12 May 2014
On scaling your professional services or consulting business
Professional service firms focus on building strong business relationships and serving clients, not necessarily on the creation of new products or repeatable services that are easily scaled. The growth of a consultancy is typically linear, being tied to the number of consultants and hours that can be billed per project. In this article, we discuss some of the issues faced by professional service firms, as well as suggest 3 possible solutions for growth: 1-Maximise, 2-Multiply and 3-Metamorphosis....
Category : Blog
09 Apr 2014
Goldilocks pricing to eliminate discounts and maximise profits
Setting your prices to capture maximum value and avoid discounts is critical to business success. One approach is to use multi-level or tiered pricing; for example a typical multi-level pricing system has 3 levels (good, better, best) or (silver, gold, platinum). Also known as Goldilocks pricing, this approach works on the principle that customers tend to avoid extremes and go for the middle option. In this article, we explain how to design a multi-level pricing system using the latest research in behavioural psychology, to help maximise your profits and circumvent tough pricing negotiators....
Category : Blog
10 Mar 2014
Lessons from the Wolf of Wall Street
The recent Martin Scorsese film starring Leo Dicaprio tells the supposedly true and outrageous tale of the rise and fall of Jordan Belfort, the self proclaimed Wolf of Wall Street. The movie is a roller-coaster ride, following Jordan’s rise to multi-million dollar success selling penny stocks, and his inevitable fall into greed, corruption and fraud. Although certainly not a business documentary, the rapid rise of the wolf has some compelling insights for business. Take a look!...
Category : Blog
26 Feb 2014
Automate referrals for your B2B business
As we all intuitively know, word of mouth is the most effective form of marketing. Referral customers come at a much lower cost, and convert roughly 30% better than leads generated from other sources (Tony Nissen, R&G Technologies, 2013). The Wharton School of Business found that a referred customer has a 16% higher life-time value....
Category : Blog
11 Dec 2013
Scientific study reveals the 3 rules all exceptional companies follow
In their new book “The Three Rules”, Raynor & Ahmed answer the ultimate business question, “How do a few companies achieve exceptional performance over the long term?” In every industry, there is a stand-out company that delivers exceptional profits and performance. So what makes them different? Data has been analysed on more than 25,000 companies spanning 45 years to uncover what makes a company highly profitable. It has been found that exceptional companies follow 3 rules, “better before cheaper”, “revenue before cost”, and “there are no other rules”. Take a look....
Category : Blog
20 Nov 2013
Name selection and protection for businesses, brands, services and products
In the international online marketplace, selecting a business, brand, product or service name that is available and protectable, as well as memorable and easy to spell, is a difficult challenge. We outline here a successful strategy for doing so, as well as provide some essential online checks and tools that you will need to achieve this creative and logistical task....
Category : Blog