The Wallet Size Multi-Tool for Business Success

If you admire gadgets or clever design, then you will most likely have one of those nifty little tools’ which have dozens of attachments enabling you to; cut, bend, clamp, squash, saw or sew. They come in a range of colours and sizes, from pink micro versions to hang off your keys to the bulkier silver numbers designed for a holster on your belt….but….have you ever considered the value of the super thin plastic version?

Perhaps one of the smartest (and most common) multi-tools on the market for business is the 2.8mm thick plastic credit card you are carrying … Read More

by

5 Steps to Better Business Financing

With countless business finance products in the market – is can be daunting for some businesses to decide which option to choose. The frequently asked question is “which one should I take?”, so to take some of the pain out of this point – we have provided 5 simple steps for better Business Financing.

To start, it’s not so much a case of which product you should take, it’s more a question of which one do you need and realistically, what is available.

Finance facilities should match the need, otherwise you run the risk of additional cost or … Read More

by

In Business, Cashflow is King: Managing Financial Flow

A well-used line in business – and for good reason, as without cash (or cashflow) in a business, it delivers the same result as a having a body without blood – SUDDEN DEATH!

I have seen mortally wounded businesses survive, simply because they had sufficient cashflow coming in the door to provide options. In some cases, the key objective was purely the opportunity to open the door again tomorrow.

There are a variety of ways to look after your cashflow – BUT FOR THIS POST we will cover one of the most fundamental and important cashflow aspects – … Read More

by

Essential Banking Insights: The 10 Must-Knows for Businesses

You would not skydive without a parachute, so don’t do business without these.

From a banking perspective, every business should have these 10 items in their kit bag to either save, make or protect money – whilst maximising their banking relationship.

Assess whether your business has these as you go (Yes/No responses) and be honest – pass/fail thresholds are at the end.

  1. a contact (or preferably three) at their bank. When you need assistance, you need to be able to quickly bypass the web and IVR tools and speak to a real person. For a deeper understanding on
… Read More
by

Business Finance: On the Hook! Understanding Financial Responsibilities

For those who have borrowed money, you would be aware that financiers are always looking for a primary exit (repayment) source – normally via the repayment from business operations AS WELL AS a secondary exit just in case everything turns sour. 

Most people get the simple fact that if they default on the loan, the financier will look to seize the security to get their money back, but…. there is a lot more to learn about this.

Firstly, did you know there is more than just property security that can be taken? Most financiers will look for property security whenever … Read More

by

The Financial Shopping List: Essential Items for Business Success

With countless finance products in the market – which one should I take? This is an FAQ from most businesses at some point, so this simple shopping list should take some pain out of the process.

To start, it’s not so much a case of which product you should take, it’s more a question of which one do you need and realistically, what is available.

Finance facilities should match the need, otherwise you run the risk of additional cost or inappropriate terms (which normally winds up being even more cost).

Step 1 – what is the need? Short term needs … Read More

by

Avoiding the Business Debt Trap: Strategies for Financial Freedom

Debt comes in two forms – Good and Bad. Successful businesses understand the difference and actively manage their position.

Over the years I have seen many businesses struggle (and some crumble) under the burden of debt – with the debt load literally hanging over the business like a tree branch waiting to fall in a strong wind. Using a simple test before taking on debt will assist you in avoiding this risk.

But……to start with – not all debt is bad!

In fact, debt can be a great enabler to get a business going, be it for a vital piece … Read More

by

5 Avoidable Banking Mistakes for Business Growth

As with most things in life – learn the lessons of those who have gone before you.

Over my years working with businesses and lending money, I have seen a number of simple mistakes that have cost people a lot of money. To save you the cost of these, I have jotted down 5 of the most common mistakes that I have seen, along with simple yet effective suggestions to avoid them.

Mistake # 1 – DID NOT READ the loan contract or terms & conditions.

25 years ago, a home loan contract was 2 pages – these days … Read More

by