Beyond COVID-19 – How to build value in your business

We’ve said it before and we’ll say it again – this has been an extremely difficult few months for all of us, but there is no better time to think seriously about your business. In this article, we have compiled a few tips to create value in your business. The key to building value in your business is to plan the process in a systematic way, whether you’re aiming to…  Read more

What to do when reopening your business

As many business owners look to life after COVID-19, an important question comes up: how do we plan to reopen our business? For most businesses, the easing of restrictions doesn’t mean a return to business as usual. There are rules and regulations in place about how companies can operate, including how many people can be on their premises at one time and how employees must be protected. Customers may not…  Read more

Sometimes we have to say no

A little note from us Our role as trusted advisors is to support small businesses, but we cannot compromise our standards along the way, particularly as the effects of COVID-19 continue to rage on for our clients. The Tax Practitioners Board (TPB) together with the ATO recently released a statement as a reminder of the ethical responsibilities of accountants and bookkeepers. The core of their message was that the ATO…  Read more

Tips to continue marketing on a shoestring budget

As many business owners are experiencing, the COVID-19 pandemic has created serious financial difficulties for entrepreneurs. Small businesses especially are faced with cutting their budgets so they can continue to operate—even at a smaller scale—and not have to close for good. They also have to figure out how they can market themselves so once the pandemic is over, their customers and clients come back to them. During a financial crisis,…  Read more

Ways to run your business if you can’t open your premises

The COVID-19 pandemic has proven challenging for many small business owners. It’s difficult to run your business remotely, especially if you’re not set up to do so. If you run a business that requires customers or clients to come to you, you might be very concerned about how you can continue to operate without opening your premises. If you have access to technology, are adaptable, and are willing to look…  Read more

How to build a cash war chest when money is tight

Your “war chest” is the financial reserve your business has built up so you can take advantage of an opportunity or cover unexpected costs or emergencies. Building a cash reserve when finances are tight, however, can be difficult. You need money to continue running your business but, if at all possible, you want to keep your reserve account healthy. Here are some ways to build—or preserve—a cash war chest during…  Read more

How to market and sell remotely – free webinar

We’ve teamed up with the company that helps with our website and marketing to bring you a free webinar on how to market and sell remotely. Like us, they’ve been 100% remote for seven years but have built a global business and they want to share how they did it with you. We’ve attended webinars from them in the past and they are always practical and useful. They are going…  Read more

JobKeeper + COVID-19 Update

The COVID-19 pandemic is impacting nearly every aspect of our lives and will be remembered as a pivotal time in history. Like any other event that impacts the world, we don’t know what the future will be like, but we do know that the other side of this will require resilience and creativity from all of us. In the spirit of resilience, we have put together some useful resources to…  Read more

Communicating during a pandemic

Most small business owners face a time in their career when they have to communicate in ways or about topics they aren’t comfortable with. COVID-19 has put small business owners in the position of having many conversations that are uncomfortable and stressful. Whether you’re communicating with employees about business issues during the pandemic, hoping to negotiate a rent reduction or changes to credit terms, or asking customers for help in…  Read more

This week’s COVID-19 updates

We’re back for another week! Hopefully you had a nice Easter break. Many of us are adjusting to a new normal of staying home as much as we can, while finding a groove with working remotely, if that’s an option. The government is putting together financial resources to support small business, and many other businesses are doing what they can to help business owners keep the lights on and maintain…  Read more

$10,000 grants for struggling NSW businesses

$10,000 grants for NSW businesses On Friday 3rd April the NSW state government announced $10,000 grants as fast relief for NSW businesses that need it most. The new assistance scheme is for businesses struggling to cope with the COVID-19 shutdown, and is based on a similar scheme rolled out during the bushfires. Premier Gladys Berejiklian said the “grants will provide a big boost, and we will make the application process…  Read more

Encouraging word of mouth

If you have any doubt that word of mouth referrals are important, consider these recent stats: According to Neilson, 92% of shoppers trust recommendations from friends and family more than traditional advertising 20% to 50% of consumer purchases are made because of a word of mouth recommendation 81% of buyers are influenced by their friends’ social media posts. So how can you encourage positive word of mouth for your small…  Read more

Insights from your Profit and Loss account

Most small business people would agree that their Profit and Loss account (now more correctly called a Statement of Financial Performance) is among the easier – if not the easiest – financial document to understand. It’s typically presented in two parts. The top half of the statement reveals the various sources of income the business has received for the period covered, such as a quarter, half year or full financial…  Read more

Strengthening your balance sheet

Your balance sheet (now more correctly called a Statement of Financial Position) reveals a great deal about your business, including the total value of your assets – the things you own; how much you owe to others – your liabilities; and the level of your solvency. These three aspects will be studied carefully by lenders and investors − and by buyers if you intend to sell your business. But they…  Read more

4 tips for getting your business through tough times

If you’re a small business owner whose company hasn’t gone through hard times, that’s great but it’s likely to happen at some point. As much as we dream about being brilliant enough at business that we’ll never face slow times, there are many things beyond our control that can negatively affect our business. Here are four tips for getting your business through difficult periods so you can look forward to…  Read more

Why you should be using two factor authentication

For small business owners, the risk of data breaches and fraud is high, so taking all the necessary steps to protect your sensitive data is a must. Unfortunately for many entrepreneurs the decision to increase their company’s data protection comes too late – after they’ve been victimized by a malicious hacker. The good news is, simple and inexpensive steps can be taken to avoid being hacked. According to a recent…  Read more

Cybersecurity tips for business owners

It’s natural for small business owners to think that they won’t be victims of cyber attacks. Most of the news surrounding hacking and data breaches involves large corporations, but that is because that’s where a high number of victims are affected. Hackers may find they have an easier time going after small businesses and start-ups that aren’t prepared for a security breach. So while they might get less information from…  Read more

Three signs you’re addicted to work

Running a small business is hard work. Entrepreneurs know they have to put in long days and give up personal time in pursuit of success. There’s a line, however, between putting in some extra time and becoming addicted to work, and it’s important to know the difference between them. Being addicted to work—sometimes referred to as being a “workaholic”—can have serious negative consequences for your personal life and your health.…  Read more

Three ways to speed up invoicing

Everyone likes making money, especially small business owners. Invoicing, however, is typically one of the tasks that small business owners like the least. Chores like creating and sending invoices get set aside for other duties that are seen as more enjoyable or even more urgent. You tell yourself you’ll get around to it tomorrow, but tomorrow becomes next week, next week becomes next month, and suddenly you realise your client…  Read more

D to the Power of 4 – Four steps to better time management

Time management skills are increasingly important in a world where people seem to rush headlong from one crisis to another. Add in the effect of social media and addictive computer games that can be accessed from anywhere at any time and it’s no wonder that some people struggle to fit everything into their days. So what can be done about it? How about invoking D to the Power of Four?…  Read more

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