Cash Flow vs Profit: What’s the Difference and Which is More Important? It’s the age-old debate: cash flow or profit? Whilst the two are undoubtedly related, they are certainly not the same thing and business owners must often sacrifice one at the expense of the other. In the long term, a business needs both positive […]
Category Archives: Business tips
How to Spend a Marketing Budget Wisely in 202
How to spend a market budget wisely in 2021 Marketing budgets are on the rise, and for good reason. Research by the CMO Council found that 65% of marketers plan to increase their budgets in 2021, but how do you know which channels or tactics will work best for your business? To help answer that […]
Why you should stop competing on price – and how to do it
Why you should stop competing on price – and how to do it Many fitness businesses compete on price simply because they haven’t contemplated taking another route. The problem is that simply slashing your prices and trying to undercut your competitors can set you on the path towards financial failure. Competing on price often leaves […]
The Five Business Technologies You’ll Want to Adopt
Four Business Technologies you will want to adopt Making sure your company keeps up with the best practices will guarantee future progress and keep your business competitive. Many technologies once considered breakthroughs have become commonplace in today’s business world. That’s why companies that miss out on these improvements risk losing their market to more agile […]
Four tips for improving decision-making process
Four tips for improving decision-making process Making the best choice can often prove challenging. Luckily, there are ways to make your decision-making skills better. People who can make the right decision at a moment’s notice are always well-respected among their peers. It might seem like this ability comes naturally. But in reality, it’s a skill […]
How to use technology to boost member satisfaction
How to use technology to boost member satisfaction There have never been more tools available for improving customer satisfaction. Use them to create lasting relationships with your customers and build loyalty. Customer satisfaction is one of the most crucial aspects of any business. After all, a business that doesn’t have happy customers is probably doing […]
How can gyms make a profit, besides membership?
How can gyms make a profit, besides membership? https://southbourneaccountancy.co.uk/wp-content/uploads/2021/05/Revenue-Streams.mp4 Over the past year gyms and fitness centres have been looking at different ways to add profit to their business, with covid meaning bricks and mortar businesses have been closed, many have “pivoted” to online. An online and offline gym offering are not the only […]
The best strategies for leading by example
The best strategies for leading by example Taking responsibility, listening to your team, and knowing the ins and outs of your business can provide great benefits. Here’s how you can become a successful, ethical leader. The best and most effective way to approach a leadership role is to understand it as setting a positive example […]
The Five Questions to Ask Every Potential Employee
The five questions to ask every potential employee Asking the correct questions will speed up the interview process. But you can avoid the cliché questions and still get the information you need from candidates. The interview is a vital part of the hiring process. And the conversational tone and personal discussion between an employer and […]
The accounting trends you need to know about in 2021
The accounting trends you need to know about in 2021 As a business owner, it’s important to stay on top of accounting trends and make them work for your organisation. If you don’t stay up-to-date you might just find yourself left in the dust whilst your competitors improve their efficiency with the latest and greatest […]