Many times, people will tell me they want to grow their business when in fact, what they are saying is that they want to stop losing money. But as I said in another article, your business must be successful before you can start thinking about growth. And if you want to grow, you must understand
Many of you have been asking me how to grow your business. First of all, it is important to determine what exactly you mean by business growth. Today I want to talk about the basics of business growth. In the coming weeks, I will share advice about the main types of business growth strategies, how
Today, I want to talk about how to do the best possible preparation for a loan application. You will need to have a good business plan and good financial records. You also need to know how much money the bank may be willing to lend to you. And you should be aware of the additional
It is normal for a business to lose 10–25% of their customers every year. If you are losing more than that, it is a wake-up call for you to take action. There are 5 main reasons why a customer will turn their back on your business: Your customers no longer need your product or service
In a previous post, I showed you some basic strategies to use to retain customers. If you have mastered the basic strategies, it is time to start using more advanced strategies for customer retention. These advanced strategies are also great if you have a bigger business. Reminder: your starting point needs to be excellent customer
The first question to ask yourself is whether you are selling the products and services that customers want. If not, they may buy 1 or 2 things from you and then never come back. If you are sure that you are selling what customers are looking for, then let’s start by talking about basic customer
Social media is the new word-of-mouth. When you know how to use it, you can get more customers to come to your business and thereby increase your sales and profits. Today, my focus is on how to market your business on Facebook for free. I have chosen Facebook because 50% of the world’s population is
One of the main challenges that you have told me about, is how to get more customers. Today, I will show you 10 ways to do this. Next week, I will show you some free online marketing strategies for your business. The week after, I will give you some strategies to retain your customers. 1.
COVID-19 is among us and may remain with us for a very long time. Even if a vaccine is ready by the end of 2020, it may take several years before the largest part of the world population has been innoculated. And even then, things may not return to the way they used to be.
In a previous post, I showed you how banks calculate what they are willing to lend to you. I also showed your how how to do your own calculations so you can have an idea of how much money you will be able to borrow. There are also other factors that determine if a bank
When they are deciding whether to give you a loan, there are 2 main things banks want to know: Does your business have enough cash flow to repay the loan every month? Will you be able to do repayments on time? In a previous post, I gave you an overview of the various sources of
Banks are not the only place to get money. Today, I will discuss 12 sources of funding. I will start with those that are of interest to small businesses and finish with those that are of interest to larger businesses. In another post, I will explain how banks decide how much money to lend to
