It’s a well-worn phrase, but it's imperative that you control your cashflow, as this really is the lifeblood of your business. When your cash inflows are greater than your cash outflows, that puts you in a positive cashflow position – giving you the liquid cash needed...
It takes guts to start a business. It also takes a strategic mindset to succeed. Business owners are no strangers to weighing risk and navigating uncertainty, but the current climate has dialled everything up. Many business owners face the uncomfortable position of having to remap carefully...
Xero offers your business a simple, yet powerful, way to manage all your finances in the cloud. With Xero as your core finance system, you get real control over every element of running your business, from basic bookkeeping right through to efficient online invoicing, live bank...
Buying an existing business can be a great way to get started as a business owner, or to expand operations if you are already running a business successfully. Established businesses have already done the hard work of setting up a business, so you can get up...
Accountants do more than you think. They can give you strategic advice and come up with clever ways to save money or boost revenue. They’ll also remove or automate administrative tasks that distract you from your core business. Get an accountant and you’ll run your...
Do you understand the story your Balance Sheet tells about your business? It’s important you understand the components of your Balance Sheet and the key ratios that measure the health of your business. It measures the net worth of your business. You Balance Sheet is...
When we set out on a fishing trip or hike, we always check the weather forecast. It’s no different in business. The forecast tells us if there’s bad weather (poor cashflow) in store based on the direction we’re heading. Your forecast will tell you: Whether you have...
We've all heard of a "Unique Selling Point", or USP. But what exactly is it? Making your business stand out in a crowded market can be a challenge, but differentiating your business will be key to attracting the right customers and giving them a reason to...
You’re in business, congratulations, that takes courage and commitment. But how do you build a better business - one that brings you the success you're looking for? It’s not easy, and at times you might find yourself questioning why you’re even doing it, but you’re here...
If you want to reduce bottlenecks in your business and increase efficiency, you need an organisation chart - simply redefining your structure won’t be enough. There are five things which are critical to getting the best from your organisation structure: Keep it visual. Your Organisation Chart...