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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When should I look at reducing sales rather than chasing more?

By on January 12, 2010 in Melbourne Vlog Tour

Many people think if they can just get more sales in their business everything will be OK. But this is not always the case. In fact sometimes increasing sales can be the worst thing you can do when a business is struggling.

In today’s discussion Andee looks at one such situation where increasing sales would damage a business.

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 ARHS Railway Museum (Williamstown) and answers the question When Should I Look at Reducing Sales Rather Than Chasing More?

What is a Business Plan Executive Summary?

By on January 7, 2010 in Business Plan

As a small business owner you will likely find that there are too few hours in the day and too many things to complete in them.

That’s right… we’re all short of time and need to be efficient in what we do.

That’s where an executive summary works really well.

An executive summary is a shortened version of the whole business plan

It contains the essence of the plan ‘in a nutshell’ which makes it easier to get the big picture before going into detail.

I like them best when they’re on One Page with One Page of summary numbers.

Too many times a business plan is a lengthy document which no one reads but people feel justified that it demonstrates that a lot of work has gone into the business plan.

Remember that if you can’t catch the reader in the executive summary then it’s likely they won’t read any further.

What’s your experience with an executive summary?

Have you used them before?

Do you find them useful?

Video

Can you retire from your business?

By on January 5, 2010 in Melbourne Vlog Tour

Many small businesses have to shut down when the owner retires because they depend on the owner to operate them. Today we look at three things you must do to ensure your business can continue after you retire.

If you can set your business up so that someone other than you can run it you will create an asset that you can sell, or better still that you can retire out of, and still get an income from it.

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 HMAS Castlemaine (Gem Peir) and answers the question ‘Can You Retire From Your Business?’

Should I use a business plan template?

By on December 31, 2009 in Business Plan

The purpose of a business plan template is to give you an overall structure in which to express your business plan.

Think about this question for a moment:-

Could you take a blank sheet of canvas and paint a beautiful picture of a forest?

Chances are, if you’re like me, this would be impossible. BUT if there was an outline and you had to paint by a series of numbers then many people would be able to complete a reasonable painting.

This is the reason why using a template can be very useful.

You will find that there are many templates which you can use, however remember that where most business plans fail is in the numbers that are presented.

Banks require the numbers to be prepared in a certain way and often this determines the format of the template.

What’s your experience of using a template?

Did it help you get your thoughts down on paper more easily?

What’s the best template that you’ve found or used?

Video

Should I buy my assets or lease them?

By on December 29, 2009 in Melbourne Vlog Tour

Knowing the best way to use cash in your business is a key to ensuring you don’t run into cash flow problems. Today we look at the issue of the best way to finance asset purchases in your business.

We also discuss the other place in your business where you will need to invest cash and where this might come from.

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 of the Melbourne Skyline from The Strand, Williamstown and answers the question ‘Should I Buy My Assets or Lease Them?’