The Growing Business Handbook: Inspiration and Advice from Successful Entrepreneurs and Fast Growing UK Companies, 12th Edition

Copyright
......Page 7
Table of 
Contents......Page 18
Foreword......Page 42
Part 1. Planning for growth......Page 44
The current economic climate......Page 46
Working capital......Page 49
1.2 Turning points in growth......Page 52
Understanding the fundamentals in changing circumstances......Page 53
Summary......Page 56
1.3 Growth strategy......Page 59
What next?......Page 61
Recognizing your risks......Page 64
Growth and risk......Page 66
Five maxims for success......Page 67
Good for business......Page 69
Leading sectors......Page 70
1.6 Take control of the future......Page 72
Buy and build......Page 75
Grooming the business for sale......Page 76
Conclusion......Page 77
Part 2. Ideas and innovation......Page 78
What is creativity and why should you work creatively?......Page 80
Mind Maps and creativity......Page 81
Memory and creativity......Page 82
Speed reading and creativity......Page 84
2.2 Innovation management......Page 88
2.3 A wealth in ideas......Page 93
Free IP rights......Page 94
What protection should be sought?......Page 95
IP rights are difficult to enforce......Page 96
‘We think’ vs ‘paid to think’......Page 98
Establishing new rules......Page 99
Commercial vs societal......Page 100
2.5 Knowledge transfer......Page 103
Part 3. Gaining market share......Page 108
Knowing your audience, and staying true to yourself......Page 110
The demands of marketing today......Page 112
3.2 A brand to last......Page 114
Second, know where you want to go......Page 115
Measuring all of this......Page 116
3.3 Pitching and presenting......Page 119
3. Sounding right: commitment, dynamism, credibility......Page 120
4. Looking the part: from head to toe......Page 121
5. Practising = succeeding: practise, practise, practise......Page 122
3.4 Business format franchising......Page 124
Easily learnt......Page 125
Franchising culture......Page 126
Presenting......Page 129
Present or what not to present......Page 130
A few common mistakes to avoid......Page 131
Networking......Page 132
Top tips......Page 133
More ideas for your direct mail objectives......Page 135
Doing your sums......Page 136
Calculating break-even......Page 137
Writing your letter creatively......Page 140
Writing brochures and leaflets......Page 143
Writing an effective response device......Page 145
Part 4. People and performance......Page 146
Implied terms: the duty to be adaptable......Page 148
Express terms......Page 149
A word of caution......Page 151
The three Ms......Page 152
Growing the tree......Page 153
4.3 Unlocking the talent of Generation Y......Page 157
Shattering myths – ‘I want it now’......Page 158
Shattering myths – ‘Shy of commitment?’......Page 159
Moving forward......Page 160
Why have a share-related plan?......Page 161
Corporate identity......Page 162
Approved plans......Page 163
Internationality......Page 164
Working with trustees......Page 167
DB: is your scheme underfunded?......Page 168
Looking ahead......Page 169
Part 5. Space for growth......Page 174
5.1 New premises......Page 176
How do I find out who owns particular premises or land?......Page 178
Breaking out of the encirclement......Page 180
Business and the environment......Page 181
An act of faith......Page 182
5.3 Easy in, easy out......Page 184
Part 6. Cash flow and working capital......Page 188
6.1 Funding options for growing enterprises......Page 190
6.2 Slow payments......Page 197
6.3 Asset-based lending......Page 201
What are the benefits of ABL?......Page 202
The new overdraft?......Page 205
Invoice finance – the hard facts......Page 206
Invoice finance: the pros......Page 207
Business costs......Page 208
Choosing an invoice finance provider – dos and don’ts......Page 209
Immediate benefits of the e-factoring revolution......Page 212
Revising the rule book on risk......Page 213
Conclusion......Page 215
The facility......Page 216
Who uses it?......Page 218
Part 7. Business technology and systems......Page 220
7.1 Technology risks......Page 222
Choosing the right supplier......Page 226
Options......Page 227
Summary......Page 228
Voice over Internet Protocol (VoIP)......Page 231
Contact centre solutions......Page 233
Networked solutions......Page 234
So, what is videoconferencing?......Page 237
Why is now the time to implement videoconferencing?......Page 238
Return on investment – the facts......Page 239
What solution is best for you?......Page 240
Part 8. SME productivity......Page 242
Where it all began?......Page 244
Globalization and the emerging markets......Page 245
Risks and challenges of globalization......Page 246
The future of globalization and procurement......Page 247
What is partnering and why does it deliver benefits?......Page 250
Company imperatives and carbon......Page 253
ICT......Page 254
Equipment and resources......Page 255
A holistic approach......Page 256
Fleet funding......Page 258
Whole-life costs......Page 259
The ‘grey’ fleet......Page 260
Safe fleet operations......Page 261
Outsourcing and fleet management......Page 262
8.5 Better-quality contracts......Page 264
How does accreditation work?......Page 265
Global marketplace......Page 267
Internal benefits......Page 268
Using accredited services......Page 269
Fulfilment......Page 272
E-tailers......Page 273
Internal or outsourced distribution team......Page 274
Making your supply chain work......Page 275
8.7 SMEs and business process outsourcing......Page 277
Part 9. Managing fast growth......Page 282
The importance of focus......Page 284
The importance of attractiveness......Page 285
The importance of viability......Page 286
Assessing business growth opportunities......Page 287
Successful projects do not ensure success......Page 291
Testing strategic assumptions......Page 292
The importance of the external perspective......Page 293
Risk escalation......Page 294
9.3 Professional quality......Page 297
Management of risk......Page 298
Change management......Page 299
In conclusion......Page 300
What is portfolio management?......Page 303
Implementation accelerators......Page 304
What does good look like?......Page 305
Making it happen......Page 306
Beating the odds......Page 307
9.5 Project risk management – positively useless?......Page 308
What can be done to make risk management work?......Page 309
Assumption analysis in practice......Page 310
1 Tailor the insurance to your trade or business type......Page 312
5 Go for the more detailed online quote forms......Page 313
Part 10. International expansion......Page 316
10.1 Managing the challenges of international growth......Page 318
10.2 The export challenge......Page 322
10.3 Faster payments......Page 326
Benefits......Page 327
India: key figures......Page 329
The three main choices of business entity for foreign investment in India......Page 330
Some tips on business interaction......Page 332
Part 11. Acquisitions......Page 334
1. Set the objective: ‘Why are we doing this?’......Page 336
2. Assemble the team......Page 337
3. Develop criteria for the target acquisition......Page 338
4. Apply criteria, find candidates......Page 340
5. Narrow the field; approach key prospects......Page 341
6. Letter of intent, due diligence, structure and close......Page 342
Types of acquisition......Page 344
Due diligence......Page 345
Completion......Page 346
Have creative ideas ready if necessary......Page 348
Have a ‘Plan B’......Page 349
If you are buying don’t overpay......Page 350
Part 12. Growth capital......Page 352
12.1 Financing growth......Page 354
What corrective action can be taken by a business leader facing any of these situations?......Page 355
Staging posts......Page 356
12.2 Financial challenges......Page 359
12.3 Tax-efficient fundraising......Page 364
Is it best to raise finance through debt or equity?......Page 365
How does a company make equity tax efficient for the investor?......Page 366
Concluding remarks......Page 367
Where do you go for reliable advice?......Page 368
What are the options if your company is found to beinsolvent?......Page 369
What are the options if your company is not insolvent?......Page 370
How can an asset-based lender assist in an insolvency scenario?......Page 371
Getting the basics right......Page 373
Striking the balance – timeliness vs quality......Page 374
Choosing the right finance team......Page 375
Conclusion......Page 376
Part 13. Exits and succession......Page 382
13.1 Developing an exit strategy......Page 384
13.2 Exit options......Page 387
13.3 Selling for maximum value......Page 392
Creating bidder competition......Page 393
Future potential......Page 394
Positioning......Page 395
Strategic/operational matters......Page 396
Other matters......Page 399
Conclusion......Page 400
Tax issues......Page 402
Stages in the legal process relating to a business sale......Page 403
Index of advertisers......Page 406