Small business failure rates are alarming – or so we are told. Along every avenue of research an enthusiastic entrepreneur will take, their spark, at some point, will be doused by bold assertions: “8 Out of 10 entrepreneurs who start businesses fail within the first 18 months” (www.forbes.com). For anyone in the throes of a […]
Growing a business is a special talent, part science, part art and doing it well can be one of the most rewarding life experiences. It can also spell financial disaster from which it is very difficult to recover, when things don’t go well. In this article we discuss 5 common mistakes made by businesses. Cash Flow Cash […]
Back in the brick-and-mortar days all any upstart needed to launch a new venture was a bank loan and a bit of gumption. And while the rules of commerce and capital have remained fundamentally the same, there have been seismic shifts in the technological and marketing landscape. That means businesses have to be more forward […]
Starting a business is all about communicating the benefits of your service or product to the appropriate audience. Although fairly straight forward in principle, the complexities of executing this vary for every business. To get up and running, most service businesses begin by undertaking project based work. They tender for a job, set a price […]
Behind every start up is an aspiration to do something different. The attraction to do something different attracts fellow travellers all keen to be different and break with the boring services, products and maybe procedures of more established companies. This can be a trap for young players. Behind every successful and exciting company is a […]
The beginning and end of the year represent two extremes of the human condition. As the year draws to an end, we celebrate extravagantly and we spend. Australians are thought to have spent $8.9 billion on Christmas gifts last year. In the New Year, we redeem ourselves with healthy living – we cleanse, we detox and we […]
Setting ambitious growth targets for the new year can ensure you hit the ground running, but the effort could be wasted without the cash flow to fund them. The coming Christmas and New Year break is the perfect time for businesses to assess this year’s results and set priorities and growth targets for 2016. A […]
If you’re a business, the lifeblood of your business comes down to one thing – cash flow. If you have bottlenecks in cash flow, it makes life tougher and it can be hard to catch up. When cash flow is tight, you may feel that necessary asset purchases such as cars or equipment need to […]
Black Velvet is a Melbourne based boutique roastery and espresso bar that supplies quality beans to cafes and home baristas alike. Their second store based in the Galleria on Bourke St, which opened two months ago is already doing a roaring trade with thanks to the teams’ refocus on data and analytics to power and […]
The Commonwealth Bank has introduced a Real-time Alerts feature for their Business Transaction Accounts following a new study that revealed small businesses spend more 10 days a year managing finances. According to the survey of over 500 small business decision makers, 75 per cent of the time spent included tasks such as chasing payments, scheduling […]
