Business online
New businesses often have problems initially, but it's the lateral thinking entrepreneurs who can see the business through.
STARTING A BUSINESS
MONEY & FINANCE
Mastering money and finance is a core skill when you're running a start-up business. Peter Switzer has invaluable advice on the best low cost business ideas, getting finance for cashflow or growth, and making the most of Government assistance and grants. Learn how to make cash forecasts, follow the money trail, and maximise your profitability. And make sure you understand how Australian tax law applies to your business.
The views presented in these articles are not Optus' views. This article contains general information only and is not intended to be relied on as legal, financial or professional advice. Readers should seek their own advice based on their specific business needs.
Digging for Tax Treasures
Despite the importance of tax to your business, do you really know the ins and outs of all the laws associated with it?
Ways to Keep Cash Flowing
Cash flow is crucial to the health of any business. Here are some tips to assist in keeping the cash flowing. If you need to give customers time to pay and you are sure they are reliable, then work out credit terms for them.
Help from above
One of the greatest problems with small business people is that they spend too much time working in their business and not enough time on their business.
Up close and personal with the ATO
Did you know that a small business can get a visit from the Australian Taxation Office with the surprising message, 'We're from the ATO and we want to help'?
Wealth creation
Over the years, I've pondered what really holds people back and I reckon the greatest hurdle to success is old habits. You see it with athletes when they change coaches, or even get a coach for the first time.
Cash forecasts
There's one thing for certain and anyone in business knows it. If you don't understand the impact of a cash flow gap (the time between cash going out and cash coming in) you can turn a profitable job or project into a financial mess.
Save time, save money
When it comes to tax, most people don't know what they don't know! That's why seeking out expert help is important. The key to running a business is finding experts, such as an accountant, business coach, bank manager or lawyer, who can add value.
A taxing issue
A mate of mine is a big business traveller and he and his wife own a private company. And because of the tax concessions he accesses, his spouse thinks it's better value for him to sleep away from home...
A necessary expense?
What expenses can you claim before you start your business?
Home-based business insurance
When choosing an insurance company, it's crucial to do the research to find the best cover for the business.
Money trail
There are lots of reasons why your business might need extra money. You might want it to start your business, grow or finance a new project or to help cash flow.
Lease rather than buy?
What should you know about leasing? A lease is an agreement or contract giving someone (the lessee, ie. you) the right to use, for a set time, property legally owned by someone else (the lessor).
A man and a woman
It is popularly asserted that bank lending has become gender neutral.
Loans -- getting other people's money
Most businesses, big or small, need to borrow money. The borrowing requirements for various small businesses can be different. Also, many such borrowers might be first-timers.
Food for thought
With more than 450 million sandwiches consumed in Australia every year at a value in excess of $7 billion, the once humble sandwich bar is now big business.
Picking a winning franchise
Doing a fair amount of research before buying a franchise is important so as to ensure you pick one that will enjoy longevity and won't become a decision you regret.
How do you make money?
It's one of the most important things for making a business run. Here are some tips on how you can build your wealth. Edward de Bono said great business owners think outside the square; they are lateral thinkers.
Negotiate on price
Negotiating can be tough, but knowing the market and doing the research on a product or service you wish to buy can put you in a better position when it comes to doing a deal.
Let's Get Structural
Before starting your own business, it's important to know what you are getting in to. Here are a few tips and ideas to get you started.
Tips for home-based businesses
Operating a business from home can be a great opportunity, but is something that requires discipline.
Start up steps
Have you got a great business idea, but don't know if you're cut out for the work, or even where to begin?
Sink or Swim?
What questions do you need to ask yourself before you start up your own business? Starting a business doesn't necessarily mean succeeding in business. Approximately 80 per cent of businesses fail within the first five years.
Fill the cracks
Here are a few tips to consider to ensure your business persists through tough times.Churchillian,
What's the lesson from the Big Mac?
A few years ago it became apparent that all was not well in the land of fast-food giant McDonald's.
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Switzer's Hint
The truly greats of mankind's history never became great by accident or by doing it the easy way: "Great things are not done by impulse, but by a series of small things brought together." Vincent Van Gogh
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