Mid-year Review
We are now at the midpoint of the content journey that began with post 1 and, for many South African businesses, at or near the midpoint of the financial year. This is the right moment for a structured mid-year review. A mid-year financial review is not just a performance check. It can be used as […]
The REAL COST of not knowing your numbers
Over the last couple of months, the blog posts have made the positive case for financial clarity. The improvements it brings to decision-making, the confidence it creates and the strategic advantage it provides. In this post I want to make the opposite argument. I want to show you what financial ignorance actually costs. As specifically […]
Invoicing best practices: how to get paid faster
Cash flow is as much a timing problem as it is a profitability problem. You can have excellent margins, even huge turnover, and still experience cash flow pressure if the gap between delivering your service and receiving payment is too big. For most South African service businesses, that gap is wider than it needs to […]
Bad debt: How to best handle it in your business
It is good business practice to have a policy in place that stipulates how your company deals with bad debts. In case you aren’t aware, a bad debt is when an invoice is not going to be paid by a client or customer. It is a debt to you that has gone bad. Besides hindering […]
Xero Add-ons – Making it better
Xero is a powerful accounting platform on its own. But one of its greatest strengths is its ecosystem of integrations, or Xero Add-ons as they are called. These extend the platform’s core functionality in specific directions without requiring you to switch systems or manage separate data sets. For South African SMEs, the most valuable Xero […]
Surviving versus Thriving
South Africa has one of the highest small business failure rates in the world. Various studies and industry bodies, as well as the business owners themselves have noted that a significant proportion of small businesses do not survive beyond their first five years. The are many businesses registered but then fail to survive. The causes […]
Accountability – Because Willpower Is Not Enough
Willpower is a finite resource. Every South African business owner I have worked with has experienced this at some point: the goal that felt vivid and urgent in January becomes background noise by May (or earlier), crowded out by the daily demands of running a business. This is not a character flaw. It is a […]
Bank reconciliation explained: how to do it right
There is a financial task that most South African business owners know they should do regularly. However they more often than not postpone and sometimes avoid entirely. Until a problem makes them do it. The Bank Reconciliation This task sits somewhere between necessary and mind numbing of many business owners, hence why it is one […]
Busyness is not the same as profitable
Busyness has become the ultimate badge of honour in South African business circles and around the world. You only have to look at social media to see how people are telling you how “busy” they have been.
The Non Accounting Speak Cash Flow Statement
In a previous post, we unpacked the income statement, which tells you whether your business made a profit. In this post we wrap up the financial literacy mini‑series with the report that confuses most SME owners even more: the cash flow statement. And honestly, it is the most misunderstood report in small businesses across South […]