How To Stop Flipping Burgers
Good solid businesses value recurring revenue, in fact, it’s usually the most important element when a business is valued for sale or listed on the ASX. Predictable revenue allows you to better predict growth and control associated costs. It allows you to benefit from scale. Startups all know this, it’s the basis of all […]
Get The Numbers Right Before You Turn Up The Heat
The more time I spend working with growing businesses, the more I see that the biggest success factor is usually sales. I know that’s stating the obvious but there is a bit more to it. When you see different tactics applied across a number of businesses you get to see some patterns. So what works? […]
Managing A Business With Very Different Revenue Streams
It’s hard to manage a business that provides consulting services, but even more so if consulting is not your only income stream. A lot of businesses offer specialised consulting services on top of their normal income streams, particularly if they offer bundled services. For your clients that don’t fit a package you can offer bespoke […]
Fixed Price Projects Can Be Exhausting
When you hear any combination of the following be very careful. “But that’s what we had to bid to win the work” “There is no point in keeping track of our hours because it’s all fixed fees” “We’ve had a few projects with problems lately” “It takes a while for people to get up to […]
There Should Never Be 3 Fortnights In A Month
If you think that time went fast over the weekend try fitting 6 weeks into a month. We have all seen management accounts that do that because….. well… because unless you have been shown how it should be done you have no way of knowing. No one’s fault but it really stuffs up management accounts. […]
Are The Walls Closing In?
From the (Urban Dictionary): In contrast to what you might think about a claustrophobic reference, the “walls are closing in” actually means that someone was home for so long that they start coming up with dumb ideas. This usually happens when students are unemployed over winter break/summer or when adults are on medical disability. The absence of sunlight into […]
What The Hell Should You Do? You Need A Model
I’ve been talking to lots of business owners in the past week and one thing is crystal clear. After they have taken steps to make sure all their people are safe and feel supported. Big shout out to Tom @ LW – great response. The one thing that everyone is trying to work out is […]
What Happens If Your Payroll Person Gets Sick?
Payroll has to be done on time, every time, no matter what. If you have someone in-house doing payroll, even if that person is you, what happens if they get sick? We’ve started a payroll service. It’s run by payroll experts, uses reliable cloud based systems, and has redundancy built in to cope with emergencies. […]
Do You Really Need An Office?
There are some great businesses with no office, or with a semi-distributed working model. I’ve been having many conversations about this, like all of us I guess, and, maybe this is one of the silver linings from this whole, horrible situation. It always takes a while for social change, but some people have been working […]
What Happens When A Business Runs Out Of Cash
A business running out of cash is like a boat running aground. If you’re passionate about either, seeing it will bring you close to tears. The reason both are so sad is because you know this is often the end of dreams, and hope, and untold hours of hard work. If you are onboard it […]