Do You Know the True Cost of What You Sell?
Pricing your products or services might seem straightforward: calculate your costs, add a markup, and voilà! But hold on! Do you really know the true cost of what you sell? Understanding your unit cost is crucial for setting profitable prices, making informed business decisions, and achieving sustainable growth. What is Unit Cost? Unit cost is […]
Why Raising Your Prices Could Save Your Business: A Counterintuitive Survival Tactic
It might seem counterintuitive, but when times are tough, raising your prices could be the smartest move you make. While the knee-jerk reaction might be to slash prices to attract customers, a strategic price increase can be the lifeline your business needs to not just survive, but thrive. Why the Hesitation to Raise Prices? Many […]
Profit Margins: The Secret Sauce of Smarter Business Growth
Profit. It’s the driving force behind every successful business. But simply making a profit isn’t enough; understanding your profit margins is the key to making smarter decisions, achieving sustainable growth, and maximising your business’s potential. What are Profit Margins? Profit margin is a measure of your business’s profitability, expressed as a percentage. It shows how […]
A Simple Budget Could Transform Your Business: Reduce Stress and Boost Profits
Think “budget” and you might picture restrictive spreadsheets and penny-pinching. But in reality, a budget is your business’s best friend. It’s not about limiting your potential; it’s about taking control of your finances, reducing stress, and paving the way for greater profits and growth. Why Every Business Needs a Budget Creating a Budget That Works […]
Is Your Pricing Strategy Costing You Profits?
Pricing your products or services can be a tricky balancing act. Too high, and you might scare off potential customers. Too low, and you could be leaving money on the table (or worse, losing money!). Getting your pricing strategy right is crucial for profitability and sustainable business growth. Why a Solid Pricing Strategy Matters Common […]
Could a Financial Buffer Save Your Business? (Hint: Probably!)
Imagine this: a crucial piece of equipment suddenly breaks down, a major client unexpectedly delays payment, or a global pandemic throws the economy into a tailspin. Scary, right? These are just a few examples of how unexpected events can put a strain on your business’s finances. But what if you had a financial buffer in […]
Simplifying Super: Your Obligations as a Business Owner
Simplifying Super: Your Obligations as a Business Owner Superannuation can seem like a complex beast, especially for busy small business owners. But understanding your obligations is crucial to ensure you’re complying with the law, supporting your employees’ retirement savings, and avoiding hefty penalties. Let’s break it down and simplify your super responsibilities. 1. It’s Not […]
Are Your Business and Personal Finances Too Close for Comfort?
For many small business owners, the line between business and personal finances can get blurry. After all, it’s your business, right? But while it might seem convenient to dip into the business account for personal expenses or vice versa, keeping these finances separate is crucial for your business’s health, your personal financial wellbeing, and even […]
Aim High, Achieve More: Why SMART Goals Are Your Business’s Secret Weapon
Setting goals is like mapping out your business’s adventure. It gives you direction, purpose, and a clear path to success. But not all goals are created equal. To truly unlock your business’s potential, you need goals that are SMART. What are SMART goals? SMART is an acronym that stands for: Why are SMART goals so […]
The Silent Thief: How Procrastination on Your Home Loan Could Be Costing You Thousands (and Adding to the Lenders’ Billions)
We get it. Life is busy. Checking your home loan interest rate might seem like just another chore on your never-ending to-do list. But here’s the thing: that procrastination could be costing you thousands of dollars – money that’s quietly slipping into your lender’s pockets and adding to their billions in profit. The Cost of […]
