Exceptional Business Advisory for Businesses in Australia
5 Ways your construction business can get paid faster
In construction, it’s a never-ending cycle of money going into and out of the business. That’s why it’s so important to keep a watchful eye on how long it takes customers to pay your invoices. We’re not talking about your payment terms. That’s a different thing. We’re...
How construction businesses can weather the ups and downs of timber shortages, torrential rain, floods and the pandemic.
https://youtu.be/EHuKO45hyqc Which Bill do I pay first? The last few years have been rocky for the construction industry. For most, there has beenunprecedented demand combined with timber shortages, incomplete deliveries, price increases, supply issues and trade...
The Quickest Way to Clean Up your Financials
The quickest way to clean up your current financials The most important aspect of a CFO's job is assisting the CEO in making informed, strategic decisions. These decisions are heavily reliant on the availability of accurate, timely, and relevant data. If the...
4 signs it’s time for your small business to outsource a CFO
4 signs it's time for your small business to outsource a CFO A CFO is employed by nearly every significant company to handle the books, provide leadership, and strategize for growth and restructuring. What about small and medium-sized firms, though? Smaller...
The business of staying in business
The Business Of Staying In Business! When putting a quote together, it's important to keep all aspects of the job in mind and include them in your quote. Things to consider Things like; vehicles, petrol, tools, parking, tolls, insurance, rent, wages, marketing, phones...
Energy Comparison: Find the best & cheapest energy provider today
Energy Comparison tool - Find the most affordable provider near you Are you paying an insane amount for your energy and gas every month? Trying to find a great energy comparison tool? Why not compare prices and find the cheapest in your area with a few simple, free...
Federal Budget 2021 – Information for business owners
Federal Budget 2021 Several significant initiatives have been announced to better benefit company taxpayers. These policies will encourage firms to invest and expand and eliminate unintended consequences and lower compliance costs. Today I am going to share some of...
Why consider a Business Health Check Now that JobKeeper has ended
Why you should consider a Business Health Check Now that JobKeeper has Ended The JobKeeper programme came to an end on March 29th. With a total cost of $101 billion over the course of the year, JobKeeper was the largest direct stimulus offered by the federal...
Struggling to reach your financial goals? Here are 4 key tips to help you understand your profit & loss statement
4 key factors that drive cash flow and profit – Profit & Loss Statement Do you ever glance at your financial statements and feel completely overwhelmed and confused? You can never fully understand your profit & loss statement? You aren’t sure what numbers to...
Bank Account theory vs Financial Statement theory: Making a profit when there’s no money in the bank?
The Bank account theory VS The Financial statement theory The number one question an accountant will get from a business owner is "how can I be making a profit" and for a good reason. As we emerge from the economic downturn, it is one of the most important questions...
Working rights and weekends
Working rights as a business owner Overworking yourself is a given when you have your own trade business. You may feel like the workload never ends. BUT every business owner, no matter how busy, deserves adequate working rights and rest! Just because...
A Business Plan: The importance of having one as a small business
The Importance of a business plan When you own a small trade business your time is mostly spent managing a bunch of tradies while also trying to put out fires and deal with the chaos that is owning your own business, for these reasons you can often put your business...
Benefits of having a CFO as a small business
Benefits of having a CFO as a small business
Are you a small business? Maybe a contractor with your own team? Let’s face it, we can’t always do it all, and when we try it can feel impossible to get everything done on time and to a quality standard.
Outsourcing is invaluable and an inexpensive, low-risk way to up your business game and delegate those tedious tasks so you as the business owner can focus on what’s really important, growing your business.
Heard of a CFO? A Chief Financial Officer is a very valuable part of any business. The right CFO can assist you in creating and formulating different strategies for optimal financial growth
CFO’s can
• Manage Risk- helping you create the right risk prevention plan and guide you on your financial controls. Always making a responsible decision.
• Negotiate with suppliers and customers – Since a CFO is a genius in all things financial and business, they can get you the best rates, terms, and conditions plus more beneficial payment methods.
• Be more strategic – Having a CFO will guarantee a strong plan/strategy around marketing, services, pricing and competition.
• Manage growth – Creating company goals is much more important than many realise. A CFO will keep you on track with your goals and can help analyse those metrics that will give you accurate insight into how your company is performing financially.
• Establish relationships – Since you now have someone by your side who is well versed in all things financial, you have the inside connection to all of the best resources and someone who is an expert in the area. Stopping you from making financial mistakes that will damage your business.
• Keep business running smoothly – As I said earlier, it can be tough being a one-man show trying to manage a large group of tradies. It can feel impossible to manage all of the financials on top of that. A CFO is a cheap alternative to handling your finances, business goals and progression. Outsourcing a CFO will definitely be beneficial to your business.
• Budgeting – Are you having issues with overspending or sticking to an achievable budget. That is what a CFO can help you nail down in a few easy steps. Budgeting is crucial for any business as overspending and losing profit can be extremely damaging.
You may think your business is too small for a CFO or you will just wait until you start making a profit. However, bringing in a CFO early on in your business journey is extremely smart as they have the best knowledge and tips on how to grow your business and finances.
Working And Studying Part-Time: Have You Considered All Your Deductions?
If you are studying part-time have you considered all your deductions? Undertaking further study is a great way to enhance your skills on the job, but on top of tuition fees, you may be facing a range of additional costs. An important rule to remember is that in...
How to increase business capacity: Growing your trades business
In order to grow a trades business, you have more people doing more work and you take your part of the money you charge out for them. Simple right? Read the article to find out more
Hiring the Right People for your Tradie Business
What to consider when you hire a new person without leaving yourself exposed to making poor decisions.
PRICE VS RISK (CHEAP TRADIES VS EXPENSIVE TRADIES)
Price Risk Price can be quite an issue and you can feel understandably pressured when someone else comes in much cheaper than you for the same job. Now, when two people or two businesses quote for the same job and come in at very different prices in my experience,...
Small Business v Big Business
There’s a lot of difference between a small and informal trade business, and a structured and systematised one. I’m Zoltan, from [email protected] and my goal is to helps people take their business from small and informal to bigger, structured and systematised,...
Not Charging Enough
How common is not charging enough Not charging enough is an easy and a common mistake. A lot of people come to me frustrated that they have cash flow issues and often they are not making what they think and they’re not charging enough. It’s an easy mistake to...
Pricing: Why it is not the main thing
I recently read a story about pricing that claims to be a true. Jim put his price up by a considerable amount and no one even blinked. I’m trying to persuade you, of course, that you can put your price up and you won’t go broke. You can still win jobs and you won’t...
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