Hi there fellow business owners, Struggling with cash flow in your business? You’re not alone.Many business owners experience the stress of having more money going out than coming in. But the good news is—there are practical steps you can take to improve it. In a recent video, Mick from Ignition Accountants breaks down six key …
Hi there fellow business owners, As business owners, it’s tempting to use discounts to attract customers and drive quick sales. After all, everyone loves a good deal, right? While discounts can give your revenue a short-term boost, they often come with hidden risks that can impact your profit margins and cash flow. So, are discounts …
Are Discounts Really the Best Way to Boost Sales? Read More »
Hi there fellow business owners, Have you ever wondered why your business struggles with cash flow, despite making a profit? In a recent webinar, I broke down the Business 101 Cash Flow Cycle to help you identify the key factors impacting your cash and profit. Here are three crucial insights: 1️⃣ Invest Wisely: Business assets …
Struggling with Cash Flow? Here’s How to Take Control Read More »
Hi there fellow business owners, I recently hosted a webinar on a crucial topic for all business owners: protecting your business assets. I wanted to share a few key takeaways that will help safeguard both your personal and business finances. Here are some essential steps to consider: Establish a Company Structure: Set up your business …
Hi there fellow business owners, Today, I’m sharing a quick video on the importance of understanding the difference between profit and cash flow in your business. These insights come from a recent webinar I hosted—let’s dive in. Turnover is Vanity, Profit is Sanity, and Cash Flow is Reality One of my favorite sayings in business …
Understanding the Difference Between Profit and Cash Flow Read More »
Hi there fellow business owners, Today, I want to share some insights on the importance of understanding the cash flow cycle in your business. This concept is crucial for maintaining financial health and ensuring your business runs smoothly. The Business 101 Cycle Let’s start with the Business 101 Cycle, a fundamental concept I recently …
Hi there fellow business owners, I want to share a quick video to help you improve the cash flow in your business. One of the main causes of poor cash flow relates to how and when money is spent in your business—specifically, the accounts payable process. 1. Set Spending Budgets The first thing every business …
Hi there fellow business owners, Today, I’m sharing a quick video about the importance of knowing and understanding how to read the balance sheet in your business. This is crucial for assessing your business’s financial health. What is a Balance Sheet? Also known as a statement of financial position, the balance sheet provides a snapshot …
Understanding and Improving Your Business’s Balance Sheet Read More »
Hi there fellow business owners, Today, I’m sharing a quick video about the importance of knowing the profit and loss (P&L) in your business. This is crucial for tracking your overall business performance. What is a Profit and Loss Statement? Your profit and loss statement shows all your earnings and costs over the year, providing …
Understanding Your Profit and Loss Statement: A Key to Business Valuation Read More »
Hi there fellow business owners, I want to talk about the importance of understanding the numbers in your business’s trading account. This concept is vital for assessing your business’s performance and identifying areas for improvement. Understanding the Trading Account The trading account is crucial as it tracks your sales, variable costs, and gross profit. It …
Mastering Your Trading Account: A Key to Business Profitability Read More »
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