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Why Businesses don’t ‘plan to fail’ they just ‘fail to plan’

Posted on October 12, 2016 by Sue Hirst

Many Businesses don’t ‘plan to fail’ they just ‘fail to plan’.

There is an old saying “If you aim at nothing you will hit the target with amazing accuracy”.  If you want to improve the results in your business then you need a target to aim for and a system for monitoring progress.

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Posted in business plans

2 KEY DRIVERS TO BETTER RESULTS IN YOUR BUSINESS

Posted on May 20, 2016 by Sue Hirst

One of the most vital numbers to know in order to make a profit is your ‘Break-even’ sales point.  Obviously your objective in business is not to ‘break-even’, however this is a great place to start avoiding losses and make profit.

In a ‘service based’ business, if what you have to sell is time and materials, you need to maximise the amount of each you have to sell to achieve your desired profit margin.

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Posted in Maximising sales, profit and cash, Business

Boosting your bottom line from the bottom up

Posted on March 1, 2016 by Sue Hirst

Selling more of the same stuff to the same people doesn’t always deliver a profit.  Consider boosting your profit by analysing which of your products and services are the most profitable, or which ones can be made more profitable.

To do this you need to have good reporting systems in place, so that you can measure the gross profit on different products and services.  Once you know this, you can then decide which ones are worthwhile expending resources on to maximize your overall gross and net profit.

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Posted in Maximising sales, profit and cash, Business

How More Sales Can Cause Cash Flow Problems

Posted on March 1, 2016 by Sue Hirst

The age-old question accountants get asked by business clients is “How come I’ve made more profit but I don’t have anymore cash?”

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Posted in Maximising sales, profit and cash, Business

It’s a New Financial Year in new zealand – It’s time to Measure, Manage and Improve

Posted on February 24, 2016 by Sue Hirst

 

Starting a business is sometimes like jumping off a cliff and building a plane on the way down…

Here’s how to build it before you jump!

If you’ve got a dream of running your own business one day, or you’ve already taken the step of starting it, one of the critical issues that often gets ignored is the financial side.  Often people think “Everything will be OK... so long as we sell lots of stuff”.  They think “This stuff we’ve created is fantastic… how could people not want to rush to buy it?”

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Posted in Maximising sales, profit and cash, Business

The Upside of a Downturn

Posted on February 15, 2016 by Sue Hirst

If you can ‘keep your cool’ when all around is panic and mayhem you could set up your business for not just survival, but greater profit and cashflow when things improve. It’s all over the news that business and consumer confidence is low and that Australia and other western economies are having tough times. Money is tight and many business sales are falling. This is not good news for small to medium enterprises, but it can present a chance to take stock and even get the ‘edge’ over competitors who don’t treat the situation as an opportunity.

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Posted in Maximising sales, profit and cash, Business

Starting a business is like jumping off a cliff and building a plane on the way down…

Posted on February 9, 2016 by Sue Hirst

 

Starting a business is sometimes like jumping off a cliff and building a plane on the way down…

Here’s how to build it before you jump!

If you’ve got a dream of running your own business one day, or you’ve already taken the step of starting it, one of the critical issues that often gets ignored is the financial side.  Often people think “Everything will be OK... so long as we sell lots of stuff”.  They think “This stuff we’ve created is fantastic… how could people not want to rush to buy it?”

Read More

Posted in Maximising sales, profit and cash, Business

5 Tips to protect your business against volatility in 2016

Posted on February 3, 2016 by Sue Hirst

Most successful business people I’ve spoken with, believe 2016 will be tough for some business sectors.  We’ve heard about the two speed economy– meaning mining related businesses and the rest.  Whatever sector you’re in, it pays to recognize and mitigate risks and capitalise on opportunities.

 

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Posted in Maximising sales, profit and cash, Business

Using Numbers to Grow Sales, Profit and Cash

Posted on January 21, 2016 by Sue Hirst

Most business owners seeking improvement are looking for business growth plans and strategies, and all kinds of small business growth advice is available.  It’s important to focus on the product/service that you sell and the market for it.  What’s also vital to understand is the impact of the numbers in your business.  The numbers that guide you to the desired outcome i.e. sustainability, profit, good cash-flow and business value improvement.

 

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Posted in kpi

Why Profitable Businesses Can Go Bust!

Posted on January 15, 2016 by Sue Hirst

If a business is selling plenty of products or services and buying labour and parts at the right price how is it possible for it to go bust?

Cash is more often than not the reason why so many businesses fail.  Profits can’t be spent until they are collected. Obviously it’s important to sell at the right price and create the maximum amount of both gross profit and net profit.  If you don’t focus on collection though you’re business won’t last very long.  Cash is the lifeblood of any business, and if it isn’t flowing at the right place at the right time, this can cause real headaches for the business owner.

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Posted in Business Valuation and Exit