A good marketing strategy attracts the right kind of business. It’s important to examine each part of the strategy, to ensure that you achieve maximum benefits.
What is a marketing plan?
This is a document that spells out the company’s goals and the proposed strategies and business tactics that can be used to achieve them. It should be flexible and should reflect current trends to help you stay ahead of competitors.
Important steps to consider: Identify the audience each activity is targeted to: Read more
Competition for high-paying jobs is fierce nowadays. As a result, an increasing number of people are choosing to work for themselves. Teenagers should be encouraged to gain valuable skills by getting exposed to business from a young age. This way, they can learn and start their own businesses, which when managed properly, can grow to become large multi-national corporations. Let’s have a look at a few creative business ideas for teens:
Running a small business can have great opportunities and potential. It also comes with numerous demands and challenges. Business owners require a specific skill set to run successful businesses. They also need to be able to manage funds effectively and efficiently.
Why cash management is important: Managing the use of cash flow is important and enables the business to run more efficiently. Part of this is ensuring that there is a balance of debt and income. By managing cash efficiently while still a small business; it will make the transition to being a larger corporation simpler. Read more
Advertising is a powerful tool used for bringing your product or service into the public eye to attract customers. Effective management of advertising funds can help to improve overall business functioning. Here are a few ways you could get the best results out of your business advertising budget:
Define your target market:
When you have a product or service that you want to promote, advertising is the most powerful tool you can use. When you are fortunate enough to have a business that has a budget specifically designated for advertising, a wise move would be to find ways of ensuring that you use these funds effectively. Read more
The process of selling a business can be complex and challenging. Hiring a business broker to handle this process may be the easiest way to get the results you are looking for.
Business brokers are usually responsible for negotiating the sale and purchase of businesses. They act as middlemen in business negotiations by acting on behalf of the buyer and seller. They provide specialised services so they charge a hefty fee for their services. Before you consider acquiring the services of a business broker, consider the benefits and disadvantages:
Entrepreneurs usually have a vision of how they want to run their business. Achieving this vision means that they need to choose the best type of business ownership. Here are the various business types you can register in South Africa:
Sole Proprietor: The simplest business entity, sole proprietorships are businesses started and owned by individuals. There is no separation of assets and liabilities and these businesses cannot have partners, but only employees. The sole proprietor is held personally liable for any debts that the business incurs. Read more
Getting a small business off the ground is challenging, especially without much finance. There are various ways to fund a small business.
Here are a few ways you can access to the capital you need:
Self-funding: Most privately-owned businesses tend to start with funds raised internally. Many small business owners take a risk by financing their businesses using their own bank accounts. This gives the advantage of having direct access to money. A disadvantage may be that personal finances are tied up with business funds. A simple way of avoiding confusion is to open a separate business account. It’s important to keep business records as a separate entity. Read more