Month: June 2023

How to beat inflation, twelve months on

In February 2022 I wrote the following article on inflation and how to respond with adjustments to pricing. Whilst we are twelve months inflation continues to be an economic problem and the content is as relevant today as it was then.

How to beat inflation (published 27 Feb 22)

Inflation is the media buzzword of the moment with news stories nearly every day about how the cost of living is increasing.

It is not just hype though, prices are rising in all categories driven by pandemic shockwaves which has driven surges in consumer demand disrupting the demand and supply equilibrium. The patterns many businesses used to underpin their business dynamics are not compatible with the erratic surges in demand.… Continue reading the rest of this article

How to improve your bookkeeping

Keeping on top of your businesses daily fnancial transactions is vital for long term success. That is why bookkeeping is an essential part of running any business.

If you are recording the ins and outs correctly you;

  1. Can track your income and expenses against your financial plan and budget
  2. Spot trends and make informed decisions about the future direction of the business
  3. Keep up to date with your tax and other regulatory obligations
  4. Find peace of mind. Knowing that your finances are in order can give you peace of mind and allow you to focus on other aspects of your business
  5. Create an early warning system. 
… Continue reading the rest of this article

10 strategies to increase the value of your business

As a small business owner, you work tirelessly to build and grow your company. But have you considered how to increase its overall value? Whether you’re planning to sell your business in the future or simply want to enhance its long-term potential, there are several strategies you can implement. In this post, I’ll explore ten strategies to help you increase the value of your business.

Focus on revenue and profitability

To increase the value of your business, prioritise efforts to boost revenue and improve profitability. This can be achieved through various means such as growing your customer base, refining your product or service offerings so that more people are attracted to you, fine tune pricing strategies, and identifying ways to reduce costs and improve operational efficiency.… Continue reading the rest of this article