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Key lessons for business owners from the Dick Smith saga
06/10/16 - Financial Performance, Growth
The recent collapse of the Dick Smith chain highlights the fact that no business is immune from potential catastrophe. But it begs the obvious question – how can a company as big as this and turning over $1.3 billion – a listed company – fail? No doubt we'll hear more in the months ahead as the receivers get to work. However, the lessons are the same for every business - from the corner store, to family businesses, to listed companies.
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Cash is king – 7 strategies to manage your cash flow
06/10/16 - Financial Performance
We've all heard the saying before: Cash Is King! But what does it mean and why is it so important? Cash is essentially the blood that pumps through the veins of a business and keeps it alive. In most businesses, both small and large, problems occur when their cash flows are managed poorly and cause both owners and their employees' significant stress. So in these more uncertain economic times, how does a business manage its cash flow to ensure its continued success?
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Top 6 New Year’s resolutions for good financial health
06/10/16 - Financial Performance
A new year is traditionally seen as a time to set new ambitions and make resolutions for change. I therefore thought it might be useful to provide my top tips for good financial health in a business.
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Heed the warning signs for your business
06/10/16 - Growth
There are two warning signs to look out for and if you don't have your finger on these key business parameters you're flying blind.
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Are you getting the right financial advice to run a prosperous business?
09/10/16 - Financial Performance
An Australian-owned small business with a turnover of more than $10 million should not be going broke. So why, recently, has there been a spate of small businesses doing exactly that?
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So your business is underperforming? What can you do about it?
06/10/16 - Financial Performance
What can a business owner do if their business is struggling, especially if they’ve invested their heart and soul (as well as a large amount of capital) into the business?
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My top 4 tips to future proof your business
06/10/16 - Financial Performance, Growth
The literal definition of future proofing is: the process of anticipating the future and developing methods of minimising the effects of shocks and stresses of future events. Sounds a lot like planning doesn't it? You'll also note the significance of the word "process". This suggests that future proofing is not about one-off gimmicks or quick fixes - it is a course of action, an ongoing function.
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How do you monitor and review your strategic growth plan?
06/10/16 - Growth
We live in a constantly changing world. You must ensure that you keep yourself informed of business trends, new products and new technologies that will have an influence on how your business performs and update your strategic plan accordingly.
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How to develop a meaningful vision statement
06/10/16 - Growth
How often do you walk into a business and see a vision or mission statement on the wall? How often does it stop you in your tracks, tug at your heartstrings or inspire you to do something different? My guess is not too often, but there’s one way to change that.
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A small business turning over millions should not be going broke!
30/09/16 - Financial Performance
Nearly every week we read about an Australian-owned business going broke – even though their turnover is in the millions. Within the last week…
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