What’s a good gross profit margin for my ecommerce business?
The best businesses in the world have strong gross profit margins. Here’s how to calculate yours and check your financial health.
How to use your break-even point to make spending decisions
What impact will added expenses have on your business? Instead of hoping for the best, calculate your break-even point and make informed spending decisions.
How to build a financial budget for your business (and why you need one)
There are few words in the English language that conjure feelings of scarcity and deprivation like “budgeting”. Our amygdala responds to the word budget in the same way it responds to the word diet — with utter dread. Budgeting, like dieting, is disliked because it requires determination. It requires us to be disciplined with our…
Why your digital agency is hard to scale
Agency and service-based business models don’t scale like software or product-based business do. But why is that?
When can my agency afford to hire my next employee?
For owners and operators of service-based businesses, growing pains are inevitable. But there are tried and tested formulas for understanding the right triggers or actions to take to ensure the growth in your agency is sustainable from both a workflow perspective and a cash flow perspective. In this article, we tackle the important question of…
Some tax advice for End of Financial Year…
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…
The True Cost of Discounting
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…
Why Your Service Business is Hard to Scale
Reid Hoffman is a legend in the world of entrepreneurship and startups. He was one of the Paypal Mafia. CoFounder of Linkedin, successful VC and advisor to many high-growth startups. He is an icon in the world of Silicon Valley and business. In his recent book, Blitzscaling, Hoffman provides us with his assertion on when…