Be vigilant for sophisticated scammers targeting small business

Written by Lucas Meadowcroft, Crofti. With the end of JobKeeper and overall financial pressure caused by COVID, business owners are particularly prone to increasing and ever sophisticated criminal attacks online. Up to August 2020 in Australia, Scamwatch had received a 55% increase in reports of cyber-attacks, compared with August 2019, putting Australia in sixth place [...]

The Tax man has got extra money in to fund his actions to get your money in

Superannuation Guarantee Contributions are centre-stage and in the spotlight…this is one show you don’t want to star in! In last year’s budget the Tax Man was given an extra $15,000,000 of funds specifically allocated to dealing with misconduct by Employers who often…sometimes always…miss their cue when it comes to their performance with Superannuation payments. In [...]

Now is the time to give those skeletons in the closet the decent burial they need!

Most businesses have a few nasty little surprises…usually in the form of future losses…hiding somewhere in the deep, dark, depths of their Balance Sheet. Everyone is guilty to some degree, because your Balance Sheet is the place where good money can go and hide until it withers away and eventually dies and disappears. You cannot [...]

The Customer is always right…until they’re wrong!

The principles of good business #101 dictate that the customer is always right…but this standard only applies while they are right for your business. With a “Tsunami of bankruptcies” forecast after the COVID 19 debt assistance measures finish, making sure you get paid for your sales takes on even greater importance. Performing a complete review [...]

There has been no Return on Investment…

Until the Business owner has been rewarded for his labour and contribution!Mere survival for a business is not an option. Your goal for the business must always be to grow and prosper and you need to have your own unique plan to get you there! If you know the “Drivers,” keep mindful of how you [...]

To make a rich and satisfying chicken soup you must first catch your chicken!

In the same way that the basic recipe to make the best chicken soup is heavily reliant on the chicken, your basic recipe to build a better business will always lean most heavily on cash flow to keep it bubbling away to perfection. Cash Flow is the lifeblood and the main ingredient of all successful [...]

There is only one valid reason for discounting your prices.

If you’ve ever wondered why we have “Discounting Events” …like the Boxing Day Sales for example…I’m here to dispel the mystery for you. The only valid reason for ever discounting your prices is to turn stock on the shelves into cash, so new stock can be purchased! Stock on the shelves is cash tied up [...]

It’s all in a day’s work… But you have to do it every day!

If you promise me that you will diligently attend to these 5 basic “Must-do’s” …every day and without fail…then I can promise you a better and more prosperous year ahead. Deal? Whichever way you look at it…through whatever colour your glasses may be…2020 was not famous as a year of great vision, filled with vast [...]

Every Business needs to recognise and nurture these 3 main assets…

Whether in testing and uncertain “COVID” Times or in better and more positive building and Development circumstances, these 3 main assets are the backbone of every business and deserve the main focus of your care and attention. They are: 1.  Your customers. …because without them, who would you sell your products and services to. 2. [...]

Surviving Downturn

Alan Heiser talks to Ashwin Segkar at ABC Radio about the challenges faced by small business owners during 2020, and offers insights in to how he has helped these businesses and self-employed people make it through the economic hard times. […]