Summary Why this is important Without customers you have no business. You will need to put as much effort into winning and keeping your customers as you do in providing products or services. Working closely with your customers, understanding their motivations and why they chose your business will help you to keep their custom and […]
Read more »
Summary Why this is important To be successful, you need to have a firm view of where you want your business to go. A clear vision of the future helps you react effectively to changes inside and outside of your business and the challenges presented to you at any given time. Having a vision means […]
Summary Why this is important Having equipment, tools and materials at the right quality is essential for the performance of your business. Receiving a sub-standard batch of materials may make it impossible for you to fulfil an order and finding a cheaper or more efficient supplier may be critical in the longer term. This applies […]
Summary Why this is important Buying the equipment, tools and materials that you need at the right price, time and quality affects the profitability of your business. This section looks at your need for: equipment; utilities (such as gas, water and electricity); materials and other supplies; and technology. Some will be more important than others […]
Summary Why this is important When operating as a freelancer, you are your business and your skills are your service. Through successful engagements or contracts and applying your skills you will build your reputation. You need to be able to sell your skills to customers and promote your achievements, while negotiating favourable contracts. Planning is […]
Summary Why this is important The processes, procedures and systems of your business together make up your business infrastructure. The right infrastructure in your business will help you achieve your business goals and improve your competitiveness by: improving efficiency; allowing staff to work effectively; managing running costs; helping you offer a high quality integrated service; […]
Summary Why this is important Entering into a contract for new business premises will often be the largest commitment of cash a business will make. As well as being a significant financial commitment it means taking on the responsibility of a property that needs to be agreed under the right contractual terms, over an appropriate […]
Summary Why this is important When choosing premises for your business you need to think carefully about your own needs and that of your business. The type of premises you need depends on the type of business you have, and other issues such as, whether you need to be close to your customers or suppliers, […]
Summary Why this is important Choosing the right location for your business can be a complex task and may have a significant impact on the customers you attract and new and existing staff, as well as the suppliers you deal with. It can also be a big investment in time and money. You will need […]
Summary Why this is important Monitoring the social performance, or social return, of a social enterprise is key when making sure that the social enterprise is achieving what it was set up to achieve. It is also an important way of showing your stakeholders that you are achieving what they want you to achieve and […]
Summary Why this is important Your idea may be for a completely new product or invention, a change to an existing product or a new service. Whatever your creative idea is, you will need the help and support of others to realise it, either through giving their time to help you crystallise your thoughts, money […]
Summary Why this is important Buying an existing business may be a viable option for anyone who wants to run a business but doesn’t have their own business idea. It is advisable to carry out a considerable amount of research into the business you are looking to buy; to make sure you can make it […]
Summary Why this is important At some point you will leave your business and need to prepare to handover to someone else. Whether through retirement, sale of your business, passing it on to a family member, floating or merging your business it is important to plan your exit well in advance so you can move […]
Summary Why this is important Quality can give your business a competitive edge and can help you to keep and gain more customers. Quality can affect: the performance of your business overall; your marketing and sales activities; how you develop and produce or provide your products or services; how you keep business records; and how […]
Summary Why this is important There are many times when you will want to make changes to improve your business. It is important that you make them effectively so that they disrupt your business as little as possible and achieve what you want. Who might do this You might do this if you: have recently […]
Summary Why this is important Making sure your plans for your business are carried out properly is a valuable thing to do to make sure that your business actually goes in the direction you want it to. Who might do this You might do this if you are running: your own business; a franchise or […]
Summary Why this is important If you regularly review your business you will have a clear idea of how it is doing. This will help you to: spot problems quickly and deal with them before they get out of hand; see what opportunities there are for your business; see what threats it will need to […]
Summary Why this is important Taking the time to think about where you want your business to go and how you want it to get there will mean that your business is much more likely to do what you want it to do. The most important part of this is thinking everything through. It is […]
Summary Why this is important You need to properly define a product or service before you offer it so that you: offer the right product or service for the market; charge the right price for it; and sell enough to achieve what you want to achieve. Who might do this You might do this if […]
Summary Why this is important You need to check a new business idea to see if it will succeed. This will: help you know that an idea is worth developing further; and stop you wasting time and money on an idea that will not succeed. Who might do this You might do this if you […]