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Growing a Business

Business planning is not just for startups! Growing businesses need a thorough business plan to take them to the next level be it to secure additional funding, to decide the future strategic direction or to launch a new product or service.

 

The Importance of Traction

While the phrase ‘traction’ has typically been associated with tyres, friction and slippery driving conditions, its use is increasingly common in entrepreneurship and venture capital circles. This article explores what it means and how it applies to your business. Defining Traction The typical entrepreneurship journey moves through various stages, from idea conception to business plan [...]

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Who is in charge?

Decisions are never straight forward. We all have to make decisions armed with the best information at our disposal at a particular point in time, weighing up the Pro’s and Con’s before deciding on our chosen course of action. However ‘best information’ does not of course equate to ‘complete’ or ‘accurate’ information and many decisions [...]

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Business Advice

Introduction While running a small business is very rewarding, it is not easy, yet more and more of us are being enticed into starting a business, encouraged by an increasingly supportive government, which promotes entrepreneurship at every opportunity. This is good news after all; as entrepreneurs innovate, we as consumers benefit as they produce products [...]

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Black Swans and Strategic Planning

Having written previously on ‘Planning in times of uncertainty’, I felt it necessary to revisit the subject given the continuing uncertainty we all face. My core argument in that article was relatively straightforward: that planning becomes more important in times of uncertainty, rather than less so. As The Economist proclaimed in a recent edition; “Precisely [...]

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Planning in times of uncertainty

Business Planning Tips In the past few weeks we have witnessed a period of unprecedented economic turbulence and instability. Of course this uncertainty is not just affecting us here in the U.K., but in a globalised economy it is affecting people right across the world. Years of consistent economic growth have given way to rising [...]

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Bootstrapping your way to success

Getting started without external funding Economic downturns tend to be self fulfilling. We all help to drive market conditions, so if we all decide to ‘batten down the hatches’, and become more risk averse we all contribute to prolonging a downturn. However though it may sound counterintuitive, an economic downturn is as good a time [...]

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Planning in times of extreme turbulence

Now Is the Time to Plan September has witnessed a period of unprecedented economic turbulence and instability. Of course, this uncertainty is not just affecting us here in the U.K.; in a globalised economy it is affecting people all across the world. Years of consistent economic growth have given way to rising unemployment, increased costs, [...]

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The Importance of Planning – Steps to recession-proof your business

Planning to Reduce the Impact There is a lot of uncertainty at the moment (May 6, 2008) with much talk in the media of an ‘impending economic downturn’. While the phrase ‘recession’ seems to be close to many people’s lips, it is being muttered in hushed tones rather than being shouted from the rafters. In [...]

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Why Business Planning Is Not Just for Startups

Small Business Planning One of the greatest misconceptions about business planning is that a business plan is useful only for start-ups. While start-up companies are indeed one significant segment of business planners, business planning is being utilised by an increasing number of companies as a means to manage growth better, to ensure new ideas have [...]

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New Years Resolutions for Entrepreneurs

The Top 6 Priorities The New Year is synonymous with resolutions and promises of making changes. If you are an entrepreneur, this time of year offers you a perfect opportunity to take stock of your business, as emails are probably at an all-time low over the holiday period. Here is my checklist of priority resolutions [...]

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