A lot of people dream of owning their own business—doing what they love, being the boss, and making a fortune. But then the harsh reality of owning and running a business takes over, and their dream is all but forgotten as they deal with the responsibilities of: sourcing and tendering for work taxation compliance (e.g. […]
Imagine that your business is in trouble. Real trouble. It’s practically bleeding cash, and you’re rapidly losing customers. In short, your business is dying. And unless you find regular and profitable customers soon it’s going to flatline. Not a nice image, is it? Fortunately, most businesses can make a full recovery providing: they receive the right treatment […]
Every business owner should have a strategy in place to increase the profits of their business. Makes sense, doesn’t it? And yet 70% of the people I’ve spoken to who own small and medium-sized businesses don’t even have a basic strategy in place. What they have instead are excuses. The most common excuses we hear […]
As human beings, we are heavily influenced by what we see. If we spot something dangerous, we immediately ready ourselves for ‘fight or flight’. If we find ourselves in a peaceful environment, we tend to relax. And looking at the state of our home quickly tells us we have a lot of housework to catch […]
Success in business requires a number of essential ingredients. A sound strategy. A robust business model. Effective planning. Strong financial control and bookkeeping. A good team. Great systems. Measurement. Focus. But you know what? Even all those elements are not enough without this skill: Execution. Call it “Getting Things Done”, making things happen, the action habit, […]
Many of the ‘dramatic’ changes that impact on mature business models – online retail vs traditional retailers, the shift from paper publishing to online publishing, the demise of packaged electronic products on shelves to download delivery, or for example, the impact of Uber on taxi services – were reasonably predictable. There were recognisable indicators for […]
Many small business owners are entrepreneurs who went into business seeking freedom, a better lifestyle, more money or simply because they wanted to run their own show. Financial acumen is rarely high amongst the skills possessed by such people. As such, it is only to be expected that business owners make financial mistakes which can […]
Most people are not surprised when a start-up business fails. But it’s not just start-ups that grow to death; it’s also a common cause of business failure for mature businesses. Start-up businesses often fail because they are undercapitalised They grow until the money runs out and then they can’t afford to fund further growth. The […]
Many business owners don’t realise that the business has outgrown its structure until something comes up – and this something is usually something negative. Are your assets at risk? Legal action by employees, customers and suppliers as well as divorce are the two primary risk issues for many business operators. If you have been operating […]
Lots of great ideas but struggling to put them into action? Here are 10 ways we can help you to kick start your small business
Planning your small business right from the start will increase your chances of success.
How can you hope to improve employee performance if you’re not talking to them? One-on-one meetings should be part of your weekly schedule…here’s why.
Profits down? That can get a business into trouble quickly so working out how to increase profits in your small business is vital. Here are the 5 top ways…
Technology is the “great enabler” but make sure it’s serving you by enabling you to increase profits. Don’t be tempted to lower prices to compete. Here’s why…
7 crucial aspects a small business owner needs to face up to, not just in their business planning but in their mindset and thinking
If you don’t have an exit plan for your small business 12-36 months in advance of selling, you won’t maximise its value. Don’t settle for less…follow these tips.
Learn more about how Australian businesses are being affected by coronavirus and what the government is doing to help out.
Keep on top of your numbers in an efficient, accurate and timely manner. We advise on the systems and processes to administer this. Or, utilise our bookkeeping and accounting services to free up your time.
Paul Sweeney from Pretium Solutions was part of the team who created the Business Funding Guide, FitsMe – Essential Guide to Business Funding. This ground-breaking guide was developed by the Australian Small Business and Family Enterprise Ombudsman (ASBFEO), in partnership with Scottish Pacific Business Finance. This guide gives small business owners key information on how […]