Having spent years as a fitness instructor and in financial services, there are many lessons I’ve learned from keeping in shape and living a healthy lifestyle that can be transferred to managing your finances.
The cost of travelling overseas can quickly add up so it pays to know some tips and tricks so you can avoid being ripped off on exchange rates and unnecessary fees as well as get a better deal on your flights.
As someone who constantly has the travel bug, I’m always on the lookout for ways to get more out of my money so that I can afford to squeeze in more trips each year. Here are things that I’ve discovered from my travels over the years.
Discounting is one of the most popular (and arguably among the most effective) ways to drive sales. According to a study by Software Advice, a POS system research site, discounting is the top “pricing strategy for retailers across all sectors, used by 97 percent of survey respondents.”
Talk to any credit control expert and they’ll tell you the sooner you follow up an overdue invoice the better. You’ll not only get paid sooner, but you’ll also send a clear signal to your customer that you take your payment terms seriously.
If you employ people to provide services to customers, it’s vital to manage the hours invoiced to customers compared to those you pay to staff. Reason being, the differential is potential lost income to your business and precious profit.
Setting a price for your product or service can be difficult to get right. We think we’re rational when we assess the value of something. But there’s actually a lot of factors, including the prices of competitors and our own emotions. Understanding behavioural science is key to setting the right prices and improving your profitability.
A cash flow forecast is a key management tool for businesses. This video will show you how you can use the Cash Summary report in Xero to quickly create a cash flow forecast in Excel for your business.
No matter how innovative, sought after or profitable your small business may be, without cash in the bank, you’re going to face some serious struggles.
Typically defined as: ‘the accomplishment of an aim or purpose.’ (1)
Success means a lot of different things to different people. Success may mean wealth, or it may mean happiness. It may mean fame, and for others it may mean power. But can revenue be a true predictor of success?
Have you ever thought you were doing something good for yourself only to find out it was having the reverse effect? Like having a caffeine-hit only to end up in an even bigger slump, or dry-cleaning that expensive jacket and having it returned ruined. Unfortunately the same can be said for many Australians who keep their savings in a high-interest bank account.
The end of the first home saver accounts (FHSA) scheme means Australians who have put their money into the FHSA have lost a great vehicle to build up their savings.
Back in the day, retail pricing was relatively straightforward. Customers would walk into a store, browse products, look at their price tags, and if they like what they see, they would move on to checkout.
When deciding how to price your products, you need to understand how – and where – your business fits into the economy.
The government has high hopes for Australian small businesses and is banking on them to boost the country’s economic growth over the next few years.
Do you know who an incredible advocate for hard work was? Mary Poppins.
Cashflow management is vital for a growing business. We spoke to Ed Castaño of BlueVine, a provider of working capital to small businesses, to find out how to manage cashflow. Here are his thoughts.
What do modern customers expect from retailers? How can you increase revenues per transaction? How can you ramp up word-of-mouth for your business? Our latest retail roundup answers these questions and then some.
There’s some truth to the saying “You have to spend money to make money.” When you’re running a business, shelling out without seeing an immediate return is part of the territory.