Using cloud techology can save your business money and make it more efficient.

You've probably seen articles about this latest development in computing technology "cloud computing" and may be wondered how it may be of use in your business.

As with all new technological developments, the technology starts with and idea, becomes a reality by being adopted by "early adopters" and eventually becomes mainstream.

The most recent phenomena, "social networking technology" has now become mainstream and conventional wisdom suggests that, unless they want to be left behind, businesses need to understand, develop a policy for and employ "social networking techology".

The next phenomena that I think will become mainstream is the use of cloud technology.

The idea is not really that new but over recent times with the rapid increase in computing power and the decrease in cost the technology is available to all.

So, how can this help save money for your business?

Here are some suggested opportunities:

1. the business will no longer have to buy software and pay expensive licence fees of be forced to pay annual "upgrade" fees for features that you don't need but you have to take if you want to continue to use the software.

2. the business can have information available to anyone, anywhere who has a device, PC, tablet, smart phone or anything with a browser without the business having to maintain it's own network of servers.

3. the business will be able to cut the cost of technical support for computing.

4. the business will be able to cut the cost of hardware.

5. the business will be able to use simpler computing devices which are more user friendly.

6. for businesses that service clients at their home or office, they will be able to easily produce on the spot invoices and receipts, increasing cash flow and reducing administration.

Obviously a business cannot move to this new technology without careful planning and assessment but the development is not something that can be ignored and those businesses that do will be in danger of being left behind by more nimble businesses that have reduced their costs and increased their efficiency. Just look at what is happening to those reatailers who have ignored internet shopping.

To find out more contact us for a no-obligation free one hour consultation.

Where would McDonald's be without a system?

Where would Specsavers be?

Two very successful business with finely tuned systems.

These business models can be applied to any business no matter what it's size.

In fact if you develop your system while your business is small you give it a better chance of growing without pain or failure.

To find out more contact us for a no-obligation free one hour consultation.

In my experience owners of small businesses regard the annual "year end" accounting exercise as a necessary evil. Something the government makes them do so that the business can be assessed for income tax.

In recent years Australian business's have also been obliged to make BAS returns declaring, amongst other things, how much GST the business has paid and how much it has collected.

Both exercises appear to benefit the government's more than the business and the only person making any money is their accountant.

This is understandable, but it doesn't have to be this way.

A business's accounts can serve many purposes in addition to the obvious compliance.

• they can provide vital information to management;

• they can form the basis of ongoing planning;

• they are the basis of any business analysis.

To achieve this the business's accounting system needs careful planning and must be maintained diligently and accurately.

The accounting software available for small business does not automatically serve these purposes.

Each business is unique so it would be difficult for the designers to provide software specific to each business. As a result the standard way in which the accounting software works is such that it complies with what the government want since this is known.

However, with careful planning and some additional applications it is possible to utilise current accounting/bookkeeping software to deliver on time decision-making information to managers and business owners.

To find out more contact us for a no-obligation free one hour consultation.

The Great Depression produced more millionaires than the world had ever seen.

With the recent Global Financial Crisis and the current Euro crisis and the doom and gloom surrounding them whilst there is no official depression it may seem that we are in one nonetheless. So does that mean that there are opportunities out there?

You would think from the news that it is disaster everywhere – spending is down, the traditional banking model is no longer working, governments are going broke and confidence is at an all time low.

You may well have seen your business suffer too, particularly if you have been in business for some years.

But it is not all bad news. A friend of mine started a business less than two years ago and it is going gang-busters. Why?

Despite all the doom and gloom that pervades the airways, internet and newspapers, everything has not suddenly come to a halt.

People still need things, there are things that have to be bought. Food and other everyday needs are a prime example. Businesses supplying staples are still active. They may face ever increasing competition of course from other businesses and buyers being more discerning and spending as little as possible. But those, and this is the key, that are innovative are doing well. Those businesses that fail to change, well, fail. Those businesses that are prepared to change may do well, very well in fact, specially if they remain in business whilst there competition gives up.

So why is my friend doing so well?

His business is not in a new up and coming industry and he has thousands of competitors but his business is organised and managed in a different way from his competitors. He uses modern marketing techniques to sell his product, he has a superior business system that ensures he keeps his customers happy and staff busy (and it's not computer based! room here for efficiencies in the future). Where he lacks particular skills he employs the best people he can find with those skills to help him. He pays his bills on time and only supplies people who are going to pay him on time. He keeps his finger on the pulse with daily activity and financial reports.

So there is money to be made in today's tough economic climate but you must be proactive and innovative.

People will spend but they are looking more than ever for good value.

Match those needs and you will be on to a winner and perhaps transfer some your competitor's wealth to you.

To find out more contact us for a no-obligation free one hour consultation.

So you are taking the plunge – you're starting your own business. You've tested the market, you know it's going to work. You've gots lots of energy and you're not afraid of hard work. You've even saved up the money you need to get started. You're keen to get going.

But where to from here? You've research has revelled that business has lot's of challenges. It's not just a matter of selling your products or services:

You need to keep accounts;

You need to account for GST;

You need to ensure you pay your staff the correct wages, and deal with penalty rates and on top of that collect and remit superannuation;

You need insurance – contents, public liability, workcover, professional indemnity and other risks specific to your business;

You need to work out what IT services you're going to need;

You need to register a domain name and get a web presence, not just a web site but social media too;

You need to manage stock, debtors, cash flows ...

And so it goes on.

Too much to contemplate? May be starting a business was not such a good idea after all. Perhaps you should spend the money you have saved and a good holiday. Maybe you'll just keep your day job after all.

DON'T LET ALL THESE "CHALLENGES" OVERWHELM YOU we can help, we have 35 years experience in starting and running businesses and can help you wend your way through all of them.

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If you have a challenge in your business and don't know who to turn to, why not contact us for a chat. It won't cost you anything but it might help.

I'm sure you have heard this comment before but how many people really take notice. Planning may be regarded as trying to see into the future and which is daunting. After all we don't possess a "crystal ball" and seeing into the future is impossible.

So, is planning really seeing into the future? I don't think it is. Planning is gathering as much information as possible for doing or achieving something. Think about setting out on a journey by car. Do we get into the car without any idea of where we are going? No we plan - at the very least which way we will turn when we get to the end of our drive or the street we live in. If we are a little more organised and haven't made the journey before we probably consult a map or program the destination into our GPS.

This is planning. We have looked into the future to a degree because we have reviewed our map or set up our GPS. We still don't know what the future holds but we know which direction we're heading and if nothing untoward occurs we will arrive at our destination as hoped, or planned.

If we have taken our planning exercise a little further we may have sought out what might be trouble spots on our planned route and worked alternative routes should the potential trouble eventuate. We may estimate the time our journey will take and, if it is a long one, plan some rests. If the reason for our journey is to attend an appointment then if we are to make the appointment on time it is essential that we take such steps. We should also check out where we will be able park within easy reach of the appointment.

We should take the same care when planning our business.

1 - Do you have a plan for your business?
2 - How old is your plan?
3 - How often do you review your plan?
4 - Do you have a system that compares your business's actual result with it's plan?
5 - If so how often do you make this comparison?
6 - Is your plan sufficiently flexible so that you can react to changed circumstances?

The answers to these questions should be:
1 - Yes
2-  Less than 6 months
3 - At least every 6 months
4 - Yes
5 - Weekly and monthly, and
6 - Yes

You may think this is all too hard. After all it's hard enough keeping track of sales and paying suppliers bills without having to make plans and carry out comparisons. If you think this way though it's like driving with your eyes closed and hoping that you won't hit anything! But with the right systems and discipline it's not hard at all and the weekly review of results becomes a great focal point for all staff. Once the systems are set up it becomes easy.

If you don't have a plan, don't have systems that allow you to make valid comparisons or didn't have the correct answers to the questions posed about your planning process then you need to TAKE ACTION NOW - do not wait -  contact us and see how we can help you build the best business planning system to suit your business.

Have you ever asked yourself “Why am I in business?”

Every business owner has their own reason: they want to be independent; they want to make as much money as possible; they are carrying on a family business in the family tradition.

Very often the reason is an emotional one and, particularly for men, ego driven. I’m not saying there is anything wrong with this and these are powerful driving forces in keeping the business going. How often have you heard of a business failing after the original owner has sold it because the new owner didn’t have the same emotional drive. So this drive is probably a very important factor is ensuring the survival of a small business.

My question, however, is does this emotional drive sometimes blind the business owner to the truth about his business?

• Is their business as efficient as it could be?
  They would not consider changing the way they operate because: “We’ve always done it this way.”

• Does their business consume their life and not allow them time to enjoy the money they have made?
  “I can’t leave the business to be run by the staff – they don’t understand” would be their retort if you suggest they take a holiday.

As a business owner, whether you started the business yourself or have inherited it from the family, it is your baby and you will protect it like any parent. Like a good parent you should nurture your child, help it mature and grow and then when it is ready let it out into the big wide world. Unfortunately this requires letting go, letting the child find it’s own way, make it’s own decisions and it’s own mistakes. This is not easy and takes a lot of courage, but this is the best course in the long run.

When all is considered the fundamental reason for being in business is to hopefully provide a life style that could not be achieved otherwise. Irrespective of the reason you are in business there will be a time when you have to let it go. This is inevitable. Owners who hang on to their business too long often damage the business, sometimes irreparably.

Every owner should have an exit plan and should organise their business affairs so that the plan can be activated when required. If you do not have an exit plan then you are not looking after your business and may not be able to achieve that life style goal. Finding the time and being able to view your business dispassionately in order to make an exit plan may be difficult without external help. We have relevant experience in this area and may be able to help you with this very important step.

Why not contact us for a cost free, no-obligation chat to see if we can help. 

Cash is the life blood of any business. Without cash a business cannot operate. Yet so many small businesses leave their cash flow performance to chance. They fail to manage purchases and sales transactions in a manner that benefits cash flow performance.

Too often business owners and managers rely only on financial information to measure the performance of their business. For example, while the profit and loss account is a very important report it may not be a very good measure of performance. Other, non-financial statistics may offer a better insight into how the business is performing.

If you would like to take to us about we can help you set up performance measures for your busines contact us for a chat. It won't cost you anything but it might help.