By Seamus Parfrey

Your competition is stiffer than you think.

Your ability to win a sale is harder than you think.

It's because you aren't just competing with your direct competitors.

For example these battles happen...

* Does a consumer buy a new bed or opt for a Caribbean cruise?

* Does an engineering business hire a new person or invest in new machinery?

Your buyers have a limited budget too. They can spend their money with you. Or they can spend their money on a variety of other products or services fighting for their cash.

How do you compel customers to buy from you rather than any of your competitors?

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By Noel Murphy

I was recently asked what I thought were the five most important things a business should not do.

In no particular order they are:

1. Don't be over optimistic

I generally find that businesses overestimate their income and underestimate their expenses which effects their profitability and cash flow which allied to overestimating the speed of cash inflows can create cash   flow problems. The advice here is to be realistic as possible and also do planning for various assumptions/scenarios.

2. Don't ignore your continuing education

It is essential that you continue to invest in your knowledge base by reading relevant and recommended business books, attending courses together with keeping up to date on the latest trends and technology in your industry. You can only be a continuing expert in your industry by creating a strong educational environment for yourself. 

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