Category: Business Advisory
- The seventh cause of poor cashflow: boosting low salesMany businesses face the challenge of maintaining viability when sales fail to cover overheads and cash demands, leading to a perpetual increase in overdrafts. To address this issue, it’s essential to implement strategies that bolster sales effectively. Here are five key strategies to consider: Increase Customer Retention Focus on retaining existing customers by providing exceptional…
- The sixth cause of poor cashflow: tackling high overheadsIn 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…
- The Achiever MatrixAs business owners, time management is key to success. Ewen explains how using the Achiever Matrix can help you focus on what truly matters in your business in this short video.
- The fifth cause of poor cashflow – gross profit margins are too lowDiscover how optimising your gross profit margins can positively influence cashflow and bolster financial stability for your business. Uncover actionable tactics to elevate profitability and maximise returns on sales. Understanding Gross Profit Margins Your gross profit margin represents the residual amount from total sales revenue after deducting variable costs. Calculate your gross profit margin to…
- The fourth cause of poor cashflow – your debt and capital structureExplore 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…
- The third cause of poor cashflow – your inventory turnoverLearn 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…
- Step 10 of Building a Better Business: Building a Resilient Business; The Self-Care AdvantageMaintaining 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…
- Step 7 of Building a Better Business: Elevating Success through AccountabilityBreaking 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…
- Step 5 of Building a Better Business: Creating an Optimal Organisation Structure for Business SuccessAchieving 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,…
- Step 4 of Building a Better Business: Creating a Strategic Plan for Future Business GrowthWelcome 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…
- Step 3 of Building a Better Business: Defining Your Current Business Position – Warts and All for Future GrowthWelcome 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…
- Step 2 of Building a Better Business: Embrace Change and Continuous LearningWelcome to the second step in building a better business! In this phase, we focus on the transformative power of being open to change and continual learning. In our ever-evolving digital landscape, opportunities for new knowledge abound. Let’s explore why embracing a learning mindset is crucial for business success. The Curiosity of a Child Reflect…
