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Category: Business

Single Touch Payroll/STP

  • On June 24, 2019
Single Touch Payroll (STP) is a new system of reporting wages, tax and superannuation information to the ATO. Initially, large employers were required to report from 1 July 2018. Now, all employers must enter into the reporting system from 1 July 2019. Small and micro employers have until 30 September to enter the system. STP is a […]

Employing casual workforce? Follow the rules

  • On May 26, 2019
Having access to a casual workforce can be a great way for your business to manage busy periods while keeping ongoing costs low. Before you jump at the opportunity, it is important to understand the rules. With the increasing casualisation of the workforce in Australia, there is a large and accessible pool of eager workers. […]

Documenting your sales process

  • On May 16, 2019
Businesses that follow a documented sales process generate more revenue. Prospective customers should receive the same service no matter which member of your sales team they deal with. A documented sales process ensures your sales team knows the correct process to follow; providing prospective customers with a consistent experience. It’s important to include your sales […]

Is my accountant a cost or investment?

  • On May 9, 2019
Accountants tell their clients to reduce their overhead costs as one of the seven ways to grow your business. One of your overhead costs is your accounting fees. So, is what you spend with your accountant an expense which needs to be reduced, or is it an investment? An expense is a necessary evil. It […]

What is employee engagement and why does it matter?

  • On May 2, 2019
An engaged employee is a team member who is fully absorbed by and enthusiastic about their work, and who takes positive action to further a company’s reputation and interests and achieve their goals. More importantly, what does a disengaged team member look like? The symptoms range from a negative attitude, poor communication, absenteeism, lack of […]

Profit Vs Cash

  • On April 28, 2019
There’s a massive difference between profit and cash. Let’s explore the differences to make a better plan to increase both. 1. Sales. Profit increases when you increase sales; cash increases when you collect the money from customers. To increase both your profit and cash from sales: Delight your customers Generate more leads and referrals Convert […]

Make your business more profitable

  • On April 21, 2019
Making a profit isn’t something that happens overnight – to create a good return from your business you need a clear focus and a well thought-out strategy for increasing profitability. This means reviewing your business model and looking at every area of the business, to see where you can cut costs, increase margins and maximise […]

What’s the point of market research?

  • On March 28, 2019
A successful small business needs to have customers making purchases, ideally over and over again. You can make that an easy decision for them, by finding out (and providing) precisely what they need. Market research is the way to do that. It will help you ensure that your product or service meets your target customers’ […]

Are you a slave to your business?

  • On March 10, 2019
Your business is there to serve you; not the other way around. In other words; you should never be a slave to your business. Being a slave implies a victim mentality – that the world has simply dealt you a bad hand, that you have no say in the matter. Perhaps you hear yourself thinking […]

6 Ways to Measure health of Business – Financial Ratios

  • On February 27, 2019
When you’re running a business, it’s easy to get caught up in the day-to-day activity and lose sight of the big picture. Taking stock of the health of your business is important. Financial ratios can help in Analysing trends, Knowing where you allow for more effective planning, early warning about any issues, and the chance […]