There’s a saying in business, “You can go broke making a profit.” And another, “Cash is king. Profit is theory.” As you know only too well, you don’t pay rent, meet payroll or pay your bills with profit. You pay them with cash. A restaurant can make a lot of […]
For many, the word ‘budget’ is about as appealing as the word ‘diet’. It seems to imply what you will go without, rather than what you will achieve. To a successful business owner, however, the word ‘budget’ has a very different meaning. It’s more like a map than a diet. […]
Larger businesses have a Chief Financial Officer (CFO) on staff. But what can small and medium sized businesses do in this regard? Clearly, larger businesses can afford an in-house CFO. But it goes beyond an affordability issue: Large, successful businesses also understand how crucial the CFO role is to their […]
Are you still pricing your menu by what everything costs? Here’s why you should abandon that spreadsheet and start basing your prices on value instead.
As much as you like making and serving great beer, running a successful microbrewery involves looking after your accounting systems as well as your customers. Of course, the less time you spend on administration, the more time you can spend working on your killer recipes. Which is why you should […]
Mark Zuckerberg can teach you something about food, but it’s not social media. Last week I was served one of the laziest, most un-inspiring dishes i’ve had the pleasure of shaking my head at. Described on the menu as a “superfood salad” it came to the table as 4 bland […]
Just a quick FAQ for those small business owners, extracted from business.gov.au: What has changed as a result of the 2015 Budget? Under the changes to simplified depreciation rules External Site for small business, you can: immediately write off eligible depreciating assets costing less than $20,000 each, as long as […]