Ever wondered ‘Where’s the money gone”?

‘Where’s the Money Gone?’ traces the learning of a typical business person named Mike. Mike believed that to be successful he just needed to make a profit.

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What are the key numbers I need to run my business?

By on February 16, 2010 in Melbourne Vlog Tour

There are three key numbers (indicators) that will tell you very quickly how healthy your business is and in particular if you are heading for trouble in your business.

Andee discusses these in today’s video blog and shows you how to calculate these to see how your business measures up.

NOTE: Watch This Space for the new One Minute Business Check up tool mentioned in todays video which will do these three calculations for you (and much more), all in less than one minute.

We’ll be introducing this exciting new development to you right here at www.onesherpa.com very soon, so keep your eyes open for the announcement.

The Vlog series comes from One Sherpa an online global membership community dedicated to helping small business owners succeed and prosper.

The series is filmed on location around Melbourne, Australia and answers questions commonly asked by small business owners.

This video is filmed from the Time Ball Tower (Port Gellibrand) and answers the question ‘What Are the Key Numbers I Need To Run My Business?’

Cash Flow Horror

By on February 11, 2010 in Small Business Cash Flow

Imagine going to your internet banking and finding you’re nearly out of money?

What do you do?

Where do you suddenly get more money?

Do you know what an aged trial balance of accounts receivable is?

It’s a listing of all the money that is owed to you from your customers.

Make yourself a promise that you’ll review this on a monthly basis as a minimum.

If you’re in trouble then weekly is much better and you can tick of all the money as you collect it from your customers.

There are many horror stories of small business owners continuing to supply products and services to customers who are not paying, have no intention of paying and are just going along for the ride.

If you are in construction then you will know about this but whenever the economy gets a little tight, you must pay additional attention to getting your money in.

Let’s face it, it’s one thing to make a profit but a completely different story to have money in your bank.

If you’re asking yourself the question “Where’s the money gone?” then a great place to start is your accounts receivable.

What are your experiences on collecting cash from customers?

Have you found this difficult?

Are there any tips you would like to share with others?

Video

How to find a model business plan?

By on February 9, 2010 in Melbourne Vlog Tour

Many business owners ask “What is a model business plan?” and we often find people confused about the difference between a business plan and a business model.

Today Andee looks at 3 important tips to consider when looking for a model business plan.

The Vlog series comes from One Sherpa an online global membership community dedicated to helping small business owners succeed and prosper.

The series is filmed on location around Melbourne, Australia and answers questions commonly asked by small business owners.

This video is filmed from the Melbourne Arts Centre, Melbourne and answers the question ‘How To Find A Model Business Plan?’

Borrow and Hope – A Bad Small Business Strategy

By on February 4, 2010 in Small Business Cash Flow

Many small business owners are continually running short of money and instead of looking inside their business to see what might be wrong; they simply borrow to keep things going.

This is obvious lunacy but its amazing how many just borrow and hope that things will turn out better.

Banks are always on the look out to lend you more money because this represents more income for them.

While it is very tempting on occasions to borrow to keep things going, make sure you move beyond just hoping things will get better.

Have you reviewed your business model to make sure it is sound?

Do you know what your business model is and how it could be changed?

Video

What should you find in good business plan advice?

By on February 2, 2010 in Melbourne Vlog Tour

When preparing a business plan you want to make sure that you create a plan that is achievable and has a high likelihood of success.

Today Andee gives some tips on what to look for to ensure you are getting good business plan advice.

The Vlog series comes from One Sherpa an online global membership community dedicated to helping small business owners succeed and prosper.

The series is filmed on location around Melbourne, Australia and answers questions commonly asked by small business owners.

This video is filmed from the Yarra Footbridge, Melbourne and answers the question ‘What Should You Find In Good Business Plan Advice?’