Reinvesting money in your business is not a bad thing if it is done consciously. Now, what do I mean when I say that it’s not a bad thing if done consciously? Well there are two SUPER important things you MUST have in place: 1. A robust profit plan 2. A cash management strategy. Reinvesting […]
Category archives: Profit First
Driving towards the vision of success
I want you to understand clearly and truly what success means to you! I often see business owners heading in a direction that’s not congruent with what they actually want from their business and their life. Make sure that you are heading in the right direction! Sit down and answer the following questions: What does […]
Time for a pricing review?
Today in a FB group I saw a post which read along the lines of… “I have just started a VA business and we are the cheapest rates I have ever seen, no one is cheaper, we charge 70cents an hour” (Yes seriously that was the price) “How do I get clients, no one is […]
UNTIL YOU MAKE A PROFIT, YOU DON’T HAVE A BUSINESS
I have heard it said before that, until you make a SALE you don’t have a business…but…I believe that…on top of that…until you make a PROFIT, you don’t have a business either – you have an expensive hobby. Years ago, when I wasn’t making a profit, when I was “reinvesting” all the sales revenue in […]
I DON’T NEED A FINANCIAL PLAN, I CAN GO ON MY GUT FEELING
Intuition is really key in our businesses and in our lives…but I don’t believe that you should SOLELY rely on it when it comes to the financial health of your business…I believe that you need a robust, implementable and systemised, financial plan to achieve the financial results that you want. After all…money manifesting required action […]
WHY YOU SHOULD NEVER DISCOUNT YOUR SERVICES
When someone asks for a discount it is because they don’t truly see your value. If you give them a discount then that will forever annoy you (consciously or subconsciously) during the relationship since others are paying more for the same level of service. You will not want to serve them at your […]
Do you really know how much profit you make on each and every sale?
Do you even know if you make a profit? Many businesses are unaware of the exact profit they make as they don’t monitor closely enough the different elements that go to make up the sale. I was speaking to a new client yesterday on exactly this topic. His business has a number of projects that […]
9 tips for maximising revenue in your business
When it comes to business growth, we all want to make sure that we are maximising revenue in our businesses…well here are 9 tips to do just that. Maximising revenue tip number 1 – Create a client assessment chart Create a client assessment chart. You can do this on a piece of paper or in […]
#AskAnnette: Can I use Xero when I do Profit First?
Can you use Xero with Profit First? I often get asked by clients, and people on Social Media if you can use Xero with Profit First – if both of those go together ok, or if implementing Profit First, means that they have to ditch Xero. Profit First is a cash management system (which helps you […]