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Business Strategy

How To Value A Small Business

If you’re buying or selling a small business, it’s critical to know what the business is worth. The challenge is that what you think a business is worth, and what the person on the other side of the fence thinks it is worth, are usually two different figures. In the end, the motivation for both buyers and sellers is always the...

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Preparing a Business Plan

Your business plan is a management tool and is designed to suit the structure and needs of your particular business. There is not a one-size-fits-all business plan, or a set formula that you have to follow. This leeway to design your own business plan can feel quite daunting at first, but this is easy to solve if you identify the reasons ...

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Calculating Your Break Even Point

Before you start a business and perhaps leave a job, try working out if the venture will be worth the risk. By now you may be confident there is a genuine demand for your product or service, and that the market will pay your price for it. The next step is to work out how much you need to sell each month (hours of time, or quantities of pr...

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Undertaking Your Own Market Research

Whether you're thinking of starting a new business, considering adding new products, opening a new branch, or increasing the services you offer, it's common sense to research your market to make sure there is sufficient support for your idea.
There's little point adding the latest top-of-the-range spa pool to your product range,...

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Why It Can Pay To Buy An Existing Business

If you’re looking impartially and unemotionally at the options ahead when starting your own business, you have to admit simply buying one already in operation is incredibly appealing. Not only do you get experienced staff and an existing customer base, you also get established premises, a well-known brand and a network of suppliers thro...

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