How Winners Win

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Business Basics - Your People

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If you are a business owner, it is because you came up with a great idea, product or service which you wanted to share with others and make a living. Then, you already have a competitive edge that others might not have. However, the question is why your great idea, product or service is struggling even when you have done the best you could. My quick and frank answer is your best might not be good enough. Sometimes, we assume getting entirely involved in complexity of a business might be more appealing. That might bring you more customers and so on. In the end of the day, it is the simple foundations that make a business great. Such as your people, the ones you are dealing with on a daily basis and your wider stakeholders like your suppliers. Review your relationships and observe your communication channels. As a business owner or the boss, are your messages always clear or instead, you often confuse the audience? Do you give clear directions and do your employees...
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When the Wheels Fall Off

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Feeling frustrated, scared or stuck, you have already tried everything you possibly could, but your business still struggling! When the wheels fall off, we all feel of balance, out of control, anxious and uncomfortable. So, you are not alone. Statistic around the world, says about half of businesses fail within the first 18 months or they never see their fourth year coming. Then, if you are still in business, pause, take a deep breath and be proud of yourself. Some business owners say they would rather learn from their mistakes than never try. So, you shall consider a reboot when your business has gone haywire. Don’t be fixated on a problem, reflect on what’s happening and try to “turn your mess into your message” as Alvin Slaughter says. What matters is how we deal with failure. Do you stuck with it and try to blame everyone else than yourself and pin point how their actions resulted the failure? Or do you sink into your denial stage and your ego doesn’t let you express you...
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Is Your Gross Margin As Big As Your Smile?

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“A business doesn’t run on sales volume or sales $$, it runs on gross margin” In o rder  to survive, your business has to have sufficient gross profit. Simply, gross margin is the money the business retains  after incurring the direct costs associated with producing the goods and services sold   ( Cost of G oods S old ) . The bigger the left over, the more money your business will have to cover other fixed and operating costs  and most importantly to make a profit .  As you have realized, it is a pretty simple concept but business es  often ignore the importance of having healthy profit margin. Cost of G oods S old is the accumulation of all the variable and fixed costs directly related to your sales and excludes costs such as marketing expenses, rent, office expenses,…   Now , you might ask yourself: “Why should I care? Isn’t it all about sales revenue or profit?!” So , let’s explore the importance of knowing what your gross margin is....
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