It is essential for all businesses to have a realistic, working business plan. It is not only used to monitor your performance and to align your workforce but can also be a useful document to secure external funding. What is a Business Plan? In detail, a business plan is a written document that describes a business,…
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Why Contingency Plans are a Must Running a business comes with a lot of stress and can get even more complicated when it grows. Not only do your costs increase, but your workforce and competitors can too. Business can be unpredictable and there are always occasions where the unexpected can and will happen. It could…
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Supply and Demand refer to the balance of what a business can deliver and what the target market wants. There are several variables which can affect this equilibrium – the main factors being Price and Quantity. The selling price of a service or product will be pre-determined by how much suppliers will charge you to…
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In business, developing an effective workforce is key. Workforces are the cogs and gears operating your business, making it tick. If a cog were to get rusty or weaken, then the rest will have to compensate – weakening them too. There must be procedures and measures in place for the workforce to adapt and continue…
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Just like people, companies have unique personalities. It is the personality of a business that encompasses its values, principles and attitudes, making up the brand. A brand should be reflected in a company’s approach and how they operate. This reflection is the company’s culture. What is Company Culture? Company culture defines the environment in which…
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Here are the Top 10 Tips the Hayward Miller Team have put forward to help improve your sales: 1. Research your Prospect. It is important to research your prospects – this can include their industry, their company history, financials and their visions. It is vital that you understand your client’s perspective and how your clients…
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In business, we are often inspired by the leaders of successful profitable businesses. We assume that the CEO’s and Managing Directors are the great leaders behind the success simply due to their position and wealth. We assume they possess qualities that led to their position today, however, profitability and successfulness do not determine great leadership.…
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Qualifying a lead vastly increases the chances of a sale. Qualification is the process a lead goes through as it passes through the sales funnel to become a customer. But how would this Qualifying process work? One of the most efficient methods of qualifying leads is through using B.A.N.T. Budget – Are the prospect’s funds…
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A common misconception surrounding sales calls is that callers pitching their product or service are all cold calling. This implies that the callers are blindly contacting whoever they can get details on and delivering their sales pitch without any prior research on who their relevant target market is. The Stigma surrounding Sales We have all…
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