The Balanced Scorecard
Introduction The balance scorecard is used as a strategic planning and a management technique. This is widely used in many organizations, regardless of their scale, to align the organization’s performance to its vision and objectives. The scorecard is also used as a tool, which improves the communication and feedback process between the employees and management […]
The Rule of Seven
The rule of seven is one of the oldest concepts in marketing. Although it is old, it doesn’t mean that it is outdated. The rule of seven simply says that the prospective buyer should hear or see the marketing message at least seven times before they buy it from you. There may be many reasons […]
Understanding Business (Series) – made easy (101) How to Fund your business and to select your Funder?
The important question to ask is – what do you need the funding for? – before you start choosing the type of funding required or whom to approach for funding support. Reasons could be start up capital, expansion capital, temporary relief, asset or property purchases, working capital support and so on. Each type of funding […]
Understanding Business (Series) – made easy (101)Why is Cash Flow and Funding critical to business success?
Simply put cash is the life blood of any business. Every business either invests or spends money to make money, without it you cannot survive. With credit and loans and other forms of funding, businesses have access to cash in various forms, not just shareholder funds. Having access to cash is a good start but […]
Understanding Franchising (Series) – made easy (101) Aligned values and the ultimate symbiotic relationship for successful Franchises
Previously we talked about the roles and benefits for both Franchisor (Brand & Franchise system owner) and Franchisee (Entrepreneur and System user). The secret of success is to get both parties to clearly understand these and do what is expected of them, just as any team player would do. Equally, you are in a partnership […]
Understanding Franchising (Series) – made easy ( 101) Understanding the benefits and the roles of Franchisor and Franchisee
According to the Franchising Association of South Africa (FASA), 2019 annual franchise revenues were close to R750 billion and represented almost 14% of SA’s annual GDP. South Africa’s Franchise industry is ranked 5th (relative to GDP) in the world. The Franchise industry continues to grow in size and value to the economy, creating many small […]
Understanding Business Health (Series) – made easy (Key Performance Indicators 101)
How do I monitor my Business’ Health? (Daily, Weekly, Monthly and so on) Continuing with analogy themes, monitoring your business’ health is like giving yourself a daily check-up – How is your pulse rate, your temperature and other key symptoms – In business these are commonly referred to as Key Performance indicators (or KPI’s). As […]
Understanding Business Value (Series) – made easy (Valuations 101)
What is my Business Worth? As you are personally invested in your business, you will have your own belief as to your business’ potential and worth. This will be influenced by your reason/s to sell! However, ultimately value is truly determined on the ‘willing buyer, willing seller’ principle, where the parties will eventually agree on […]
Peer Advisory Board
What is a Peer Advisory Board? Peer advisory Boards are becoming very popular across the world as they allow leaders and business owners to benefit from the knowledge, expertise and experience of their peers from outside organisations. All parties are subject to confidentiality agreements and share information in an open and trustworthy environment. These Boards […]