Wellbeing in the Workplace
Supporting and promoting health and wellbeing in the workplace is important for staff and business owners alike. Providing a physically and mentally healthy workplace is beneficial for all who work there, as it reduces staff absenteeism, increases productivity and makes the workplace more enjoyable. If you are an employer, workplace health and safety laws require […]
Cash is Not Profit and Vice Versa
The purpose of a business is to make money, and that means you have to know the difference between profit and cashflow. Net profit is what you have left after you deduct all your business expenses from all your revenue. You change net profit only by changing the things that affect revenue and expenses. For […]
How’s the forecast looking for your business?
Whenever we’re going on holiday or have plans for the weekend, we always check the weather forecast so we can plan accordingly. 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: If you have enough sales […]
Key points in the Federal Budget 2021-2022
The Federal Budget 2021-22 has many announcements and proposals aimed at economic recovery and includes investment in jobs, essential services, business incentives and tax cuts. Budget Highlights for Business Temporary full expensing measures extended until 30 June 2023 – the time frame for eligible businesses to claim an immediate deduction for the total cost of depreciating […]
How Good Is Your After-Sales Service?
When someone has just bought from you, that’s a golden opportunity to start building a customer relationship. Take advantage of being top-of-mind and see where it can take you – and ensure you are offering the best after-sales service to this brand-new customer. Thanking someone for a purchase is usually the start of a cadence of […]
Should I Focus on Profits or Cashflow?
Turning a profit is at the heart of running any successful company, but should profits be the only financial focus if you want to create a stable, long-term business? Cashflow is the beating heart of your business. Without an even and predictable flow of cash into the company, you can’t cover your overheads, pay your […]
What Do You Want from Your Business?
When you started your business, you probably dreamed about flexible hours and highly profitable, stimulating work. Ideally, you would have adopted best practice and documented those dreams in a succinct Business Plan. The plan would specify how much cash you need from the business, your role, and the hours you would be working. In other […]
Top Reasons Why You Should Take Employee Retention Seriously
Some businesses treat employees like cogs in a machine: lose a few and there are always plenty more to replace them with. But every person you employ means an investment of time and money. You’ve got to find them, bring them on board, and get them up to speed as quickly as possible. After all […]
Is Your Business Ready for Hybrid Working?
The Covid pandemic has changed the way we work and ushered in a new era of hybrid working – but is your business ready and able to offer this mix of on-site, off-site and remote working? When businesses were forced to close down their physical offices and workspaces, this brought technology to the fore. We […]
Before Taking on a Franchise, Ask Questions
So you’re thinking of taking on a franchised business. It has an established brand, customer base, profitable performance history, marketing support etc. What could go wrong? If you’re thinking about taking on a franchise, ask yourself the following questions to check the fit of the franchise with your personal and financial goals. What level of […]
