Brad Callaughan has a checklist for you to tick off when employing your first employee.
“Congratulations! Your business has grown to the point where you require your first employee. Apart from finding the ideal employee, you also need to fill out some relevant paperwork and make sure the correct registration and insurances are in place.”
Brad Callaughan has some tips for business owners looking to turn their hand to property investment.
“For property investors, there’s always an element of risk about what might happen. To take full advantages of the opportunities property investment offers, you really need to overcome that fear.”
Brad Callaughan blogs about choosing the right business structure from the very beginning.
“As a general rule, you need to look at the future projection of income you expect to earn. If you’re starting a small business that contains no risk and you’re looking at not exceeding turnover of $75,000, I would be comfortable for a start-up to operate as a sole trader or partnership.”
Brad Callaughan blogs about creating a point of difference between you and your competitors.
“It could be that you promise to deliver your product or service more quickly than your competitors. If you wish to differentiate your business on this basis then offer a guarantee, to ensure you deliver.”
Brad Callaughan blogs about setting KPIs to keep track of your business success.
“Think of KPIs as your new year’s business resolution. You need to sit down and formulate a move forward, just like in a game of chess, you need to be formulating with your next move.”
Brad Callaughan delivers 5 tips to ensure your cashflow is well-managed in difficult economic times.
“You need to understand the significance of cashflow and how it keeps your operation afloat – it’s a potentially fatal mistake to focus on your profit & loss because healthy profits can mask an impending cashflow crisis.”
Brad Callaughan blogs about developing new business strategies to prepare for a potential downturn.
“In times like these, cashflow will be your biggest issue. Debtors are paying in 30 to 60 days but creditors still want their payment within 7 to 14 days. A cash flow forecast with a strong focus on collections is how to keep your head above water.”
Brad Callaughan looks at an area many small businesses fall down – planning.
“Lack of planning or direction can be the cause of your demise. If you aren’t looking at where you are going, how can you see opportunities or threats or be prepared to deal with uncertainties like cash flow or profit fluctuations.”
Brad Callaughan blogs about the benefits to small business of using Self-Managed Super Funds to purchase commercial properties.
“You can have a tax effective asset that is held safely in a SMSF, with no recourse from the bank, and pay no tax when you sell it.”
Brad Callaughan blogs about what you can take from the BRW Rich List about the foundations of wealth creation.
“Building wealth and gaining financial independence is something we all strive to achieve, but only very few accomplish.”
You have reached the end!
