Closing a Business

Closing a Business is not the end

I bet you read the topic of this blog and thought, boy, what a contradiction. You probably also thought: “Yeah right genius, it is the end. Closing a business IS the end”. Well, it is the end for that specific business, yes. But is it the end of your career as an entrepreneur? Sir Richard Branson certainly does not think so after 15 failures. Is it the end of your creative journey? No, you just need to come up with a different angle on your business idea. This time you have a chance to start over while knowing the pitfalls and dangers. Let’s be real for a second though, closing a business is not easy. In my job of saving companies, this is the exact opposite of what I am trying to achieve. Sometimes, things just don’t work out. Sometimes, you have to explain to your staff members that they do not have

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How do I turn my company from a loss to a profit?

How do I turn my Company from a loss to a profit?

The aim of running a business is to make a profit, otherwise it would be a charity. It happens at least once in every entrepreneur's lifetime that their business runs at a loss. This means that their business is not profitable and is obviously not a good situation to be in. It is now time for a Business Turnaround. The question begs "how do I turn this situation around?". Now every entrepreneur knows a specific field or industry very well and has specific skills. But not all entrepreneurs have the skills to turn a business around from a loss-making operation to a profitable entity. However, all entrepreneurs can implement an effective turnaround in a few simple steps: Step 1: Take a step back and shift your focus. As the owner of the business or the entrepreneur, it is your duty to ensure that the business as a whole is a success. It is your

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Profit Tips

4 profit tips to ensure growth

Profit Tip 1: Focus on your most profitable products or services

Focusing on your most profitable products or services is one of the easiest ways to generate more profit quickly. A lot of businesses focus on the products that are “nice” or “entertaining”, but not necessarily profitable. We all like the nice and entertaining goodies, but if they are not profitable then why are you pushing the sales on these? Focus more on the ones that generating you profit, money in the bank!

Profit Tip 2: Streamline your operations

Although cutting costs might be a logical step, be careful with which costs you cut. You cannot retrench staff to the point where customer service suffers. You cannot sell off assets to the point where staff do not have sufficient equipment to perform their duties. You need to streamline operations, thus you need to spend the least amount of costs on all purchases (yes cost

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