The board of directors has an essential role in company governance and setting the strategic direction of the business. The right board of directors brings your company specialist knowledge and expertise in key business areas, such as management, finance or technology.
Whether you need help developing your technology, want to improve your skills or are looking for new distribution channels, networking and forging the right alliances can give you the knowhow you need.
An effective sales strategy is an essential part of building a growing business. A well-thought out strategy lets you make the best use of your resources and ensure a co-ordinated approach across the business.
Your business plan outlines what your business does and what you are trying to achieve. It explains what the market opportunity is, what makes your business special and how you will make it a success.
Use this checklist to help to develop new products, from developing new ideas to setting budgets, deciding on product specification and prototyping.
Market research helps you understand your competitive position, spot opportunities, reduce risks and make better decisions.
Richard Reid is the CEO, head of clinical services and senior executive coach at Pinnacle Wellbeing Services, a “psychological specialist in personal and business transformation” and “leading provider of science-based consultancy, training, coaching and therapy.”
If you expect your business to grow quickly, it can be difficult to get suitable premises for your needs. Though you may not need much space now, the situation could be very different in 12 or 18 months’ time.
Building your business may represent a lifetime of hard work. To get the full rewards, you need the right exit - both financially and as a manager.
Business planning is particularly important for businesses targeting growth. You need to be able to respond quickly to developments in what are often young and fast-moving sectors.