If you need to inject some creative thinking into your business, either to drive renewed growth or to revise your business plan or strategy, there are lots of techniques and activities that can get the creative juices flowing.
In fact, Forbes magazine states that creative thinking is ‘the only business strategy you need’. So here are some ideas that you can use to boost your business creativity.
Directors who are considering signing personal guarantees for lenders should make sure they fully understand the implications before doing so.
While a personal guarantee can be a good way to release credit lines that would not have been accessible otherwise, if things go wrong, it can have a considerable negative impact. Company directors need to do their homework and perhaps even take legal advice from an expert such as https://www.parachutelaw.co.uk/director-guarantee to make sure it’s the right choice and doesn’t have unintended consequences. Here are some implications you should bear in mind before signing a director guarantee.
Outsourcing specialised packing services to an expert third party is known as contract filling.
Businesses usually use contract fillers for custom packing orders, which involve measuring, dispensing products into containers, and ensuring quality. These services involve a wide range of tasks, such as packing dry products, and liquid filling, as well as specialised services like shrink wrapping, bagging, bottling, and printing on bags and containers.
Coin dealers are businesses that specialise in selling, buying, and trading coins. This niche market called the ‘Numismatic’ industry is the study of coins and collection of them based on factors such as date, countries, and special editions. If you own any coins that you think may be of any value or want them dated, then why not bring them to a coin dealer?
Cash flow management is crucial as it gives a business the power to stay on top of its debt payments and investments, as well as the ability to grab new opportunities when they appear. Additionally, an enterprise with a healthy cash flow will be better placed to take advantage of discounts on raw materials and to reduce the cost of their overhead.
When you first start up a business, it is likely to be just you that is doing everything yourself – budgets don’t stretch much further, and your main goal is to keep your business going from month to month – surviving that first year or two is the main focus for most small businesses.