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A cash flow crisis is caused by several factors. Many businesses shut over this period but are still paying wages to staff on holiday, as well as other fixed costs such as rent and loan repayments.
There are six individual growth stages in a business lifecycle. Each stage has unique characteristics, challenges and strategic focus areas. Some businesses are between stages or have characteristics from multiple stages.
Cash flow is the movement (i.e. incomings and outgoings) of cash in a business. Cash flow management is the process of tracking cash flowing in from sales, funding or grants and cash flowing out for expenses, investing or repayment of debt.
Data is such a valuable asset for any organisation. Just as understanding the financial implication of every business decision you make, tracking and measuring your marketing data is critical for any successful growth strategy.
All organisations, regardless of size or industry, have been affected by COVID-19. There is little point gazing into your rear vision mirror at past business performance. We suggest looking forward to assess what is possible in this post pandemic economy and building a financial roadmap for your...
As a business owner, you probably started as a solopreneur or with a small team. When the business was in the startup phase, everybody knew how things were done. As you grow, explaining how things work (often repeatedly) becomes time-consuming and more complex. Without adequate systems and...
The single most important leadership skill that every business owner needs is emotional intelligence.