Top 10 common mistakes business owners make
Around 40% of all small businesses go bust in their first year and 80% within 5 years and that trend is pretty global. Why? Well, they’re thinking the wrong way from the get-go (misconceptions) and they’re making mistakes. When we make mistakes in business it’s known as “paying dumb tax”. Mistakes cost money. When your […]
The 7 Deadly Cashflow Sins and how to avoid them
Where’s all the cash? This is the question that virtually every small business owner I’ve ever worked with has asked me. Either directly or indirectly. And this lack of understanding around “where’s all the cash”, leads them to feeling in the dark about their numbers overall. In this article we’ll explore SERPICO, which is the […]
Kanban
Whether you’re running a small company, managing a team, or just got caught up in the daily grind – organizing and planning is an essential part of your life. I have a system that could help you with managing your tasks better while providing you with clarity of what to do. The Kanban name comes […]
Cash is King!
Let’s explore Cash Flow. “Many profitable businesses have gone broke due to a lack of cash” That statement often confuses the hell out of business owners. How can you be making a profit and have a Cash Flow problem? The simplest example I can give of a profitable business having a Cash Flow problem is […]
Here’s How Bookkeeping Can Help You Achieve a Thriving Lifestyle Business
We are often called upon to help business owners bring their books up to date after they fall behind. As business owners, we often tend to think of our situation as unique. But the truth is, it’s common and predictable which is good news because that means that the solutions are not unique either. When […]
Are you making these bookkeeping mistakes?
There is no successful business owner, who doesn’t know and use their numbers. Your bookkeeping, also known as your accounting records, are like the foundation of your house. Without a solid foundation, your business is on a shaky ground. Here are five common mistakes we see business owners making around their numbers: Mistake # 1: […]
5 easy ways to improve your cash flow
Turnover is vanity, profit is sanity, but cash is king. Here’s 5 easy ways to improve your cash flow. Many businesses have gone broke doing business. What that means is they are making lots of sales but failing in some fundamental cash flow areas. This leads them to a position where they are unable to […]
Numbers 101
Step 1 Numbers 101 is up to date, accurate, accounting records. Here are my top tips for getting Numbers 101 right We see the consequences of ignoring Numbers 101 first hand. They are Your numbers are the foundation upon which everything else is built. That’s why all Top CPA Accountants list Numbers 101 as Pillar […]
Tax Time Preparation: Your Essential Checklist for Australian Business Owners
10 Ways to make tax time easier, more purposeful and optimised. Introduction: Tax season is fast approaching, and for business owners, it’s a time of both anticipation and perhaps a bit of trepidation. As the end of the financial year draws near, ensuring that your financial records are in order becomes paramount. At Precisely Profit, […]
Unlock Growth, Wealth and Freedom:
7 Signs It’s Time to Hire a bookkeeper – Precisely Profit In the intricate dance of managing personal or business finances, recognising the right moment to bring in a professional can be the key to maintaining financial health and unlocking valuable time. Thus, building a life with growth, wealth and freedom. While the DIY approach […]