When the going gets tough, your role as a leader becomes even more important to the future survival, recovery and success of the business. As we’ve seen during the recent coronavirus pandemic, the 2008 economic crash and many previous downturns, having a strong leader at the helm serve to give your people and strategy some real purpose – allowing you to make the right decisions, weather the storm and guide the business along the correct course. So, what does good leadership in a crisis look like? And what steps can you take to become the role model, strategic thinker and leader that your people deserve? Leadership that keeps everyone on board To begin with, it helps to understand what kind o

Setting sales targets for your business is standard practice for any aspirational, growing company. If you’re going to stretch the sales and marketing teams, it’s important to have clear, unambiguous targets for them to aim for. But what happens when a crisis looms? In uncertain times it’s more than likely that your pre-crisis sales targets will effectively become unrealistic and impractical for your teams to use. So, how do you set sales targets during a crisis? And how can you ensure these targets are meaningful, accurate and workable for your business goals? Understanding Your Strategy And Sales Numbers Knowledge is power, especially when it comes to defining your business strategy during

With more than 85% of SMEs expecting a lower profit in the next nine months, the more prepared you can be for the unexpected, the better. Managing expenses is a good idea at any stage in your business and you may need to consider increasing your prices. Smart Ways To Get Your Costs Under Control Cashflow has been a big issue for thousands of businesses this year, and when the money’s not rolling in, it can help to rethink your costs. To do it effectively involves more than just keeping an eye on outgoings. It’s about looking at all the moving parts of your business to see if your systems (or lack of) are costing you unnecessarily. Here’s how: Muck in - Do a cost control audit to work out whe

1. What is an invoice? An invoice is a request for payment. It lists the goods or services you’ve supplied, and shows what your customer owes in return. Your invoices are also tax documents. You’re required to keep copies to show what revenue you earned and any sales tax you may have collected for the government. 2. What are the different types of invoice? Invoices come in many varieties, each with their own name. Here are some of the more common. Sales invoice If you send an invoice, then it’s a sales invoice (if you receive it, it’s a purchase invoice). Past due invoice When an invoice hasn’t been paid, some businesses will resend it with an overdue stamp on it. Interim invoice If you requ

Applying for a business loan can be an ordeal, but it doesn't have to be that way. Here are some tips for simplifying the process – and improving your chances of success. Getting Business Loans Can Be A Chore Need some extra cash to take your business to the next level, but daunted by the loan process? You're not alone. There's a lot of paperwork and number-crunching involved. And after all that effort, you may have to sweat on the bank's decision for ages. Fortunately, the business loan process is getting better. Progressive lenders, and online accounting, are breaking down a lot of the traditional barriers. Don’t Forget The Bank Wants To Approve You Before you get started, remind yourself