Author: Ewen Fletcher

In times of economic uncertainty, small businesses face heightened vulnerability. Despite sluggish sales, overhead costs and payroll obligations persist, necessitating proactive measures to ensure financial resilience and sustained growth will help strengthen cashflow in your business. Plan Ahead and Take Proactive Measures: Anticipate upcoming expenses and assess potential revenue shortfalls. Initiate discussions with suppliers or…

In 2019, the soon-to-be owners of a substantial five-acre property in regional Victoria sought the expertise of Ewen Fletcher at Sharp Accounting to navigate the complexities of a greenfield self storage development. Although adept in business operations, the clients were newcomers to the self storage industry and relied on Sharp Accounting to play a pivotal…

In business, accounts receivable stands as a cornerstone for financial stability. It’s the lifeblood that ensures you get paid for the hard work you put in. But mastering this process requires more than just sending out invoices and crossing your fingers. It demands a well-thought-out strategy that covers every aspect of the payment lifecycle –…

In the journey of managing a business, one critical aspect often overlooked is overheads, which can significantly impact cashflow. While business owners tend to be vigilant about expenses, the growth of a company can sometimes lead to increased layers of management and operational inefficiencies. Regular assessment of overheads is crucial for financial health. Here’s a…

As business owners, our days are filled with competing priorities and unexpected challenges. The key to staying ahead? Focusing on the tasks that drive long-term success. The Achiever Matrix is a simple tool that helps identify where your time is best spent. Instead of constantly putting out fires (urgent but not strategic), aim to work…

Explore how assessing your debt and capital structure can lead to reduced interest charges and significant cashflow improvements for your business. Discover actionable strategies to consolidate debt, optimise capital injections, and manage personal expenses to alleviate cashflow pressure. Debt Assessment Begin by compiling a comprehensive list of existing debts, including bank loans, mortgages, finance company…

Explore how your accounts payable process can impact cashflow and financial stability for your business. Learn about the importance of reviewing Terms of Trade and implementing spending budgets to manage cash outflows effectively. Spending Budgets Establish yearly budgets to regulate spending and ensure alignment with financial goals. Control spending by monitoring department budgets and authorisations…

Ewen shares an update on the self storage industry’s trends over the past 12 months, including lower occupancy rates and increased revenue, as well as his predictions for the next year in this brief video. If you’re looking to prepare your self storage business for the upcoming year, don’t hesitate to reach out – Ewen…

Maintaining a full “well of happiness” is not just a luxury; it’s a crucial aspect of sustainable business success. Similar to the airline safety instruction to secure your oxygen mask before assisting others, you must prioritise your well-being continuously in business. Consider the activities that replenish your well-being – those that revive your energy and…

Referrals are a powerful means of securing new business, and one effective way to generate them is by building strong networks. Networking and referrals offer a cost-effective strategy for business growth, with a potentially significant return on investment. Here are five ways to maximise referrals from your networks: Calculate the Lifetime Value of a New…

Elevating your leadership skills and fostering a robust workplace culture is pivotal for building a better business. A toxic workplace can hinder productivity, making it crucial to assess and enhance your organisational environment. Spotting Toxicity: Signs Your Workplace May Need Attention Lack of Trust: Is there a noticeable divide between owners and the team, fostering…

Welcome to Step 4 of our comprehensive series on building a better business. Now that you’ve defined your business aspirations, it’s time to forge a clear path towards achieving them. Let’s delve into the critical step of making a strategic plan to guide your business toward future growth. Define Personal Business Goals: Start by aligning…