Explore tips to manage your small business finance straight from accountants, business advisors, and fellow business owners. Learn more about cash flow management!
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Share trading is one of the most popular ways to build wealth, but there can be a lot of issues if you don’t go about it the right way. Josh was joined by Louise Bedford from The Trading Game to discuss everything that has to do with share trading in Australia.
Restructuring, cash flow, and working capital can be a very confusing aspect of doing business, and it’s normal to feel overwhelmed. Josh was joined by Andrew Weatherley from WCT Advisory about these important business factors, and more. (more…)
We all need money in business to survive, and Aimee LaLiberte from My Virtual CFO joined Josh to talk about what a money mindset is, how to change your money mindset, and making sure that you are healthy with the way that you’re thinking about earning money. (more…)
There is a gap in many businesses and that’s cash flow forecasting. It’s too expensive not to have good cash flow so we asked Louise Delaney from Cash Flows For You to share tips on how to have better cash flow in business, keep good records of that, and make sure you know where you’re going.
Statistics have shown that every resolution set this year will be about health or money. Deciding to have a fresh start with your money will bring excitement and optimism. If you are a business owner who is currently managing a business and considering to invest your money into something profitable, it’s wise to take a good look at the days ahead and consider planning to achieve your goals. Working on your finances might be stressful, but technology will definitely help you with your financial management, so the best thing to do is to keep your system up to date and your finances in perspective. In this episode, Tracey Bissett shares her strategies to help you avoid financial blunders.
The financial crisis in business can be very challenging to deal with and navigate. Several companies have found themselves suddenly forced out of business due to liquidity problems. For business owners, it doesn’t matter how many times they try to prevent this kind of situation—it will pop up periodically due to the changes happening in the market. Businesses are seeing rough spots due to broad market factors, such as excessive debt, overpriced assets, poor financial system and other issues. When you have been building a business or managing one for a while, you have to be prepared and equipped for this kind of situation. You should be aware that the financial crisis occurs in particular industries or even in confined companies due to limiting factors. In this episode, Justine Lalla shares what to do best during a financial downturn.
Are your products overpriced? Does your service cost too much or too little? Most entrepreneurs will have that problem with pricing. How do we set our prices or rates? Is it what would cost us plus a percentage or do we look into the wilderness to see what our competitors have in there? Perhaps there’s a formula to doing it right. Courtney Deagon, pricing expert and the CEO of Court & Co Value Group Pty Ltd, shares with us some great tips on setting the prices of our products or the rates of our services.
On this episode of Business Built Freedom, Josh is joined by guest Drue Schofield from 4Front to discuss the importance of professional accounting services in various industries. Drue emphasizes the need for properly evaluating intangible services, such as financial advisers and IT professionals, to ensure clients are getting the best value. They share a personal experience highlighting the importance of transparent and fair pricing.
Our special guest in this episode is Paul from No BNK, a non-bank business and commercial finance solutionist. Paul is a wizard when it comes to looking at a different way that you can do finance, which is especially critical in today’s financial climate. He has been involved in nonbank lending for around about 16 years but he has never ever put anybody in a loan with the bank. He explained, ‘If I want to borrow money from you, why do I have to go to a bank to do that? You put your money in the bank and then I go and borrow the money from the bank. That’s your money that’s in the bank. That’s not theirs. So why not just borrow directly from you? No BNK is set up where we facilitate accurate information between somebody who wants to borrow money and someone who wants to lend it.’ Listen to the podcast or read on to learn more about No BNK.
We all love money, but most don’t really love cash flow management stuff. Despite being a pain, ultimately cash flow management will give you more money. In no particular order below we will go through 10 fantastic tips around how you can have better cash flow management in your business.
How to Avoid the Biggest Cash Flow Mistake That Can Put a Company Out of Business
Business is all about managing risk and making tactical decisions. As a business owner, you are well aware that your decisions will have an impact on your finances. Handling both the running of the company and its finance is no walk in the park. Both these jobs require full attention. Yet, in spite of their best efforts, most new companies fold because they were unable to handle their cash flow judiciously. At this stage, it would be advisable to know about common cash flow management mistakes that can put a company out of business. Knowing about these mistakes will help you avoid them.
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