Tag: Managing the Books
Boost cashflow by reducing your cycle time
Many businesses fail despite having customers lined up around the block. The reason? They grow too fast. If you have a long cycle time between order and payment, chances are you’re used to cashflow crises. It’s time to reduce your cycle time.
How to grow your business without borrowing
If you've tried to get new lending or renew an existing loan recently, you'll know just how hard it is. As a result of...
Succession planning for strategic success
Like the royal successions that have taken place for centuries, succession planning is all about being ready for the future. However, unlike the monarchy, today’s succession planning in business not only focuses on replacing talent, but also on developing the talent that will fulfil the organisation’s long-term goals. Is your organisation prepared for a changing of the guard?
10 steps to accelerate cashflow by streamlining accounts
Asking for money is probably one of the least enjoyable jobs in business. If it isn't handled right, it can have a massive impact...
Crisis creates once in a lifetime opportunity
The current global financial crisis has been described as a “once in a lifetime recession”. However savvy business owners, entrepreneurs and investors recognise it as a once in a lifetime opportunity to make money.
Lessons learnt this year = more profit next year
There is an old saying: "If you aim at nothing you will hit the target with amazing accuracy." If you want to improve the results in your business, you need a target to aim for and a system for monitoring progress.
Polishing up your financial crystal ball
The 2008/2009 financial year would have to be one of the most volatile for many years. What will 2009/2010 bring for SMEs? Some say it will be tougher and there will be more job losses and some say there will be great opportunities around. Whatever the next financial year brings, every business owner needs to plan for the worst and the best case scenario.
Getting paid
Sometimes the hardest thing in business is not finding customers; it is being paid for the product or service you provide. As Australia's economy slows, the average age of accounts receivable is stretching many smaller and emerging businesses to almost breaking point.
Cashflow: Why profitable businesses go bust
If business is selling products or services and buying labour and parts at the right price, why do so many go bust?
Cash is often...
Who needs an audit?
While keeping a close eye on the activities of your competitors is advantageous, it's important to keep your own affairs in order.
STAY ON THE...
Strategy: Cash is king
While sometimes apocryphal, start-up failure rates tell a sombre story: most start-ups don't see their third anniversary. This high attrition rate has many causes, but a primary factor is poor cash flow management.
