Budgeting and forecasting are related, but they play different roles in business. In a nutshell, a budget is a step-by-step spending plan, while a forecast is an estimation of an outcome. Both have an important role to play in taking control of your business and preparing for the future, so let’s dive deeper into the key differences between the two tools. What is Budgeting? Budgeting is a detailed spending plan for the future. It’s used to provide financial direction while ma

We all know that marketing can be expensive, but it doesn't have to break the bank. In fact,there are plenty of great strategies available for small businesses on a budget. These are tried and true methods that will help you attract more customers or clients without spending too much money. Make the Most of Your Website The Internet is where your target audience spends most of its time, so you need to have an online presence. A website will provide potential clients with all

Many business owners fall prey to the same myths year after year. Let's take a look at five common myths that you should stop believing if you want your business to be successful. #1 - You Should Wait for the Right Time One of the hardest pills to swallow is that there's never going to be a "right time" to start a business - there will always be a reason not to. The sooner you start, the sooner you'll learn and make mistakes. There's no perfect time to do anything in life, s

Before you can sell anything, you need to know who you’re selling to. Identifying the right niche audience is crucial to laying a strong foundation for your small business. It’s what will allow you to create a helpful offer and deliver the right message to your audience in the right way. So how do you define your ideal customer? We’ve put together a list of seven key questions to help you get it right. #1 - Who Are My Current Customers? If you are working on growing or redefi

It pays to be prepared in business. No-one likes to think about disaster striking - especially when everything is going well - but complacency truly is the enemy of success. It’s best to be aware of emergencies that may threaten your business so that you can take steps to prepare for them ahead of time. Then you will know that if the worst does happen, you are ready to protect the organisation that you have worked so hard to build. #1 - Another Pandemic We’re not yet out of t