Blog

• Cashflow
• Business

Are you struggling with the challenges of managing your cashflow?

You are not alone, with a recent survey revealing, ‘nearly 80% of small to medium Businesses have experienced a lack of cashflow in the past 12months.’ Many, a quarter, survived by not paying themselves a salary or dipping into personal savings.   

Yes, running a successful Business isn’t easy, it takes courage and a range of skills to stay on top of things. It's weathering the ‘storms’, complexities and demands of everyday operations, including customer relations, Suppliers, and sales! Sound familiar! 

The key to success is Cashflow, the amount of money going in and out of your Business.  In today’s trading environment this flow has never been more important, vital if you are to remain financially stable.  

To tackle cashflow challenges Businesses need to adopt 'sound' business strategies to keep the cash flowing now and to be better prepared for future challenges.   

Firstly, let’s look at Cashflow, what it is and how it impacts your Business  

Cash flowing-in is usually the money you get from sales but can also include sale of assets, grants or money from debt repayments. 

Your outgoings include; wages, rent, maintenance, payments to suppliers and loan repayments. 

Common flow causes include: 

Declining revenue, inaccurate forecasting, low profit margins, lengthy payment terms and supply chain issues. Examples include; 

• High overhead expenses: Having high administrative costs that support company functions but don't generate funds returns eg rent increases due to inflation 

• Expensive debt: poor debt management practices or taking on too much debt or extending credit card debts

• Inadequate cash reserves: little or no backup cash on hand to cover emergencies and lean periods  

• Seasonal fluctuations: Having seasonal highs and lows in sales, which can lead to extra costs like hiring more staff or buying more stock 

• Excess inventory: Having excess stock reserves you can't sell, which ties up cash  

• Decreasing sales: Selling products or services at low prices or offering discounts that reduce profit margins  

• Slow payments: Receiving late or slow payments from customers, which means you've already paid for production but haven't been paid yet. 
• Capital Expenditure: Upcoming fitout or new office fitout costs and new machinery acquisition's have significant impact on your cashflow

Impact on Operations and Growth 

Business viability and sustainability, loss of confidence, yours and others, poor staff morale, operational inefficiencies and investment limitations. Simply put your Business is, is stifled and stymied and at risk of sinking. 

These are the symptoms and causes of unhealthy cashflow, for remedies check our '8 Tips & Strategies' 

• Business

Authentic’!

just another buzzword, trendy or trite expression! 

You wouldn’t be alone in thinking that, but I am pleased to say once we delve deeper, we find there is more to "leadership" than just a word. Its real! 

Here are 6 Ways how you can become a more authentic leader!

The idea leaders should be authentic isn’t new but the term ‘authentic leadership’ has come into the spotlight since being coined by Bill George in his 2003 book, Authentic Leadership.  

And it’s a leadership style that has become relevant in today’s more complex and global interconnected Business environment, along with changed industrial relations expectations. Meaningful workplace relationships are the key to successful outcomes. Happy people, happy workplace, greater productivity. If you are a Business owner who doesn’t want that. 

Let's start by identifying and understanding what it is, what are the characteristics, impact and benefits of authentic leadership.  

Definition:  

Authentic leadership is a management style where leaders are genuine, sincere and true to themselves, their core values and beliefs. It’s about being honest and reliable at all times, acting in the best interests of all.  

Characteristics:  

• Genuineness, modesty and humility – a leader acknowledges their learnings and is courageous in sharing their journey

• Integrity – makes decisions made on principles  

• Self-awareness – understands themselves, their relationships with others and is willing to undertake self-improvement, adaptation and growth. 

• Transparency – open communication, open about their thoughts and feelings, sharing personal experiences and stories to create a connection that builds trust. 

• Vulnerability – they embrace vulnerability as a way to foster trust and growth but know when and how to maintain professional boundaries. 

• Empathy – having an understanding of other’s feelings. Stand in their shoes. 

• Ethics – embraces high standards, follows a strong moral code of right and wrong. 

• Results focused – creates a vision for the future and inspires, motivates others to see it. 

Benefits: 

• Authentic leaders inspire loyalty, trust and strong performance from their employees.  

• Employees are more likely to be job-satisfied, engaged and motivated.  

• Leaders who embody authenticity have the ability to create safe supportive workplaces and a culture that boosts team performance and happiness. 

• They create a collaborative and create work environment through open, honest relationships. 

There is more, check our Blog,

6 Ways to Become a More Authentic Leader 

• Business

Adopt these 6 Ways to Become a More Authentic Leader

1. Review your leadership image – this involves self-assessment and exploring what behavioural changes can be made to build your authenticity. Rethink, redefine, revise but stay true to yourself. Make decisions based on your ethics, values and personality, be genuine, this isn’t about creating a false image.  

2. Enhance your self-awareness – this is understanding how your habits, personability and communication skills impact your interactions with others. Consider how others perceive your behaviours, words and actions. Positively, or negatively! Seek feedback to gain insight and reflect on how you might change your approach.  

3. Assess your likes, dislikes and values – This is about setting goals that are aligned with your values. By establishing your likes, dislikes, strengths, weaknesses and values you can better comprehend how aligned your behaviours are with your ethics. Know what is important to you now, and if or what you are prepared to change or not.  

Read more …

• Business

Success is a personal experience that can mean and look different for everyone depending on their values and goals. 

Cambridge dictionary defines; ‘The achieving of the results wanted or hoped for’. Or expressed as; ‘True success means staying true to a deeper sense of purpose, despite deviating from a superficial social norm.  It means having the courage to peruse one's own journey when confronted by the fear of uncertainty.’ 

What are your thoughts! How do you define success! 

Do you relate to these components? 

• Feeling of accomplishment  

• Financial stability  

• Personal fulfilment  

• Social recognition  

• Professional achievement  

• Making a positive difference  

• Enjoying your work  

• Treating others with respect  

To reiterate, ‘Success – What Does it Mean and Look like to You!’ 

Have you achieved what you want, fame, fortune! Yes, congratulations! 

Or are you still searching, wishing and hoping. If that’s you, don’t delay, understand what success looks and feels like for you and take the necessary steps to achieve it.  

Here are 7 Tips for defining success and setting goals: 

1. Reflect on your values: Consider your values and how they align with your personal and professional aspirations.  

Read more …