Don’t under estimate the power of conducting a SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis. When we are working with clients this is usually completed quite early on in the process to get an overview of a company’s potential and is a key component when developing a business strategy. Below is a reminder of how …
One of the things that we often encounter in businesses we visit is DISORGANISATION – sometimes it’s the boss, sometimes it’s the team members individually, sometimes (but fortunately, not very often) it’s everyone. Other times it’s the office or workshop environment that creates the opportunity to be disorganised rather than the people themselves, but one …
The question of hourly rates is very relevant now. With costs increasing almost everywhere, business margins are being squeezed at a relentless rate. If you are in a service-based industry where your revenue includes a charge for time, then this may be of some interest to you. One of the topics I often debate with …
Lately, most of us will have been dealing with rising costs in our businesses. In particular, the rising cost of materials. This is not a new phenomenon, but the frequency of rises on materials has hit new highs and is not showing any signs of relenting any time soon. When it comes to dealing with …
One of the first questions we ask of our new business clients is, “if there was one thing we could fix for you right now, what would it be?” You would be astounded the answers that we get! We all need to remember that when we go in to a new business, none of us …
Most people have heard the terms “Can’t see the woods for the trees” or “becoming store blind”, but do you actually know what they mean? It is a common issue with a lot of SME business owners, generally because they are too busy on fire fighting to take a step back and try and look …
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One of the biggest reasons for business failure in Australia is not businesses not making a profit but would you believe bad cash flow management. This can be caused by several reasons. The most common are: The business is growing too quickly and does not have sufficient access to cash to fund the growth. Ignorance …
Some time ago I wrote about Covid and the Economy – here is an updated personal perspective looking to a new financial year. – John Cleghorn The government is talking a great deal about Australia getting vaccinated and staying on track from an economic perspective, however, in many circles, businesses are struggling to keep their …
You can’t predict change, but you can prepare for it. So much happened last year that was unexpected that at times it was quite overwhelming. In the early stages of the year, much activity was reactive and decision making was made on the “fly”. Looking forward, it is now a case of feeling much better …
Have you started your budgeting process yet for the 21/22 financial year? Every business should have a financial plan for each year and now is the perfect time to start putting this in place. Here are five tips to putting together a successful budget. Work out where you are going to end up in March …
