Hi there, we know it is a new week but here at Owens & Xley Consults we cannot get over the previous week. If you did not know, we had our Lunch and Learn event on Wednesday at the Launch pad and everyone who attended was buzzing with excitement that they had. The event was scheduled to last three hours but the attendees kept demanding for more insights so we obliged and extended it by an hour to give enough room for deeper learning on different aspects. Everyone learnt, we ourselves learnt new PR strategies, which we will be incorporating going forward. The theme of the event was “Position to Scale”. We discussed Strategic Goal Setting, Accounting for SME’s and PR & Brand Management.
Below are some highlights from our Lunch & Learn Event.
All goals are not created equal:Some goals matter more than some goals, those goals are called Wildly Important Goals. These are goals that impact every aspect of your business and those are the goals you should be setting.
You cannot do everything:We have limited time and resources, so it is only logical that we take on fewer goals, a study carried out even indicates that the more goals you have the lesser the probability that you will achieve them. Having 3 WIGS (Wildly Important Goals) is ideal as your energy will be more focused and do everything in your capacity to achieve your goals.
Cashflow is King: Cashflow is blood to every business, without which every business will die. We must manage our finances in order to ensure sufficient cashflow at any point in our business. Concepts like 30-day invoices help with that.
Variable costing is better for raising capital:There are two types of costing for products, Absorption and Variable costing, Variable costing method presents the business as more profitable and it provides a better understanding of the effect of fixed costs on the net profits because total fixed cost for the period is shown on the income statement
PR is not marketing:Many people always mix up the PR and Marketing but our facilitator was kind enough to define them for us. PR defers from marketing in the sense that PR should not always results in sales but marketing activities have a KPI of sales.
We are sure you picked up one or two new and interesting things; we would be on the lookout for you at our next Lunch and Learn event, tell a friend to tell a friend.
We at Owens & Xley Consults understand the challenges startups, entrepreneurs and small businesses face and our work is to create practical solutions that help navigate the day-to- day challenges of running a business. At Owens and Xley Consults, everything we do is geared towards helping you build the business of your dreams and living the life you desire. Whether you are thinking of becoming your own boss or currently have your own business, we have solutions designed to support you.
2019 is by the corner already and the most important thing you can do for your business is to position it to scale, granted you might have missed our event but Owen & Xley is always here. If you are looking to position your business for scale, you can email us at info@owensxley.com or call 08185177911.