When you run your small business, you have a lot on your plate. That makes it tempting to let some tasks slide, especially tasks that are related to finances, which can be challenging and is often outside your preferred skill set or experience. There are some tips you can follow that keep your finances healthy […]
If you’re thinking about selling your business, the preparation should start well before you officially list it for sale. It’s a significant financial and life-altering decision that demands careful planning and a strategic mindset. To maximize your return on investment, you must comprehend what potential buyers want and enhance the appeal of your business accordingly. […]
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Tax season is stressful. You have to make sure you’ve got all your documents in order and that everything is filed on time. You also need to double check that the numbers you have are correct, and if they’re not then it can be a real headache. Given how stressful tax time can be, keeping […]
When you’re ready to take your business to the next level, you might start thinking about “scaling”. No, it’s not just a fancy term for growth, it’s about doing more with less. Scaling is about increasing your revenue without needing to proportionately increase your resources—pretty cool, right? It’s like sending an email: whether you send […]
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Marketing can feel like a daunting task for small business owners. If you’re new to the game, or maybe you’ve been in business for a while and just haven’t quite cracked the code, navigating the world of marketing can be overwhelming. But it doesn’t have to be. Your business deserves to be seen, heard, and […]
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So, we’re officially in the thick of a cost of living crisis. This presents a challenge for entrepreneurs and is a nerve-wracking time for many small business owners. If you’ve had sleepless nights worrying about how you’re going to pay your suppliers or support your staff, you’re not alone. It’s likely you’ve already looked at […]
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As a small business owner, it can be incredibly difficult to maintain a healthy work-life balance. The obligations and responsibilities of running your own business often take priority over any personal pursuits, no matter how important they may be for your overall well being. But, with the right strategies and mindset in place, it is […]
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For small businesses in today’s competitive market, outsourcing can offer a range of advantages. Not only does it reduce costs and free up valuable time for owners to focus on growing their business, but it also provides access to skills and expertise that may be unavailable in-house. By working with external professionals or firms who […]
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As a small business owner, you probably know it’s important to have an engaging website that reflects the image of your company and attracts customers. A great website can give you an edge over your competition and help you grow your business. But with so many websites out there, how do you ensure yours stands […]
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As a business owner, have you ever been caught short of cash? What if I told you that the solution to your cash flow woes might be hiding in plain sight? Yes, you heard it right. Your business may already possess the funds you need, locked up in assets, stock, or your debtors. In this […]
Every business encounters financial challenges at one point or another. But when the going gets tough, just remember that you’re not without options. One practical strategy that can help you weather the storm is asset liquidation. Asset liquidation is a process of converting your business’s tangible or intangible assets into cash, providing you with the […]
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When it comes to running a thriving business, understanding and effectively managing your working capital is crucial. Essentially, working capital is the cash readily available for the day-to-day running of operations. The more protracted the business cycle, the higher the working capital requirement tends to be. Your goal? To ensure you have enough working capital […]
Title: Understanding the Psychology of Pricing in Business The psychology of pricing is a fascinating field that combines elements of economics, marketing, and psychology to understand how pricing affects consumer behavior. It is a critical aspect of business strategy, as it can significantly influence a company’s profitability and market share. This article will delve into […]
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Assessing the viability of your new idea is an essential part of market research. While seeking input from friends and family is common, gathering information from the market itself can provide more accurate insights. Here are 4 effective research tactics to collect accurate information about your business idea: Harness the power of the internet Leverage […]
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Starting a business is a wild ride with its fair share of ups and downs. One hurdle many new entrepreneurs encounter is the difference between the profits they expected and the hard cash available at the financial year-end. This guide aims to alleviate these concerns by shedding light on where your missing revenue might be […]
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In the world of business, one constant factor you are likely to encounter is change, particularly in the financial landscape. One such change that can bear significant implications for small businesses is rising interest rates. Understanding how this impacts your business and identifying solutions to counteract these effects can be key to sustaining and growing […]
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In the business world, cash flow remains the lifeblood that keeps your operations running smoothly. Whether you’re a start-up finding your feet or a seasoned business, maintaining a steady cash flow can be quite a challenge. But a few small changes can make a world of difference to your cash flow and overall revenue. So, […]
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Creating a robust business plan is crucial to the success of any startup. It not just provides a roadmap for your business, but also helps to attract potential investors. Here’s a practical guide to help you put together your business plan. Gather Relevant Information Start by collecting all the necessary information about your business. This […]
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Xero Beautiful Business Fund applications are now open! Xero recently announced the launch of the Xero Beautiful Business Fund. Itʼs their new initiative, backing small businesses for the future. What does this mean? Xero is offering more than NZ$750,000 in funding to Xero small business customers across Australia, Canada (excluding Quebec), New Zealand, Singapore, South […]
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Even if you have outsourced your financial functions, as a small business owner, it is crucial to have a solid understanding of key financial concepts to work with your advisor and ‘speak their language”. This article outlines several important concepts that every small business owner should be familiar with. Basics of income and expenses As […]
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