There is a reason why cash flow projections sometimes don’t work for a business. So what are the actions that can contribute to a failure?
We are going to answer that one at the end of this topic so first, let us review how developing a cash flow projection or forecast can benefit a business such as yours. We will...
Every successful business needs regular access to financial information and to non-financial performance data that drives the business’ results.
My Business Manager automates these processes and makes it easier to be aware of how the business is performing and whether there are any potential problems that need early attention before they affect the business and the profits. In most businesses,...
A Cash flow forecast is similar to a financial statement but as the name suggests, it is a forecast of your business’ future cash flow capabilities. It can assist you and your team to determine whether or not your business is ready to proceed with any financial commitment for the business. (more…)
The Accounting industry has changed its focus considerably over the last few years. As a result, large companies have started offering accounting services to smaller SMEs and software companies have been producing accounting software packages to make it easier for people and businesses to do their own bookkeeping and preliminary accounting services. (more…)
Accounting firms has declined according to a report from IBISWorld (a research firm). This comes after half a decade of declining industry activity following the recession and stumbling economic recovery resulting in medium-sized firms shrinking or merging with others and causing several smaller firms to stop operating. (more…)
What are retainers? One of the biggest concerns for any firm is assuring a stable cash flow. One way to get regular assignments and have a predictable flow of income is to set up retainer based services. Flat fees and hourly rates may be the staple of the industry but do retainers really work for accountants? (more…)
Every day, I hear small business owners excitedly talking about the sales they've made. I too feel excited for them because sales are a critical component of being successful.But I also can't help thinking "but have you been paid yet?" I hate to break it to you but a sale is not a sale unless you've been paid. (more…)
Do you find it impossible or difficult to ask for help? Do you worry that, by asking questions, you'll look incompetent, uninformed, maybe even stupid? Problem is, if you don't ask questions, your worst fears will eventually be realised. (more…)
How often do you hear that, particularly from those whose livelihoods and success depend on their ability to sell? Is selling a chore for you, or is it an absolute joy to be spruiking your products or services? If it's a joy, you should do well; your enthusiasm infectious. If it's a chore, trust me, your potential customers will...
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