Key lessons for business owners from the Dick Smith saga
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 […]
Three reasons businesses don’t have cash
There’s an old saying – profit is opinion, cash is fact. That’s because despite making a profit, some businesses still don’t have enough cash to pay the bills. At the end of the day, a lack of cash will kill a business. Since the GFC, banks have been paying increased attention to the cash flow […]
Cash is king – 7 strategies to manage your cash flow
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 […]
Top 6 New Year’s resolutions for good financial health
A new year is traditionally seen as a time to make resolutions for change. I therefore thought it might be useful to provide you with my top tips for good financial health. In a previous blog, Three Key Ratios for Business Success, I talked about the need for any business to achieve a certain rate […]
So your business is underperforming? What can you do about it?
It’s usually easier to look back after a business has failed and identify why, than it is to save a business from failing in the first place. In my view there are a number of reasons for this, not the least of which is the fact that everyone is always wiser with the benefit of […]
My top 4 tips to future proof your business
I often read about businesses that don’t last the distance – businesses that look like they have great potential but just somehow can’t be sustained. I can’t help but think that many of these organisations mustn’t give any thought to “future proofing” their business. So what is “future proofing” and why can it help businesses […]
A small business turning over millions should not be going broke!
Nearly every week we read about an Australian-owned business going broke – even though their turnover is in the millions. Within the last week alone there have been reports of collapses including Trazlbat (with a $20m turnover) and Ultimate Creative Agencies (with around $12m turnover). The question raised by such developments is: how can businesses […]
