So many CEOs like to romanticise business as being like family. They try to instil a culture of unity and closeness, building a bubble of safety and unconditional love. They treat the business just like an extension of their real family. They think of their business as their baby. This analogy is just plain wrong.…
What’s the difference between an Entrepreneur and a Freelancer/Solopreneur? Many business owners label themselves “entrepreneurs”. Watch this video to understand if you’re acting like one. Transcript of the video below. https://sbo.financial/wp-content/uploads/2022/05/SBO-Are-you-a-freelancer-or-an-entrepreneur.mp4 Are you a Freelancer or an Entrepreneur? That’s the first question I ask many of the founders I meet for the first time. I…
It’s the end of the month. You’ve just paid payroll and the monthly rent. You look at your depleted bank account and realise you don’t have enough cash to pay the deposit for your next order of stock. It makes no sense. Despite a healthy month of sales, you don’t have any cash in the…
“My accountant doesn’t get my business” – something that we hear all the time from the entrepreneurs we work with. If you throw out terms like CLV, MRR, CAC and Churn to accountants, most of them will be left scratching their heads wondering if you are speaking finance, English or PHP. Professional service providers are…
As another financial year comes to close I make a habit of reflecting on the year that was. This is from the lens of personal development and company milestones -what we achieved, what we failed at, what we can do better. We don’t normally share these publicly. Not because they’re not valuable – but because…
It’s the end of the financial year here in Australia – the perfect time to reflect and take stock of our finances. It’s our favourite time of the year at SBO because it’s when we get to calculate the dividends our clients can pay themselves. Uh, what dividends? For many of the clients that joined…
As explained in Part 1 of this series, discounting is a legitimate tool if it’s used strategically – not as a ‘run-of the mill’ approach to magically improving your top line. The two reasons when discounting can be used effectively are: To move old or slow moving stock; To acquire new customers in certain scenarios…
It’s critical to prepare for this outcome to ensure the survival of your business. Rowan Grant and I are hosting a special webinar where we will be unpacking a playbook we have developed on how to prepare your business for an economic downturn. It’s a framework we’ve kept in the bottom drawer for times like…
The Australian Government and banking institutions have united to assist small businesses weather economic uncertainty. We have prepared a live document to monitor and track all of the grants, tax breaks and assistance packages available to Australian Small Business. The objective is to centralise all of the concessions available to ensure every small businesses can…
Italy has basically shut down it’s entire country. India has closed the borders and suspended all tourist visas. Both demand and supply chains are being disrupted, with many economists fearing the virus could trigger the next economic recession. In order to stave off a looming recession, the Australian Government has announced its $17.6 billion Economic Stimulus package. The…