The world of accounting and bookkeeping is changing. It was a decade ago that I decided to upgrade our small business from spreadsheets and Word documents to a proper accounting system.
Strategic planning is the blueprint for your business. It’s an aspirational and practical plan for your future that can give you an exact outline of where your business is, and where it should be.
The manufacturing industry is changing and new trends are shifting the way manufacturing companies operate their facilities. In addition, manufacturing companies are looking to become more sustainable in their operations.
As passionate believers in the healing power of flower essences, Scott Harris and his co-founder Jayne Tancred established Tribe of the Tree in Sydney seven years ago.
Seasonality might make you think of the holiday season but seasonality is not exclusive to Christmas, Easter or Halloween! Seasonality also encompasses the summer seasonal boom.
One of the major differences between brick-and-mortar and ecommerce retail is the ability (or inability) to create a physical customer-product interaction.
In an ideal world, your business would never have excess or obsolete inventory. However, this can and often does happen when demand for certain products decreases and supply remains steady or increases.
There are many factors that can contribute to business success or otherwise. When first starting out, business owners can be focused solely on serving customers that they forget to check out the competition.
When it comes to quality control as a manufacturer, it’s important to remember the role inventory management has on your ability to moderate quality. In terms of running a business, your aim will be to make quality products that will sell, with as little waste as possible.
Controlling a supply chain can be a very difficult exercise. Businesses can struggle to control what is going on in their supply chain and this can result in failure.
Working remotely or freelancing has its positives— working in your pyjamas being one of them— but when it comes to self-motivating and staying productive, it can be an uphill battle.
No entrepreneur or business startup sets out to fail, yet in every industry, there are those companies that grow and dominate their markets, while others stagnate or ultimately fail.
There are many lessons to be learned through failure. Each time something does not work in a business, there are endless reasons and factors that could culminate to cause the failure.
Picture this — you find yourself in an industry that is dominated by big chains at the top and crowded with online stores that keep popping up. How do you stay competitive?
Gift giving is a major part of the holiday season. As a result, the holiday seasons is hectic, not only for the consumers, but also the retailers and manufacturers supplying the gifts.
Stockouts almost always make it to the “worst nightmare” lists of retailers, and for good reason. Not only do they lead to lost sales, but out-of-stocks also result in reduced customer satisfaction and lower loyalty levels.
The success of a business, amongst other things, is largely dependent on their ability to supply their product or service to a customer exactly when and in what quantity they require.
As industries increase in globalisation, establishing trading relationships with suppliers further and further afield, there is a concurrent and rather ironic push for consumers to support local entities and ‘shop small’.
As some countries ring in the new financial year, now is the time to reflect and make New Year’s resolutions for your SME for the financial year ahead.
Every seasonal business – whether it’s a haunted house attraction open on Halloween or a summer souvenirs shop on the beach – dreads the off-peak season.
It is a difficult task to gauge customer satisfaction without some form of survey to do so. However, understanding the extent to which your customer base is happy with your services is integral to your company’s success.
Strategy lies at the heart of most successful businesses. Businesses that plan and have clear objectives or goals, robust accountability and a shared sense of purpose should always outperform those that just show up and go through the motions.
Expenses are a hassle and they cost time and money to process. To help you with the paper war we’re expanding the choice of providers that integrate with Xero and sort this problem for you.
Our latest add-on Receipt Bank is a receipt and invoice processing service that gathers together your receipts and invoices, scans them, converts the...
Receipt Bank allows you to add in details of your bank accounts and payment methods in order to help us categorise your receipts and invoices even more efficiently!