Brexit survival guide for start-ups and small businesses

The continuing political turmoil and prolonged economic uncertainty around Brexit is already impacting UK businesses, making long-term planning more difficult. Small business growth is stalling amid fears that any "decisions made with confidence today could be ill-advised tomorrow." And, with not knowing what to expect, fewer than a quarter of the UK's small businesses have started adapting their business processes. In this Brexit survival guide, Henry Williams shares the key areas you need to c...
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10 reasons why your exit strategy is as important as your business plan

It's never too early to think about your exit strategy and the sooner you start planning the better. While it's not easy to think about your exit when you're just starting out, having an exit strategy worked out in advance helps you structure and develop the business to achieve the best exit for you and the company. And a solid exit strategy is something every investor will be looking for. "The earlier you establish your exit strategy, the clearer the vision for you and your company becomes," wr...
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Strategic planning: prepare, create, & deploy your strategy

Strategic planning is an essential process for determining where your company is going and the best way to get there, yet nine out of 10 organizations fail to execute their strategies. A strategic plan is a detailed roadmap the business will follow for the next few years. It includes an action with specific activities and due dates and sets out who is responsible for what. To help yours be among the "10% of businesses that actually make their strategic plan stick," strategy expert Ted Jackson sh...
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It’s time for small businesses to get serious about Brexit

The small businesses most likely to thrive post-Brexit are the ones that are already one step ahead of their competitors in planning how to minimize their exposure to risk and maximize their opportunities. As it currently stands the UK is due to leave the EU on 29 March 2019, with a transition period that's due to end on 31 December 2020. While the nature of the UK and EU's future relationship remains uncertain, "very few businesses are going to be immune from the fall-out," says Matthew Cu...
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How to plan an exit strategy that aims for profitability

It's never too early to start thinking about your startup's exit strategy. And while it may seem counterintuitive, the best time to plan your future exit is at the very start of a new venture. Planning your exit in advance allows you structure the business with the end goal in mind. In this article, Bill Clark discusses how proactive planning can help you "increase and optimize your exit options," the questions you need to ask yourself as you begin planning your exit, and the key things to consi...
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Why you should update your business plan regularly to drive growth

If you want your business to continue growing, you need to continuously plan for the future. Although many people write a business plan when they're launching a new business—and it's often a prerequisite when you're seeking funding— it shouldn't be a static document. Instead, it should be a dynamic template that creates a roadmap for the future growth of the business. Here, John Catibog shares the lessons he learned when his own business was failing to thrive and the steps you can take to a...
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Purpose, passion and profit: 3 ingredients for business success

While purpose, passion and profit are key ingredients, you need to follow the right steps when creating a recipe for business success. Your purpose is what motivates you to get out of bed every day, your passion brings your purpose to life, and profit is essential for a sustainable business. "To succeed in business you have to know where you're headed, so you can make a plan with the proper strategies and tactics to reach your goals," writes Kendra Sette. Here, she shares how to bring the e...
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Why you should have a flexible business strategy

A cash strapped start-up needs to use its limited resources efficiently and that means staying focused on delivering the outcomes you want. You may be so preoccupied with day-to-day issues you lose sight of your ultimate objectives. And any change in circumstances can easily throw the business off course unless you're able to adapt quickly. "It is essential to review and reflect on priorities at least every month and to have a flexible business strategy," says Matthew Cushen. Here, he shares how...
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The secret to nailing your next sales call

As an entrepreneur, you may have developed sales skills that help you convince investors, attract business partners, or hire talented employees. When it comes to selling your products or services to prospects however, your success depends less on having the best product and more on building the best relationships. A sales call doesn't start when you're sitting in front of a prospect, says sales expert Maura Schreier-Fleming. It starts with research and preparation, so you can start every sa...
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How the planning fallacy keeps you from feeling accomplished

Improving your productivity begins with planning and one of the simplest tools is the classic to-do list. To-do lists can help you define priorities and deadlines, keep you accountable and help you stay on track to get the most important tasks done. Yet they can also be frustrating and prevent you from feeling accomplished if you don't achieve everything on the list. If at the end of the day you have unfinished tasks, or some you haven't even started, you've most likely fallen into the trap of t...
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