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Business growth strategies that actually work

by Sarah Dunsby
12th Oct 18 7:47 am

At this point, Brexit is scaring businesses to death. Why? Probably because it has what it takes in order to change the rules that govern the way in which companies do business in the United Kingdom. So far, there haven’t been any real concerns. Nonetheless, enterprises are terrified. They fear that the departure from the European Union will have severe consequences. Organisations fail to understand that there’s nothing to worry about. Brexit will create immense opportunities for businesses, small ones in particular. Attention needs to be paid to a subject that is rarely thought of: change. The massive change that is just around the corner will make it easier for small businesses to thrive. Change has yet to come yet, fortunately, there are many things that companies can do to propel business growth. In what follows, we have some examples of strategies that actually work.

Keeping one’s eye on the cash flow

Cash later transforms into payment for expenses, such as employees, raw materials, and rent. What is more, it provides the enterprise the ease and freedom that it requires to invest in growth. There’s nothing more important for a cash business than to stay focused on the cash flow. Regrettably, business owners are preoccupied with other things. They don’t take notice of ongoing expenses or the overall cash flow. It’s necessary to keep a close eye on every element of working capital so as to maximise the cash flow. In this sense, several tools can be used. There are plenty tools, as well as applications, that enable executives to handle accounting and bookkeeping. It’s recommendable to develop a plan for cash flow management and, most importantly, stick to it.

Developing a website

About 2 million businesses in the United Kingdom don’t have a website. While it’s astonishing, there are numerous organisations that do business without a website. It’s impossible to understand why so many businesses, whether small or large have no online presence. Having an online business is one of the best things that can be done for consumers, as claimed by Lilo. They are able to come across product and service information without great effort. Companies without websites are missing out. It’s not necessary to spend huge budgets on website development. What it’s required to do is to focus on the main principles when developing the online platform and making sure that it will provide a return on the investment.

Making employees a priority

It’s largely agreed that employees are the most important assets of a business. They help the enterprise achieve its goals and ensure positive customer interactions. Retaining top talent is, therefore, paramount. The members of the team can leave at any time, exchanging one company for the other. Business leaders that desire to see their companies grow should make the employees a priority. Employees represent the force that drives growth. A business that isn’t capable of engaging its workforce won’t succeed. That is a sure fact. Instead of leaving the job up to the HR department, executives should take matters into their own hands. It’s important to come up with solutions that benefit everyone.  

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