Date: 12/01/2018 | By: Gill Hutchinson
Diversification is a sound financial planning strategy, but does it work for company building?   How does Vitamix get away with charging £600 for a blender when reputable companies like Cuisinart and Breville make blenders for less than half the price?   It’s because Vitamix does just one thing, and they do it better than anyone else.      WhatsApp was just a messaging platform before Facebook acquired them for $19 billion. Go Pro makes the best helmet mounted video… Read More
Date: 10/01/2018 | By: Kevin Brent
This blog is about your Envisioned Future and follows on from the ones on Core Ideology – Core Values and Core Purpose. So you should have a strong sense of purpose as a team and identified and tested your culture – the things that define you as a team and as a business – and you should understand why these are so important.  If not then please take a look at the previous blogs. Now we have done that and… Read More
Date: 05/01/2018 | By: Gill Hutchinson
The ultimate test of your business can be found in a simple question: would someone want to buy your company?   Whether you want to sell next year or a decade from now, you must be building an asset someone would buy – otherwise, you have a job, not a business.   Here are eight ways to ensure you are building a company, not just doing a job:   A job requires that you show up at work to make… Read More
Date: 30/12/2017 | By: Gill Hutchinson
When was the last time you had your blood pressure tested?   Taking your blood pressure is one of the first things most doctors do before treating you for just about anything. How much pressure your blood is under as it courses through your veins is a reliable indicator of your overall health; and it can be an early indicator of everything from heart disease to bad circulation.   Does it tell the doctor everything they need to know about… Read More
Date: 22/12/2017 | By: Gill Hutchinson
What are your business goals for the year? If you’re like most owners, you have a profit goal you want to hit. You may also have a top line revenue number that’s important to you. While those goals are important, there is another objective that may have an even bigger payoff: building a sellable business.   But what if you don’t want to sell? That’s irrelevant. Here are five reasons why building a sellable business should be your most important… Read More
Areca Design business growth
Date: 18/12/2017 | By: lizpaintercommacomma
Having a sounding board is key   When we asked Mick Hurst at Areca Design about the benefits of working with BizSmart, he emphasised the value of having a sounding board in your business – someone you can bounce ideas off.   He told us, “It’s lonely at the top so having that sounding board is incredibly valuable. You probably already know what you should be doing, but your core advisor gets it out of you.”   This is the… Read More
Date: 15/12/2017 | By: Gill Hutchinson
To grow a valuable business – one you can sell – you need to set up your company so that it is no longer reliant on you.   This can be easier said than done, especially when, like a PR consultant or plumber, what you are selling is your expertise.   To scale up a knowledge-based business, you first have to figure out how to impart your knowledge to your employees, so that they can deliver the goods. However, it… Read More
Date: 08/12/2017 | By: Kevin Brent
This blog on Core Purpose follows on from the one on Core Values and together they make up what Jim Collins calls your Core Ideology. Together with our Envisioned Future which we will come on to later, they make up our Vision – a fundamental starting point for creating a robust strategy. So we should now have worked on our core values and started to get some buy in from our team – so what do we mean by Core Purpose? It… Read More
Date: 08/12/2017 | By: Gill Hutchinson
The holiday season, although it may seem strange, may be the perfect time to increase the value of your company.   The most valuable businesses are the ones that can survive without their owner. A buyer will pay a premium for a company that runs on autopilot and levy a steep discount for a business that is dependent on its owner.   This holidays, consider taking an extended break from your business to see how things will run when you’re… Read More