Summary Why is this important? Money is the life blood of any business. Without it a business would be unable to pay its suppliers, staff or invest in the future and could quickly cause a business to fail. Understanding the principles of cash flow management will help you design and plan the financial processes a […]
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Summary Why is this important? For a business to be successful it needs to have a plan of how it will get there. To achieve success a business needs resources including money, skills, and tools (for example, an effective IT system). Understanding the importance of planning how a business will get the resources it needs […]
Summary Why is this important? There is a lot of advice and support available for businesses, much of which is free, so it is important to take advantage of the resources available. Knowing what is available and where to find it can help you in planning, starting-up and growing a small business. Support can range […]
Summary Why is this important? Making successful deals in business is crucial in helping a business become competitive and achieve its goals. Businesses negotiate and make agreements with a variety of different parties including customers, suppliers, staff and financiers. Valuable lessons can be learnt from understanding how successful entrepreneurs have effectively negotiated deals. Who might […]
Summary Why is this important? When considering a future business it is important to know that there is a market for the product or service it offers. Having established what the market is you need to plan how to reach it. Once a customer base is secured you need to plan how you are going […]
Summary Why is this important? Being able to identify business opportunities and their potential for growth is one of the keys to business success. When considering a potential opportunity it is important to take the time to assess the strengths and weaknesses of the proposition and be aware of any risks that may be involved. […]
Summary Why is this important? When deciding what type of business to set up in the future it is important to consider what business will best suit you. This will depend on your own skills, talents and attributes, what you enjoy and what you would like to get out of a business in the long […]