Growth & Development

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All Businesses Need To Grow... But How and When?

Growing and developing your business is a topic that crops up with all business owners at some time or another.

There are many questions to answer before you decide how, and when, you want to move your business forward.

Do you want to expand your product range or services? Do you want to develop new markets? Are you ready to increase your work force? Is it time to consider strategic partnerships or new investment?

These questions, and there resulting answers, can literally make or break your business so it’s not hard to understand the importance of these decisions.

There are many people you can turn to for advice and guidance on developing and growing your business, from accountants to business coaches, from lawyers to bank managers.

All of these experts are available to you within The BWT, together with many women who have been through the same experiences and can share their journeys with you.

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What is the difference between Mentor and Coach?

Firstly, it is important to understand the differences between Coaching & mentoring. Although many people do see them as one and the same there are some important differences to understand before considering employing one, or the other!

Briefly, the two main differences are:

Coaching is generally short term, project driven and Mentoring is usually a longer term relationship.

Coaching is more "task" driven, focussing on specific issues or problems whereas Mentoring is relationship oriented, giving way to a longer term, more personal arrangement.

The ultimate purpose of either coaching or mentoring is to enhance the knowledge, skills, and abilities of individuals within a business, or the business as a whole, to achieve the goals and objectives of that business.

Have a look around The BWT and chat to other members who have used either a Coach or a Mentor and see what fits best with you. You may even find a fellow BWT member near you who can offer you and your business Coaching or Mentoring.

THINK ABOUT...

*Learning *Mentoring *Business Coach *Personal Development *Business Skills
*Performance *Knowledge & Information *Goals & Objectives

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“He who fails to plan is planning to fail" … Winston Churchill

This is so very true in todays’ business world, you must plan your company’s development and growth as you would all other aspects of your business.

Think of it like this, according to statistics half of business start-ups survive more than five years and only one-third make it to 10 years, so what’s the one thing you could do to ensure your company is sustainable? The answer is to create a growth strategy for your business and plan for its long-term success.

For more information on strategy and planning, check out some of the articles on The BWT, look for an expert amongst the BWT Members or simply post a question in our “Ask The BWT” Forum.

THINK ABOUT...

*Growth Strategy *Value Proposition *Planning *Key Indicators *Long Term Success
*Competitor Analysis *Customer Retention *Research & Development

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Hiring your first employee is a huge step for any small business, especially your own!

It can be extremely daunting to go from just chugging along on your own to thinking about taking on some help, no matter how much, or how little, you require from your new employee.

Whether you are considering a third-party contractor to take some of your workload or are thinking of a full-time member of your team, there are so many things to think about.

What do I need them to do? How much will it cost me? Where will they work from? What are my legal and tax responsibilities? What if they don't work out? Can I take on an apprentice or school leaver?

Many questions like these will be going through your mind and it is very important to get things right when taking on staff and there are many people out there who can give you sound advice and guidance through the maze of being an employer and all of your responsibilities associated with building your massive corporation!

Here on The BWT you will find many articles about hiring and firing staff and how best to go about recruiting staff members.

THINK ABOUT...

*Employees *Hiring & Firing *Contract of Employment *Recruitment
*Tax & NIC *Interviews & Selection *Human Resources * Employment Law

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Do you need to finance your business?

Growing your business requires more than just planning, it usually requires money… capital, investment, whatever you want to call it we usually need to factor in extra funds to realise our plans for developing our business.

Of course, much like a business start-up, there are numerous ways in which you can finance your growth plans and different funding methods will suit an individual businesses’ needs.

Seed Finance, Angel Investment, Venture Capital, Private Equity, Bank Borrowing… all are terms you will come up against when preparing your growth plan and you will almost certainly need expert guidance to make sure you take the best funding route for your business.

Check out the articles and resources here on The BWT for information on many types of funding and investment and chat to other women who have been through this scenario.

THINK ABOUT...

*Re-finance *Dragons Den *Private Equity *Overdraft *Sleeping Partner
*Bank Loan *Capital Restructuring *Venture Capital *Factoring *Personal Loan

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Life is all a huge learning curve and no more so than in business.

We learn every day about all aspects of our business and we often seek out professionals to train us in areas of our business where we need help to grow and develop.

Training in business is essential; whether it be sitting down in front of a YouTube video about using Excel or whether it’s engaging a training company to hone the skills of our sales force, we often need experts to help us to develop our business skills and techniques.

Within The BWT you will find such experts in all fields of business along with some women who specialise in training individuals or groups on many varied business related topics.

The BWT is also busy putting together an exciting e-learning section where members can submit their own training videos and offer on-line courses directly to other members… watch this space!

THINK ABOUT...

*Training *e-Learning *Skills Courses *Workshops *Leadership Courses
*Team Building *Health & Safety *Seminars *Certification *Coaching

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