Author: Glenn Sharp

Recent news highlights the prosecution of self-managed super fund promoters by ASIC, marking a crucial step in safeguarding unsophisticated investors from fraudulent schemes. These promoters targeted individuals unaware of their deceptive practices, promising lucrative returns while misappropriating funds for personal gain. In one case, investors lost a staggering $25 million to a cryptocurrency investment scam,…

In recent news, there’s been significant discussion surrounding the stage three tax cuts, particularly with the Labor government’s decision to modify them. Originally intended to address bracket creep for individuals earning up to $200,000, these tax cuts were agreed upon by both sides. However, the proposed adjustments by the Labor government aim to allocate these…

Learn how optimising your inventory turnover can alleviate cashflow challenges and enhance financial stability for your business. Explore actionable strategies to convert stock into cash faster and improve overall profitability. Learn why inventory turnover is important here. Understanding Inventory Turnover Calculate your inventory turnover by dividing your cost of sales by your average inventory or…

When it comes to business, profit and cash flow are not one and the same. While profit reflects the revenue generated from your work or sales, cashflow is the actual money flowing in and out of your bank account. One of the primary culprits of poor cashflow is what we call “cash lockup.” Cash lockup…

Just as you keep a close eye on your dashboard while driving, your business should have its own set of essential metrics to regularly monitor business progress. Creating a business dashboard involves a simple four-step process: Choose Impactful Key Performance Indicators (KPIs) Identify three to five KPIs that hold significant influence over your goal achievement.…

Breaking the cycle of unmet resolutions requires more than good intentions—it demands accountability. With approximately 80% of New Year’s resolutions faltering, securing someone to hold you to account becomes paramount for achieving your business goals. The key to completing committed actions lies in granting someone the authority to follow up persistently. Whether it’s a personal…

Achieving peak efficiency and unlocking economies of scale within your business largely hinges on having the right organisational structure. This step can significantly enhance your bottom-line returns, outpacing mere revenue growth. A well-designed structure should foster revenue increase without creating operational bottlenecks and creating the optimal organisation. Your organisational blueprint should be a comprehensive guide,…

Welcome to the third step in our series on building a better business. In this crucial phase, we delve into the often underestimated task of understanding where your business stands today—warts and all. Without a clear grasp of your current realities, the road to success remains obscure. Let’s dive into the essential questions that will…

In the journey of building a better business, the first crucial step is to define what success looks like for you. Your business should serve you, not the other way around. Let’s explore how to crystallise your vision for a thriving business that aligns with your passions and values. Clarify Your Vision To create a…

Business owners often prioritise profit and cost reduction, but it’s essential not to overlook the significance of your Balance Sheet. Even profitable businesses can face financial challenges, making your Balance Sheet a crucial indicator of your business’s solvency. Here, we explore four critical areas to focus on within your Balance Sheet for lasting success. Profitability…

In the world of business, maintaining a healthy cash flow is essential, and one key factor in achieving this is effectively managing your debt collection. But how do you measure and improve debtor days? What Are Debtor Days? Debtor days refer to the average time it takes for your customers to settle their invoices. While…

Cashflow is vital for your business’s health and can often be a source of stress. To boost your cashflow, consider these 10 straightforward tactics: Set Clear Terms of Trade Establish clear Terms of Trade for every project. Define your invoicing procedures, expected payment timeline, and consequences for late or non-payment. Offer Payment Options Explore payment…