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Business Strategies
4 out of 5 businesses started today will not be around in 5
years’ time. Of those that survive, only 1 in 5 will survive the following 5
years.
You only have 3 ways to grow your business: (1) by increasing the
NUMBER of your clients; (2) by increasing the AMOUNT of units your clients buy
from you; 3) by increasing the FREQUENCY at which your customers buy from you.
Peter F. Drucker, renowned business guru, says a business is
designed to do one thing only: to create customers through (1) innovation; and
(2) marketing. Everything else will be an expense. He adds:
“Marketing is the distinguishing, unique function of the
business. A business is set part from all other human organisations by the fact
that it markets a product or service . . . Any organisation that fulfills itself
through marketing a product or a service is a business. Any organisation in
which marketing is either absent or incidental is not a business and should
never be managed as if it were one”.
This summary is designed to help you prepare and implement
financial strategies for attaining your business goals, in harmony with your
personal financial objectives.
Whatever your business goals – to start a new business, to grow
an existing one, to change the direction of a mature business, or to leave an
existing business for a new venture or to enjoy a secure retirement – we trust
you will find this overview helpful in developing the appropriate financial
strategies.
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