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Inflation – Reducing the Risks to Your Business with the 5 Cs

Inflation – Reducing the Risks to Your Business with the 5 Cs

In my previous post, I touched on why a little inflation is desirable, but high inflation almost inevitably leads to a recession, and presents a number of challenges and risks to business, including: Rising input / running and borrowing costs Declining customer demand...
4 is the New 2 – How Becoming a B4B, or B4C, Business Will Boost Your Company

4 is the New 2 – How Becoming a B4B, or B4C, Business Will Boost Your Company

We’re all familiar with the terms B2B (Business to Business) and B2C (Business to Consumer) to describe a company’s market focus. But what about B4B and B4C? Quite simply, it’s about shifting the company focus from one of selling to your customer, to working for your...
“There is only one boss. The customer. And he can fire everybody in the company from the chairman down, simply by spending his money somewhere else.” – Sam Walton

“There is only one boss. The customer. And he can fire everybody in the company from the chairman down, simply by spending his money somewhere else.” – Sam Walton

Is anybody better able to make statements about customers and business than Sam Walton? After all, he founded what is now the world’s biggest retail group, Walmart, as a discount store in Rogers, Arkansas, just under 60 years ago, in 1962. Today, that single discount...
“Stopping advertising to save money is like stopping your watch to save time.” – Henry Ford

“Stopping advertising to save money is like stopping your watch to save time.” – Henry Ford

I’m always amazed by how often one of the first areas cut when a business is looking to save money is advertising / marketing. Henry Ford perfectly sums up why this is a case of ‘penny wise, pound foolish.’ The problem is that advertising can, and should, lead to more...
Defining Your Ideal Customer Boosts Profits

Defining Your Ideal Customer Boosts Profits

Do you know who your ideal customer is? Who you would most like to have as customers for your business, and is your business set up to attract and retain them? Businesses often evolve from selling to an initial small base of customers to trying to serve a wider and...
Leadership in Times of Crisis – 5 Cornerstones of Effective Action

Leadership in Times of Crisis – 5 Cornerstones of Effective Action

With anarchy gripping parts of South Africa, business owners here – even those not directly in the path of the violence – are facing the real prospect of serious issues with their businesses: staff safety, supply chain, customers, payment systems and general...