Category: Business Finances
- Boost your cashflowCashflow 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…
- Profit is not a dirty wordHistorically the word profit has sometimes been associated with greed, with a common observation being that if you focus on this (profit), you are just in it for the money. Ewen explains why this couldn’t be further from the truth, and explains exactly what profit means and how business owners should think about it in…
- Profitable products and servicesDo you know what products or services you are making money and which you are losing money on? When was the last time you did a thorough review to really get to know exactly where your business is at? Watch this short video as Ewen shares why this is so important. Notice: JavaScript is required…
- Drive Business Growth with Effective Reporting and AccountabilityAs a growing business, measuring performance and achieving growth requires a solid framework of Key Performance Indicators (KPIs). However, it’s crucial to go beyond measuring KPIs and ensure reflection, discussion, and accountability. In this article, we present a simple and effective way to link KPIs to a reporting and accountability framework, empowering your business to…
- Reasons for poor cashflow: number 6Are you in control of the spending in your business? Do you set budgets and monitor them monthly? Ewen shares why control over spending is to set budgets and monitor them monthly in this short video. We can help you trim the fat but not the muscle when it comes to reviewing your expenses.
- Profit vs CashDo you understand the difference between profit and cash? Are you improving your profits but not seeing an improvement in your bank balance? We can help you increase both your profit and your cash! There’s a massive difference between profit and cash. Ewen shares 10 ways to help you understand and make a better plan…
- Interest ratesInterest rates…it looks like the increases will keep coming, so it’s important to get on top of your cashflow and implement some interest rate strategies. Contact us if you would like to find out more.
- Balance SheetIf your sales were to drop 20-30% overnight, how confident are you that your business would survive? Ewen takes you through three main areas in your balance sheet that must be maintained to survive any downturn you might face in this short video.
- Accounts receivableEwen shares a few actions you can take to your accounts receivable to help get your cash flowing in this short video.
- Increasing your stock turn in a slow-moving economyIf you sell stock or inventory, it’s essential you understand stock turn and how to increase it. Obsolete, or ‘dead’ stock will harm your cashflow and your ability to increase profit, particularly in a slower-moving economy. The longer stock takes to sell, the longer you have your cash tied up in the stock before it…
- Reasons for poor cashflow: number 7If current sales levels can’t support your overheads and other cash demands, your business isn’t viable in its current state. Ewen explains how Sharp Accounting can help you develop a plan to increase your sales and hold you accountable to do so in this short video.
- Understanding Working CapitalCash is oxygen for your business and measuring working capital is your regular health check to keep your business alive; especially in turbulent times. Glenn explains how Sharp Accounting can identify strategies to increase your working capital in this short video.