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…
Congratulations. You’re once little Ecommerce business is growing to the next level. In just a few short years, you evolved from selling stuff from your garage to now managing a full-fledged warehouse operation. An operation complete with a team of packer and warehouse managers. But you’re growing so quickly that even your current warehouse operation…
I cut my teeth in corporate advisory doing company valuations. Valuations of companies of all industries, shapes and sizes. The purpose of these formal valuations was to ‘tick a box’ due to one (or more) of the following events: A marriage breakdown – a business needs to be valued to calculate the division of assets.…
It happened again. A friend, who I haven’t spoken to since this time last year reached out to ask a quick question about his tax return. It went something like this: Hey Jason, hope you’re well! With end of financial year coming up is there any tax planning advice for me reduce my tax? It’s…
Discounting. I’m guilty of it. You’re guilty of it. We’re all guilty of it. It’s the default response when we’re trying to win new business. To make a proposal more attractive. A tactic to close the deal. It’s easy to knock-off 10%, 15% or even 20% off the sales price. We can get so obsessed…
Throughout my 15+ year career as a chartered accountant and business advisor, I’ve worked with hundreds of businesses—ranging from small businesses and startups—all the way to publicly-traded companies. I’ve stripped back the covers and shone a clarifying light into the darkness of their financials—helping founders and managers understand the clues that are hidden in financial…
It’s been about 3.5 years since I quit my job to start my business, SBO. Over the weekend, I was looking back at the financial forecasts and projections we set ourselves right at the beginning of starting the business. It is diagrammatically shown below. I LOL at these lofty projections. In classic startup style, they…