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Business Growth News
Business Growth News - Your priceless business growth news and adviceTo view the complete December 2006 issue, click on the ‘Documents’ tab and scroll down to ‘Business Growth News Dec 06'
In this months issue of ‘Business Growth News’
• LESSONS FOR GROWING COMPANIES… The expectations of clients continually change, with competitors coming out of nowhere, and sometimes disappearing just as quickly, our companies are flatter, and we are working harder and hopefully smarter. But what are the lessons we've learned? One surely would be, to keep our company growing, we need to hire versatile employees.
• FUNDING YOUR BUSINESS GROWTH… Growth consumes cash. Taking proactive measures to reduce your bank line, your cash cycle days or getting customers to fund your growth, can dramatically improve your cash position and so business growth. It is worth getting your executive team together to brainstorm effective ways you can immediately reduce your cash cycle and double your operating cash position. Below are 10 areas of opportunity in reducing your cash cycle:
• GETTING BRANDING RIGHT… Let's get something straight at the start - branding is not about how you spend your marketing dollars (although that may have some effect). Branding is all about engendering strong customer loyalty and enabling the owner of the brand to maintain a premium price position. It is about nurturing and investing in your company 'image', so that it wields it's own power. Talking to many executives, they equate brand-building with running advertising campaigns; and complain they cannot afford to run ads. Smaller business builders are often the worst offenders in terms of misunderstanding what branding is all about.
• FEATURE SERVICE- FINANCIAL PERFORMANCE… If you don't know where you are going ... how will you know when you get there? If your staff don't know where you are going ... how will they know how to help you get there? If you are going to run out of finance before you get there ... why are you going there anyway?
Edensilk P/L the Business Growth Architects.
Edensilk Pty Ltd
40 Stuart Street
Maylands WA 6051
enquiries@edensilk.com.au