Finance

Monitoring your business's vital signs could quite possibly determine whether it survives or not. Sue Hirst explains.

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Price tag
Do you tear your hair out trying to put a price to a product or service? Here's some savvy advice which could help set you on the right track

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Good financial management throughout the year gives you a clear picture of how your business is doing, helps you set financial goals and plan budgets and makes handling the necessary administration for your financial year-end easier.

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Business credit check
Ashley Bryan

In the modern business world, making quick, smart business decisions ensures that you stay ahead of the competition. But making the right decisions can be quite difficult when you don’t have the right kind of information at hand.

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Dice
In recent years, New Zealand small and home businesses have found out the hard way how events outside their control, like earthquakes, floods or other natural disasters, can negatively affect them. While many of the losses relating to these events are covered by insurance, the bigger risks to businesses are the less obvious risks that are not claimable through insurance policies. Risk management for your business is more important now than ever before, and Sue Hirst explains how you can take some steps to mitigate potential threats.

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Cutting costs
Understanding costing is vital if you want your business to grow. Sue Hirst says many small and home business owners are working hard without seeing the results, and she has some tips to help you make your business more profitable.

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pumpkin soil
A rags to riches story can all end badly when the golden carriage turns into a pumpkin at midnight. Phil Astley explains how recent big business failures in New Zealand can serve as a warning for your small business.

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Upward trending graph
Service based business can be the most difficult in which to measure profitability. All kinds of issues can impact the difference between what is charged to a client and the cost of delivering the service. Sue Hirst has some tips to help you enhance the profitability of yours.

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Image courtesy of Micah Burke freeimages.com
If you are discounting your prices, the chances are you are the one who is missing out, says Jane Francis

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Service businesses often can't bill for a simple piece of work done as projects can be complex and may span several months or even years. Work in Progress, says Sue Hirst, is a very sensitive driver in relation to cash flow and working capital in any business. She explains how you can stay on top of ongoing work and billing.

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Hand holding coins
Sometimes you really, really need an overdue account to be paid, but are afraid putting pressure on the debtor could sour the relationship. Michael Todd suggests there is another option.

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House for sale
When a business is headed for trouble, often the owner knows deep down - but as Sue Hirst's tale of woe shows, it's important to listen to that nagging doubt and seek help early. She draws some lessons from one owner's sad experience.

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Making an exit
There are often a variety of potential options when you decide to sell your business, says Richard O'Brien. He details some of them and gives some useful guidelines - some of which it's useful to implement even when you're not actively thinking of selling up.

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Maze
Most small businesses are losing an astounding amount of business, and are sitting there scratching their heads wondering why the sales just aren’t coming in. Read this article to find out the one thing you can do for your business to turn this problem around .. FAST!

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Keeping an eye on Christmas debt
If the Ghost of Christmas Past looks like it will visit even before you put the tree in the rubbish, here are 10 tips on being money-wise in advance, by Michael G. Peterson

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Cutting costs
No-one ever said running a business was easy - but some times can be more difficult than others. When your business is taking a hit, Sue Hirst explains there are four ways you can help ensure you make it to the next upturn.

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Freeimages.com/Chris Worfolk
CFO stands for Chief Financial Officer. It’s a term used mainly in larger businesses, but is just as relevant to smaller business, in that someone has to do it irrespective of their job title. It’s often the business owner or a family member.

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Sign here sticker
Does going to the bank or other lender to raise capital for your business seem like an impossible task? Sue Hirst shares some pointers to help make your loan application much more likely to succeed.

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Cutting expenses
When you're trying to increase profit in your business, marketing is an important part of the equation - but according to Sue Hirst, there's something else you can do which has an even quicker and more direct impact on your bottom line. She explains, and gives you 8 simple steps to follow to grow your profit without spending anything on marketing.

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snail
Has reality started to set in after the holidays and are you finding business more sluggish than you would like? Eric Billoud explains why it's happening and what you can do to overcome the issue.

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