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The Value Of An Ethical Business

The Value Of An Ethical Business
So, this is going to be a controversial posting. I wonder what you think about the morality of your behaviour when you choose to change professional advisors? I don't mean the professional ethical rules, but the morals of how you do it. And how should the professional advisor react? Here is a story of how a client of mine decided they wanted to change accountants. Read through the circumstances, and then tell me what you would have done. (more…)...
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Do You Want A Good Business Or A Great Business?

Do You Want A Good Business Or A Great Business?
I was talking to a client recently about preparing a long term plan for his business. He replied that while it was interesting he really didn't need all the stuff I do for others, like business planning, marketing, and systems. He said that he thought he was a good business man, in his words "not brilliant but I know my stuff", because he had learned how to run his business through experience. Now let me set the scene. Let's call him Danny. Danny is not an older business person dyed in the wool in the old ways. He's in his 40's and while he struggles a little bit with tech, he uses the internet a lot to research and find new suppliers and markets. He's not what I'd call conservative and he has run his business successfully for over 10 years. What do I mean by "successfully"? Well, it's a small business that supplies raw material to manufacturers. It's not a big market so Danny keeps his small customer list happy and has only lost customers when the customers have gone out of business or after being beaten on price, never through dissatisfaction. As a small business with a small customer list Danny doesn't care about...
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Build Value In Your Business…By Going Away For Three Months!

Build Value In Your Business…By Going Away For Three Months!
Has the title of this month's article got your attention? Who wouldn't like a 3 month sabbatical, put up your hands! Like many entrepreneurs and small business owners you are probably struggling with your work-life balance. You are working long hours, sometimes weekends, when you go on vacation you can't help feeling the guilt, your phone or tablet is always on and always calling for your attention even at all hours of the night. Yet the reason you started your own business, apart from the passionate belief in what you are doing is...getting time to do what you want. Just stop for 10 minutes (yes, you can!). Ask yourself why you aren't able to find that "life" part of the balance. Do these reasons sound familiar?
  • I need to really dedicate myself to this business to make enough money to take that time off;
  • I'm really busy because I can't afford someone else to do some of the work;
  • I have it all in my head so I can't leave;
  • I'm ultimately responsible for the business' success;
  • As I expand there's even more work to do;
    • ...
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How To Create A “Brand” For Your Small Business

How To Create A “Brand” For Your Small Business
"Your brand" is talked a lot about these days, but what is your "brand"? Your brand is not your logo. Coca-Cola is not about the logo or even the shape of the bottle. It includes all you feel when you think about Coke - fun, young, outdoors. Apple is not about the backlit macintosh apple with a bite out of it, it is all that it entails - design quality, Steve Jobs, the whole ecosphere of physical and software design surrounding tech. Everything about your business must align with the brand - the way you and your team behave, how you appear to customers, the business' values, the business' model, the messages it gives out and even the look and feel of marketing and ads. And yes, at the end, your logo needs to reflect and represent all that. (more…)...
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OTS Management