Tag: business growth

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 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…

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…

The seventh key to expanding your business involves reducing overhead costs. These are the fixed expenses in your business that remain relatively constant as your sales grow, such as phone bills, electricity, rent, and interest payments. How frequently do you reassess your overheads? It’s advisable to conduct this evaluation at least once a year. Simply…

The first three ways to grow your business are about enhancing customer retention, amplifying lead generation and boosting sales conversion rates. Ewen takes you through how each of these helps you grow your business in this short video, and we’ll be going into more detail at our October seminar. On 11 October from 12-1pm, Sharp…

In the pursuit of business growth, one highly effective strategy is to inspire your customers to increase transaction value by elevating their spending with each purchase. To achieve this, it’s essential to develop approaches that enhance the value of transactions without solely relying on price hikes. Here are several proven methods that can help boost…

Discover how to elevate your business by encouraging more frequent customer interactions. Explore proven strategies to increase transaction frequency, emphasising the value of existing customer relationships. Implement effective practices, create a system, and train your team for successful execution. Learn key tactics for increasing transaction frequency: Select a tailored set of strategies that align with…

Learn how to elevate your business by enhancing your prospects-to-sales conversion. This tactic is vital for all enterprises, especially those frequently engaged in proposals and quotes. Measurable insights are manageable assets. Begin by calculating your past quarter’s sales conversion rate. Divide converted quotes by the total prepared quotes. Example: 85 sales from 156 quotes =…