Cash flow is a critical component of small business success. This is especially true if you run a trade business. Your ability to purchase tools and supplies, pay staff, and keep your vehicles running relies on having cash in the bank.
I was tired of spending my days staring miserably at mind-numbing spreadsheets and desperately wishing for our systems to crash so I could go home early.
The theory of overdone strengths
There is a tendency in nature for apex species to get larger and larger. But there is a counterbalance where nature has a tendency of making larger species extinct quickly. This is also true in business: the bigger the business, the more fragile it becomes.
In this blog post – we explore the top 10 signs that your business is ready for (and will benefit from) a Messenger chatbot!
Messenger marketing is a rather new concept when it comes to business and that’s really exciting, but it can also be a little bit intimidating or maybe a little bit scary. So, if you’re like most business owners, who are a bit intrigued by the idea of chatbots and Messenger marketing, but you’re just not sure if it will work for you, this is the video that you need to watch.
Video Ads are more than mere trends on Facebook and far more than a feature that is sure to come and go. If you’ve been active on Facebook, the tendency is to have seen video ads on the site for different brands/companies.
Times have changed. While more users always have their heads bent, busy with their phones; it does not imply that users are busy checking their news feed on Facebook. Instant messaging is the order of the day. Almost every social media app has a corresponding messenger application/option. So does Facebook.
The ecommerce explosion continues, but there's also an element of evolution. To take your ecommerce presence to the next level, take advantage of these emerging trends.
2019 is here! It’s a new year; not just for individuals, but for businesses and corporations alike. This is what makes the beginning of the year a great time to work something new in your business; a time to set goals.
Not everyone loves spring; however, the idea of a spring clean is well-embraced. It allows a house look new and clean. It also prevents the individual and entire family from suffering several diseases that come with having a dirty home.
If your home (which is only accessible to the few people you know) gets a spring clean so easily, your website (which is accessible to thousands of people) deserves a spring clean too
Remote work is no longer a privilege. It’s become the standard operating mode for at least 50% of the U.S. population. Virtual retreats are no longer attributed solely to progressive startups. Traditional employers are finally on-board and ready to propose a flexible work arrangement higher up the pipeline.
One of the great things about you as Xero users is how openly you reach out with feedback and requests for new features. We take the time to read and understand all feedback we receive. What really stood out to us this time (with around 200 requests coming through last year) was the overwhelming need for bills support in the Xero mobile app.
Falls from height (FFH) are the leading causes of serious and fatal injuries for construction workers. Almost all of these injuries and fatalities were preventable. There are many different factors that increase the risk of FFH injuries. Getting a understanding of these issues is key to preventing FFH injuries. As a result of identifying the types of hazards and learning how to safely address these hazards on your current jobs will allow you to get lower rates on General Liability Insurance and Workers Compensation Insurance.
We check our phones about 85 times a day. Chances are, you’re reading this on one right now – or it won’t be long till you check it again. A staggering 70% of internet traffic now comes from mobile devices.
Have you harnessed social listening?
As I peruse trends for 2019, I see a lot about listening on social. And I have to chuckle … how is this trendy or new?!
In any case, if part of your marketing strategy involves social media it should also involve social listening.
Here are four easy ways using listening on social media can inform your marketing strategy.
We’ve just rung in 2019. What can you do to get this new year off to a good start? Here are a dozen ideas. You may not need to implement all of them, so choose the ones that will help you the most—and get going!
In this era where a lot of activities are digital, no individual or organization wants their information lost. People also want to have access to their information; especially at the point of their needs. Therefore, one thing of increasing importance is the issue of accessible data storage.
UX (User Experience) is at the heart of every good design. It’s the difference between your customers groaning in wretched frustration, or grinning with enjoyment; with them shaking a defeated fist at your site and hastily clicking away from it, or completing a satisfying purchase and wanting to return for more.
Ten years ago, the accounting industry looked very different but new technology is evolving. Cloud-based software is becoming more prevalent everywhere you look; accountants have had to adapt their mode of operation. These changes to the industry will create so many opportunities for accountants. Yet, there will also be notable challenges to face with this level of change.
For most of us the internet is an intrinsic part of our lives. We rely on it to get us where we are going, connect us to friends and family and answer all of our questions, no matter how banal. It has also quickly become an integral part of most businesses, enabling them to complete business transactions in mere minutes as well as connect to their customers and a global network.
Effective job scheduling is one of the most important but least understood disciplines of business management.
The cloud – what is it and why is it important? Like the name suggests, the idea of the cloud feels lofty and hard to grasp. Simply put, cloud computing is the practice of using a network hosted on the Internet, or “the cloud,” to store, manage, and process data. This means you won’t have to maintain or own any hosting equipment.
It’s Christmas season again, a season to be jolly and a season of giving! Every employer is probably on a quest to appreciate employees for a job well done all year round, and also to provide incentives to help secure great performances from them in advance, for the coming year.
Contrary to what you've always been told, thinking negatively can very much be a good thing.
Offices used to be essential for most businesses. But mobile technology and new working practices mean that many small businesses don't need any office space. Here's what you need to know about having a mobile office.
When a customer asks you for a quote, they're giving you a golden opportunity. With the right response, you can close the deal quickly and win new business. Here's how to make the most of price quotes.
Business negotiation is a world of contradictions. You’ve got to be firm but flexible open and sharing, but a little cagey. There’s a lot to get your head around. But your state of mind might be the most important thing. Aim for a mutually beneficial outcome, and you’ll find the whole exercise more comfortable. Follow these five tips to prepare for your next negotiation.
Owning a small business is exciting. You get to do what you love, day in, day out. But traditionally, small business accounting isn’t exciting. So how can we change this stereotype and make accounting fun and easy?
Some benefits of social media and content marketing are normally inaccessible for small businesses and startups because:
Cloud computing got you perplexed? You’re not alone. Most of us talk about ‘the cloud’ without even realising what it really means. We’re clearing the air on cloud computing and how it can benefit your small business.
We equate being busy as being virtuous. When we’re maxed out, it feels safe. It must be productive. (Or is it?) It’s a badge of courage, honor or something …
Want to peek into the mind of your ideal customer and find out how they engage with social media video? How they are interacting with brands via video? How are they purchasing?
Take a seat, because in this post we break down exactly how customers are watching social media video and more importantly, how they are purchasing from video.
And it’s all based on data and research, so you can start using this intel now, to get results in your business.
Successful businesses spend that little bit of extra time on record keeping and getting their tax right, including preparing and lodging business activity statements (BAS). Once set up and organised, you’ll save time in the long run.
Construction is unlike any other business. Building projects can last for months or even years – and you might be both an employer and a contractor. So how do you learn the basics of construction accounting?
A few weeks ago, the new shiny iPhone XS entered the market. For all the Apple lovers out there, this might mean being the first to wrap your hands around the irresistibly smooth all-glass design, or finally upgrading your old glitchy iPhone 6 to the new model.
If this is you, I’m guessing you’re focused on the opportunity to start afresh, buy a new case, clear all those apps cluttering your current device, and start playing with its new features. Right?
Email is a notoriously fickle channel. Something as simple as tweaking the subject line can be the difference between an 8 percent or an 80 percent open rate.
The $20,000 instant asset write-off threshold has been extended to 30 June 2019. This means you can continue to claim the cost of new or second-hand assets that are less than the threshold of $20,000.
During the Christmas holiday season, businesses of many types employ seasonal or casual workers to meet extra demands. Often these workers are hard-working young people who have travelled from overseas, bringing with them their own language and culture. This international melting-pot makes for a fun and productive work environment, although it can also present challenges.
The homepage is the most important page of your business’s website. It is the virtual shop front to your business, providing your customers a first impression of what you have to offer. You only have seconds to grab your customer’s attention so it is key to make sure that they can find what they’re looking for quickly and easily.
Clichés. Can’t live with them, can’t live without them. (See what just happened there—it’s that bad).
The most widespread, just-waiting-to-pop-out-at-you, cliché is a very short one, measuring just three words—time is money.
Too often businesses leave collecting debts at the bottom of the pile. Why? Often there is anxiety and worry around the process, or lack of trust in collection agencies. Sometimes lack of time and understanding of the process.
Over 100 accounting/bookkeeping, marketplace and banking partners across Asia joined us in Brisbane this year to attend Xerocon, the most innovative conference for cloud leaders in Asia, Australia and New Zealand.
There’s literally hundreds of blog posts giving you the 7-10 steps to reduce debtors and improve cashflow. Yet the debtors problem still exists to some extent in the majority of small and medium size enterprises (SMEs) globally.
We no longer need studies to tell us: Smartphones are almost everywhere. Most of the customers coming through your doors have a mobile device with them. And these devices aren’t always shoved in pockets or bags — shoppers are using them while they’re in store too.
Offers for grants worth over $3.5 million will support 7 businesses to help launch their innovative products, processes and services into domestic and international markets.
The funding has been provided from the Accelerating Commercialisation element of the Entrepreneurs’ Programme.
Anticipating future demand is a tough job, wrought with ways you might go wrong. Proper demand forecasting and inventory control can save a company from buying too much or too little of something, which of course avoids expensive overstock scenarios or stockouts.
Tax time is fast approaching—it’s important to do your homework and know exactly what tax deductions you can claim.
Want to get a bigger tax refund?
As passionate believers in the healing power of flower essences, Scott Harris and his co-founder Jayne Tancred established Tribe of the Tree in Sydney seven years ago.
Delving into the e-commerce world is an exciting adventure albeit somewhat daunting. You need a ‘shopfront’ – somewhere you can show off your wares to customers. Here we review some points to consider when choosing your cloud-based e-commerce software.
The manufacturing industry is changing and new trends are shifting the way manufacturing companies operate their facilities. In addition, manufacturing companies are looking to become more sustainable in their operations.
As businesses grow, it is often inevitable that additional entities will be needed. Typically these will arise from international expansion into new markets or for legal and risk mitigation.
Your profit margin is a metric that should always be on your radar, and for good reason: it answers critical questions about your business, like whether or not you’re making money or if you’re pricing your products correctly.
Strategic planning is the blueprint for your business. It’s an aspirational and practical plan for your future that can give you an exact outline of where your business is, and where it should be.
Over 2,000 years ago, Aristotle said “ First, have a definite, clear and practical ideal; a goal, an objective. Second, have the necessary means to achieve your ends: wisdom, money, materials and methods. Third, adjust all your means to that end.”
The world of accounting and bookkeeping is changing. It was a decade ago that I decided to upgrade our small business from spreadsheets and Word documents to a proper accounting system.
Students in the US won’t be flocking back to campuses until September, but for retailers, it’s high time to ramp up back to school (BTS) and back to college (BTC) marketing campaigns.
Outsourcing ‘business as usual’ tasks can bring focus and efficiencies your business needs in order to succeed in today’s fast paced environment. A new level of agility and access to quality analytics and expertise can be brought into your business. To get ahead of the competition, consider outsourcing.
Seasonality might make you think of the holiday season but seasonality is not exclusive to Christmas, Easter or Halloween! Seasonality also encompasses the summer seasonal boom.
As traditional retail channels dwindle in popularity, more businesses are turning to multi-channel retailing to provide an extra income stream and keep business ticking over.
The shopping habits of consumers has changed significantly over the past 10 years and will continue to change over the next decade too.
The UK retail landscape is changing rapidly. Consumer spending is decreasing, competition is increasing between businesses, and people are turning to e-commerce at an unprecedented rate.
These days, it seems like every retailer is running some sort of sales promotion. 25% off, $5 off a purchase of $50 or more, buy-one-get-one-free — these approaches are becoming so commonplace that it’s easy to get lost in the mix.
In the cosmetic industry, managing the supply chain efficiently and effectively is crucial for cosmetic companies to gain a competitive advantage.
13 may be unlucky for some but if you follow these 13 top tips on how to use Xero and make the most out of your account you won’t need luck.
Have you ever considered selling private label products? If so, keep reading. For this post, we caught up with Sarah Ferrence, the founder of Mod. Merchant, a firm that helps retailers and wholesalers adapt and grow their businesses in the new era of retail.
Many firms will decide to take on debt at some point, at different stages of growth and for several reasons.
Managing seasonal pressures in the automotive industry is an ongoing struggle for car dealers, repair shops and others in the auto business.
Father’s Day is just a few short weeks away, and while this holiday isn’t as huge as the day dedicated to moms, consumers still increase their spending quite a bit.
As more businesses use online inventory management, manufacturing and procurement tools, businesses that stick to traditional ways of operating are likely to surrender their competitive advantage.
Scammers use clever tricks to reel you in and get you to reply to their email or not hang up the phone. Most scams seem like genuine offers but they are carefully designed to trick you into giving away your money or your personal details.
One of the major differences between brick-and-mortar and ecommerce retail is the ability (or inability) to create a physical customer-product interaction.
When was the last time you gave your retail checkout counter some love? (And no, we’re not just referring to cleaning up your countertop or moving some stuff around.)
Competition is rife in every industry. In order to keep up with competitors you have to be innovative and quick.
There are many factors that can contribute to business success or otherwise. When first starting out, business owners can be focused solely on serving customers that they forget to check out the competition.
In an ideal world, your business would never have excess or obsolete inventory. However, this can and often does happen when demand for certain products decreases and supply remains steady or increases.
Cash flow can be hard to get to grips with for any business; whether you’re growing, just starting out, or established. In fact, 82% of businesses become insolvent because of bad cash flow.
Shifting data, systems and the inner workings of a business onto the cloud can be a big move. However, it’s hard to stay away from the cloud these days; the applications of cloud-based software are seemingly endless.
When it comes to quality control as a manufacturer, it’s important to remember the role inventory management has on your ability to moderate quality. In terms of running a business, your aim will be to make quality products that will sell, with as little waste as possible.
There were almost 5 million retail sales jobs in the U.S. in 2016. Those workers, both full- and part-time, represent a sizeable chunk of the workforce, and they’re also a key component to every growing retail business. (post by Alexandra Sheehan)
While millennials are still a significant consumer segment for retailers, there is another shopper group that’s continuing to gain spending power.
No matter how inventive or simple your business model is, you can still have problems with cash flow. Here is a rundown of the best and worst businesses for cash flow.
While there are many things that can affect the in-store experience (e.g. products, prices, store environment, etc.) customer service is always going to be one of the top factors that impact how shoppers perceive your brand.
As some of us begin a new financial year, it’s time to reflect on trends from the year that’s been. The 2018 financial year continued the dramatic trend of change that small and medium sized businesses have been experiencing for the last few years.
Perhaps the most important part of retail is the moment of the transaction — when money transfers from the customer to the cashier. (post by Cara Wood)
Local store marketing is critical for many retailers, particularly those who have brick-and-mortar stores. Chances are, the bulk of your foot traffic comes from people in the neighborhood, so it’s vital that you get yourself in front of as many locals as possible.
One critical factor for food and beverage industry growth is innovation. While the food and beverage players are experienced innovators, the industry itself is facing new consumer, food safety and regulatory challenges.
When thinking about threats to your retail store, shoplifting is probably number one, right? The idea of someone swiping hundreds of dollars of products into a giant bag and walking out with them is horrifying, isn’t it? (post by Cara Wood)
No entrepreneur or business startup sets out to fail, yet in every industry, there are those companies that grow and dominate their markets, while others stagnate or ultimately fail.
Working remotely or freelancing has its positives— working in your pyjamas being one of them— but when it comes to self-motivating and staying productive, it can be an uphill battle.
Controlling a supply chain can be a very difficult exercise. Businesses can struggle to control what is going on in their supply chain and this can result in failure.
If you are a startup owner or entrepreneur, it is no secret that you may be working within a tight budget. The ability to make pennies stretch is an important survival skill.
Recruiting more women into roles within the technology sector continues to be to a major challenge for employers. In the UK technology sector, only 15% of people working in STEM roles are female, and women hold only 5% of tech leadership positions.
There are many lessons to be learned through failure. Each time something does not work in a business, there are endless reasons and factors that could culminate to cause the failure.
Highly successful retail businesses don’t just happen overnight, nor does it (usually) occur because of one big, bold action.
Numbers don’t lie, so if you find yourself at a loss with what’s happening in your business, one of first the things you should do is look at your retail metrics.
Gift giving is a major part of the holiday season. As a result, the holiday seasons is hectic, not only for the consumers, but also the retailers and manufacturers supplying the gifts.
The Harvey Weinstein scandal is back in the news this week – and it’s a reminder that we should seriously think about how we recognize and prevent sexual harassment in the workplace.
Impulse purchases account for a significant chunk of the consumer spending pie. According to a study by Marketing Support, Inc. and Leo J. Shapiro and Associates, about one-third of all consumers make a sizeable impulse buy every week, with a median purchase of $30.