Succession Planning – Have you thought about what will happen to your business when you retire?

If you have built up a successful family business, planning your exit is essential to ensure its survival as well as funding your own retirement. Whether the business is being passed to family, sold to a third party, or bought by employees, the tax consequences must not be overlooked. Where shares in a limited company, or assets of an unincorporated business are sold on for a profit, capital gains tax (CGT) will be due.  CGT is usually at a rate of 20% for higher rate taxpayers, but En...
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How To Become An Affiliate Marketer For Free

In today’s modern economy, large corporations are looking for smaller businesses to help them increase revenues. This can be done in several ways. First, by offering other vendors opportunities to sell on their website – Amazon has a good programme for this. Another option is to encourage people to become an affiliate marketer and sell their products. Becoming an affiliate marketer can also be a dream for some people. It allows for you to work from home and earn a sizable income with the righ...
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5 Business Metrics You Need To Know And Why

business metrics and a calculator
While I am not a fan of over analysis, I do think that all owners need to know certain business metrics. These will help guide strategies and assist you as leaders to develop your business and take it to the next stage. At the very least, they help you make a decent income. So, what are the five business metrics you need to know, and why? 1. Profit Margins This is an important metric I think that some business owners forget about. It is easy to look at the overall profit and loss acc...
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Are You Cross-Training You Staff?

In business, cross-training sessions, where staff are trained in an aspect of another staff member’s role, can be an overlooked yet essential task. This includes training on new software or a new procedure, and can offer security in case the employee who regularly completes this work becomes suddenly unavailable. We all know this kind of task, it’s the one that started out in your diary in January and keeps on being re-arranged, moving along to another time-slot every time you need to fit...
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10 Personal Tips For Business Success From TwoFeetMarketing

Many small to medium businesses fail, a well-known fact. Here at TwoFeetMarketing we are really proud of our success. In just three years, we’ve experienced great growth and happy customers. We have compiled a list of ten aspects we feel have made the most contribution to the success of the business. So here are or top ten tips to have a successful new digital business in 2017. 1. Question Your Plans/Ideas Find someone really honest to talk to about your ideas. If it’s just you, don’t g...
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How Sales And Marketing Could Work Together

sales and marketing working together
Two departments which are constantly fighting each other are sales and marketing. Both departments seem to be in an eternal competition to prove their greater value. However, within any small business, the rivalry between these departments could damage the long-term prospects of the organisation. It doesn’t need to be like this. Sales and marketing have the same goal – to increase the revenue of the company. They just have different tools and strategies to achieving this. Instead of be...
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How To Raise Prices – Without Losing Customers

raise your prices
During every business’ life, there will be times when the pricing strategy needs to change. If you are thinking this now, you might be wondering how you can raise prices but avoid annoying your customers. To raise your prices and then lose your customers would serve your business no good. In contrast, you might need to raise prices to cope with industry demands such as higher costs, new legal requirements or to earn a better personal income. Here are several ideas for you to consider w...
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How Annoying Employee Behaviours Affect Your Business

Employee behaviour
Your staff are the most valuable resource for your business. They help you sell to prospects, deliver services to customers and earn revenue to build a strong business. They can also be a nightmare. Research articles have regularly demonstrated how annoying staff behaviour can financially affect businesses. The employee behaviours that can impact your business’ performance include: Annoying employee habits (i.e. colleagues eating loudly/messily). Negativity (from management or col...
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The Apprentice Final: Team Selection And Knowing Your Product

So, it was the Apprentice final last night, and 12 weeks of heartache, despair and excitement are now over. First, we should say congratulations to Alana Spencer on her win and new business partner. In her victory, she has become part of a very select group of individuals. It was a close final, but there were two key aspects that contributed to the success of Alana and undermined Courtney. 1. Team Selection Alana was very careful in her team selection. She chose team members that she kn...
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Apprentice Week 11 – The Interviews

As the Apprentice entered its penultimate week, we were treated to a view of the candidates under extreme pressure. The four interviewers this year were as tough as they’ve ever been, though it did reveal a lot about the candidates. It also gave us some key lessons to learn about business, especially in regards to getting funding. 1. Don’t Hide Your Failures One of the biggest mistakes on the episode was Frances Bishop not acknowledging her failures. Her successful kid's clothing brand,...
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