Articles

06 Jan 2013

Don’t give up your day job

Most small business owners start out in salaried employment and then pursue an idea or opportunity that arises. As a result, there can be a fast transition from…

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06 Jan 2013

Think twice about buying that BMW

Many small business owners seek to buy a prestige vehicle as a reward for their hard work and to show that they have been successful. Buying a motor…

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06 Jan 2013

Get mentored

Whatever challenges your business faces, you can be sure that someone has gone through something similar before you. There are a number of government and community programmes that…

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06 Jan 2013

Get professional advice

A business can be operated in your own name, or via a company or trust. Each one of these has its own advantages and disadvantages. Although it is…

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06 Jan 2013

Be prepared to chuck it in

Being realistic about the prospects of success is essential. It is better to walk away from a business with your marriage intact and some home equity left. Before…

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06 Jan 2013

Understand the profit drivers and key performance indicators

In order to manage and direct your business you need to understand your key profit drivers – the things that will determine the profit of your business. Things…

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06 Jan 2013

Stay up to date and one step ahead

Staying up to date with business basics is crucial - basic bookkeeping, payment of accounts, collection of debtors and lodgement of BASs and tax returns means you will…

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06 Jan 2013

Invest in the right things

People, systems and technology are vital to successful businesses. Training and developing staff and having good people management systems will mean you are not just paying wages, you…

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06 Jan 2013

Manage your risk – Asset protection

In business there are many things that are outside of your control. The first step to managing risk is to understand it. So reviewing the risks peculiar to…

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