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The Three Profits of SME's

The Three Profits of SME's | Business Improvement | Scoop.it
Daniel Watson's insight:

 

Most business owners take a very singular perspective when it comes deriving profit from their businesses, and these owners overlook the sometimes more lucrative, but not as obvious, ways to profit in their business.

 

Every business has three stages in its lifecycle that are important to success for business owners, and each of these stages, offers the opportunity to maximise the overall profits that the business is capable of generating.

 

This excellent article, suggests that understanding the three different profit sources of any business will make a significant difference to the way in which you view and manage your business, and it identifies each of these profit sources and sadvises on how to maximise each of these avenues to greater profits.

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Anake Goodall's curator insight, November 3, 2013 5:01 AM

simple, straightforward, and on point.  and i can see weaknesses in some of my own earlier efforts ...

Business Improvement
Business Advice Professionally Filtered for Quality and Relevance to Owners and Managers of SME Businesses
Curated by Daniel Watson
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Business Improvement - Intro

Business Improvement - Intro | Business Improvement | Scoop.it


 

The Business Improvement topic, is an ever growing collection of professionally filtered, quality business improvement advice, curated specifically for the owners and managers of small to medium sized business enterprises in the English speaking world.

 

If you find this topic useful to your business, please follow it and share this link http://www.scoop.it/t/business-improvement with other business owners in your network.

 

Comments on articles are always welcome, as are suggestions for improvement of this topic, but please refrain from spamming as all such activity will be immediately deleted, and the perpetrators reported to the Scoop.it team.


Daniel Watson's insight:

 

This Business Improvement topic is fully searchable.


Simply click on the funnel symbol in the tool bar and enter your search term or phrase, or alternatively scroll down the extensive list of key words to find the closest match to your query.

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obati's comment, September 28, 2013 6:49 AM
thanks
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Develop a Simple Business Plan by Answering Just Six Questions

Develop a Simple Business Plan by Answering Just Six Questions | Business Improvement | Scoop.it
Daniel Watson's insight:


Far too many small business owners, operate their businesses without ever preparing a business plan, and this missing link is often the chief reason they do not achieve their desired levels of success.


A business plan is not all that difficult to create, yet many business owners avoid the task, often because they are aware that a well prepared plan can expose gaps of many kinds that cannot always be ignored.


This excellent article, suggests that a business plan clearly identifies how much work lies ahead for a business to succeed in its chosen endeavour and provides a prioritised map of the path to follow, and it offers a six question approach that will provide all the answers needed to help a business owner to prepare a simple business plan.

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Are You Your Own Worst Enemy When E-mail is Involved?

Are You Your Own Worst Enemy When E-mail is Involved? | Business Improvement | Scoop.it
Daniel Watson's insight:


As a business owner, your biggest problem when it comes to e-mail, is probably  the limiting beliefs you have developed over time about what is proper and improper in an age of electronic communication.


A cluttered inbox, is a clear sign that all is not well in the relationship between the owner and  how they view e-mail as a communication tool, and their effectiveness in managing an growing inbox.


This excellent article, suggest that psychology is at play in most instances of cluttered inboxes, and it identifies five misguided beliefs that cause problems and then outlines six habits that business owners should adopt to enable them to do their best work.

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Progressive training's curator insight, July 15, 1:44 AM

Are You Your Own Worst Enemy When E-mail is Involved?

madhurya's curator insight, July 15, 4:26 AM

Are You Your Own Worst Enemy When E-mail is Involved?

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5 Steps to Building Business Through Relationships

5 Steps to Building Business Through Relationships | Business Improvement | Scoop.it
Daniel Watson's insight:


We have all heard the saying; It is not what you know but who you know. What it really means, is that great relationships in business will trump great knowlege every time.


Building a business, is very much linked to the levels of trust established between a business and all of those with who it deals, on a day in and day out basis.


This excellent article, suggests that strengthening a relationship and developing trust will always separate you from the competition, and it offers a five step process that can be followed to build great relationships.

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Progressive training's curator insight, July 10, 3:27 AM

5 Steps to Building Business Through Relationships

Kim Montgomery,M.A., CHBS's curator insight, July 10, 6:43 AM

This article reaffirms people do busines with those they know, like and trust. Read on & see of you agree...

Bettina Ascaino's curator insight, July 11, 9:47 AM

 Daniel Watson's insight:

 

Building a business, is very much linked to the levels of trust established between a business and all of those with who it deals, on a day in and day out basis.

 

This excellent article, suggests that strengthening a relationship and developing trust will always separate you from the competition, and it offers a five step process that can be followed to build great relationships.

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10 Traits Business Owners Need to Succeed

10 Traits Business Owners Need to Succeed | Business Improvement | Scoop.it
Daniel Watson's insight:


More businesses fail than succeed, and when all is said and done, generally business owners' lack of key traits is a major contributor in most business failures.


Business owners who succeed, usually possess a full compliment of the necessary traits, and those struggling to succeed need to identify and develop these success traits.


This excellent article, suggests that hard work and perseverance  alone are insufficient to guarantee success, and it list the 10 traits demonstrated by successful business owners that those aspiring to success need to emulate.

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Jean-Guy Frenette's curator insight, July 5, 7:58 PM

PDGMan

Bill Brown's curator insight, July 15, 9:17 AM

To be nobody but yourself in a world which is doing its best, night and day, to make you everybody else, means to fight the hardest battle which any human being can fight; and never stop fighting.

E. E. Cummings

MichaelJDay's curator insight, July 25, 2:46 AM

These look like obvious fundamentals but we must *do these* to help bring us to some level of success that we aspire to.

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5 Ways to Turn Customer Complaints into Business Ideas

5 Ways to Turn Customer Complaints into Business Ideas | Business Improvement | Scoop.it
Daniel Watson's insight:


Customers determine the fate of every business, and business owners who pay scant attention to customer complaints, need to re-examine their approach for the long term good of their business


Businesses that not only effectively address customers problems, but  also delve deeper into what other needs the customer may have, can uncover new business ideas and opportunities.


This excellent article, suggests that business owners should see customer complaints as opportunities rather than problems, and it offers five ways that business owners can utilise customer complaints to uncover new business ideas.

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Nick Davies's curator insight, July 1, 1:30 AM

Make a mistake, with a client but handle the aftermath well and you can gain a thoroughly loyal customer. I

joellemillery's curator insight, July 2, 3:55 PM

that's what service means..

John Clinton's curator insight, July 2, 9:35 PM

Interesting ideas.  It is good way to turn the negative tings into positive tings.  Complaints from customers may hide a new business or venture

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10 Tips for Effective Project Implementation

10 Tips for Effective Project Implementation | Business Improvement | Scoop.it



Daniel Watson's insight:


Plans develop into projects, and then projects are allocated to managers, who are required to utilise the resources they have at their disposal to deliver the required outcomes.


Sounds simple, but in reality far to many projects fail to deliver the outcomes expected, or fail to meet the deadlines by which the outcomes needed to be delivered.


This excellent article, recognises that effective project implementation is not something that happens without a lot of planning, and it offers 10 tips that business owners can follow to ensure that their projects are effectively implemented.

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Claude Emond's curator insight, June 26, 5:07 AM

Some great tips here that make good sense

One Marketeer's curator insight, June 26, 9:48 AM

A project, I project, you project, we project... effectiveness that is the key #tips #business #projectmanaging #implementation

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10 Tips for Effective Business Writing

10 Tips for Effective Business Writing | Business Improvement | Scoop.it
Daniel Watson's insight:


Business communication takes many forms and all are important, but as the written word remains central to the majority of business management and business administration activities, it is critical for business owners to master the skill of effective business writing.


Unfortunately, effective business writing is not taught in far too many educational institutions, and as a consequence acquiring the necessary skills is usually a hit and miss affair for many business owners.


This excellent article, taps into the need of many business owners for a concise guide to effective business writing, and it provides 10 clear tips to follow to improve one's business writing skills.

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Michael John Freestone's curator insight, June 24, 1:26 AM

Improve your business writing abilities by taking one of our online business writing courses- with courses for as little as R195 per month (on subscription) or R335 (excl VAT) you have nothing to lose and everything to gain! Visit our website for more information: www.mjfgroup.biz/business-writing

Tom Cockburn's curator insight, June 24, 2:44 AM

Could be of use

Maribel Young's curator insight, July 6, 3:39 PM

In the spirit of simplification, tips 4  and 5, and 6 and 7 could be joined..

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35 Blogging Tips to Woo Readers and Win Business

35 Blogging Tips to Woo Readers and Win Business | Business Improvement | Scoop.it
Daniel Watson's insight:

Most businesses understand that creating and publishing their own content, is the path to cost effective customer acquisition, yet few create and maintain blogs for their businesses.


It is not that most have not tried, or at least given serious thought to starting their own blog, however the steep learning curve acts as an insurmountable obstacle for most.


This excellent article, talks up the great benefits of business blogging, and then proceeds to provide 35 invaluable tips to help anyone overcome  the perceived insurmountable obstacles to succeeding in this particular endeavour.

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Simon Steed's curator insight, June 22, 1:03 PM

Some very useful tips on why and what you should be blogging about - people are interested to hear what you say!

4twenty2's curator insight, June 23, 2:30 AM

Great blog about keeping your blog content fresh and interesting.  

Alain Theriault MBA's curator insight, June 23, 8:32 AM

never underestimate the power of good content marketing. For startups, it's often the best way to start building credibility. I like to refer to social media as a fishing net to bring hungry fishes to your feeding pond...your blog  ;-) 

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Do You Know the 4 Major Small Business Pitfalls?

Do You Know the 4 Major Small Business Pitfalls? | Business Improvement | Scoop.it
Daniel Watson's insight:


Awareness of what can go wrong, is somewhat lacking amongst many of the thousands of small business owners, whose dreams go up in smoke each year.


Whilst jumping in head first and learning the hard lessons as you go along has a certain ring to it and has served many well, it has cost countless more their livelihoods, and is not recommended for those who want more certainty in regards to the likelihood of their business venture succeeding.


This excellent article, suggests that being aware of and preparing to face the know pitfalls in any business start up is the key to survival, and it identifies the four most common pitfalls that business owners must overcome to be successful.


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17 Tips for Entrepreneurs

17 Tips for Entrepreneurs | Business Improvement | Scoop.it
Daniel Watson's insight:

    

Many small business owners don't see themselves as entrepreneurs, but If they are to grow and develop their businesses, they need to think and at times act as entrepreneurs.


When a small business owner opens themselves up to considering themselves as being entrepreneurial, they also open the doors to taking on advice aimed at entrepreneurs, advice they may previously have ignored.


This excellent article, written by an experienced successful entrepreneur, offers 17 tips any small business owner can take on board and apply to help their business to grow successfully.

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Arabian Gazette's curator insight, June 14, 11:58 PM

 17 tips for small business owners to help their business to grow successfully.

Alain Theriault MBA's curator insight, June 18, 12:42 PM

many good tips in there, but for me
# 3 as feedback, nothing more
# 12 for being productive instead of busy
#16 for the sense of purpose that will carry you through...

are the ones that usually require more  "work"

Michael John Freestone's curator insight, June 24, 1:55 AM

Take one of our online courses:

Entrepreneurship and Small Business Courses
  • Entrepreneurship 101
  • Basic Business Management – Boot Camp for Business Owners
  • Building a Consulting Business
  • Communications for Small Business Owners
  • Entrepreneurship
  • Kick starting Your Business with Crowd sourcing
  • Marketing for Small Businesses
  • Public Relations Boot Camp
  • Strategic Planning
  • Writing a Business Plan
Visit our website for a full list of courses available: 

www.mjfgroup.biz/e-learning/

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The Key to Business Growth

The Key to Business Growth | Business Improvement | Scoop.it
Daniel Watson's insight:


Growing any business is never an easy task, and business owners tend to chop and change, as they attempt to unlock the secret to growing their own businesses.


One consistent element, commonly shows up in cases where the key to the growth of any business is examined in detail, and that element relates to the way in which the business is marketed.


This excellent article, suggests that consistent marketing strategy and processes are the key to business growth, and it offers three tips to help business owners get consistency into their marketing efforts.

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Nine Forever Useful Leadership Traits

Nine Forever Useful Leadership Traits | Business Improvement | Scoop.it
Daniel Watson's insight:


Business owners who want to be better leaders to their business and its employees, need to understand the leadership traits of other successful leaders, and to apply these in their own environments where appropriate.


Business owners should be aware of their own leadership strengths and weaknesses, and where weaknesses are known to exist, take action to discover the key traits of successful leaders that could be applied to improve their own leadership.


This excellent article, identifies nine enduring leadership traits, and includes quotes from a business leader in respect of each trait.

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Jeremy Barton's curator insight, June 6, 2:12 AM

I particularly like the comments on Team Building 

donhornsby's curator insight, June 6, 7:16 AM

(From the article): Listening: “The turning point for me was a performance appraisal (in which my boss) told me that none of my colleagues trusted me because they all believed I had my own agenda… (He said) when you don’t invite your peers’ counsel in the plans, you display a lack of respect for them. (But) once I invited dialogue, I would lose my ability to control the situation, and everything would just take more time… (But I) started working on these things. And I was flabbergasted. I was astounded by the impact.”

 

Jennifer Radke's curator insight, June 9, 9:52 AM

I love this entire list, but believe that 7 and 3 need to work hand in hand.  Listen and then communicate. 

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3 Ways to Create Amazing Customer Experience

3 Ways to Create Amazing Customer Experience | Business Improvement | Scoop.it
Daniel Watson's insight:


The focus of most business owners, tends to be directed towards refining and improving the products or services they offer to their market,  but it can be argued that a better return can be obtained by focussing on the customer experience  side of the business transaction.


In the 21st century, it is the creation of a unique customer experience, that acts as the differentiator between highly successful businesses and the rest of the competition.


This excellent article,  suggests that moving beyond your product or service is the most certain way to create customer loyalty and grow your business, and it offers three ways a business owner can create amazing customer experiences.

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Five Tips for Building a Startup Sales Team

Five Tips for Building a Startup Sales Team | Business Improvement | Scoop.it
Daniel Watson's insight:


Small business