Guide

Methods to try to increase your sales post COVID-19

For most businesses, increasing sales during this time will be very beneficial and may provide some much-needed cashflow relief. Both cross-selling and upselling can be useful methods for increasing your business’s sales. But there are also genuine benefits for your customers. They’ll appreciate being offered an item that either complements or adds value to their […]

Sure-fire marketing plan in eight easy steps

If you’re serious about getting the best value you can for your marketing budget, you’ll need to develop a marketing plan. Below we outline eight simple steps for making your marketing efforts more effective. 1. Know your customers Firstly, you need to identify your target market. You probably have an idea of who buys from […]

Beyond COVID-19 – How to build value in your business

We’ve said it before and we’ll say it again – this has been an extremely difficult few months for all of us, but there is no better time to think seriously about your business. In this article, we have compiled a few tips to create value in your business. The key to building value in […]

Tips for building an online distribution channel

Online distribution frees you geographically. Where you might have been selling your product or service locally, opening an online distribution channel means you can sell it on a global scale, which is an effective way to grow your business and boost your brand. Many businesses have had to move their businesses online in recent months. […]

Changing your business model

Your current business model is the way your business earns money. A change in your business model can bring substantially more income – sometimes for less work and lower overhead costs. Technologies and markets change at an ever-increasing rate, opening new growth opportunities that may just require a shift in your thinking. Many business owners […]

How to develop new products and services

Markets are dynamic and constantly evolving so no business can afford to stand still. Many business owners have learned that in the last few months as COVID-19 spread around the world. No matter how excellent your products or services, they have a finite lifespan, so they must be developed, improved or replaced if you’re to […]

Prepare a business plan for COVID-19 recovery (free template)

You probably didn’t factor a global pandemic and national lockdown into your business plan! So now is definitely a good time to revisit your business plan for the next year. We know that writing a plan can feel like a big effort so we have created a template to make it easier. Please get in […]

Calculating your break-even point

Is your business worth the risk? If you’re confident there’s a genuine demand for your potential product or service (and at the price you want), the next step is to work out how much you need to sell each month to make a profit. Will your business venture be worth it? It’s unlikely your business […]

Pricing options for your business

The prices you charge for your products or services can have a dramatic effect on sales and profits. Your pricing strategy also determines how customers view and respond to your product or service. Consider the different options when it comes to pricing, to make sure your strategy is effective. The main pricing options Since you’re […]

Should you lease or buy assets?

Finding money for the essential assets you’ll need to run your business efficiently can be a challenge. You’ll need to decide whether leasing or buying is best for your business. Is borrowing money essential? Whether you need to purchase a vehicle, some computer equipment, or a bigger warehouse to expand your business or to operate […]

Five ways to increase your profit

For many small businesses, the best way to improve profitability is to increase turnover, as there’s no limit to sales but there is a limit to how much you can reduce your costs. Let’s look at how you can focus on each of the five ways in our profit increase calculator to achieve your goal […]

How to raise capital for your business

Before you go down the path of seeking capital from outside your business, identify any other ways of raising capital. For example, do you have any savings (either in the business or you personally) that you could use? If you have unused assets in the business (machinery that’s not used very often, buildings or excess […]

Cost-reduction tactics for small businesses

At a time like this, money is tight for pretty much every business. Cutting costs can be a quick and easy way to improve the profitability of your business. Introducing cost-control measures can bring immediate savings and ensure you remain profitable in the long term. But it’s important that cost-control measures are carefully managed. Eliminating […]

What to do if your business is operating at a loss

Operating at a loss simply means you’re spending more money than you’re making. And while it’s not uncommon, especially for new businesses, it’s still not an ideal situation and one that shouldn’t continue in the long term. Otherwise you will eventually run out of cash reserves and be out of business. So the first thing […]

JobKeeper Alternative Eligibility Tests

The ATO has just released Alternative Tests for the JobKeeper payment which expands eligibility from the initial basic test. This is good news for many businesses, particularly startups, those affected by last year’s droughts and those with variable revenues. Basic Test If you satisfy the eligibility requirements for the basic test, you can ignore the […]

Fair Work Clerks Award Amendment

Fair Work has amended the Clerks Award during coronavirus On 28th March 2020 the Fair Work Commission made a determination varying the Clerks Award. Here are a few things it covers: Minimum engagement/pay for part-time and casual employees working from home Part-time employees who have agreed with their employer to work from home can have […]

‘Job Keeper’ payment makes up Government’s 3rd stimulus package

As we try to catch a breath from all the chaos going on with Coronavirus, we just got word of the Australian Government’s latest stimulus package. This package focuses on the ‘job keeper’ payment, aimed at helping businesses keep their staff, which will be a lifeline for many people over the coming months. Here a […]

Apps to improve your physical and mental health

We understand that the Coronavirus outbreak has changed the lives of many people already. Some businesses are temporarily shut due to government restrictions, others have had to closed their doors completely. No doubt, everyone is feeling a little more stress and anxiety because of the ‘unknown’ this pandemic creates. It’s important to look after yourself […]

What the Coronavirus Stimulus Package means for you – March 13, 2020

It’s hard to escape the news of the Coronavirus as it continues to have a huge impact on people across the world. Closer to home, the Morrison Government has announced a stimulus package in response to the anticipated economic downturn. This package includes a number of economic stimulus measures, most targeted at helping small to […]

Slack’s guide to working remotely

Slack is a communication tool that works especially well for remote teams. Every day, all over the world, in teams large and small, people are working together remotely through Slack. Slack has put together a bunch of useful resources to help people work better—wherever they are physically. Check out the useful guide here. […]