Advertising is an essential component of success for any business. Proper advertising ensures more sales, but if you choose the wrong options, it can be a very expensive outlay for no return at all. “Most small businesses just think “too bloody expensive” when they think of advertising, so it is time to look outside the box and find the right kind of advertising for your business.” Let’s look at five… Read more
Growing a business requires you to collaborate, both internally and externally. So you should be facilitating employees in a way that allows them to work together to problem-solve and act with a shared purpose. And this applies even more so to remote or interstate teams. Starting and growing a business requires more than employees with extensive functional skills. You need to be on the same page. You need to collaborate.… Read more
Nearly 5 years ago I started this business. After 2 redundancies and 2 children under the age of 3, I just thought there had to be a better option for providing financial guidance with personality and flexibility. The personality came in abundance, but the flexibility not so much. So I am opting for a tree change in 2018. As a family we are moving to Ballarat, so my business will… Read more
Inventory is what makes your business grow, it’s what makes it tick. It is usually the largest asset on your balance sheet and your company’s biggest revenue-generator. Without it, you wouldn’t be able to make sales if you are in retail operations. It goes without saying that poorly managed inventory can do serious damage to your bottom line. Businesses without clear strategies for streamlining the in AND out flow of goods… Read more
Eighty percent of staff turnover is caused by bad hiring decisions, according to the Harvard Business Review. But few organisations question whether it is their own recruitment mistakes which are turning away potential talent. “In fact, I am sure most people blame the candidates if the work relationship turns sour. But if your recruiting strategy exhibits any of the following obstacles, it’s time for a rethink.” 1. Self-Absorbed Job Advertisements Most… Read more
Lets get the facts straight. I am a start-up business. I have been in business for nearly 5 years starting with 2 days per week, 3 days, now 5 days per week. I don’t have endless cash and I certainly don’t have spare money to pay for other business owners mistakes. Brand loyalty is earned and it can very easily vanish in an instant. You want to protect your brand,… Read more
If you thought your accounting software was just for tracking income and expenses, you’re losing out on an opportunity to improve your bottom line. Your accounting software can do so much more, and if used correctly, could boost your sales. By taking advantage of insights provided by your financial reporting, you’ll benefit from a more informed approach to marketing and customer service – and by making the most of all… Read more
You know what gets my goat more than anything…a meeting held just for the sake of having a meeting. If you are not having a productive meeting, then really, what is the point? Isn’t it just wasting your time? When running a business (of any size) – you simply don’t have time or resources to waste. Yet many small business owners waste countless hours on meetings that lack focus, run… Read more
So you want to move from a Sole Trader to a Company but you have quotes ranging from $500 to $3000. Why is there such a drastic variance? And what exactly are you getting for your money? “But the first question you need to answer is ..Do you even understand why you want to change structures?” Sure – you can change from a sole trader to a company, what seems to… Read more
When was the last time you really listened to your clients, your customers, your suppliers, your contractors, your employees – and actually gave them what they really wanted? Now of course everything within reason – I mean I would like a million dollars, a holiday to the Bahamas and also a house that cleans itself. “But every day, it is often the simple things people do that wins my loyalty… Read more
Each time I seem to go into a business Facebook group I see the same comment…. “My Bookkeeper/Accountant is over charging me – surely it is a simple job. Why are they so expensive? They are ripping me off.” Now, before I get my “ranty pants” on – let’s reverse this for a minute. Think about the service you offer and imagine how you would feel if people (who did… Read more
On average, small business owners spend 10 hours each week recording, organising, and processing financial transactions – everything from accounts receivable and payable, to employee payments, expense receipts and supplier invoices. That doesn’t sound like Bookkeeping Basics to me! While the process may be time-consuming (and tedious!), effective bookkeeping is the foundation of sound financial management – which in turn, is the lifeblood of your business. Feeling overwhelmed by mountains… Read more
Should I use Xero or MYOB or Quickbooks Online or Wave or Saasu or Freshbooks (the list goes on). This is a question we hear from small business owners every single week. So what is the best accounting software for a small business? “Now call me annoying – but I can’t answer that. And anyone who does, is not giving you an accurate answer.” #TRUTHBOMB So, um, if I can’t… Read more
Contrary to popular belief – I don’t have ESP, I am not Wonder Woman, I do not have a magic wand and I don’t have super powers. I make mistakes. I am human. But I am not a failure. Recently, in the craziness that was end of financial year, BAS season, putting our house on the market and generally trying to be all things to all people, I made the… Read more
Most small business owners who use accounting software quickly master the basics. They automate processes like invoicing and payroll, track expenses and view real time financial reports to manage cash flow and make better business decisions. But what many business owners don’t take advantage of are key insights that can improve customer care and increase sales. So we are talking the nitty gritty analysis. What do those numbers actually mean… Read more
I am a big believer that whilst I run my small business, community comes before competition. Relationships come before profit. And happiness comes before growth. Yes, I have over 100,000 competitors in the accounting & bookkeeping space in Australia alone – but I see those people as my mentors, my rocks, my shoulders to cry on, my support network to learn from and my community first and foremost. “Call me… Read more
The closer we get to 30 June and End of Financial Year – the more times I see the phrase “Buy now, so you can get a tax deduction this financial year”. I truly wonder how many unsuspecting business owners get sucked into this sales tactic – when they don’t even know or understand their tax position in the first place. “You see, a tax deduction is not the same… Read more
Cyber crime is a serious concern for business owners in this modern digital age. Hackers are good. Really good. So how do you stay one step ahead? Recently IBM Chair, CEO, and President, Ginni Rometty, called it “the greatest threat to every company in the world”. According to Juniper Research, by 2019 cyber crime will cost businesses a staggering $2 trillion. $2 trillion – WOW. Personally, we think it is impossible… Read more
I am writing this on behalf of every entrepreneur, every small business owner, every hustling parent – pretty much everyone busting their gut for the own business. I know deep down, you have also had days where you want out of your business. You want less stress, less hours, less hectic-ness, less fights with your partner, more happy times with your family, less constant struggles with balance and you want… Read more
The rise of the global workforce and the choice to offshore: the debate will not go away, so it is time to be educated and assess if you should hire/outsource parts of your business offshore. If you’re wondering whether it’s worthwhile to hire overseas workers and offshore part of your business for virtual admin support or other business services, cost considerations alone can make the prospect quite attractive. Before you… Read more