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What a Business Needs t o Get Going   Grow Many of us have a dream to run our own business and can see a wonderful vision ...
Following is a simple and pragmatic outline of the key factors in a successful business   Get t ing Going 1. Product   Ser...
3. Government Grant s Your business idea may be eligible for a government grant. They aren t easy to get, so you will need...
Obviously the objective of business isn t to break-even, but to make a profit and avoid losses. What we often hear though,...
Now you need to know indirect costs. Let s say they are  30,000 per month. To work out break-even sales - take indirect co...
Things to consider and implement... 1. A market ing pl an is t he answer t o avoid disappoint ment . You need t o consider...
2. Sel l ing is an area of t en overl ooked in many businesses. Peopl e t hink t hat market ing shoul d do t he whol e job...
3. Cust omer Service is just as import ant as market ing and sal es. When you ve worked really hard to get enquiries and s...
Doing It   1. Operat ing your business and del ivering t o cust omers is t he meat y st uf f . Things you need t o conside...
2. The f inancial side of t hings is where many businesses f ail . To avoid being one of t hem here s what you need t o do...
d. Get t ing paid by cust omers is the ultimate test of all your hard work. If you ve delivered a great product  service w...
-  Measuring your customer payment days is a good way to gauge how successful your efforts are. i.e. you can calculate the...
e. Suppl ier Payment s is an area where much cash can be freed up to improve your cash situation. Paying suppliers too muc...
f . St ock Management is vital to ensure you have the right products ready to sell, when customers are ready to buy. It s ...
g. If you run a service-based business, Job Management wil l hel p you to get maximum efficiency and profit from your jobs...
-  Closely monitoring job efficiency allows you to learn from problems and tighten up your quoting in future to allow for ...
3. Business Guidance Report ing   now it s time to see if all your efforts have been worthwhile i.e. if you made a profit ...
ii. Profit and Loss Statement with actual versus budget is vital, so you can see if things are on  off track. Once you ve ...
iv. Job management reports are vital to ensure profitability and to compare your actual versus quote  budget. Ideally you ...
It s quite common for a business to be making profit but fail to manage these issues and run out of cash. Making sales is ...
A Cash Flow Forecast allows you to see into the future and take action before it becomes a crisis i.e. you run out of cash...
4. Operat ional   Process Syst ems incl uding checkl ist s, pol icies   procedures. This enables the business owner to sta...
Boring St uf f     Tax  Compl iance et c. 1. GST  PAYG  Superannuat ion shoul d al l be abl e t o be handl ed by your acco...
2. WHS  Work Heal t h and Saf et y  is an area where many business owners don t f ul l y appreciat e t heir personal l iab...
4. You need t o consider what st ruct ure you wil l operat e your business under. Will it be as a sole trader, partnership...
As you can see from all of the above there s quite a bit to consider when running a business. Don t panic though, just rev...
CFO On Call and the author have used reasonable care and skill in compiling the content of these materials. However, CFO O...