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Business Management - Sales Business management needs to focus on sales and financial control.

Marketing and sales ranges from identifying target markets and customers to techniques for closing the sale. Key problems are little or no: Marketing or creating brand awareness Differentiation of marketing channels [web presence, email, brochure, radio, TV, newspaper, magazines] Consideration of sales channels [web, telephone, in-person, retail, licensing to third-party] Management measures associated with markets, target customers, contact management, sales, repeat sales Consideration of what demographic information should be captured to identify new customers or channels

Business Management Financial Control To make money requires good financial management and to ensure that the business considers the financial impact of decisions. Poor financial management is: Little or no financial forecasting and planning Lack of consideration of expenses in relation to income spending too much money Insufficient profit margin Little or no consideration of cashflow; when money actually comes in and when money actually goes out Growth is paid for with debt and servicing the debt becomes an excessive burden

Organisation - Policies Business must comply with all applicable laws including company, health and safety, employment, taxation and have appropriate company policies. Key problems are likely to be no policies and/or contracts for: Customers Suppliers Staff, contractors or temporary staff

Organisation - Staff If problems exist here then staff management is likely to be haphazard at best and abysmal at worst: Setting either unclear objectives or no objectives; what is expected and by when and inconsistent follow through Setting either unclear or no expectations about the quality of the deliverables and the level of detail required Changing the completion criteria before completion of tasks Micro management of tasks Lack of timely guidance and course correction for complex tasks Inconsistent behaviour, too friendly, too strict, too generous, too mean Perceived or real inequality in treatment of staff, with impulsive or reactive decision-making Unclear or no procedures in place to address recruitment, staff discipline or performance problems Staff specialist knowledge leaves business vulnerable to staff being unavailable [holiday, sick] or leaving and the business struggling to fill the gap

Other Reasons for Business Problems The reasons for business problems are not simply restricted to the above list of internal items but also extend to external factors such as: Natural disaster Significant economic downturn Bigger, better or faster competitors New business entrant changing the rules of the game Products or services becoming obsolete