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Think of cashflow as the lifeblood of your Business. It’s your lifeline! Without a healthy cash flow, your Business won’t operate effectively or, in the worst-case scenario, cease to function.
Your cashflow needs careful and diligent management, even when your sales are good. Mastering cashflow management is key to having a thriving, successful Business.
Here are 3 Top Tips to help keep your cash flowing.
Tip 1: Understanding your cashflow statement is critical. This report tracks the movement of money (transactions) going in and out of your Business. It reveals if you are generating enough cash to cover expenses.
Examine your statement: Determine:
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Is the Business generating enough income from its core business activities?
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Financials – how much cash is going toward debt repayment or funding your Business?
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Investments – are you spending too much money on other investments or equipment?
There comes a time in most Family Businesses when it’s time for the ‘founding’ members to let go, step aside and hand over the reins or baton!
Letting go is a subject of conversation, raised often, particularly when there are problems with the 'changing of the guard'!
This situation, handing over the reins, despite good intentions, often becomes complex and complicated when the ‘founder’ holds on too tightly or for too long. Simply said, they have trouble letting go!
This raises the question ‘why is that so?’
Loss of Identity: Erosion of identity, rather than management, is often the root cause. Stepping away can be a huge change for the owner who has often given their life to building the company. It has been their primary purpose. Succession can feel more like an existential crisis rather than a professional milestone. These feelings should be considered and taken seriously. Seek professional health guidance if needed.
No post-retirement plan: Yes, there has been talk of taking it easy, going on a cruise or catching up with old friends, but without meaningful activities and engagement, founders tend to linger on at the Business. A retirement plan plans for retirement. Being proactive, finding ways, purpose, and making other investments to fill their time.
Persuasive, confident, magnetic personality, all of that and more, with the power to influence and charm followers.
Yes, that best describes charismatic leadership.
You know it when you see or experience it. It’s a style that, instead of relying on formal authority, inspires and motivates by articulating compelling vision and creating strong emotional connections and bonds with followers.
These leaders can make each person feel seen and valued, people from all walks of life.
Are you this charismatic leader who captures and commands attention when you walk into a room, stand before an audience or address your team?
Charismatic leaders exhibit certain traits and characteristics
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High emotional intelligence – self-awareness, empathic, with the ability to read social cues, connecting with followers on a personal level.
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Self-confidence & self-belief – unwavering confidence and belief in their abilities and mission that, even during a crisis, radiates assurance and composure.
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Compelling vision – they have a clear vision of the future and can express it in such a way that it feels urgent and exciting to others.
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Communication masters – excellent storytellers, who use their passion, expressive body language and words to elevate, rally and energise individuals and crowds. They create trust and enthusiasm among followers.
Tax Depreciation, CGT Valuations and What Property Investors Need to Know
The key point for investors to note is that tax depreciation schedules and capital gains tax valuations still remain important. And under the new proposed tax system, they will become more important given the announced reforms to the 50 per cent capital gains tax discount and negative gearing changes.
Negative Gearing changes and its impact on Investors, fall under three groups of properties.
Influencers! Are they the best thing since sliced bread!
That depends on what you are looking for, aiming to gain or achieve!
Step one, before heading down this path, it makes good sense to define your marketing strategy and determine whether engaging an influencer is the best way to achieve your campaign goals.
There are numerous considerations and questions. Ask yourself!
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Do the Influencers' values align with your organization?
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How will and Influencer help you achieve your goals?
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Are the influencer’s claims legitimate?
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