Advice

August 2010

Who can help me innovate within my business?

8:48AM | Monday, 30 August 2010 | By James Thomson When you are trying to generate ideas, it is well worth bringing as many people into the process as possible.

How can I fund further research and development?

8:47AM | Monday, 30 August 2010 | By James Thomson Innovation does require capital, and it needs to be patient capital at that – the pay-off for R&D can be a long time coming.

How do I broaden my product range?

8:44AM | Monday, 30 August 2010 | By James Thomson There are two main ways to increase sales – sell more stuff or sell different stuff. Broadening your product range is one of the effective ways to grow your business and it doesn’t need to be a difficult process.

How do I generate new ideas within my business?

8:42AM | Monday, 30 August 2010 | By James Thomson Entrepreneurs usually have no trouble generating ideas – they are usually always thinking of ways to grow and change their business and start new businesses too.

What information will I need to prepare prior to selling my business?

8:38AM | Monday, 30 August 2010 | By James Thomson Entrepreneurs looking to sell up need to make it as simple as possible for potential buyers to examine their company and assess its value.

How do I work out the right asking price for my business?

8:34AM | Monday, 30 August 2010 | By James Thomson There is an easy answer to the question of how much a business is worth – as much as someone is prepared to pay.

Where can I sell my business?

8:33AM | Monday, 30 August 2010 | By James Thomson There are two main approaches an entrepreneur can take when it comes time to sell their business – go it alone, or get help.

When should I sell my business?

8:30AM | Monday, 30 August 2010 | By James Thomson The reasons entrepreneurs sell their companies are many and varied, and of course depend a lot on the personal circumstances of the owner.

Why do I need to think of an exit strategy?

8:25AM | Monday, 30 August 2010 | By James Thomson When you are working hard to get your new start-up off the ground, the last thing you are going to be thinking about is how you might exit your business.

How do I defend or make a legal claim?

8:21AM | Monday, 30 August 2010 | By Patrick Stafford If you receive a claim of legal action against your business, you need to make sure everything is in writing. Don’t discuss anything about the claim with the person who issued it over the phone – refer everything to writing.
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