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7 Tips and Tricks to Growing Your Business

By |September 2nd, 2015|School of Business, School of Corporate Governance, School of Leadership, School of Local Goverment, School of Management, School of Project Managment, Schools, Soft Skills, Target Markets, Training|

Managing a business is like being a top-flight athlete – always looking for ways to become better and better. The consensus among respected writers in the field of business growth is that there are three main ways for a business to grow successfully: get more customers; sell existing customers more products or services; and increase back-end sales. Here’s an extension of those ideas… 1. Attract more customers. Your customers are those people who buy from you at least once. So one way to extend your business is to get more and more people to buy from you or use your services – at least once. Although there are many different approaches to attracting more customers, the one thing those approaches have in common is that they must either satisfy an existing demand for what you have to offer or create a new one. Supply and demand are key considerations when [...]

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How to Increase the Profitability of Your Business

By |July 24th, 2015|Leadership, Qualifications, Qualifications Advanced Diploma, Qualifications Certificate IV, Qualifications Diploma, School of Aboriginal, Torres Strait Islander Leadership, School of Business, School of Civil, Construction, Mining, School of Corporate Governance, School of Leadership, School of Management, School of Project Managment, Schools, Soft Skills, Training|

If businesses want to stay in business they must have a product or service that people want and are prepared to pay for. With those key criteria in place, the quest is to become increasingly responsive to the customers’ needs: there is a close link between responsiveness and profitability. Responsiveness is giving customers what they want (courteously, of course), when they want it (within an acceptable time frame), at a price that matches or exceeds their expectations. The six qualities identified as contributing to increasing an organization’s level of responsiveness, and, therefore, its profitability are as follows… 1. Make and implement decisions on a timely basis—calculate your Decision-Making Index. Improved decision-making enhances profitability, so it’s imperative for decisions to be made in an appropriate time. And you can calculate your Decision-Making Index, which will prove invaluable in improving turnaround time associated with decision-making. Calculating your Decision-Making Index is a relatively straightforward [...]

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