Bookkeeping tips
Bookkeeping Tips Bookkeeping is like looking after your teeth – do it yourself daily and get a check-up regularly from the professionals. It’s not illegal to manage your own bookkeeping for your business (although it probably should be for some) and with the advances in technology, bookkeeping software is making it easier for business owners to take... Read More
Small Business Advice – Profits
You don’t know what you don’t know! Small and micro businesses that are looking to improve profitability in the business need to look at two key areas; 1) Make More 2) Spend Less It may seem obvious, but you need to look at these two areas together in their relationship rather than in isolation. Many... Read More
Financial Ratios – the basics
How often do you hear the terms margin and mark-up used in business? While most business people understand that these financial ratios relate to profits, how many of them understand the calculation behind them and what they really mean? Let’s briefly look at a few of the key financial ratios that... Read More
Benefits of Business-Benchmarking
Would you like to have an insight into what your competitors are doing? Consider the benefits of knowing how profitable your competitors are and how long they are holding their stock for or how long they are waiting for customers to pay. So what is business-benchmarking? Business-benchmarking is the process of analysing industry data to... Read More
Profits start at Break-even
BREAK-EVEN POINT What is your break-even point? How many businesses have considered this in planning their sales strategy? The break-even point is the level of sales that will earn a profit which is just big enough to cover the fixed costs of the business. To illustrate this point by way of an example; A business... Read More
Fraud in Business – 5 ways you can manage your risk
The pressure of today’s cost of living can be a major incentive for employees to consider fraudulent activities that will allow them to create an additional income stream for themselves with no particular cost, albeit with significant risk. Micro businesses are somewhat protected from fraudulent activity due to the small number of personnel involved and... Read More
Pitching Suicide – How to kill your pitch in 7 easy steps.
This blog has been re-posted with permission from Glen Carlson and the team at www.keypersonofinfluence.com.au. Pitching Suicide – How to kill your pitch in 7 easy steps. It seems many people actually want to publicly murder their own pitch. I love great pitches, and I hate to see them die slow, humiliating public deaths. If... Read More
Budgeting Tips
Do you set off in your car not knowing where you are going? Do you take note of the road signs, traffic lights and watch out for dangers on the road? Do you wait until your car fuel gauge light is flashing before you put fuel in your car? If you do not have an... Read More