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Epic Formul a To Manage Your Business For Growt h  The Five Key Areas To Focus on  When there s so much going on in a busi...
Most businesses can be broken down into five key areas being  1. 2. 3. 4. 5.  Your product, service or solution How you ma...
1. Your product   service  sol ut ion This is probably the most difficult for business owners to delegate or outsource i.e...
2. How you Market , Promot e and Sel l Marketing is experiencing a massive shift currently, with digital marketing and soc...
Once you ve got someone s interest, it pays massive dividends to keep track of their contact details on a CRM system  Cust...
what business owner has the time to keep up to date with all of this   Don t think of it as a cost, but an investment in t...
salespeople. For example your product may help a client to save lots of money  time. If so an ROI tool really helps them t...
There are some great tools available online that can help salespeople to stick to the system - check out www.Pipedrive.com...
3. Operat ions and Finance The best way to proactively manage your operations is to systemise them. In order to set up a s...
Systems can take many forms e.g. manuals or a web based method. Web based methods for many business processes are popular ...
This can easily be systemised for sales staff so that they know the which products go into the optimum position. You as th...
4. Finance This is the lifeblood of your business - profit and cash are the key elements. Cash comes from profit and profi...
Break-even Point An often overlooked but vital number in business. It s the amount of sales you need to make to cover your...
Pricing As mentioned above, this is impacted by the costs of delivering your product or service. If you want to make a pro...
Running Expenses These are the expenses incurred in the day-to-day running of your business e.g. rent, admin wages, market...
All of this is a great start to ending up with a profit in your business. Profit is great, and what is also vital to runni...
Suppl ier Payment s The time it takes you to pay your suppliers is another opportunity for managing cash, so it spends as ...
Job  St ock Jobs take time to finish and stock sits in store for some time, before being sold or used on jobs. During this...
Taxes and Loans We may not like having to pay tax, but unfortunately it s a fact of life. If you want to run a sustainable...
If you need to borrow from an outside lender e.g. bank you will need to provide good information to support your loan appl...
Owners Money If you can t or don t want to borrow from an outside lender, you may need to put in your own funds or seek in...
You can download a template Budget and Cash Flow Forecast to help you. Summary -  Systemise your operations Get the knowle...
5. Human Resources HR management is a stumbling block for business big and small. Very few handle it well and proactively....
You will need to come up with Job Descriptions for those you employ, so there is clarity about what is expected. A well do...
Summary  -  Consider HR Management as a way to develop people Have an  Organisation Chart  Have clear Job Descriptions for...
If you provide a great product  service, people will tell others and you will get more customers, conversely if you provid...
Summary -  Recognise Customer Service is vital to business success Ask customers what they think Ask customers how you can...
Market ing If you want to keep pace with the market you need to keep letting them know who you are and that you are ready ...
Operat ions When you have made a sale and it s time to deliver to your customer. To ensure a consistently high level of se...
Human Resources Happy staff provide great service to happy customers who are happy to pay, so how happy are they  -  WHS i...
Systems to track KPIs can be as simple as a spreadsheet. However there are so many terrific systems available to keep trac...