Disaster recovery – are you prepared?
What if disaster strikes? What if your Computer crashes? Computer is stolen? Office is broken into? Best selling product stops selling? Business partner leaves or passes away suddenly? Records archives burn down? How do I prepare for such events? Great question! The answer – BACKUPS. The magic number of backups is 3. One with you possibly […]
Records of expenses are critical
Records and business Accurate records of expenses are vital for business and without them, your accounting will never make sense. Nothing will be accurate. This will only lead to problems and much frustration down the road. Consider the following scenario: At the till or restaurant, you make a note of keeping the slip for your […]
Technology will save me!
Even accountants like technological advancements. They don’t just sit in the corner smashing away on the keyboard. It is true. Technology has brought a whole new level of convenience to a lot of life, even accounting, but it is also true that it does not solve everything. Accounting packages Accounting packages simplify the accounting process […]
Is that employee the correct fit?
In business, your employees are your greatest asset but your greatest enemy too. If they are the right person for the job, they are a productive part of your team. They are then driving the company forward. On the other side of the coin, if they are not the right person or the right fit, […]
Just one more role to go
All roles in one You own your own business, great! You started in your home and you did everything. Nothing wrong here. You were (and still are) excellent at what you do, so your company grew and continues to grow. One extra person became two, became five etc. These helping hands help you manage to […]
Mixing personal and business accounts
Why separate? Failing to separate personal and business accounts is a common and sometimes dangerous mistake people make. To some, it might seem obvious to separate the two accounts. However, some people will expose their business to risks by combining the two accounts. Ideally, there should be two different bank accounts – one for business […]
Hidden Costs – how they are killing your business
Hidden costs accumulate quietly in the background, month after month, never large enough to trigger alarm in any individual month, increases often blown off as inflation or the usual annual increase.
What is the PCP Method?
Let me ask you a question that most accountants never ask their clients. What is your business actually for? Not what does it do. Not what does it sell. But what is it for — at its core, in the way that gets you out of bed in the morning and keeps you going when […]
Why most South African SMEs run out of cash before they run out of customers
I want to start with a story that I have heard more times than I care to count. A business owner comes to me — frustrated, exhausted and confused. Their order book is full. Their phone is ringing. Clients are happy. On the surface, everything looks like success. But underneath it all, there is a […]
Performance is everything — but what performance means is entirely up to you
Different meanings Ask ten South African business owners what performance means to them and you will get ten different answers. One will say it is turnover. Another will say it is profit margin. A third will say it is how many clients they retained this year. Someone else will say it is whether they made […]