Earlier this year I was fed up with the accounting business I’d built to satisfy others – clients, coaches, staff. It had become a mess of compromises I was making to keep everyone else happy. I didn’t want my next 10 years in business to be like my first 10. Something had to change. I needed
Myth #3 – Cash is profit. Profit is cash. FALSE! Too many business owners use their bank accounts as the only measure of how well their business is going. What you have in your bank account today, by itself, is no indication that your business is going well or not. It is only one guide
As part of this series of articles, let’s start with mythbusting business ideas some people have that I find funny, odd, or just plain sad. And there are a number of these. The sad part is that some of these myths have become so well ingrained in our business culture that they’ve created habits hard
To get more cash, you just need to sell more. TRUE and FALSE!Sometimes, selling more is like pushing the accelerator down on a car that’s hurtling towards a cliff. The only thing you will achieve is hurting yourself more and faster. Sometimes the problem of not having enough cash has nothing to do with your
Last year I decided that it was time to help teach my daughter her first lesson about running a business. She was six years old and we had more apples than we could eat or need to freeze for apple pies in winters. I figured it was a good opportunity to teach her some basics
In New Zealand – which currently is considered to have survived the Global Financial Crisis far better than most countries in the world – businesses are disappearing faster than ever. 36% of businesses born in 2010 with one to five employees ceased to exist by 2014 whether because of bankruptcy, liquidation, mergers and acquisitions, or other
Shopping without checkouts is closer to becoming a reality This week, Amazon announced its most advanced shopping technology Amazon Go where technology used in self-driving cars (computer vision, sensor fusion, and deep learning algorithyms) is being applied create a Just Walk Out Shopping experience with no lines and no checkout. Customers simply use an app on
You have to understand your numbers in business in order to survive but which numbers mean the most when it comes to decision making and the role of the middle man. This is part five in my series of blogs on how we can learn so much for business in general from the dairy industry.
The middle man and your path to market This is part three of a four-part series based on lessons we can all learn from the dairy industry – regardless of what size or industry you are in – these business lessons are relevant to all of us. As previously discussed, knowing your market and customers
There are a lot of business lessons we can all learn from the Dairy Industry in NZ right now. The effect of supply and demand on prices, and knowing that your customers are not only the middle men in the supply chain. Know your market and customers I suspect too many dairy farmers saw their
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