Serving your Target Market I may have mentioned before that it is common with SME’s to avoid defining a target market due to a misguided belief that it will reduce the number of potential customers rather than simply making it easier to find them. You will not be surprised then, when I tell you that it is rarer still for most to spend time and effort working out what it is they actually do for Read more…
Target Markets This is an area of marketing that a lot of SME’s struggle to adapt in a meaningful and helpful way. Most have heard the term and they understand the concept, why it’s important and yet they don’t implement it, at least not in a way that actually helps them get more of the right kind of customers. A lot of SME leaders I speak with tell me they understand the concept and yet Read more…
Paradise by a Dashboard I often find myself explaining the difference between Key Performance Indicators, Goals and Targets. Because the fact is when a metric becomes a target it is no longer a good measure. KPI’s should help to keep you informed of the level of activity that is going on towards the attainment or your goals and targets, they should be there to gauge progression towards your desired outcome and in turn help you Read more…
Its your Money It’s your business, which means its your money so you should understand how the finances or the flow of money works, how that is reported and what you will pay tax on, at least that would be a good idea. Most business owners don’t pay as much attention as they should to this, they usually leave this to the accountant, who gives them a set of accounts once a year that they Read more…
Managing by the Numbers I know I go on about why numbers are important, in a previous article I talked about why the numbers are important in sales and marketing, and at some point I will cover the accounting requirements Not Today though, today we will talk about operations., the delivery of what you do, the numbers that tell you how efficient you are, the numbers that tell you how to become more profitable. You Read more…
It’s in the numbers You may think it’s about creativity and award wining adverts, maybe you think it’s about brand awareness and social media, but ultimately its about the numbers. A good Marketing agency will tell you the same thing, one just after your money will tell you something else. The reason this is true is that no one, not even the great marketing agencies can tell what will work and what won’t without running Read more…
Let’s talk about you and me That got your attention didn’t it, If I had said let’s talk about numbers then 68% of you would have skipped to the next post, and that’s a pretty accurate number because, with enough data everything is pretty predictable so yes 68% of business owners mostly ignore the numbers. What’s more the 28% that do look at them are generally looking at the wrong ones. Numbers are half of Read more…
If not now then when This is the question I find myself asking clients a lot, having a Strategic plan with agreed tactics and defined actions with a diary of when things should happen is a critical element in achieving the results you want, but it is pointless if the actions don’t happen and trust me if you don’t have a way to keep your self accountable the actions will often not happen. In fact, Read more…
Actions & Tactics This is something that I feel is not covered enough, tactics are supposed to be the actions you take to achieve your objectives, so taking action or being busy is often confused with doing what needs to be done (tactics) it often seems like they are the same thing, the problem arises when the actual actions you take are not the ones you planned to take. Look at it this way, have Read more…
The Advice is Out There This is a great book by Keith Cunningham on how to make better decisions and minimise risk in business, I suggest every business owner should read it, and yet here’s the thing, most of you won’t. Let’s talk about that for a moment shall we, we have all done dumb shit, I know it, you know it and so does everyone who knows you, and still I am prepared to Read more…