5 Tips for writing your next financial budget.
Have you started your budgeting process yet for the 21/22 financial year? Every business should have a financial plan for each year and now is the perfect time to start putting this in place. Here are five tips to putting together a successful budget. Work…
Exit Plan or Escape Plan?
When it comes to the way we react to certain situations, there are typically two main types of behaviour that we all fit in to. A) Move Towards; or, B) Move Away. Neither are problematic, and there will be times when we exhibit both types…
Seven Steps to Growth
If only 50% of new businesses survive more than five years and only one-third make it to 10 years, what’s the one thing you could do to ensure your company is sustainable? The answer is to create a growth strategy for your business. But a…
Planning for Success
In war, as in business, the victor is the one who uses superior strategy against their competition. There are three principles to military strategy you can apply to your life and work every single day. The first idea is called the Principle of Manoeuvre. You…
Fortune Favours the Brave
At Prime Strategies we love graphs. This one below encapsulates the behaviour of many SME’s (Small to Medium sized Enterprises) showing why they don’t go on to become the huge success that they originally intended to be. It demonstrates that when we are risk taking,…
5 Risks to face when you create a start up business
By Sreekanth Ravi for Entrepreneur. “Starting a business has never been more exciting. The startup economy is rich with opportunity, innovation and potential. But at the same time, it is also fraught with high-stakes risks. And while it may be scary to take that leap of faith,…
Is a Company the right business structure for you?
Choosing the correct business structure when you start out in business is very important for a number of reasons – not least that the wrong business structure may be costly to change later on. Often people assume that they need to form a company to…
Launching a new venture? Here’s how to beat the odds
By Clark Gilbert & Matthew Eyring for the Harvard Business Review “For nearly 20 years the case study used to introduce Harvard Business School’s Entrepreneurial Management course has been Howard Stevenson’s “R&R.” It looks at Bob Reiss, an entrepreneur who launches a venture in the board-game…
7 Steps for Business Growth – The Do’s and Don’ts!
Business growth is really exciting – you have a great product, you’re reaching the right people – but it’s crucial to have a sturdy business plan. Here’s a list of 7 things to check your performance against. Do: Research, Set goals, Get feedback, Target new…
Owning a business is not a job
I talk at length to my clients about how owning a business should not be thought of as having a job. It may feel like that at times, however a business should be an answer to what the owner wants from life – owning a…