Free MYOB tools and resources to help you streamline your processes and grow your business. Explore...
Free Xero tools and resources to help you streamline your processes and grow your business. Explore...
Build a better business If you’re ready to grow your business, this guide will help. It offers ten strategies you can use ...
Advertising should be viewed as an investment that should generate a return, rather than a fixed cost. Many businesses spend ...
Your current business model is the way your business earns money. A change in your business model can bring substantially mor...
If you’re in retail, there’s money to be made online and it’s important your new business finds its place in the online...
Cash flow – the lifeblood of any business. The aim of any business owner is to have more cash coming in than is going out. ...
Running a successful business is a juggling act between cash coming in and cash going out. If you’ve built up a cash reserv...
Taxes – there’s no avoiding them. But there are ways to reduce the amount you have to pay so that your business is more p...
If your customers owe you money, the faster you’re able to obtain it using effective collection tactics, the better. Ideall...
Operating at a loss simply means you’re spending more money than you’re making. And while it’s not uncommon, especially...
Is it time for your business to invest in some new equipment? And if so, is it a smarter business decision and more cost-effe...
An asset ratio compares your assets to another part of your business. So, you could be comparing assets to revenue, profit, t...
Both cross-selling and upselling can be useful methods for increasing your business’s sales. But there are also genuine ben...
Depreciation is basically a reduction in the value of an asset over time. What this means for your business is that if you bu...
Being on good terms with suppliers could translate into special deals or preferential treatment. Your suppliers may also give...
Once your business is up and running, it’s important not to rest on your laurels. Successful business owners are always loo...
While your tools, skills and reputation allow you to operate, it’s your staff who can often influence your trade businessâ€...
Most small business owners start out with a good business idea but little concept of what it takes to manage and grow a busin...
Before you go down the path of seeking capital from outside your business, identify any other ways of raising capital. For ex...
1. Build credibility quickly Why should people buy from a new business? Your first challenge is to overcome their doubts by b...
As a small business owner, you’ll want to get positive returns on a limited marketing budget. It’s important to monitor t...
Start-ups are at a disadvantage when it comes to their first sales forecast because, clearly, they don’t have any historica...
Long-standing customers form the backbone of a strong, well-established business. Make it your mission to ensure that the vas...
If you want to grow your business, you’ll need a strategic plan – which should include how you’ll find new customers an...
Online distribution frees you geographically. Where you might have been selling your product or service locally, opening an o...
Two examples of this effective technique show you how you can set up your own focus groups. The concept of focus groups simpl...
For many small businesses, the best way to improve profitability is to increase turnover, as there’s no limit to sales but ...
Markets are dynamic and constantly evolving so no business can afford to stand still. No matter how excellent your products o...
Accounting software is readily available at brick-and-mortar and online stores alike. As with any business decision, you’ll...
If you’re looking impartially and unemotionally at the options ahead when starting your own business, you have to admit...
Whether you’re thinking of starting a new business, considering adding new products, opening a new branch, or increasin...
Here are some of the questions about starting a business that come up frequently. Q: I’m thinking about turning my hobb...
Before you start a business, and perhaps leave a job, try working out if your idea will be worth the risk. If you’re confid...
How can there be a profit if the year’s ended with no cash? It’s quite common for businesses to end the year with little ...
Finding money for the essential assets you’ll need to run your business efficiently can be a challenge. You’ll need to de...
The prices you charge for your products or services can have a dramatic effect on sales and profits. Your pricing strategy al...
Anyone who has been through a major earthquake, flood, fire or other disaster can confirm that a lot more could have been don...
Most business owners receive plenty of well-intentioned advice and ‘helpful opinion’ from family and friends. However, go...
Growth has its risks but a well-designed strategy can deliver stability, security and long-term profits. When it comes to exp...
It’s easy to come up with a number of business ideas but to make sure your idea is viable and can be run at a profit, y...
It can be easy for your heart to rule your head when you find a business you want to buy. However, if you don’t do thor...
What exactly is profit in a business? This article shows you how to avoid three common profit mistakes that can seriously aff...
At some point in its lifetime, every small business suffers from cash flow problems. The trick is to think ahead and figure o...
Sales and profit are two very different things – as a business owner, you can find yourself without the cash to pay bills d...
Franchising can be an excellent way of growing your business rapidly and earning a good return. It can also be a pathway for ...
Gaining larger profits depends on accomplishing all the little things better – rather than making one huge change. You’ll...
It’s important to identify and monitor the key drivers of your small business to boost profitability and cash flow. Boost p...
Growing a business is one of the most fundamental goals for all small business owners. Successful businesses are those that a...
Profit margins are fundamental to business success and growth. How you choose to increase your margins so your business can a...
The ideal promotion plan is one that results in clear steps you can put into action immediately. This means concentrating on ...
Coming up with new ideas for your business is essential for growth. And it’s exciting when you’ve got a new product or se...
If you’re serious about getting the best value you can for your marketing budget, you’ll need to develop a marketing plan...
A successful business is one that’s built around a solid business plan. It’s the architecture you base your business on, ...
How you price can have a dramatic effect on your sales, cash flow, and profit margins. Your pricing strategy will determine h...
When you are setting out and everything is moving so quickly, it’s easy to deviate from where you intend to be. If you donâ...
Your business plan is a management tool and is designed to suit the structure and needs of your particular business. There is...
The key to building value in your business is to plan the process in a systematic way, whether you’re aiming to grow your b...
Accounting problems can have serious consequences for your business and are definitely worth avoiding. Here we outline six wa...
More than just a book-keeper If you’re thinking that your accounting software is there just to look after your finances, ch...
Why accountants are necessary Unless you’re an experienced accountant yourself, it’s always best to have an expert overse...
What’s ‘the cloud’? Think of it like this: instead of storing and accessing your data from your own computer’s hard d...
Wouldn’t you like to be able to reduce your time spent on administrative tasks so you could focus on increasing profits and...
There are a number of ways to arrive at the price to charge customers. Regardless of which method you use for pricing your pr...
When you’re deciding what you really need to manage the books in your small business, it’s important to focus on your cor...
In today’s fast paced business world, technology has become as essential to success as a great idea. It’s a real equalize...
Are you planning on selling to customers in an overseas market? There are export channels galore to choose between – but wh...
A SWOT analysis is used to help fine-tune your business strategy by examining internal and external factors that may help or ...
Getting paid correctly and on time by customers can be a constant frustration for business owners. Communicating your terms i...
An effective export business plan lays the foundations for overseas success. Each piece of the plan should come together to c...
Like beauty, value is in the eye of the beholder. Your business is worth what the highest bidder thinks it is worth – unles...
Developing employee skills creates a situation where your company benefits from a more knowledgeable and capable employee, wh...
Below are some suggestions for unlocking funds without affecting your operational capacity. Keep in mind that you should alwa...
Cutting costs can be a quick and easy way to improve the profitability of your business. Introducing cost-control measures ca...
A competitive advantage is something that you offer or have that the competitor does not. There must be some compelling reaso...
For first-time exporters, finding success in overseas markets can be an avenue towards securing long-term, sustainable growth...
Many service providers simply pitch their price somewhere near the middle of the prevailing market rate. But it makes sense t...
Choosing the best export target(s) for your business is critical because ‘getting it wrong’ can waste time, energy and mo...
Before you start a business, you need to know exactly how much money you’ll need, and where it’s coming from. You’r...
Questionnaires provide an excellent way of getting feedback from your customers because everyone is familiar with them and is...
Whichever industry your business is in, cultural differences can have a direct impact on your profitability. If you try to un...
You probably already have a coordinated marketing plan, set prices, and know what you’re doing. However, to create more awa...
Putting a succession plan in place helps ensure the future stability of your business when you step aside or if unforeseen ev...
Planning for the succession of a business is an important and sometimes overlooked part of a business plan. It’s an inevita...
Planning for the succession of a business is an important and sometimes overlooked part of a business plan. It’s an inevita...
Whether you complete your business objectives in a year or 20 years from now, or you just feel like you need a change of scen...
Successfully exiting a business is a dream for many owners. Follow these ten steps and you’ll be in great shape to make you...
The break-even point is the point at which your company makes enough money to cover its costs. Past this point, the company s...
Knowing the value of your business is vital should an unexpected buyer come along, and the timing is right for you to sell. Y...
It’s important to start organizing your business for sale as early as possible. Business owners often think about selling d...
A succession plan is something every business owner needs to prepare for the inevitable – the day you’ll transfer assets ...
Coming up with a new idea is exciting, and you probably want to jump straight in and make it happen. But before you invest to...
1. Generate sales as quickly as possible Your first priority when you launch your business is to gain some traction in the ma...
Document the positives in your business plan to persuade both yourself (the most important person) and stakeholders such as l...
So you have a great business idea and are convinced you can make it work, but you don’t have much capital to get your b...
Many people underestimate start-up costs and start their business on the back foot financially. This can mean a long crawl up...
1. Put together a strong advisory team Starting a business can be a lonely process and thinking you can do it all yourself is...
Getting your business up and running and making a profit is usually much more difficult than it sounds. This article focuses ...
Putting a succession plan in place helps ensure the future stability of your business when you step aside or if unforeseen ev...
If you’re buying or selling a small business, it’s critical to know what the business is worth. The challenge is that wha...