Time wasters: Are you victim?
Your time is worth something. Believe it or not, your time has a value to it. BEWARE THE TIME WASTERS! The concern for you is this: Some people more than others have a third hand – their phone. You cannot constantly be “too busy”? Do you get to the end of the day and think […]
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 […]
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 […]
4 ways to get control of your accounting paperwork
Paperwork. It’s such an important part of your business. And when that paperwork is related to accounting, tax and payroll it’s enough to strike fear into the heart of any business owner. The reason is fear of the unknown. Many business owners simply do not know enough about that side of their business. In this […]
5 Cash Flows Problems AND how to solve them
Cash flow problems? What is that? Cash flow is the number one problem in any business but it impacts smaller (newer) businesses more. Every business will encounter a cash flow problem at one time or another. Fortunately, most cash flow problems can be prevented with a bit of preparation and the right strategy. Here is […]