The thing about Entrepreneurs is that they are often the opposite of Accountants. I’ve never come across an Entrepreneur who said “I’ve got this great idea, but I need to optimise the working capital cycle before going ahead”. They just say “I’ve got a great idea” and then just go for it- leaving the accountants.. read more →
There comes a time in the life of many a small businesses when the owner wants out. There can be a variety of reasons; retirement, the call of a new opportunity or simply boredom. This is the point where the owner calls in his accountant and asks that dreaded question “How much is my business.. read more →
There is something has been bothering me for years now and, going by recent experience, it is still an issue. I’ve seen it on far too many occasions and I’ve seen how damaging it is to small-to-medium businesses across the country. It is crazy but it keeps happening over and over again. What I’m talking.. read more →
Like most people reading this, I’m a bit of a fan of Dragon’s Den. So I was pleased to see that last night (October 3rd) the BBC was running one of the spin-off programs – “How to Win in the Den”. This particular episode featured, amongst others, Ling of Ling Car Leasing fame. As I.. read more →
Right now I’m in the middle of reading a great book by a friend of mine; Robert Copping: The Heart of Business Success – How to overcome the Catch-22s of growing your business It is available from Amazon right here In the book Robert explains that there are three key Catch-22s that collectively conspire against.. read more →
‘Turnover is vanity, profit is sanity, but cash is reality’ I’m guessing that you’ve heard this phrase before – but what does it mean in the real world: Well, I’ve seen too many businesses spending their time chasing low-margin orders, giving larger discounts, extending terms – all in the misguided belief that such activities would.. read more →
It is very appropriate that the final of Michel Roux’s Service should be followed by National Apprentice Week. Although it is a bit of an overused phrased, we need to remember that the young people of today are the wealth creators of tomorrow. I am personally very passionate about apprenticeships and non-university education streams. I’ve.. read more →
Do you think you and your business would benefit if you spent a day with half-a-dozen millionaires sharing with you their secrets of success? I thought it sounded like a great idea so on Saturday I did just that. I spent the day in the company of around two hundred other entrepreneurs and business owners.. read more →
I’ve been thinking about the recruitment business and, to be honest, I think it is a very imperfect model. My thought process has been driven by a real concern about the ability of small businesses to access real talent. Small businesses are the lifeblood of our economy. 87% of the businesses in the UK employ.. read more →
So, why do businesses go bust because they have run out of cash even though they are making a profit? The answer is in the Working Capital Cycle. This concept describes the time taken between the business handing money over to the supplier and the business getting it back again from the customer. Let’s go.. read more →