- Four strategies to manage your budget & increase profits
- In the past few weeks I've told you the importance of having a budget for your business and I even showed you how to create one.
But today I'm going to tell you how to effectively manage your budget.
Because just developing a budget isn't enough. For you to effectively manage a budget, you and your employees need to be aware of a few strategies.
Here's four strategies you can use to manag... ››› more
- [15 October 2015]
- Six checklists to a improve your business budget
- It's almost December and we all know what that means... right? Holiday, parties, and shopping! Well, not exactly.
What it should mean for you as a business owner is that it's time to put together your business budget.
Hopefully you know the value in having a budget for your business operations and you're not recklessly spending money.
You need to improve your budget so you know exactly w... ››› more
- [13 October 2015]
- Selling on credit? Here are seven tips to manage debt in your company
- Do your sales only increase by giving your customers credit? Credit sales put you at an advantage because your customers focus less on the product price and build relationships with your business. So you become their preferred supplier, which generates more sales.
But, credit sales carry the risk that they may become bad debts. So you need to put debt management practices in place to make sure... ››› more
- [13 October 2015]
- Creating your 2016 budget? Don't make these three common mistakes!
- Your business no matter how big or small has to have a long-term vision for itself and a series of short-term plans for how you're going to achieve your vision.
So budgeting helps businesses achieve these visions and plans. But there are still a number of mistakes that people constantly make with budgets.
These mistakes impact the effectiveness of detecting problems in your budget and havi... ››› more
- [08 October 2015]
- Three tools you can use to detect red flags in your financial statements!
- Managing your business requires financial statements to make informed, intelligent decisions that will affect its success or failure.
Your investors need financial statements to analyse investment potential and banks require financial statements to decide whether or not to loan you money.
So you need to make sure your financial statements are financially and ethically sound.
Read on for... ››› more
- [06 October 2015]
- Can't pay salaries at the end of the month? Here's how to get your cashflow under control
- Budgeting is one of the most powerful financial tools available to any small business owner.
Put simply, maintaining a good short and long term financial plan lets you control your cash flow instead of having it control you.
So ensure your business is always profitable. With the financial budget you can plan for the future, stay in control of costs, and make better financial and business d... ››› more
- [01 October 2015]
- How to create a business budget plan in 14 steps for January 2016
- January 2016 is just around the corner, which means you need to start planning ahead. But before your business can make money next year, you need to plan how to spend it.
Drafting a budget is the only way to help you turn your dreams for your business success into reality. Without one you won't know how your business is performing from year to year.
Read on as I explain how to create a bud... ››› more
- [01 October 2015]
- 36 000 ghost employees paid billions in salaries - don't fall victim to payroll fraud
- The North West government revealed they paid R19 billion in salaries which included 36 000 ghost employees. All these 'employees' received a promotion and a raise!
And to make it worse, salaries accounted for over half of the province's expenses! Now, your salaries might not come to billions but, can you afford to waste any of your hard-earned cash on fictitious employees?
I didn't think so!... ››› more
- [30 September 2015]
- Five controls to decrease the risk of accounts payable fraud in your company
- Your accounts payable department is particularly susceptible to fraud. This is because you make all your company's payments from this division.
And if you don't manage your accounts payable well, it could pose serious financial risks to your cash flow and impact your business negatively.
But you don't have to fall victim to fraud. Read on as I explain five top controls you can use to tight... ››› more
- [30 September 2015]
- Nine indicators to help you identify fraud in your business
- Financial statement fraud is when your financial manager intentionally overstates or understates assets, revenues, and profits.
You might have suspected management doing this in a desperate attempt to meet company goals and objectives to meet investors' expectations.
But instead this will actually cripple your business and you could be the one that ends up in jail!
So, today I'm giving you... ››› more
- [28 September 2015]
- Strategies to get foreign investors involved in your business
- Finding the right type of investor for your business can be a time consuming task. When it comes to sourcing investment from overseas, things can be even more difficult, as the potential opportunities are even greater. There are many strategies that can be used to encourage foreign investors to become involved in your business. When it comes to attracting outside interests to South Africa, there a... ››› more
- [25 September 2015]
- Still not using PivotTables? I'll give you five reasons why you should!
- Still not using Excel PivotTables to prepare your monthly reports? Why not?
The PivotTables tool is one of the most powerful, yet intimidating features in Excel.
It lets you view the differences in very big sets of information and its helps you organise large data in Excel, easily. But don't let it intimidate you.
Read on as I give you five advantages of using Excel PivotTables to help ... ››› more
- [11 September 2015]