Business Health Check

Overcoming Small Business Hearing Loss

Does your small business have a hearing problem? Does it hear but not listen? ‘Active Listening’ is a technique that recognises that effective listening only happens when it is done intentionally.

  • Hearing is your ability to recognize sound.
  • Listening is the process by which you assign meaning to what you hear and observe.

The complication is that listening is a subjective process. Anyone that has been in a romantic relationship for more than a day knows that “I’m fine” doesn’t always mean “I’m fine”!

The following steps will help you start ‘Active Listening’.

Step 1: Give your undivided attention

  • Focus on the speaker.
  • Decide not to be […]

SWOT Analysis

What are the strengths and weaknesses of your small business? What should your business be taking advantage of and what should it be avoiding? If you can’t answer these questions then a SWOT Analysis is the place to start.

A SWOT analysis is a simple but effective tool that gives you a snapshot of how well your business is doing. It’s value is in prompting you to ask the right questions about your small business. However, as with all business models, it’s usefulness is limited by how honestly and objectively it is used. Ideally you would go through this process with […]

5 Competitive Pressures on your Small Business

Competitive forces have the power to break or make your small business almost overnight. Do you know what competitive forces your small business and it’s industry are under?

In 1979 Michael Porter identified 5 forces, or sources of pressure, that influence competition in an industry and which ‘determine the ultimate profit potential of an industry’. Not only was the model he proposed widely accepted but it is still at the centre of competitive strategy thirty years later.

Competitor Forces in Small Business

Potential Entrants

How attractive is your market or industry to potential entrants?

What […]

5 Questions to help you understand your Small Business

Small Business QuestionThe ancient greek maxim “Know thyself” is one that you should apply to your business. It is too easy to think that you understand your small business when really you have just become familiar with it.

It is for a good reason that while a child grows they question. To question is one of the most powerful tools you have and it is built into every one of us. When you stop questioning you stop growing.

The following 5 questions are an encouragement to start growing again.

 

Small Business QuestionWhat is […]

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