business development

Evolution Accountant welcomes Bill Parkes

Evolution Accountants welcomes a new team member… Welcome Bill Parkes. Bill is at the pinnacle of his career and brings immense accounting, tax and business development knowledge to our team and is an expert in interpreting legislation. Agian... Welcome to the ever expanding Evolution professional team.

Secrets to improve your cashflow

Many small to medium businesses we handle in our Accounting Practices at Springwood and New Farm suffer from cashflow starvation and its impacting the bottom line!! When debtors are slow payers or they simply avoid your phone call and letter thats a sign that you need to change your process and procedures/systems. Its a red flag that your not managing your business and starving it of cash... we all know what happens when we starve, our mind set changes from abundance to scarsety and that effects the way your approach business decisions not to mention opportunities dry up. When cashflow dries up, its a red flag for you to change your business approach and debtor proceedures Secrets to improving your cashflow Increase you price to compensate you for the extra debt your business is taking on Make your clients pay a significant deposit up front Don’t deal with clients that are not meeting your terms Ensure you have you debtor collection followed up regularly Have an early payment discount for paying within your terms Have late payment fees/penalties if your payment terms are breached Ask for progress payments Take all forms of payment Credit card, direct deposit, Paypal, Bartercard   You options are limited if you dont want too or cant do any of the above but you can: Seek a bigger overdraft which will cost the business in interest Seek debtor funding (3rd parties pay you instantly and collect the funds themselves at a cost of around 5% to you) You inject more of your own money in the business (which is not recommended)   writeen by Jye Amery CPA Evolution Accountants New Farm & Springwood Ph     1300 506 664 Fax   07 3011 1028    

Growing your business – Step 1 – Know your areas of improvement

By focusing on a few key strategic focus points, one business worked out that they could potentially turn their profits from $15,000 to $100,000 in one year.  This sometimes seems too good to be true…..this does not happen overnight, but if you don’t focus on the important focus points for your business, it might never happen….that is a certainty!

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Increase your profits by 131% without a 1 extra customer

There are only 4 ways you can do this: Increase your number of customers Increase your number of transactions Increase your average sale Increase your effectiveness

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Think opportunistically…..

Tip #1 Adop the right mindset: In a downturn, having the right attitude is more important than having the right answers.  Take an inventory of your past successes – the achievements that have occurred despite difficult circumstances.  Believe in yourself.  Focus your energies on what you’re good at.

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