PROFILE OF MICHAEL NORRISH
A downloadable copy of my profile is available here.
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STARTING A BUSINESS FROM THE GROUND UP
All too often, I come across people who have endeavoured to start their own business and have failed. The reason for that mainly, is that they did not have an understanding of all the steps necessary to develop a “start-up” business. Starting a business requires attention to detail and a mindset that exemplifies diligence and persistence. I have prepared a “checklist” of some of the matters that need to be addressed when commencing a business from scratch. The content is extremely relevant to anyone wishing to get started in becoming successful in their business endeavours. It may be helpful also to anyone who has already commenced business to ensure they haven’t overlooked anything!!!
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PROFILE OF EMMA McQUEEN
Emma is a Business Coach but with a difference. She focuses her coaching attention on ensuring that CEO’s, COO’s and Board Members fully understand how to extract the best out of how they manage their daily operational activity. She will be able to provide all necessary guidance, inspiration and motivation to anyone with a desire to succeed in business today. I commend her to you. Please download Emma’s profile by clicking the link below.
FIVE TIPS TO STARTING A SUCCESSFUL BUSINESS – RICHARD BRANSON
I received this article via Linkedin and consider the advice ex Richard Branson to be simple, effective and to the point. Worth a read. The content is appropriate to anyone wishing to start a new business successfully. Far too often, we make a simple task just to complex!
We all talk about networking but do we have a networking plan?? I read an article by Debra Taylor in one of the national newspapers and am of the view that it is a very good article. It is not my authorship but is Debra’s and I make no claim on the content. The content is however extremely relevant to anyone wishing to network successfully and I commend it to you.
PRICING FOR PROFIT
Do you know the difference between “mark-up pricing” and “profit margin pricing”? Sadly, not all businesses understand that difference! This article attempts to demonstrate the difference between the two mechanisms so that business owners/managers can understand the most appropriate method for their business.
Do you know what your break-even position is in your business? Most businesses do not understand what it is or how to calculate it! This article attempts to assist with that understanding. Have a read.
UNDERSTANDING BALANCE SHEETS AND INCOME STATEMENTS
What do you know about your Balance Sheet and Income (Profit & Loss) Statement? Do you know how to interpret them? Do you know what they mean to your business? Read this brief article to learn more.
Successful businesses understand the need to plan well to determine potential future outcomes. Businesses that decide not to formulate a carefully researched and compiled business plan are unlikely to achieve the required profitable outcomes. The adage…”Fail To Plan…..Plan To Fail” does apply!! Download this article by clicking the link below to understand more about business planning.
FUNDING OPTIONS FOR TRUCKS
Are you a truck owner? Do you understand the various financing methods available to you? Would you like to have a brief overview of the financing opportunities that are available?
BORROWING FROM A FINANCIER
What information do you need to provide when you want to borrow money from a financier? How do you go about it? Read this article for some pertinent information.
TIPS FOR BUSINESS SUCCESS
Here are some bullet points for you to consider to assist in making your business successful. Please click the link below and use the content as part of your business planning experience.
I know not everyone likes acrostics!! I am not a huge fan myself but in my opinion this one is helpful and plays on the initials of the word SUCCESS.
WORKING CAPITAL and CASH FLOW – THE DIFFERENCE
Generally, most small businesses do not understand the difference between Working Capital and Cashflow. This article endeavours to explain it in very simple terms and provides a formula for calculating Working Capital requirements. It also discusses the Working Capital Ratio and the Acid Test Ratio which is critically important to ensure a business is viable. Click the below link for a free downl0ad.
CASH FLOW IS KING!
Cash flow is vital to any business. To not have sufficient is a recipe for disaster! This article explains a little about the necessity for cash flow, what it means and where you may have to go to find it.
DEBTORS – YOUR MONEY
A friend and colleague of mine – Adrian Stead – operates Accounts Receivable Solutions WA – which specialises in assisting businesses in collecting monies (debtors) that are owed. My experience is that most businesses “do not like” having to ask for payment for products/services rendered. To that end, Adrian can assist by acting as your Financial Controller and collecting outstanding funds for you. Have a look at the article and click the below link for a free download.
VENTURE CAPITAL EXPLAINED
Are you confused about venture capital? Do you need some and don’t know where to get it? Download this article as it contains some pertinent information on the topic. Download by clicking the following link.
TEN TIPS TO AVOID BUSINESS FAILURE
We all want to be successful in business today! Sadly, that is not a reality for some business owners. Here are some issues (gleaned from the experience of some failed businesses) to avoid becoming a casualty. To get a list of things that you need to implement to ensure you are not one of the casualties click the link below.
There is always a tendency for SME businesses to discount their prices to gain market share. This is particularly evident when a “new” business commences operations and wishes to compete against an established business. If that is your view then you should read this article. There are better (and more profitable) strategies than “discounting”. See the impact of discounting by clicking the link below.
SOME FINANCIAL TERMS
Most start-up businesses are somewhat mystified by some of the terminology used by accountants and bankers. Here are some of the more common terms that are used today and which are defined. Please download a copy by clicking the link below.
CHECKLIST FOR PRUDENT FINANCIAL DECISIONS
A financial planning colleague of mine – Sam Gray from Incito – has provided a checklist of items that you need to consider when making a financial decision. The checklist asks the questions that will assist in you determining your investment strategy. I offered to place the article on my website as it contains some very pertinent and practical assistance. I commend the checklist to you. Please download a copy by clicking the link below.
Are you afraid of public speaking as much as I once was?? Petrified was the word that came to mind when I was first required to provide a public speech!! I overcame those difficulties by application of a couple of simple strategies. They are in the attached article and I commend the article to you. Please download a copy by clicking the link below.
I AM NOT AN SME YOU PATRONISING ***!”!
This is an article by Robert Craven who is a keynote speaker and author and is based on his UK experience. I found it interesting and reckon it also has some application to small businesses in Australia. I claim no authorship.
I think it fair to say that we are all needy of a reminder about time management!! I am constantly challenged daily to maximise my time so that I can generate invoices! If I procrastinate (and I am inclined to so do) I am not being productive. No production = no invoices = no inward cash flow!!! This article may be of some help.
KILLING YOUR BUSINESS WITH DISCOUNTS
Most retailers are of the view that if they discount their prices they will achieve a greater profit as a result of increased sales. That is not (necessarily) the case. This article by Andrew Carter provides a good insight to the discounting trap. It complements my article called-“Disatrous Discounting” (see above) and both a worth reading.