Tag: business planning
- Case Study: How Monthly Financial Reporting and Accountability Turned Around a Business’s PerformanceFor the last couple of months, our focus has been on the power of regular accountability meetings and monthly financial reporting and how businesses can use them to achieve better financial outcomes. We wanted to share the details of how we helped a client improve their performance using these strategies. One of our bakery clients,…
- Increase Your Business Profits by Cutting Variable CostsReducing variable costs is a powerful way to elevate your business profitability. These costs fluctuate with production levels, so effectively managing them can directly impact your bottom line. Whether you’re aiming to improve cash flow or increase profit margins, focusing on lowering variable expenses is key to sustaining growth, particularly if your gross profit margin…
- Why Productivity Matters and What You Can Do About ItProductivity is often associated with strong economies, thriving businesses, and the efficiency of skilled workers. If more businesses were productive, we’d likely see fewer failures, higher employment, and better incomes for both owners and employees. According to the Xero Small Business Insights 2023: Industry and Regional Trends report, wholesale trade was the most productive industry…
- Assessing Business Viability Through Key Financial ReportsIn this video, Glenn explains how preparing and understanding key financial reports—such as profit and loss statements, balance sheets, business plans, and cash flow forecasts—can determine the viability of your business. He highlights the importance of these reports for lenders, investors, and government bodies when assessing your business for loans, investments, or grants. Learn how…
- Understanding Financial Reports: Maximising Your Business GrowthIn 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 +…
- Spring 2024 Self Storage Update: Trends and Tips for Business GrowthEwen shares the latest insights on the self-storage industry for spring 2024. Discover key trends, including increasing demand and rising rental rates, and get expert tips on reviewing pricing strategies, maximising occupancy, and managing key business costs.. Learn how expanding your facility could help offset rising expenses and boost profitability. The specialist team at Sharp…
- 10 Effective Ways to Improve Your Business MarginSmall changes can significantly improve your business performance. Even slight adjustments to your processes or systems can majorly impact your profit margins. For example, a 1% increase in your gross margin on $500,000 of sales adds an extra $5,000 to your bottom line without increasing sales. The best part? Boosting your margins is one of…
- Why Financial Literacy is Key to Business SuccessUnderstanding your financial reports is crucial to improving your business performance. In this video, Ewen outlines four key reports—profit and loss, balance sheet, accounts receivable, and accounts payable—and explains how monitoring them can enhance cash flow, build stronger supplier relationships, and inform better decision-making. If you’d like a financial review of your business, reach out…
- Sharpen Your Numbers – FAQ: There is not a lot of money in bank, what am I doing wrong in my business?If you’re seeing a low bank balance, it might not be about what you’re doing wrong but where your money is tied up. In this video, Ewen shares tips on assessing your sales, accounts receivable, stock levels, and accounts payable. Discover how these factors impact your cash flow and what you can do to improve…
- Seven Keys to Running a Successful Self-Storage Business in 2024In Ewen’s latest self-storage industry video, discover the essential strategies for running a successful self-storage business in 2024. Learn about: Customer Service: How to exceed expectations and encourage referrals.Gathering Feedback: The importance of reviews and testimonials.Site Selection: Choosing the right location based on demographics.Expense Control: Identifying and managing essential vs. non-essential costs.Site Security: Implementing effective…
- Navigating Profitability in the Baking Industry During Economic TighteningIn 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 Numbers to Improve Your ResultsUnderstanding 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…