Learn Business Recovery Techniques.
This course explores how to review different aspects of a business and making decisions to improve performance.
Course Duration - 20 hours
Lesson 1: Recognising Problems - Where Things Go Wrong?
- How to Recognise Problems
- What Do Most People Do?
- Focus on the Issues
- Comparing Your Business to Your Competitors
- Maintaining a Balanced Perspective
- Recharge Your Batteries
- Always Run Your Business as if it is For Sale
- Checklist for Identifying the Problem
- Product Range
- Customer Service
- Know your Competition
- Checklist to Identify a Problem
Lesson 2: Changing with the Times
- How Do You Do This?
- 1) Understanding Control
- 3) Adapt to Technology
- 5) Predict the Future
- 6) Know when to Get Out
- 6) Keep Learning
- Some Golden Rules of Business
Lesson 3: Revise Financial Management
- Initial Start-up Finance
- Financial Difficulties in Business
- 1) Financial Service Providers
- 2) Spending
- 3) Payments
- How to Borrow Money and Get the Best Deal
- Business Costing
- Cash Flow
- Ensure as well as Insure
- Options for Improving Your Financial Position
- Up-scaling a Business
- The Cash Cycle – Cash Flow and Liquidity
- Managing Bad Debts
Lesson 4: Revise Your Marketing
- What Do We Mean By Marketing?
- Raising Awareness
- Convincing Them to Buy
- Closing a Sale
- Collecting Payment
- Do You Understand the Basic Principles of Marketing?
- Target Marketing
- Supply and Demand
- Know your Competition
- Opening and Closing a Sale
- Building a Client Base
- Visibility and Impact
- Social Media
- Aggressive Advertising
Re-focus Your Marketing
- The Law and Selling
- Marketing Strategies
Lesson 5: Revise Your Product
- Choosing a Product Range
- Why is the Product Not Selling?
- Analysing the Product
- Customer Feedback
- Deciding to Drop a Product
- Staff Awareness of Products
- Use Accounting Practices for Stock Tracking and Stock Control
- Product lines and mixes
- Product life cycle
Lesson 6: Revise and Engage Your Staff
- The Individual as Staff
- Employ Staff When Needed
- Employing Permanent Staff
- Employ the Workforce You Need, Not the Workforce You Want
- Legal Obligations and Moral Obligations When Employing Staff
- Who Do You Employ?
- Employing Friends and Family – For and Against
- Motivating Staff
- Giving Staff Responsibility
- Avoiding Stress in Your Staff and Yourself
Lesson 7: Using Business Systems to Improve a Business
- Sales funnels
- What is a Sales Funnel?
- The Process
- Ways to Create Sales Funnels
- What Does a Sales Funnel Look Like?
- Retail Sales and Sales Funnels
- Keeping the Momentum Up
- Setting sales targets
- Sales analysis
- why a Sales Analysis?
- Other business systems
- inventory Control
- Striking a Better Deal - Optimising the Supply Chain
- Budgeting and Budget Types
- How Do You Make a Properly Considered Decision?
- Solving Problems Systematically
- Business Problem Considerations
PICKING THE BEST OPTION CAN BE A CHALLENGE
There are always lots of different ways that you might react to a problem in a business. It is a difficult decision to work out which of many possible actions you should choose to take. The most logical decision should always be to make the decision that has the highest likelihood for achieving the best outcome.
There are never guarantees though; only risks to be identified, considered, and avoided.
Making a considered decision can in itself be time-consuming, and therefore costly. Therefore, the amount of time and effort devoted to making any particular decision should be relative to the significance of that decision. A decision that may have a huge amount of impact upon a business is worthy of being given more careful consideration, whereas decisions that are likely to be of only minor impact should not be given the same amount of consideration.
Bigger decisions might be approached in any of the following ways:
- Seek information, opinions and advice from others (e.g. staff, business partners, colleagues, family) who know and understand aspects of your business.
- Consult with experts outside of the business (e.g. if the problem is one of finance then consult a finance expert, if the issues are to do with marketing then consult a marketing expert).
- Work systematically through a step by step problem solving technique
Who is this course for?
- Business owners
- Business managers
- Anyone trying to determine and respond to problems facing any business