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17 Dec

November’s Food4Thought – business growth indicators

The last Food4Thought dinner of this year took place in early December, marking the end of over 80 hours of peer mentoring and around 1,000 courses of delicious food eaten at 31 dinners. (We didn’t keep a tally of the bottles of wine; that would have been churlish!) The year’s dinners have seen discussions on a comprehensive range of business topics covering all facets of smart business strategy, including business planning, purpose and vision, passion, innovation and product development. We also debated the five core elements of sales, marketing, finance, talent and operations. Having ranged over these subjects throughout the year it was time to knit it all together by talking targets. What metrics do you track for your business? And can you do anything about them if you miss them? Is someone keeping you accountable or if you miss the target do you adjust it down a little for next month? Types of targets Fundamentally there are two types of targets – which the groups all discussed at length....

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24 Nov

October’s Food4Thought – purpose & vision

Our latest Food4Thought dinners were themed around purpose and vision. Purpose is the reason you got into business, vision is the representation of where you want to take the business and why. The two things are intrinsically linked because your vision must deliver your purpose, otherwise you’re building the wrong business. In our dinners in Leeds, Sheffield and Newcastle ambitious business owners discussed critical aspects of purpose and vision, including: How do you define your purpose and vision and make sure that work/ life balance is included? Should you have separate work and personal visions, or are they the same thing? Once you have defined your purpose and vision, how do you stay on track? How do you build a team that will help you deliver that vision? Does every business need an exit plan? And what should that look like? How do you value a business for sale? And what do you tell your team (and when) if that’s what you’re planning? How do you maintain enthusiasm for a...

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