Advice

August 2010

How do I commercialise a new product?

8:22AM | Monday, 30 August 2010 | By James Thomson The process of commercialising a new product or idea is a long and potentially difficult one. Entrepreneurs generally requite patience, support and money to see an idea through to market.

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.
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