Every business owner knows that it's wise to manage your business with the long term in mind - which includes planning the appropriate exit strategies before retirement. You have to plan not only for the transition of management, but also for the most beneficial way of getting your money out.
The statement "Cash is king" is not an oft-repeated saying for nothing. All types of entrepreneurs have come to realise-whether through the easy way or the hard way-that without efficient cash flow management, a business can't survive, much less prosper.
The secret to boosting employee engagement - which leads to efficient business process improvement - is ensuring that you and your team are all in on the HR strategies of your operations. However, you first need to understand what employee engagement truly is.
You probably don't need a consultant or business advisor to tell you that emails can be a huge drain on your time.
While the email certainly has been one of the most important innovations in the workplace, many studies have proven that we spend around 28% of our work week writing, reading, and sorting emails. That's a lot of time that could be spent more productively.
Given the difficulties of the current economic cycle, the thought of acquiring another business is probably not on your radar. However, acquisitions can be, and have long been, an excellent way to quickly increase revenues, expand products or service offerings, improve market reach and increase the value of your business.
Is your business performing as well as you'd hoped when you started out? It's a cruel fact that some businesses are already dead, but their owners either don't know or won't accept it yet. So what are the signs that it may be time to move on with your life?