SME's

Essential Business Advice

Advising SME's requires a keen awareness of the limitations in resources and the need to direct these effectively and efficiently. It is essential to determine the critical issues facing the business and manage the potential risks with appropriate strategies and often tough decisions. Current opportunities need to be nurtured and exploited whilst potential opportunities need to be identified and planned for in order to generate and secure long term performance and success. Jean believes that SME's need to be encouraged to be more proactive, efficient and focussed.

Below is her seven point critique for small businesses;

• Define the exact proposition of the company's product /service.
• Clearly identify the core target market and secondary targets.
• Fully evaluate understand the market and its trends, identifying potential opportunities.
• Define the competition and the company's point of difference.
• Develop a 3 year corporate strategy and corresponding plans.
• Determine investment and profit targets.
• Ensure the company has effective corporate governance.