Understanding Cash flow projections

Tradies spend a lot of time getting work done on various projects for clients with the goal of business growth and profitability. Business growth and profitability are closely related, on the one hand, growth requires a tradie to be in control or have oversight of the various business functions and profitability on the other hand, is as a result of sound financial management principles.

In Accounting, Budget, business growth strategies, cash flow, Planning, finance, business advice, consulting

Marketing: What your trade business needs to make more profit

What is your marketing strategy for 2019?

Strategy is an important aspect for any business, including Tradies. Knowing where you are coming from, where you want to be by a certain time and how to get there separates successful and failed businesses.

In business growth strategies, Marketing, small business, tips, business advice, strategy, consulting

How to go from Break-even to Profit

Break-even: Part 2

In the first part of the Break-even series, we discussed what the break-even point is, how to calculate it and the 3 important elements you need to employ to achieve that position. As a quick recap, new businesses might not generate expected income in the short term but can make enough revenue which puts them in a position of not making a loss but not making a profit either. At this point the business can still survive, however, the most preferable outcome is that of making a profit as soon as possible.

In business growth strategies, Expenses, growing your business, small business, tips, business advice, profit margin, consulting

Are you eligible for government grants?

The government is currently offering grants to help small businesses owners grow their business. These grants can be used to help fund the development and growth of your business. The funding just requires an application to the relevant body once you are satisfied you meet the criteria. There are different grants available for specific purposes. The most relevant ones for Trade businesses owners are highlighted below.

In Business, business growth strategies, industry update, New Legislation

GOAL SETTING

Goal setting is more than just giving yourself a to-do list. You should set yourself a really meaningful long-term goal and then break it down into smaller achievable targets. Business owners should articulate this long term goal to the team through various mediums. Having a really well defined vision for the company provides clarity for all of your team members.

In Insider, Blog, business growth strategies, Goal Setting, growing your business, tips, business advice, strategy

10 BIGGEST FINANCIAL MISTAKES BUSINESSES IN THE TRADE INDUSTRY MAKE

In Insider, Accountant, Management Software, Accounting, Bookkeeping, Brisbane Bookkeeping, Business, business growth strategies, Profit and Loss, Risk Management, sales, small business, Systems, Tradies Tax, finance, quote, business advice, strategy, quickbooks, quoting, preparation, changing accountants, profit margin, consulting, cloud solutions, industry update