Customers

Customers

Are all customers equal? Conventional wisdom tells us that ‘All Customers are Important’ and that the ‘Customer is King’. Whilst I do agree that it is important to look after your customers, I’m not sure I subscribe to the belief that they are all equal. Broadly...
Mind the Cash Gap!

Mind the Cash Gap!

Understanding and managing your cash gap is one of those business fundamentals that you must get right in order to grow a sustainable business. A cash gap is basically the number of days between a business’s payment of cash for goods or services and the receipt of...
Systemisation

Systemisation

If you have any intention of selling your business one day this may be of interest to you. A colleague told me recently that the average non systemised small business sells for a multiple of 2.2 times operating profit while the average systemised small business sells...
7 tips for getting paid on time

7 tips for getting paid on time

Getting paid on time is vital for good cashflow. Here are 7 tips for you to consider for getting paid on time:   1) Define a clear debtors policy for your business. Be clear on your terms, when and how late invoices will be chased and escalation levels. Then...
What is your breakeven?

What is your breakeven?

So what is breakeven anyway? It is the point at which sales or invoiced revenue provides sufficient gross profit to cover cost of sales and overheads. At this point there is no excess profit and no loss. So, how well do you understand your breakeven point? Do you know...
The impact of discounting

The impact of discounting

Have you ever considered the impact of discounting on your bottom line? So you want to improve sales on a particular revenue stream, product or service. What can you do? For many, the default answer is to discount, it’s the easiest option and it works right?  Not...
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