It is essential to decide how to use profits from your business strategically.The decisions you make today will influence your company’s growth, stability and future success. The key part of these decisions shold be ensuring your business thrives in both the short and long term. And yes, you can also reward yourself. :-) Here are five
An organic business growth strategy refers to the sustainable, internal expansion of a business through increased sales and profitability without relying on external financing or acquisitions. For small and medium enterprises (SMEs), this form of growth is essential for building a resilient and self-sustaining business. Organic business growth strategies prioritise long-term sustainability, employee and customer satisfaction,
Market gaps are everywhere. The question is how to find profitable market gaps that are a good match for your skills and resources. A market gap can be defined as follows: How to find profitable market gaps The best way to find profitable market gaps is to expose yourself to new experiences, new ideas and
Businesses in emerging economies sometimes hesitate to reinvest profits Reinvesting profits is a crucial strategy for the growth and long-term success of any business, particularly small and medium businesses in emerging economies. Reinvesting profits allows businesses to expand their operations, reduce costs and build a strong financial foundation. Yet, despite the many benefits of reinvesting
Many businesses don’t know who their Most Profitable Customers (MPCs) are. That is a problem, because the Most Profitable Customers are the foundation of any successful business. They are also the best way to achieve faster business growth. Why? Your Most Profitable Customers bring in most of your profits About 80% of your sales comes
Quick answer: they combine an organic business growth strategy with a long term vision. Many of the small and medium businesses (SME) that I work with are family businesses. Topics that we work on include how to get more sales and increase profitability. For all of my clients, their key focus is how to keep
SMEs often tell they want to grow their business when in fact, what they are saying is that they want to stop losing money. If the challenge you are facing is a lack of sales, lack of profit or lack of customer retention, you need to deal with those issues first before we can talk
What is a business model? A business model explains how a business makes money. For a retail store, the business model consists of selling physical products to the customer either through the brick-and-mortar store or through online channels. For a service business, the business model consists of creating and providing value to customers by selling
Small and medium-sized enterprises (SMEs) in developing and emerging countries have a significant potential for growth as the economies in these countries continue to expand. These businesses play a vital role in driving economic development, creating jobs and promoting innovation. In this article, I want to talk about how you can accelerate your business growth
After my last article explaining how to double your sales in 3 years, and what strategies to follow to do so, some of you reached out and asked me about strategies to double the size of your business in 1 year. Many of you know that it is possible to double your business, but you
When you know who your most profitable customers are, you can focus on making sure that they are happy. This will lead to higher profits.
In business, you cannot realise your dreams unless you have funding. This requires you to know ways to increase sales fast. While there are many places where businesses can get funding, generating money within your business is a key source of funding for business growth. Money that you generate within your business reduces your dependence
