Take Time To Find The Right Pricing System For You And Your Business

In his brilliant book, Priceless – The Hidden Psychology of Value, William Poundstone has done a fabulous job of pulling together some of the best science about pricing. Pricing can be a difficult subject to tackle and even more difficult to get right, both for a multi-million euro company or the local hairdresser. Buyers… Buyers are now more savvy. They have more options and they can very easily compare your price to the competition. Therefore their expectations are much higher. But if you get your pricing right then you can tap into the higher profits your […]

Are You Taking Needless Risks In Your Business?

You wouldn’t dream of climbing on board an aircraft if you knew the pilot was going to ignore the pre-flight checklist because they’d ‘done it before’. Would you allow a surgeon to operate on you or one of your children if they didn’t follow the recommended World Health Organisation (WHO) surgical checklist that has saved many lives in many countries? So why do businesses allow certain mission critical jobs in their firm to happen without the pedantic, disciplined, committed approach to checklists that airline pilots and surgeons have? Pilots and surgeons are some of the brightest and […]

5 Simple Ways To Reduce Your Tax Bill

  This is a very popular post that we first published in 2010. It’s been reviewed and refreshed for up-to-date accuracy. 1. Question Every Expense Whether you’re trading as a sole trader or a limited company, an easy way to reduce your tax bill is to ensure that all of your business expenses are recorded in your accounts. So every time you put your hand in your pocket to pay for something or reach for the credit card, think: is this a business expense? The general rule is that if the expense is wholly and exclusively […]

Can A 1% Price Increase Really Deliver An 11% Profit Increase?

It’s proven that the fastest and most effective way for any business to realise its maximum profit is to get its pricing right. The right pricing structure can boost profit faster than reducing costs or increasing your sales volume. On the flip side the wrong pricing structure can shrink your profits just as quickly. And yet many business owners are still reluctant to investigate initiatives to improve price for fear that they will alienate, frighten or lose customers. The result of not managing price performance, however, is far more damaging. Getting your pricing right is one […]

Are Your Staff Helping Your Business To Grow?

It pays to take your annual staff appraisal or performance review process seriously. Probably more seriously than you do now. Your business approach to appraisals can unlock greater success in your business because it can unlock greater performance from your people. However, most appraisals don’t result in higher levels of energy and motivation. This is a problem because a motivated team of people, an improving team of people, a more energised team of people can transform the results of your business. But a demotivated, ‘can’t-be-bothered’ team will undermine the future success of your business. As a […]

What Does Brexit Mean For Your Business?

In the wake of the UK’s EU referendum results there is a large degree of worry and uncertainty about Brexit. If you have trading links with the UK you may be wondering how you will be affected. Further complicating matters is that although the UK have not given their 2-year notice at the time of writing – and so nothing has actually changed yet – worry has spread through investors and created volatility in the various markets. The important thing is to put aside any political views that you have. Rather, view this as simply another […]