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Search result for tag "business management"
Continuing from our original discussion “Should I pay myself a wage” The second issue that needs to be addressed is the effect it has on perceived success or failure of the ongoing trading of the operation.  Quite clearly if I don’t pay myself an acceptable wage, my pro ... read more
“Cash is King” ​ Cash flow is generally a misunderstood concept but importantly it is the lifeblood of any business operation.  As the saying goes “Cash is King”, without it your business cannot pay its expenses on time and this can have a “cr ... read more
Bank Reconciliations Why bother with bank reconciliation?  Often a tedious task that most struggle with.  So why bother?  Actually you need to put a bank reconciliation into perspective, understand its purpose and then decide whether it is appropriate for you to undertake.  Ca ... read more
Breakeven - it’s a “word” thrown around a fair bit, but what exactly is it? ...... Breakeven is the level of sales you need to achieve in order to cover your costs.  So if your costs are $100,000 for the year - you can calculate breakeven beforehand and know that you ne ... read more
Should I pay myself a wage? is a question often asked by small business people.  And the obvious answer is a great big “yes”.  There are actually two issues here:        1.      How big or small should it be, and       ... read more
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