Almost any other organisation is a potential JV (joint venture) partner for your business. If they have the customers and you have the product, why not share the spoils fifty-fifty? After all, isn’t 50% of some extra revenue better than 100% of no extra revenue? (assuming you have good margins) Remember that joint ventures take time to establish, so make ...

Revenue growth may seem great on the surface, but if you’re running a business where the gross profit margin on that revenue is marginal, you’re just growing a small problem into a bigger problem. If it’s because you have large fixed costs, you should look at reducing those fixed costs before you grow revenue or you are not reducing your ...

The old elevator pitch is not what it used to be. The lifts move a lot faster these days, so you need to be far more succinct. And your pitch needs to be memorable. This is an area that is worth working on and perfecting, because in those first 15 seconds people form that famous ’first impression’ of you. First ...

“Would you like fries with that” may have become a colloquialism, but for a good reason. It should be every business owner’s catch-cry. Why? Because with that simple little question you may be able to double your margin! Try and stop right now and think of three ways you can cross–sell something in your business. Selling a product? Add a ...

Spend the time in the beginning when you’re just starting out to find out what it will take to make your business investor quality. Even speak to people who advise investors or invest themselves. Why? Because if an investor wouldn’t invest their money in your company, why should you invest your money and time? Also, unless you just want to ...

Trying to ‘sell’ something to anybody can be hard, but when you ask somebody what they need help with they will gladly tell you. And in doing so they will give you lots of hints to how you can ‘close’ a deal with them. So be quiet and listen. When you’re creating new relations or selling you should only talk ...

Yes, every year. Unless you’re in a marketplace where prices drop every year you must find a creative way to increase your prices. It’s by far the easiest way to become rich. You may have to repackage, restructure, unbundle services or use other tactics for this to fly, since a straight price increase may not go down so well in ...

Look at your profile on LinkedIn or Facebook. Is it really up–to–date? Does it reflect what other people would say about you? Is it written in the third person? While you may run a business where you feel the business is more than just you. However, as a business leader you will be under constant scrutiny and it’s important your ...

OK, so you don’t like to be on stage, you’re not alone; stage fright is common. Perhaps you can be part of a group discussion, volunteer for a panel, MC somebody else, or mentor students at the university. While these activities may not directly lead to sales they will give you a good standing in your community. For a lot ...

If you think you have it hard in your business, look at the typical intern, who gives 3–6 months of their working life to you—for free. The least you can do is take one on board and help provide the experience they need to get started on a great career. When you follow my ’7 secrets of effective hiring’ you ...