Mental wealth
Expert Advice
According to a survey conducted by Discover Financial Services in 2008, lack of cash flow is a major problem for nearly 44 percent of all small businesses. While it is only natural for a business to experience fluctuations in income, generating sustainable cash flow is perhaps the only way to remain afloat. The irony of the situation is that a...
Five simple things you should be doing to improve your online security
Cyber Security
Most of us are regularly exchanging data over networks with organisations, people and devices. With cyber-attacks becoming more common, strategic and methodologically diverse, I'm amazed by how many people take their online security for granted and don't implement some very basic cyber security controls. The following are a few simple steps to increase your cyber security. 1. Use a password...
Customers and cash flow
Cash Flow Solutions
The challenge of late paying customers is one that every business has to deal with at some stage. Typically, there are four types, so read on if you want to find out who you could be dealing with. 1. In their own time The chronic late paying client can be an ongoing challenge. Often it's the big corporations or government...
Skills in demand for the Fourth Industrial Revolution – are you job-ready?
Recruitment
The digital and technological divide between jobseekers' skills and employers' requirements has never been greater than it is today as we approach the Fourth Industrial Revolution. Of the new jobs added to our April to June Hays Quarterly Report of skills in demand, almost all require the knowledge and capabilities needed to utilise new emerging technologies and digital trends, from...
Preparing to sell your business
Business Law
There will come a point when a business owner wishes to realise their investment. Whether for personal or financial reasons there are steps all owners can take to prepare their business for sale; to minimise tax, transactional costs and stress, and maximise the return. Grooming your business for sale can streamline the sale process. Even if the sale doesn't proceed,...
Time for a change: accounts health check tools for not-for-profit organisations
Bookkeeping
The Not for Profits (NFP) sector in Australia is considered diverse and large (approximately 600,000 NFPs in 2010 per the Productivity Commission report), contributing to annual revenue over $100 Billion and representing 8% of the Australia's workforce (ABS, 2016). With the chief goal of achieving missions beneficial to the public, NFPs are expected to meet a higher standard of public...
Ransomware and small business
Cyber Security
Small and medium-sized businesses (SMBs) make up 60% of the nation's cybercrime victims, and it's not hard to see why. SMBs are often unaware of the threats they face and are not sure how to defend themselves without spending a fortune. Unfortunately, these factors make them very likely victims of ransomware. Ransomware is a type of unwanted software that can...
Listing an investment property: essential tips every landlord should know
Property
1. Understanding your rights and obligations The legislation governing rights and obligations varies for each state in Australia. Including everything from bond, rent collection, lease length and the rights and obligations of owners and tenants under the tenancy agreements. The big issue for landlords in Canberra is safety. It is vital that a landlord ensures the safety of their property....
Buying off the plan
Property
I'm sure you will agree that Canberra has experienced a boon of new apartment developments in the past few years. You don't have to cast your gaze too far to see that this trend is not going to change much in the coming years. With substantial development of the Northbourne corridor combined with the significant precincts marked for further supply...
Self – Mastery and Mindfulness
Expert Advice
There is no shame in seeking 'wise Counsel' as humans we are meant to be tribal. In today's world, there is much disconnection between humans. We are not getting the Touch, Feel, Eye to Eye, contact with each other that we need. These are just a few senses that instil positive human feelings, resulting in clearer decision making. We have...
Facebook vs Google advertising
Expert Advice
Some people say, they have spent money on Google Adwords, but it didn't work for them or someone tried using Facebook advertising for their business and it did not give them any business. I often come across businesses with such issues and I believe the solution is as simple as understanding the advertising platforms better. So, I have put together...
7 Tips for improving your cash flow
Cash Flow Solutions
They say cash is king. Find out how to give yours the royal treatment. There's a golden rule in business: No matter how much you sell, if you don't collect the money, you're going to go out of business. As business owners, we often get so wrapped up in selling our products and services that we forget to take the...
Challenging work and career development will keep your best employees
Recruitment
A competitive salary and impressive work-life balance sound ideal but they aren't enough to keep your best employees. According to our recent survey of 1,516 people, 61 per cent look for another job in order to secure more challenging or exciting work. This was followed closely by a lack of career development (60 per cent). The opportunity to improve salary...
Useful tips for shop owners to mitigate the risk of sales fraud
Bookkeeping
20% of our clients are in the retail & food industry or in a business using a Point of Sales (POS) system. Their daily transactions are composed of 20-30% cash and 70-80% Electronic Funds Transfer at Point of Sales (EFTPOS). Though the level of cash transactions may be seen as low, substantial fraud can often take place in cash transactions....
Consumer law and order: manufacturers victims unit
Business Law
In the Australian Consumer Law, the people have remedies against two separate but equally important groups: the retailers, who sell the goods; and the manufacturers, who produce the goods. This is the manufacturer's story. Last month I wrote about consumer guarantees - the rights and obligations of retailers, but the story for manufacturers is different, and their liability essentially stems...
Speed kills the bottom line
Expert Advice
Yes, speed kills - the difference is that it's the other way around for the websites. A slow loading website is most likely reducing your conversion rate, hampering your search engine ranking and in essence affecting your business revenue and bottom line. In this article, let's talk about the need for speed in the digital world. 1. Why is speed...
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