Focus on Cash Flow (Part 3): Optimising Stock Management

Stock is a core focus of many businesses – customers demand it, suppliers provide it and financiers securitize it.

Here are some strategies to ensure you’re getting the most from your stock management systems and processes…

Focus on Cash Flow (Part 2): Optimising Supplier Management

Many business owners and managers overlook the importance of supplier management, instead focusing on debtor collection and stock control, but they are doing themselves a dis-service. Here’s why…

Focus on Cash Flow: Optimising Debt Collection

Are your debtors using your money to fund their business? Implementing a combination of preventative measures and monitoring initiatives can help minimise the risk of bad debts and optimise cash flow to your business. Here’s how…

Preparing For Australia’s New Securities Law

In October 2011 there will be an overhaul of Australian laws governing the taking of security interests and transactions relating to property (except land).

The practical impact of these changes is far-reaching and now is the time for business owners and managers to prepare their businesses for the new regime.

The Personal Property Securities Bill 2009 (‘PPSA’) and Personal Property Securities (Consequential Amendments) Bill 2009, scheduled for implementation during October, aim to…

Common Mistakes of Bad Management

It’s generally accepted that most business failures result from inadequate management. So what do business owners and managers do wrong?

Around 65-90% of business failures are due to internal issues – often referred to as weak or bad management, according to Donald B Bibeault in his book Corporate Turnaround – How Managers Turn Losers Into Winners!

In my previous blog – Why Do Businesses Fail? I discussed management styles and structures which inhibit effective business management.

I’d now like to take that one step further by discussing the common mistakes that business owners and managers make.

The majority of mistakes occur because management either fails to take action or takes inappropriate action.

Here are some common examples:

How To Succeed In The Retail Industry

This is the third in a four part series that looks at four of Australia’s core industries – Mining Services, Transport, Retail and Manufacturing.

Retail is one of Australia’s more sensitive industry sectors, which is not surprising when you consider that sales are driven by consumer sentiment, interest rates, employment and disposable income.

As a result, retailers benefited from the highs of the economic boom during the early to mid 2000s, but they were also hit hard during the GFC with revenue contracting more than $1.3 billion (or 1%).

Post-GFC trading has been particularly volatile, with the government’s $10.4 billion stimulus package providing only short term benefits against continuing consumer uncertainty.

Anyone who regularly watches the news or reads the newspaper will be familiar with statistics such as CPI, employment, GDP, household expenditure, and the impact these have on our macro-economic environment.

But what about the micro-economy?

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