Tag: Strategy

Reducing 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…

Productivity 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…

In 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…

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 +…

Ewen 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…

Small 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…

In our recent articles, we’ve discussed essential financial reports, such as income statements, balance sheets, and cashflow statements, which provide a snapshot of your business’s financial health at a given point in time. While these reports are crucial for understanding past performance, cashflow forecasting takes it a step further by offering a forward-looking view, helping…

In 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:…

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…

Regularly reviewing your financial reports is crucial for any business owner aiming for growth and success. If you’re not doing this—whether due to a busy schedule or because the reports seem confusing—it’s time to start. Here are six compelling reasons you should monitor your financials reports regularly. Which Financial Reports Should You Review? Before diving…

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…

Discover how a slight decrease in the average spend per customer can significantly impact your bakery’s profitability. In this video, Glenn analyses a case study where a bakery experienced a drop in profitability despite stable customer numbers. Learn strategies to increase per-customer spending, such as upselling and cross-selling, inspired by successful examples like McDonald’s. Implement…