When we offer a service we are continually living in the ‘hour-for-money’ mindset. But as a service provider it is possible to generate income in other ways. As service based providers we are basically selling our knowledge and expertise. The key to service based industries earning a passive income is to package your knowledge and […]
3 steps to increase cash flow in your business
December 7, 2011 by Leave a Comment
We would all enjoy increased cash flow in our business, right? However, this is confusing to many business owners who often have no idea of where to start. The first step to improving cash flow is to make sure you are earning the right margins on the product or service that you provide. Examine the […]
How do I overcome ‘Missing Link Syndrome’?
November 16, 2011 by 1 Comment
Every business spends money on either a bookkeeper or an accountant and in some cases, both. So, why do 87% of businesses fail because they don’t understand their numbers? This is what I call the ‘Missing Link Syndrome’. The missing link is you, the business owner. The information you are missing is what is happening […]
Why budgets in business are a must have!
November 7, 2011 by 2 Comments
Many business owners fail to set a budget and don’t consider this to be important for them. They either think they are not big enough to need one or they have one ‘in their head’. So, why is it important for every business to set a budget? A budget is the success plan for a […]
How do I set a budget?
October 26, 2011 by 1 Comment
How businesses set and follow budgets is obviously very important. Setting a budget can actually be easier than you think. You need to look at the past three years within your business and ask yourself: how did the business do in terms of revenue and expenditure? Look at trends within your business. What regular payments […]
