Welcome 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…

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…

Optimising cashflow is essential for businesses, requiring a clear understanding of the pivotal difference between profit and cashflow. While profit mirrors invoiced work or goods sold, cashflow represents the tangible money in the bank. The primary challenge lies in minimising cash lockup, where funds become entangled in work in progress or outstanding invoices. Key Processes…

In the quest to optimise cash flow, sales levels—stands as a significant hurdle for many business owners. It may seem apparent, yet the impact of inadequate sales on cash flow, leading to a perpetual increase in overdrafts, cannot be overstated. To ensure the viability of your business without continual reliance on external funds, addressing this…

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 realm of business, cash flow serves as the lifeblood, but working capital acts as the health checkup vital to keep your business thriving. Regularly assessing your working capital becomes even more crucial during times of economic uncertainty. This article delves into understanding working capital, its significance, and strategies for maintaining business success. What…

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…

Have you ever found yourself in a meeting with your accountant, celebrating a surge in profits, yet still wondering where your cash has disappeared and how you’ll meet payroll the next day? If you have, you’re not alone. The stark reality is that cash and profit are not one and the same. In this article,…

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…

Do you want to increase the value of your self storage site? Ewen takes you through some practical strategies to help you put a plan into place to maximise your business value, in this two minute video. You can find out more about Sharp Accounting’s Self Storage Accounting Services here.

Are you getting bogged down with the day-to-day operations in your business rather than prioritising the strategic aspects? Glenn and Ewen share what they see often and share some advice on what you can do to change how you work in your business in this discussion.

The key to a great business is cash flow. In our latest seminar, we’ll be sharing strategies to help you manage your cash flow and successfully grow your business. On 22 November from 12-1pm, Sharp Accounting will be running our Cashflow Management Seminar. This will be held at our offices here in Ballarat. Click here to…