Blog
Three ways to avoid the F word
posted: 13 July 2011
‘F’ is for fail, and no small business wants that, so here are a few tips. They may sound simplistic, but getting back to basics is often what’s needed:
- Cash is King
You’re probably over hearing it but the old adage holds true. Each month, make a habit of reviewing your expenses and either reducing or eliminating unnecessary ones. Other ways to improving your cashflow may involve reviewing your purchasing and better managing slow paying customers.
- Stay competitive, agile and efficient
Always review your marketing – including pricing, products and what your competitors are doing. If your business is seasonal, plan some simple marketing strategies during the quieter times to keep you afloat. Examine your business processes, and ask yourself if you could be doing things better.
- Enhance your web presence
The Web is the new marketplace. If your business doesn’t have a web presence, there is little doubt it’s missing out on vital sales leads and opportunities. Enhance your share of the pie with an effective website, coupled with search engine optimisation (SEO) and possibly a Google Adwords campaign.