Tag: Business Advice

Most bakeries aim for a 70% gross profit margin and 30% cost of goods sold (COGS)—but many fall short without realising why. In this short video, we explore four areas that can make a big difference to your profitability: Cost of Goods – Are you reviewing supplier costs and shopping around? Product Mix – Are…

As the year draws to a close, we encourage you to reflect on your achievements, learn from your challenges, and plan for the year ahead. If you’re looking to recharge and gain fresh insights for your business, why not pick up a great business book during the holiday break? To help you get started, we’ve…

In his latest video, Glenn shares advice on running a successful bakery, starting with knowing your numbers. Discover how to track and optimise key performance indicators (KPIs) like staffing costs, cost of goods, customer flow, and average spend. Learn practical tips to reduce wastage, streamline operations, and make small changes that drive big improvements in…

In this video, Glenn discusses the importance of understanding your financial reports to improve your business results. Learn how analysing both past performance and future projections can help you track growth, identify opportunities, and make informed decisions. Discover how financial reports can guide you towards achieving your financial goals and growing your business value. The Essential SME Checklist for Growth +…

In a challenging economic climate, managing a baking business requires keen attention to key drivers and KPIs. Learn how to adapt by optimising costs, adjusting pricing strategies, and staying informed about industry changes. Discover strategies to keep your business successful and profitable even as costs rise in Glenn’s latest video. Find out more about Sharp…

Understanding your financial reports—knowing your numbers—is critical to business success. It empowers you to make better business decisions, measure their impact, take corrective actions where necessary, and ultimately achieve better results. By gaining insights into your financial reports, you can: Monitor Business Growth Determine if your business is growing or shrinking. Regular monitoring allows you…

Proving your ongoing viability is crucial in scaling a successful business to the next level. Whether applying for government subsidies, taking out a business loan or seeking investor support, you need robust financial evidence with the right financial reports to demonstrate your company’s stability and growth potential. Why Financial Reports Matter You need to present…

Your business plan is the roadmap that guides your company’s journey. It’s crucial for outlining your direction, setting goals, and securing investment. So, what should you include in your comprehensive business plan, and what key factors should you consider? Key Elements of a Business Plan A well-structured business plan typically includes: Clear Direction: Define your…

Purchasing an established business can be a strategic move, whether entering the business world for the first time or expanding your existing empire. However, buying a business is a significant decision that requires thorough research and careful planning. Before making any commitments, consider these five key questions: 1: Why Is the Business for Sale? Understanding…

In this short video, Glenn reminds you to protect yourself from phishing scams targeting your banking details. Scammers are sending fraudulent emails with links to “reset passwords” or “update details,” aiming to steal your identity or access your bank account. Remember, legitimate banks never ask for sensitive information via email links. To stay safe, never…

Every business has a finite lifespan. Some may last for decades, while others may only last a few years. As a business owner, the life of your business is likely to be strongly aligned with your own life goals and personal plans for the future. When the time comes to sell, it’s important to know…

In this video, Glenn shares how you can maximise unused concessional superannuation contributions from the past five years, provided your super balance is under $500,000. Watch to understand the strategy and steps to optimise your contributions efficiently.