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Search result for tag "income"
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
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
Continuing on from Part 1….   For those that don’t sell goods at a margin then simply knock out a budget for the next 12 months and “presto”, you’ll know what sales numbers you need to aim for. Just bring them back to a number you can readily understand and ... read more
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