Regardless of the successes your business achieved in 2016, a ‘financial detox’ is an invaluable opportunity to take things to the next level this year. Like a personal detox, a business cleanse is focused on boosting energy levels and performance. Specifically, it’s all about understanding your financial vulnerabilities and cash flow pressures and creating a foundation to fund […]
Most seasoned entrepreneurs would tell you that losing money is part of business. And what matters more is how you rise up from that setback. As renowned money guru Robert Kiyosaki said: “Don’t waste a good mistake… learn from it.” With that said, it is wise to learn not just from your own mistakes, but […]
Cashflow is the lifeblood of any business and more SMBs have been destroyed through cashflow issues than from any other cause. The last thing you need is to be stressing about whether you have enough cash to pay your own suppliers when you should be running your business. So, you’re not ready to hire an […]
Most, if not all, self-funded entrepreneurs understand the challenges that go hand in hand with starting a business in today’s competitive start-up environment. For those that choose the self-funding route, the stress factor can go through the roof if you’re unprepared. At the same time, the benefits of self-funding can far surpass the challenges – […]
Choosing a business structure is, well, tricky business. If you are thinking of starting a business, you should first weigh up the pros and cons of each business structure to figure out which one best suits your needs. This is an important step that shouldn’t be overlooked because it affects many aspects of your business […]
Powered by an entrepreneurial engine, start-ups pursue rapid growth off the back of a product or service with a large potential customer base. While a start-up’s offering may be innovative, disruptive even, plans for growth could be derailed if inexperience at negotiation prevents them from, say, locking in those first crucial investors or clients. Here’s how your start-up can negotiate like a pro: Know […]
Two in five SME owners either operate multiple businesses or plan to, according to new research from MYOB with Tim Reed, the cloud accounting provider’s CEO, declaring “the great Australian entrepreneurial spirit is alive and well.” Findings from MYOB’s latest SME Snapshot – a survey of 589 business owners – indicate that a quarter of […]
You’ve heard the saying: “you don’t know what you don’t know.” Most people are happy to accept that proposition because whilst ignorance isn’t always bliss, people tend to avoid risk and thus the danger won’t be immediate. Launching a start-up means rushing into the high-end of the risk zone where even minor trip-ups can have a significant impact on your potential […]
New technologies continue to launch in the blink of an eye meaning it isn’t always easy for business leaders to discern which will and won’t advantage their organisation. To help you identify the best tech bets for 2017, here are five guiding principles. 1. Spot the exponential curves and work out the customer value proposition within them Disruption by low-cost competitors […]
When people think about being their own boss, there’s often the misconception that you can wake up in the afternoon, sit around in your PJs all day, whilst drinking coffee and working in front of the TV. If you think this is true, then think again. Becoming your own boss can be one of the […]
