Thursday, October 18 2018
“The cloud” is a phrase that means something very different these days, due to the increasing use of cloud computing. But what exactly is cloud computing? And is it a good option for small businesses?
First, a quick definition. Without getting lost in ‘geekspeak’, cloud computing simply means both the software apps you use and your data are stored on remote servers on the Internet, rather than ‘locally’ on your computer’s hard drive or your own server(s)...Read more
Thursday, October 04 2018
Think back to the days before you started your business, when you were working for a boss. Chances are you were rewarded for your hard work with a regular salary. It may not have always been the same amount, but it came through like clockwork. And for the next week, month or however often you got paid, you’d do your best to make it last.
But now you are the boss, and so you don’t need to be restricted to a set salary, do you? You can simply draw money out of the business whenever you need it, right?...Read more
Tuesday, September 18 2018
As a business owner, do you or your managers spend a lot of time recruiting, conducting exit interviews, and onboarding new staff?
When the ‘revolving door’ in and out of your business doesn’t stop revolving, it can impact so many parts of the business that it soon becomes a priority to address the problem.
A high staff turnover rate doesn’t just impact those doing the hiring. It is damaging for general motivation, performance and productivity; it may lead to negativity in the workplace culture; the cost of hiring eats into profits; training and development costs go through the roof; and, worst of all, the chaos that can result from a constant flow of new faces in the business flows outwards to customers – and may cause them to look elsewhere... Read more
Monday, September 03 2018
While everyone wants their businesses to be successful and operate for a long time, you may not necessarily want to remain at the helm.
At some point, you may want to pass the business on to your children, or to someone else in the company. You may want to sell your share to your business partner. Or you may want to sell the business to another person or company, and retire on the proceeds.
Ideally, you will choose the timing and method of your exit from the business. However, the way life unfolds sometimes, business owners do not always have a choice in what happens, or when...Read more
Wednesday, August 15 2018
When Benjamin Franklin said that the only things certain in life were “death and taxes” most people didn’t consider that they may be closely linked.
But problems with taxes can lead to the death of your small business unless you take steps to keep the taxman off your back.
With sales meetings, recruitment, salaries, cashflow issues, marketing, suppliers, and a whole string of other things for small business owners to worry about, there’s no need to add the taxman to the list...Read more
Wednesday, August 01 2018
There’s a saying in business, “You can go broke making a profit.” And another, “Cash is king. Profit is theory.”
As you know only too well, you don’t pay rent, meet payroll or pay your bills with profit.
You pay them with cash.
Friday, July 20 2018
As much as we hate to admit it, the best business owners and executives can drop the ball on occasion. This is particularly true of the little things, which can be easily overlooked.
When it comes to keeping track of business expenses, even the most attentive and mindful can fall behind. Physical receipts and invoices can easily be misplaced before you set foot back in the office. Hunting around for them causes headaches, wastes time and hurts productivity.
Tuesday, July 10 2018
Think you can do a better job yourself - by managing your own super?
You may be right. A Self-Managed Super Fund (SMSF) may provide an excellent opportunity to better build wealth for your retirement. But only if you get the right advice and set it up correctly...Read more
Wednesday, June 27 2018
No matter how profitable your business is, it won’t survive without good cash flow. If you can’t pay your bills on time, you may end up trading while insolvent. And that’s not just bad business—that’s illegal.
But to do that, you need your clients to pay their bills on time. And that’s something you can’t always rely on. Sometimes they forget. Sometimes they don’t have the money. And sometimes they just decide they don’t want to...Read more
Saturday, June 23 2018
Starting a business is part science, part art, and a large part hard work! It can get lost in all the excitement but you need to get the balance right.
Approximately 20 percent of all small businesses fail in their first year; and your chances of your business making it to five years are around 50/50.
One thing is for sure: leaving your success up to chance is not an option. Get clear on where you want to take your business and how you are going to get there.... Read more