by david@numbercraft.us | Nov 21, 2023 | GUIDES: Resources for Starting Up
Here are some of the questions about starting a business that come up frequently. Q: I’m thinking about turning my hobby into a business. Do I have to form a corporation? A: No, you don’t have to form a corporation to start a business. There are three basic business...
by david@numbercraft.us | Nov 20, 2023 | GUIDES: Sales & Marketing Resources
Two examples of this effective technique show you how you can set up your own focus groups. The concept of focus groups simply involves gathering a few your target market customers together, and then putting a series of questions to them. It’s best to get an outside...
by david@numbercraft.us | Nov 19, 2023 | GUIDES: Resources for Starting Up
Document the positives in your business plan to persuade both yourself (the most important person) and stakeholders such as lenders, investors, suppliers and potential customers that your business idea is sound. 1. Your idea has a strong point of difference To survive...
by david@numbercraft.us | Nov 18, 2023 | GUIDES: Business Planning Resources
Many service providers simply pitch their price somewhere near the middle of the prevailing market rate. But it makes sense to calculate your overhead costs and hourly rate to work out what price you should charge to ensure the income from your business meets your...
by david@numbercraft.us | Nov 17, 2023 | GUIDES: Exiting & Selling Resources
Planning for the succession of a business is an important and sometimes overlooked part of a business plan. It’s an inevitable period in the lifetime of all successful businesses – so it’s best to weigh up the options early. Keeping your business in the family The...
by david@numbercraft.us | Nov 16, 2023 | GUIDES: Financial Resources
An asset ratio compares your assets to another part of your business. So, you could be comparing assets to revenue, profit, the number of employees or their salaries – whichever you wanted to measure. For example, if your assets/salaries ratio increases, you may have...
by david@numbercraft.us | Nov 15, 2023 | GUIDES: Increasing Profit
Running a successful business is a juggling act between cash coming in and cash going out. If you’ve built up a cash reserve, you’ll be better able to stay in business and handle short-term issues like falling sales. Build a cash buffer Businesses generally fail...
by david@numbercraft.us | Nov 14, 2023 | GUIDES: Management Resources
If you’re buying or selling a small business, it’s critical to know what the business is worth. The challenge is that what you think a business is worth, and what the person on the other side of the fence thinks it is worth, are usually two different figures. In the...
by david@numbercraft.us | Nov 13, 2023 | GUIDES: Resources for Starting Up
1. Generate sales as quickly as possible Your first priority when you launch your business is to gain some traction in the market as quickly as possible. Some tips: Ensure you have a compelling point of difference Build and promote your credibility Work for free or...
by david@numbercraft.us | Nov 12, 2023 | GUIDES: Business Planning Resources
There are a number of ways to arrive at the price to charge customers. Regardless of which method you use for pricing your product, you’ll need to know what it costs to supply your product to be sure you’re able to operate at a profit. Alternatively, you’ll need to...
