Money Talk

Why did you go into Business? - Part 2

Posted by Michael Youssef on Nov 28, 2019 10:45:00 AM

In a nutshell, all businesses exist to solve problems. Why people engage with a business is because the business owner can achieve the desired result faster than the customer could achieve it themselves. 

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Topics: business, small business, new business, business growth, business structure, business success, business mistakes, mindset, Success

Why did you go into Business? - Part 1

Posted by Michael Youssef on Nov 26, 2019 11:41:00 AM

Its amazing how many times I’ve sat down with somebody and I ask, why did you go into business? And all I get are blank stares and no clear-cut responses. It’s rare that I get an answer with such conviction that it shows me why they started their business. Some of the more common responses I get are:

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Topics: business, owner, small business, new business, business growth, business success, business mistakes, mindset, Success

Re-framing the 'failure' in your business

Posted by H Youssef Accounting on Nov 7, 2019 11:15:00 AM

Ask any successful entrepreneur about their path to greatness and you’ll get the same answer: failure is an inevitable part of the journey.

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Topics: small business, business growth, business mistakes, mindset

How a “Virtual CFO” can help you grow your business

Posted by H Youssef Accounting on Oct 24, 2019 10:00:00 AM

Every business can benefit from dedicated financial management expertise, but very few small businesses have the means to hire someone full time—particularly in the lean early years.

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Topics: small business, business growth, business success, business mistakes, CFO

One third of business owners suffer from psychological distress.

Posted by H Youssef Accounting on Oct 15, 2019 9:10:00 AM

Almost one-third of small business owners report having high levels of psychological distress, Beyond Blue has revealed in a new guide targeting the mental well-being of small business owners.

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Topics: business, small business, new business, business growth, business success, business mistakes, mindset

Tips for Better Managing Contractors

Posted by H Youssef Accounting on Sep 24, 2019 10:09:00 AM

For small businesses, working with independent contractors can be a life saver.

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Topics: business, small business, tradie, relationships, business growth, business success, business mistakes, risk, contractors, processes, systems

The importance of documenting processes and systems

Posted by H Youssef Accounting on Sep 3, 2019 11:00:00 AM

Many entrepreneurs operate with their business processes and systems in their heads. They know what they need to do each day and the way they want to get things done.

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Topics: business, small business, business growth, business structure, business success, business mistakes, processes, systems

The Power of Cash-Flow Forecasts

Posted by H Youssef Accounting on Aug 29, 2019 12:13:00 PM

At some point in its lifetime, every small business suffers from cash flow problems. The trick is to think ahead and figure out when these problems are going to arise, so you don’t have to unexpectedly postpone a purchase or hurriedly seek out additional finance. This is where cash flow forecasts come in.

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Topics: business, small business, business growth, business structure, business mistakes, cloud software, cloud accounting, cash flow, profit, expenses

How to Avoid 3 Common Profit Mistakes

Posted by H Youssef Accounting on Aug 22, 2019 11:00:00 AM

What exactly is profit in a business? This article shows you how to avoid three common profit mistakes that can seriously affect the success of your business.

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Topics: money, business growth, business success, business mistakes, cash flow, profit, expenses

The Difference Between Cash-Flow & Profit

Posted by H Youssef Accounting on Aug 20, 2019 11:00:00 AM

Sales and profit are two very different things – as a business owner, you can find yourself without the cash to pay bills despite making sales you knew were profitable. You may also be startled to discover that strong cash flows from sales deliver little profit.

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Topics: finance, money, business growth, business success, business mistakes, cash flow, risk, profit, expenses