The Growing Business Handbook: Inspiration & Advice from Successful Entrepeneurs & Fast Growing UK Companies (Growing Business Handbook)

Growing a business in the current economic climate is a tough challenge, whether in the US or the UK. It demands courage and vision, and insight into what is actually needed. The Growing Business Handbook is a practical source of advice and reference for companies with dynamic growth potential. Aimed at senior managers in growing companies, the 2005 edition highlights the latest ideas, techniques and solutions for maximizing growth and controlling risks. Combining the knowledge and expertise of leading professional advisors with the experience of entrepreneurs, the book includes sections on marketing, funding, people, business technology, innovation, global expansion, acquisitions and risk control. © copyright......Page 5 Contents......Page 6 Foreword......Page 21 PART 1 Growth challenges......Page 26 Where are you?......Page 28 How do you get there?......Page 29 1.2 Lessons of fast growth......Page 32 Swallowed pride......Page 33 Market entries......Page 34 Growing instability......Page 35 1.3 Entrepreneurial skills and behaviours......Page 36 Reflections......Page 40 Risks and challenges......Page 43 1.5 Resilience for the growing business......Page 45 PART 2 Exploiting ideas......Page 50 2.1 The innovative enterprise......Page 52 2.2 Innovation for SMEs......Page 56 Know your market......Page 58 Think about where your business is going......Page 59 2.3 A wealth in ideas......Page 60 Irrelevant for SMEs?......Page 62 Are IP rights difficult to enforce?......Page 64 2.4 Building and managing an IP portfolio......Page 66 Wooing inventors......Page 68 PART 3 Customer service......Page 72 Satisfaction? Is that the best you can do?......Page 74 Focus measurement on customer priorities......Page 75 Let the team lead......Page 76 Continuous improvement......Page 77 3.2 The top 20 questions about customer service......Page 79 3.3 Creating customer focus......Page 86 The cat ’s whiskers......Page 88 The CRM bandwagon......Page 89 PART 4 Gaining market share......Page 94 Trust......Page 96 Corporate pride......Page 97 Preparing your new business growth plan......Page 98 4.2 Network marketing......Page 100 Getting to market......Page 101 Working together......Page 102 The networking network......Page 103 4.3 Online ads bring quick results......Page 106 Ten to 20 per cent of media spend:a good start......Page 108 Web advertising......Page 110 Takeaways......Page 111 4.4 Search engine marketing......Page 113 Search marketing options......Page 114 Offline marketing vs search marketing......Page 116 Key success factors......Page 118 Types of events......Page 122 Budget......Page 123 Checklist......Page 124 Measuring success......Page 125 Planning for your conference......Page 126 4.7 Licensing......Page 132 Particular rights that might be licensed......Page 133 What you should be looking for in a licence......Page 135 Summary – don’t miss out on a potential bonus......Page 136 4.8 The value of franchising......Page 137 4.9 High-level telemarketing......Page 140 What ’s the alternative?......Page 141 What next?......Page 143 PART 5 People and performance......Page 146 High performance rules......Page 148 Apply the four rules for success......Page 151 5.2 Just-in-time talent......Page 152 The benefits of using freelancers......Page 154 Raising the quality bar......Page 155 Freelancers making their mark......Page 156 5.3 The frontiers of management......Page 158 Lessons to be learnt......Page 160 Summary......Page 163 5.4 Tomorrow ’s leaders......Page 164 5.5 Executive search for smaller businesses......Page 169 5.6 Work –life balance in smaller companies......Page 172 5.7 Keeping on the right side of the law......Page 176 PART 6 Cash .ow and working capital......Page 180 6.1 Improving cash flow......Page 182 What are the demands on cash?......Page 183 How to finance working capital......Page 185 Which is the best lever to pull?......Page 187 Anatomy of a small business......Page 194 Risky business......Page 195 Getting the full picture......Page 196 Making the right choices......Page 197 How much liquidity is needed......Page 198 Short-term liquidity management......Page 199 Cash pooling......Page 201 Managing international liquidity......Page 202 6.5 Slow payments......Page 206 What are the benefits for me?......Page 209 What services are available?......Page 211 How do new users register?......Page 212 PART 7 Property and locations......Page 218 Why is commercial property important?......Page 220 How has commercial property performed?......Page 221 What is the outlook for commercial property?......Page 222 Where are the hotspots?......Page 223 The start-up phase......Page 228 The growth cycle......Page 229 Financial impact......Page 230 7.3 Business locations......Page 233 PART 8 Corporate finance......Page 238 The knock-on effects of IFRS......Page 240 The routes available to growing businesses......Page 241 Starting down the road......Page 242 8.2 Acquiring a business......Page 244 Vision......Page 245 Structure......Page 246 Organic growth......Page 247 Commercial planning points......Page 248 Conclusion......Page 250 PART 9 Managing growth......Page 252 9.1 Entrepreneurial management for the ambitious business......Page 254 Functional performance domains......Page 256 Potential......Page 257 Summary......Page 259 Managing the consequences of success......Page 262 Some background to validate the ideas......Page 263 What does an improvement programme look like?......Page 265 Learning how to understand and improve the system......Page 266 What is a strategic plan?......Page 268 A thinking tool......Page 270 The strategic planning process......Page 272 Summary......Page 273 9.4 Directors ’ and officers’ liability......Page 274 Relationships and trust......Page 278 How to put in a code......Page 280 The business case......Page 281 In conclusion......Page 282 9.6 Interim management......Page 283 PART 10 International growth......Page 286 Small acorns......Page 288 Code contradiction......Page 289 Bringing the cash home......Page 290 Conclusion......Page 291 Real time......Page 292 Trade cycle......Page 293 Single European payments......Page 294 10.3 Using trade statistics......Page 296 Drill down and gather......Page 297 You’d be nuts not to use it......Page 300 PART 11 Enterprise systems......Page 302 Why settle?......Page 304 New model......Page 305 Why compromise?......Page 306 11.2 Enterprise reporting......Page 308 11.3 Using technology effectively to support a growing business......Page 312 11.4 Offshore outsourcing......Page 320 The need for offshore outsourcing......Page 322 Where can we offshore?......Page 323 Engagement models......Page 324 Conclusion......Page 325 Why worry about software licences?......Page 328 Software compliance process......Page 329 Index of advertisers......Page 332 Further reading from Kogan Page......Page 334 Growing Business Handbook is the reference source of choice to help you ensure and manage business growth. Now in its 10th edition, this book looks at all the areas ripe for exploitation by your growing business and discusses ways you can manage the associated risks.