Business Planning: Marketing and Sales

The marketing and sales section of your business plan should cover the basics; your target market and competition, defining your product messaging, pricing, and other marketing strategies to maximise sales. Marketing is not just advertising; marketing is an investment in the growth of your business. Like any other investment, money spent on marketing must generate a return. With that in mind, the aim of the Marketing and Sales chapter of your business plan is to answer the question “How will [...]

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Business Planning: Your Competition

Analysing your competition is a key component when writing your business plan. Understanding both your current and potential competitors is critical to ensure your business survives and grows. In this chapter of Business Planning you will learn the key aspects of conducting a competitor analysis. An analysis can be a time-consuming exercise, to make the process easier start with the current businesses you will directly compete with. For example, if you plan on opening a local bakery you should investigate [...]

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Business Planning: Executive Summary

The purpose of an executive summary is to outline the company’s purpose and goals. It needs to clearly define each section of your plan so the reader is prepared for the upcoming content. Your summary is considered as the most important part of your business plan, it sets it up for success. Even though your summary is generally at the start of your business plan, it is often written last. Think of it as the trailer for a new Hollywood [...]

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Small business events: the most effective marketing tool?

Are small business events the most effective marketing tool? In today’s online world it is easy for businesses to rely on phone, email, and social media to engage with existing and prospective customers. This is limiting. Not only does it take away the personal element of business, it greatly reduces any opportunity to develop genuine relationships. Those genuine relationships are the key to success in small business. This has been argued by countless experts (Peter Drucker, Barry Moltz, Marie Forleo). [...]

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Small business leadership - like a boss

Leadership mastery: Knowing your weaknesses

Apparently, employees leave managers, not companies. Bridgette Hyacinth, an expert in HR and leadership writes “In spite of how good a job may be, people will quit if the reporting relationship is not healthy”. Despite evidence that 50% of American workers voluntarily leave their jobs because of bosses, the statement remains questioned. According to data gathered by Culture Amp, only 12% of the decision-making process made by an employee before leaving a job, was down to the manager. Their opinion: development opportunities. In fact, their [...]

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What do the Banking Royal Commission findings mean for Australian Small Business and Agribusiness?

The final findings and recommendations by Commissioner Hayne were released to the public on Monday 4th February. We have sifted through the 76 recommendations and drawn out those which will impact SMEs and those in the agricultural industry specifically. SMEs The definition of small business This will be simplified so that an additional 10,000 to 20,000 additional SMEs in Australia will be governed by the Banking Code. This will offer better protection for these businesses when dealing with their banks. Credit assessment process There [...]

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Managing overhead costs for small business

Average overhead costs for a small business More than half of Australia’s small businesses reported a bigger growth than the past several years, according to a recent CPA Australia report. However, keeping the doors of your business open takes a lot more than passion and a stomach for risks. Business owners have a lot of things to consider when running a business, including the costs. With invoices, income statements and other expenses to consider, it is no surprise that many small [...]

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Be prepared for Single Touch Payroll with Cashflow Manager

Single Touch Payroll (STP) is almost here and Cashflow Manager is working with the ATO to make sure that you are ready to go when it becomes mandatory for businesses with 20 or more employees on 1 July 2018. Cashflow Manager Gold and Wages Manager will be compliant at this date and will deliver an easy-to-use solution to make this change as simple as possible for you. What is Single Touch Payoll? Single Touch Payroll is a new simpler way to report [...]

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7 things every small business should do before Christmas

While Santa’s double checking his naughty and nice lists, make sure you check out our list of 7 tips to make sure your small business is all set for a jolly holly Christmas. Get into the festive spirit The end of a year is also a great time to celebrate and acknowledge the hard work and achievements of your team over the past twelve months. Start by creating a festive environment and getting creative with Christmas decorations, activities and events. Connect on [...]

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How to create a budget for your small business in Cashflow Manager Version 11

A business budget is a vital tool for success in starting and operating your business. It can help you plan the items and expenses necessary if you are a start-up, assist you with getting a business loan, show you how much you can spend each month, and help know how much money you need to make to meet all your expenses. In Cashflow Manager you have always been able to create a budget for a particular account but in Version [...]

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