If you ask 100 business owners what they like least about running a business, chances are good that bookkeeping will rank high on the list. It’s an annoying and frustrating chore that takes up a lot of time and is easy to put off until tomorrow. Avoiding your bookkeeping is dangerous, however. Not knowing your company’s financial situation can result in a series of missteps that could ultimately cost you… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. We’re thinking of everyone affected by lockdowns around the country and encourage you to reach out if you have any questions about your business during this time. Read on for assistance that may be available to you. End of Lockdown in Sight for Melbourne Melbourne will exit its coronavirus… Read more
Every business needs a financial plan. Your financial plan gives you a way to monitor and review your cash flow, make adjustments to your spending, and anticipate any upcoming financial issues. It can also make you more prepared to request funding or find investors so you can bring more money into your business. Although many business owners are aware that financial planning is important, it is often overlooked. Without a… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. We’re thinking of everyone affected by lockdowns around the country and encourage you to reach out if you have any questions about your business during this time. Read on for assistance that may be available to you. Vaccine Passports for International Travel The government has taken a major step… Read more
You started your business with plans of earning a living and being successful, but an unfortunate fact of business life is that companies suffer financial hardships. Whether those hardships are pandemic-related or linked to other urgent situations, the effect is still the same. Your finances are negatively affected and it’s up to you to lead the recovery. Here are 5 steps you can take to help your business recover after… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. We’re thinking of everyone affected by lockdowns around the country and encourage you to reach out if you have any questions about your business during this time. Read on for assistance that may be available to you. COVID-19 Government Support By State and Industry Small businesses that are currently… Read more
With cryptocurrencies gaining notoriety, many people are unclear on how or when they can be taxed. Despite widespread belief to the contrary, you can be taxed on gains made as a result of obtaining or using cryptocurrency. If you’ve made a profit from trading cryptocurrency, for example, you need to declare it at tax time. Here is some important information on cryptocurrencies and their implications for your taxes. How cryptocurrency… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. We’re thinking of everyone affected by lockdowns around the country and encourage you to reach out if you have any questions about your business during this time. Read on for assistance that may be available to you. Melbourne and Canberra’s lockdowns extended The lockdown in Melbourne was due to… Read more
Solid cash flow management is vital to ensuring your business survives, but not everyone understands what cash flow is or how to manage it. That’s likely what makes it a leading cause of stress for small business owners. In fact, a Capital One study found that 42% of small business owners say cash flow management is a major concern for them. Cash flow refers to the movement of money into… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. We’re thinking of everyone affected by lockdowns around the country and encourage you to reach out if you have any questions about your business during this time. Read on for assistance that may be available to you. Australia Closes One-Way Travel Bubble from NZ Australia has paused “green zone”… Read more
One classic mistake business owners make when money gets tight is to stop marketing or cut their marketing budget. At first glance, it seems logical to cut down your expenses during tough economic conditions. However, in reality, it’s the opposite of what you should do. When your business is struggling, cutting your marketing budget will further hurt your business. It is during this time that you should go the extra… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. We’re thinking of everyone affected by lockdowns around the country and encourage you to reach out if you have any questions about your business during this time. Read on for assistance that may be available to you. Tougher COVID-19 Restrictions in Melbourne New stricter COVID-19 restrictions came into effect… Read more
Deciding on an online marketing plan can be overwhelming for small business owners looking for affordable ways to nurture steady, sustainable growth. With time in short supply, the key is to find one or two growth strategies that will get results at minimal cost. These proven growth hacks offer business owners a few simple, cost-effective ideas for attracting new customers, increasing brand awareness, and ultimately, getting more sales. Build your… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. We’re thinking of everyone affected by lockdowns around the country and encourage you to reach out if you have any questions about your business during this time. Read on for assistance that may be available to you. NSW Expands COVID-19 Lockdown New South Wales has expanded the COVID-19 lockdown… Read more
For an online business owner, scarcity is a valuable tool that can turn a failing product into a winner. It is best implemented in a subtle way that does not draw attention to itself, but the urge to purchase remains very potent. Scarcity can be a small part of your sales process that adds some additional revenue, or it can be a major component of your marketing funnel that influences… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Australia’s Path to Reopening International Borders Prime Minister Scott Morrison announced a four-stage plan which will determine when COVID-19 restrictions can be eased. In a nutshell, 80% of Australian adults will have to be vaccinated before international borders can open. So far, about 15.7% of adults have been fully… Read more
Hiring an accountant is widely considered best practice for small business owners. But delegating financial analysis and reporting doesn’t mean completely checking out of the process each month or quarter. On the contrary, it’s recommended that business owners work closely with their accountants throughout the year to better understand their financial position, and make smart plans for future growth. Want to increase your accounting knowledge so you can have more… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Greater Sydney Lockdown to Extended by 4 Weeks What began as a two-week lockdown on June 26 for the more than 5 million people living in Greater Sydney will now stretch until at least August 28, as COVID-19 daily case numbers continue to grow. Existing rules including the five… Read more
Business dashboards are a valuable business intelligence tool, offering an “at-a-glance” big picture view of a company’s performance. Some business owners use a dashboard to track KPIs relevant to just one aspect of their business, such as sales growth, marketing, or financial data. Others rely on an executive dashboard for an overview of data culled from various sources (e.g. their accounting software, CRM tools, and website analytics). The great advantage… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. South Australia Announces Shutdown, Victoria Extends Lockdown South Australia moved to a full lockdown on Tuesday after the number of local COVID-19 cases grew to five. The lockdown will last for at least a week to contain the spread of the Delta variant. This article outlines the COVID-19 rules… Read more