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• Cashflow
• Business

Strategy 6: Excess Stock 

How often do you review your stores and stock?

Are you holding too much including old, discontinued or slow selling items? 

Tips:  

• Take stock of all your reserves 

• To reduce or shift, consider offering discounts for bulk orders 

• Use online promotions such as auctions to clear stock 

• Monitor sales to track flow and movement 

• Undertake regular inventory stock-takes to keep on top of supplies & stores 

• Business
• People & Culture

Poor Leadership comes with a list of behaviours and characteristics, the complete opposite of effective, good leadership. 

You have probably encountered one of these ‘poor’ Leaders who failed to be Leaders! Lacking were words and actions to inspire or motivate us to give the best of ourselves and help achieve Business success. You will recognize the symptoms of low morale, stress and conflict, all tell-tale signs of poor leadership. 

Let's profile ‘poor’ leadership with 6 Strategies to avoid becoming that ‘bad’ Leader. 

1. Poor communicator: Poor Leaders often feel the need to dominate and control the conversation and do so by interrupting others. They are the loudest voice and usually bad listeners. This behaviour can have a devastating effect on staff, who will withdraw, feel undervalued and lose respect. 

Strategy 1: Communication is a two-way street. Become a better communicator, a conversationalist by letting others have a say and listen attentively while they do so. Be an active listener, avoid interrupting and high jacking the conversation with your point of view. Share the ‘floor’ to get input from all involved. 

2. Micromanaging: The poor Leader feels the need to closely manage every detail, to control and often lacks the trust to delegate. This over-bearing scrutiny dampens and hampers staff spirit, sabotages self-belief and destroys Team morale. 

Strategy 2: Look for the signs. Self-awareness is crucial. How do your staff react to this close monitoring. Do they welcome and embrace your suggestions, interventions or do they shy away, become disengaged. Importantly, build bridges by asking if or how you can support them and leave them to do their job. 

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• Business

Failing to let go of the reins in a family business can be fraught with problems and often harmful consequences to the Business and all concerned.  

Not letting go leads to the Business crumbling. Crumbling under the strain of family conflict, a lack of next-generation interest or no ‘suitable’ one to pass the reins to.  

With the founder still holding tightly onto control, new ways and progress can be hampered or ignored. All these issues have the potential for Business dissolution. 

Additionally, by not letting go of the reins, the founder may find both their personal identity and future retirement plans can be jeopardised, along with all that they have worked hard to establish. There are no winners in these scenarios! 

Consequences for the Business and Family Members 

Family Conflict: Holding onto power creates tension and disharmony so severe that the Business is disrupted to the point of dissolution.    

Strained Relationships: As siblings compete against each other, and with no handover or transition planning, the family and Business unit are thrust into disarray. Resentment impacts familial bonds and Business unity. 

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• Business
• Marketing & Sales

Small, medium or big Business, the importance of understanding your Market can't be stressed enough!  

It’s crucial to Business success, whatever your Industry. 

It allows you to tailor your services, products and marketing initiatives, to effectively target and reach your ideal customers, leading to increased sales. Increased sales equal greater profitability and growth!  

Why understanding is so important: 

Understanding your competitors, customers, clients and the overall market landscape provides insight that can help you make more informed decisions, saving you time, energy and money.  

Start by taking the following Steps  

Step 1: Identifying and targeting your ideal Customers 

• Customer Profiling. Through market research you can get customer profiles, such as demographics, motivations, and buying habits.  

• Market segmentation furthers this search into geographical, psychographics and media sources. By defining these characteristics your business is already gaining an edge by screening current and potential customers. 

• Market Strategies. With the above intensive research, you can develop your sales strategy, designed to reach and satisfy your target audiences' wants, needs and expectations. 

Step 2: Staying ahead of your Competitors 

• Competitor analysis. It’s crucial to conduct market research to find who and what are in the marketplace. Knowing your competition, clients, and prices allows you to plan accordingly.  Do the research and see how you stack up!!  

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