5 Accounting mistakes that kill SME growth
To help ensure you maximise your profitability and business compliance, here’s a list of five common accounting mistakes business owners make.
What’s your debt collection battle plan?
It’s not enough for your business to only generate sales. Collecting payment for the products and services you’ve supplied is equally important.
What does procrastination cost you?
No doubt you’re well aware of the obvious ways procrastination impacts your life – late for a meeting (again), the fully-booked house you wanted to reserve for the holidays, or the apologetic call to a client for not delivering a project on time. But do you realise that you’re paying an even bigger price in lost opportunities and bottom-line financial costs?
3 Simple financial ratios that measure business performance
If all you’re doing is keeping track of your transactions, you could be missing key information about your businesses’ financial health. To measure your success and plan for the unexpected, take some time to consider these financial ratios next time you review your financial statements. Management thinker Peter Drucker is quoted as saying that “you […]
Are you using your business as a vehicle to create personal wealth?
The most common way to accumulate wealth is by making good money choices and recognising bad ones quickly, setting financial goals, being financially disciplined, and managing your finances well. Importantly, you need to develop habits that ensure you’re able to accumulate assets and generate more money, year after year. Being an entrepreneur often means that […]
Budgeting for a healthy cash flow
Are you running your business by the seat of your pants and hoping you’ll find the money at the end of the month to pay the bills? If so, it’s likely you’ll end up with uncontrollable debt and financial pressure that could sink you. Do any of these apply to you? You’ve got no plan […]
5 Tips for making the most of your opportunities to scale
2020 was an immensely difficult year. Because of the economic downturn in the country, it left a lot of businesses with insurmountable odds to make things work and so, many businesses have had to shut up shop. While this has been unfortunate for many business owners, it does present those who have been able to […]