Entrepreneurs are known for their great ideas, and quite often that is the key to their success. Many business owners are keen to make changes to the way their enterprises are run, being passionate about the growth and development of the business and keen to see it succeed.
However, as good as an innovative idea may be, it can only be effective if members of staff are willing to implement it correctly. If you’re having trouble with staff resistance to changes in your business, here are some strategies to overcome this all-too-common challenge: Continue reading
Cash flow is a vitally important concept for any business owner, yet many entrepreneurs don’t take it into consideration when assessing the health of their businesses – what is cash flow and how does it affect your business? Continue reading
Many entrepreneurs like to do everything themselves. From liaising with clients to dealing with suppliers, from bookkeeping and inventory to planning their product and marketing strategies, these business owners with a can-do attitude seem to have their fingers on the pulse of every aspect of their businesses – but is this an ideal approach? Continue reading
One of the worst feelings any of us can experience is going through each day with the stress and worry of bad debts on our shoulders. Whether you’ve skipped a car payment, or can’t see yourself clear to paying off your credit card anytime soon, your level of debt may be causing you serious anxiety.
If you find yourself in this situation, or are close to someone who is struggling with a debt problem, don’t despair – there is always a way to beat the cycle of debt. Continue reading
One of the first rules of wealth creation is to always live within your means in order to create a monthly surplus – and to do that, you will need to draw up a monthly budget.
To many people budgeting may seem tedious or boring, taking the fun out of life and depriving them of all the luxuries they work so hard for.
However, it’s quite possible to budget correctly while maintaining the lifestyle you deserve – here is a quick guide to balancing your monthly income and expenses. Continue reading
Like personal illness, financial illness can stop a thriving business in its tracks.
Whether economic conditions, unexpected costs, or employee negligence is to blame, running a business that is financially sick can put pressure on any entrepreneur.
Like most types of illness, a sick business can be cured if action is taken in good time – here is a guide to saving a sick business. Continue reading