Ultimate Debt Collection Process PLUS the Ultimate Debt Collection Method Use very clear terms and conditions AND REPEAT THEM Regularly remind your customers of what you are expecting. Hand your payment terms to customers when you do the quote, [...]
Profit versus Tax Is your Accountant Encouraging Bad Business Decisions???? (albeit inadvertently) In a bid to reduce your tax, do you forgo profit? Do you buy up extra "unnecessary" items in the Financial Year End Sales to gain the Tax [...]
The Business Gamble - are you Winning? Business Owners Back Ourselves By Starting Out, But very few of us ever check if we are winning.... Anyone who leaves their job to go into business is taking a gamble - [...]
Pricing - the Holy Grail of Maximising Profits Great Pricing = Knowing Markets and Costs = Maximising Profits Setting the perfect price may seem like a dark art, but with a bit of research, and the know-how outlined below, [...]
How to Charge More Without Upsetting Anyone (except perhaps your competition). 4 tips to Raising your Prices (even just a little bit more) About this time of year each year I raise my prices, it's my birthday and that seems [...]
A Vital KPI Key There is one thing about KPIs to always remember KPIs are Key Performance Indicators; not the ultimate panacea of perfect business KPIs can really be powerful when used in conjunction with other tools and methods [...]
Taking Wages versus Profit (or Both) As a Business owner which is better Profit or Wages? I am often asked this question: Should I pay myself more, or take extra profit from the business? The best way to work [...]
To Fix Budget Problems Investigate the Causes Oh No - it doesn't look like I thought it would!!! You built a budget, and took the time to get some actual information entered as well, and now you're looking at your [...]
Understand Mark-up versus Profit Margin Mix them up and you may rip yourself off! * Pricing Right = Good Mark-up * Profiting Well = Good Margin You can't calculate margin without first establishing your [...]
Creating the perfect SME KPI Dashboard is tricky So, use these 6 steps to get the best out of your BusinessKEY PERFORMANCE INDICATORS - exist to direct decisions and actions; effective KPIs motivate profitable, and successful, business decisions. It seems [...]
Getting paid on time is critical to the success of any business - BUT uncooperative Debtors are all too frequent. Understanding these 5 excuses will really help you collect your money faster. 5 Debtor Excuses for NOT Paying & [...]
If you only do ONE thing for the new Financial Year... Start a BUDGET! Budgeting is absolutely the best way to improve your business profits and overall business value next year (and the year after, and after that too). Almost [...]
Accurate Spreadsheets Matter I believe the primary purpose of preparing any report is to drive good decision-making; if a report is incorrect then it is practically impossible to end up with the best decision, so it [...]
Start Cleaning NOW for Sparkling Financial Results If you are in the Southern Hemisphere, get ready for the new financial year If you are in the North, then doing a little housekeeping will help keep [...]
Don't Let Accounting Geek-Speak Freak you out.... These easy tricks will make you a business wiz AND help you avoid techy stuff! Firstly, stop worrying about how complex accounting seems, lots of terms; cut through financial jargon...Take a different approach. [...]
Assumptions, Lack of Knowledge and Hubris - Don't you get caught! There are thousands of posts about clever successful business owners, but becoming successful takes practice, and often leads to blunders along the way. These are some very common Dumb [...]
Make every report perfect with these 4 "F" Factors Are your reports: * Lengthy? * Badly Laid Out? * Hard to Interpret? * Difficult to compare or see changes over time? * Ugly? Do they deserve a big F for [...]
Every Business Owners Dilemma Should I pay myself more, or take extra profit from the business The best way to work out the answer is to start with some definitions: Profit is the reward for taking the Risk [...]
Measuring in business helps you manage more profitably Unfortunately, measuring usually means numbers and numbers often makes people run away in fear - here are some great tips to make measuring really easy, without the geek-speak, (or the fright)! [...]
What would happen if your Reports Helped you more? Simple: - you would never make bad decisions! Your reports are decision-making tools, rather than data summaries. Do you regularly receive reports, or have you given up entirely and instead make [...]
