. Consider this scenario: A well-known retailer expresses interest in your products, presenting an exciting opportunity that could significantly elevate your business. However, they have a requirement: they want a substantial discount…  Read more

If you’re a small business owner or a startup founder, you’ve probably heard about Cost of Goods Sold (COGS). But what does it really mean, and why is it crucial for your business’s success? Understanding COGS isn’t just about accounting—it’s about making smart decisions for profitability, pricing, and more.  This blog walks you through everything you need to know about COGS, from defining the term to showing you how to…  Read more

As a business owner, you’ll need to stay informed about your finances and your financial situation. You do this through bookkeeping. Bookkeeping is the process of recording transactions in your business. This includes any transactions, credit card charges and any other financial activity that happens within your company. How good bookkeeping helps you Bookkeeping is vital for any business. First, it helps you understand your finances. Bookkeeping gives you insights…  Read more

If you’re a business owner, chances are you’re juggling a lot—keeping your team motivated, negotiating with partners, meeting customers’ needs, and trying to build meaningful connections in an increasingly digital world. It’s easy to feel like you’re on a treadmill going at double speed. But here’s the thing—no matter how much technology changes the way we do business, one truth remains constant: your success will always depend on how well…  Read more

Social media can feel overwhelming. With so much noise and so many platforms, where do you start? The truth is, a great social media strategy can transform how you connect with customers and help to grow your business. The reach and accessibility of social media platforms are unprecedented. They connect businesses with a vast audience, in real-time. Besides their broad reach, social media platforms also serve as a valuable tool…  Read more

Ever wondered how companies price custom projects accurately? The secret can be found in a method called job order costing. For small business owners and entrepreneurs, understanding this process could be the key to increasing your profitability and ensuring that every job is priced just right. Welcome to a world where every material, man-hour, and overhead cost is meticulously tracked to unveil the true cost of doing business. Let’s explore…  Read more

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 transitions can leave employees feeling uncertain, disengaged, or even overwhelmed.  If you’re a change leader or small business owner, you’re probably asking yourself, “How can I guide my team through this while keeping morale intact?” You’re in the right place.…  Read more

Successful businesses don’t just invest in tools and innovation—they invest in their people. An employee training program is a strategic way to empower your team, close skill gaps, and cultivate loyalty. But where do you even begin to craft a program that truly makes an impact? This guide will walk you through actionable steps to develop an effective employee training program that aligns with your business needs and leaves your…  Read more

It’s amazing how some books stand the test of time. Stephen Covey’s The 7 Habits of Highly Effective People is one of those. Although it was first published over three decades ago, its lessons are still incredibly relevant for business owners. You might wonder – how do these habits fit into today’s landscape of changing trends, tight deadlines, and constant distractions? The short answer is, they’re timeless because they focus…  Read more

We are currently witnessing a remarkable transformation driven by artificial intelligence (AI) and automation. While these advancements promise to enhance efficiency and speed, business owners must recognise the enduring importance of soft skills in their teams for long-term success and competitiveness. The World Economic Forum’s Future of Jobs Report highlights the disruption of skills we will see in the coming years, pinpointing critical competencies for future success: Analytical thinking Creative…  Read more

In business, your capacity to meet deadlines can significantly influence your reputation. It’s not just about delivering quality work—it’s about delivering it on time. Meeting deadlines not only builds trust with clients but also ensures your operations run like a well-oiled machine.  Let’s explore ten essential tips to help you master the art of timely project delivery. Make deadlines non-negotiable Treat deadlines as sacred commitments rather than mere suggestions. By…  Read more

Running a small business is a constant juggle, and one of the more frustrating tasks is managing your receivables. How often have you found yourself waiting on overdue invoices, wondering if you’ll have enough cash flow to cover next month’s expenses? If this sounds familiar, you’re not alone. Many small business owners struggle with keeping their accounts receivable in check, which can ultimately impact their business’s health and sustainability. In…  Read more

Starting a business is a thrilling adventure, filled with dreams of innovation and success. But let’s be honest—it’s also a bit of a gamble. Many startups face obstacles that, if not navigated carefully, can lead to failure. While vision and leadership are often highlighted as crucial elements, it’s the relentless grind of hard work and experimentation that truly makes the difference. Let’s dive into some common pitfalls that every budding…  Read more