Do your Annual Financial Statements look sexy?
Sexy? Consider the following scenario: Your business is running okay. Some months are not so good and some are better. You now wish to expand the operation and need some finance to do so. When you ask the accountants (or whomever is) to prepare them, the picture does not look good. This is often the […]
6 more ways you are throwing money away
“Let’s meet for coffee” Everybody loves meeting someone or many people for a drink. Possibly the most common is a cup of your favourite brew. This is a legitimate reason to do business and network with important connections, but it can get out of hand. These “business meetings” often become just a general, friendly chat […]
The Tax MAN! The fear attached
The Tax Man? Noooooooo! If you say tax man (SARS (South African Revenue Services) to South Africa) to anyone, they will shudder in fear which, in a lot of cases is unfounded. There are various reasons for this fear: Because they have not submitted tax returns in years, The believe that the tax man or […]
Accountant – friend or foe?
An Accountant does what? The burning question that gets asked frequently is this: “What do accountants actually do”? The answer can be as simple and as complex as the accountant wants it to be. I do not like answers to questions to be complex. This is because 9 times out of 10, it just confuses […]
Do you have the accounting know-how required to run your business?
Many entrepreneurs who feel confident about their accounting know-how take it upon themselves to do their own accounting function. The thinking behind this is actually sound: “keep your fingertips on the numbers the business is producing”. Producing the goods Unfortunately, many business owners (despite having the skills to do so) don’t fully understand the rigours […]
Counting the cost.
Service is “too expensive” The focus of most business owners is the cost of any item or service. There are always ways to cut costs in a business but often the business cuts the wrong costs. The essential services are first to either get cut or not to pay for a service. Countries across the […]
Physical exercise can be similar to running a business
We all know that regular physical exercise, in fact mental too, is good for you. Yes, you heard correctly. I am saying that training for an athletic event can be compared to running a business. More specifically, a small business of less than 10 people. I am pretty sure it applies to bigger companies too […]
How to make your business more efficient
There is a known fact that if one object is behind another object that is moving, it will not take as much energy to keep up with it. This is most evident in sports. In motor racing, it’s called a slipstream. In cycling, it’s known as drafting. It happens in running and swimming too. Any […]
Accountants and bookkeepers – Do I need them?
I thought bookkeepers and accountants were the same? Not a lot of people actually know what the difference between a bookkeeper and an accountant is. This creates confusion as to which one they should hire and do they need one (or both)? Why you should consider hiring someone to help manage your accounting, to begin with. […]
Financial roots: why should they run deep?
In trees: When is the best time to plant a tree? 25 years ago, BUT the next best time is now.” Deep roots are imperative to a tree for 2 reasons: 1. They provide stability to the tree in tough conditions. A strong wind or rough storm will easily blow trees over but if the […]