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Category Archives: Business

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How To Start Your Own Business

How To Start Your Own Business
If you are thinking of, or about to start a new business, you must be excited! I know I was when I left the international consulting firm I was working for in 1991 to start my own financial and management consulting company. I was excited and a little terrified! But at least, I had an advantage over most subject-matter experts who decide to leave employment and start their own business - I was a qualified and experienced Chartered Accountant who knew about starting and building businesses, about tax and registrations and the law and agreements. That is the most common experience of my clients over the years who have started their own businesses: (more…)...
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Outsource for Efficiency

Outsource for Efficiency
Once upon a time, running a small business was relatively uncomplicated. Not easy, but uncomplicated. You were good at something. You saved or borrowed some capital. You set up procedures that focused on doing what you were good at, which was what drove the business, and then you hired people who could do the supporting functions like keeping the books. As you progressed, you hired some contract specialists like tax accountants, or you hired contractors to do things you didn't want to do like clean the office every night. (more…)...
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10 Tips to Avoid Insolvency

10 Tips to Avoid Insolvency
It is a tough world out there for small business at the moment. Interest rates are bottoming out yet not much consumer spending is being seen. Here in Perth, iconic restaurants and pubs are closing down, strip shops are empty, fashion labels are rationalising their stores and outlets. While we cannot succumb to all this bad news, and we must look forward to our continued success in business, nevertheless you cannot simply ignore what's going on. No matter how many times you visualise success, if you don't do something tangible, those problems are going to come and get you. (more…)...
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Creating An “Advisory Board” For Your Small Business

Creating An “Advisory Board” For Your Small Business
In larger companies, establishing an Advisory Board is becoming more commonplace as these large businesses seek to add to the value and experience of their Board of Directors. This is a trend that can also be of great help to a small business, whether you are operating as a company or not. Most of my clients and readers run family-owned companies or husband and wife operations. Their Boards of Directors are usually the owners. While this provides control of ownership, it does not provide these businesses with fresh perspectives on strategy, reaction to economic trends, specific industry or geographic experience as well as on markets and legal and legislative circumstances. Knowing your business in and out is great - but think of the added value of a pool of new minds that have a different and fresh perspective on the wider business world. (more…)...
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