If You Don’t Got the Time, You Don’t Got the Money
Clichés. Can’t live with them, can’t live without them. (See what just happened there—it’s that bad).
The most widespread, just-waiting-to-pop-out-at-you, cliché is a very short one, measuring just three words—time is money.
Debt Collection: The Whys & When
Too often businesses leave collecting debts at the bottom of the pile. Why? Often there is anxiety and worry around the process, or lack of trust in collection agencies. Sometimes lack of time and understanding of the process.
Customer-centric banking innovation in Asia
Over 100 accounting/bookkeeping, marketplace and banking partners across Asia joined us in Brisbane this year to attend Xerocon, the most innovative conference for cloud leaders in Asia, Australia and New Zealand.
Creating a business without debtors
There’s literally hundreds of blog posts giving you the 7-10 steps to reduce debtors and improve cashflow. Yet the debtors problem still exists to some extent in the majority of small and medium size enterprises (SMEs) globally.
Crafting Your Mobile Strategy: How Retailers Can Go Mobile and Increase Sales
We no longer need studies to tell us: Smartphones are almost everywhere. Most of the customers coming through your doors have a mobile device with them. And these devices aren’t always shoved in pockets or bags — shoppers are using them while they’re in store too.
Aussie businesses get over $3.5m to launch their innovative idea into global markets
Offers for grants worth over $3.5 million will support 7 businesses to help launch their innovative products, processes and services into domestic and international markets.
The funding has been provided from the Accelerating Commercialisation element of the Entrepreneurs’ Programme.
Accurate Inventory Forecasting, No Crystal Ball Needed
Anticipating future demand is a tough job, wrought with ways you might go wrong. Proper demand forecasting and inventory control can save a company from buying too much or too little of something, which of course avoids expensive overstock scenarios or stockouts.
Tax deductions for small business owners
Tax time is fast approaching—it’s important to do your homework and know exactly what tax deductions you can claim.
Understanding the Cosmetic Industry’s Supply Chain
In the cosmetic industry, managing the supply chain efficiently and effectively is crucial for cosmetic companies to gain a competitive advantage.
How To Use Xero in 13 Easy Steps
13 may be unlucky for some but if you follow these 13 top tips on how to use Xero and make the most out of your account you won’t need luck.
How to Start a Private Label: A Chat with Sarah Ferrence of Mod. Merchant
Have you ever considered selling private label products? If so, keep reading. For this post, we caught up with Sarah Ferrence, the founder of Mod. Merchant, a firm that helps retailers and wholesalers adapt and grow their businesses in the new era of retail.
How to Refinance Your Business Debt
Many firms will decide to take on debt at some point, at different stages of growth and for several reasons.
How the Automotive Industry Manages Seasonal Pressures
Managing seasonal pressures in the automotive industry is an ongoing struggle for car dealers, repair shops and others in the auto business.
6 Father’s Day Promotion Ideas to Try in Your Retail Store
Father’s Day is just a few short weeks away, and while this holiday isn’t as huge as the day dedicated to moms, consumers still increase their spending quite a bit.
What’s the Buzz About Innovation?
As more businesses use online inventory management, manufacturing and procurement tools, businesses that stick to traditional ways of operating are likely to surrender their competitive advantage.
Tricks used in Scams
Scammers use clever tricks to reel you in and get you to reply to their email or not hang up the phone. Most scams seem like genuine offers but they are carefully designed to trick you into giving away your money or your personal details.
9 Reasons Your In-Store Retail Displays Aren’t Working — and What to Do Instead
One of the major differences between brick-and-mortar and ecommerce retail is the ability (or inability) to create a physical customer-product interaction.
12 Retail Checkout Counter Ideas to Try in Your Store
When was the last time you gave your retail checkout counter some love? (And no, we’re not just referring to cleaning up your countertop or moving some stuff around.)
The Reluctance to Automate Leaves UK’s Food Industry Stagnant
Competition is rife in every industry. In order to keep up with competitors you have to be innovative and quick.
Looking to your Competitors for Business Success
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.
How to Deal with your Excess Stock and Stay Green
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.
How to Avoid Cash Flow Problems
Cash flow can be hard to get to grips with for any business; whether you’re growing, just starting out, or established. In fact, 82% of businesses become insolvent because of bad cash flow.
Get Your Staff Ready for Cloud-Based Software
Shifting data, systems and the inner workings of a business onto the cloud can be a big move. However, it’s hard to stay away from the cloud these days; the applications of cloud-based software are seemingly endless.
Putting Two and Two Together: Manufacturing Inventory Management and Quality Control
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.
How to Train, Manage and Motivate Part-Time Retail Staff
There were almost 5 million retail sales jobs in the U.S. in 2016. Those workers, both full- and part-time, represent a sizeable chunk of the workforce, and they’re also a key component to every growing retail business. (post by Alexandra Sheehan)
How to Engage and Sell to Gen Z
While millennials are still a significant consumer segment for retailers, there is another shopper group that’s continuing to gain spending power.
Best and Worst Businesses for Cash Flow
No matter how inventive or simple your business model is, you can still have problems with cash flow. Here is a rundown of the best and worst businesses for cash flow.
7 Examples of Good Customer Service in Retail (and How to Apply Them to Your Stores)
While there are many things that can affect the in-store experience (e.g. products, prices, store environment, etc.) customer service is always going to be one of the top factors that impact how shoppers perceive your brand.
3 Key Trends That Will Drive Business Success in FY 2019
As some of us begin a new financial year, it’s time to reflect on trends from the year that’s been. The 2018 financial year continued the dramatic trend of change that small and medium sized businesses have been experiencing for the last few years.
The Retailer’s Guide to Cashier Training: Getting People up to Speed with Your POS
Perhaps the most important part of retail is the moment of the transaction — when money transfers from the customer to the cashier. (post by Cara Wood)
Local Store Marketing for Retailers: 6 Ideas to Boost Your Presence in the Neighborhood
Local store marketing is critical for many retailers, particularly those who have brick-and-mortar stores. Chances are, the bulk of your foot traffic comes from people in the neighborhood, so it’s vital that you get yourself in front of as many locals as possible.
Innovation Poses New Challenges and Opportunities in the Food and Beverage Industry
One critical factor for food and beverage industry growth is innovation. While the food and beverage players are experienced innovators, the industry itself is facing new consumer, food safety and regulatory challenges.
How to Prevent and Handle Internal Theft in Retail Stores
When thinking about threats to your retail store, shoplifting is probably number one, right? The idea of someone swiping hundreds of dollars of products into a giant bag and walking out with them is horrifying, isn’t it? (post by Cara Wood)
Why Do Businesses Fail to Grow?
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.
How to Stay Productive When You Work Remotely
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.
Avoiding Supply Chain Woes
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.
5 Essential Business Costs Not to Skimp On
If you are a startup owner or entrepreneur, it is no secret that you may be working within a tight budget. The ability to make pennies stretch is an important survival skill.
Women in Tech – It All Adds Up!
Recruiting more women into roles within the technology sector continues to be to a major challenge for employers. In the UK technology sector, only 15% of people working in STEM roles are female, and women hold only 5% of tech leadership positions.
What to Learn from Failure in a Business
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.
We Asked Retailers About the Habits That Led to Their Success. Here’s What They Said.
Highly successful retail businesses don’t just happen overnight, nor does it (usually) occur because of one big, bold action.
Retail Metrics: 14 Essential KPIs for Tracking Your Business’ Performance
Numbers don’t lie, so if you find yourself at a loss with what’s happening in your business, one of first the things you should do is look at your retail metrics.
Managing Supply Chains Effectively During the Holiday Season
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.
How to recognize and prevent sexual harassment in your office
The Harvey Weinstein scandal is back in the news this week – and it’s a reminder that we should seriously think about how we recognize and prevent sexual harassment in the workplace.
How to Encourage Impulse Buys and Unplanned Purchases in Your Retail Store
Impulse purchases account for a significant chunk of the consumer spending pie. According to a study by Marketing Support, Inc. and Leo J. Shapiro and Associates, about one-third of all consumers make a sizeable impulse buy every week, with a median purchase of $30.
Expanding from 1 to 5 Stores: How This Retailer Used Communities to Fuel Their Growth
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?
Choosing Cloud Software? Look Out for These Trends
Software as a Service (SaaS) has paved the way for businesses and consumers to test early cloud services. With SaaS being both flexible and financially attractive, businesses continue to take advantage of the simplicity and high performance the cloud offers.
5 Ways to Reduce Debtor Days
Debtor days measures how quickly cash is being collected from debtors. The longer it takes for a business to collect, the greater the number of debtor days.
Technology + Humanity = The future of services
Running your own business is awesome, right? There are not many other lifestyles that afford the opportunity to enjoy the kind of life you’ve always dreamed of, on your own terms. Time, money, flexibility… the chance to have it all.
Streamlining your Small Business for Greater Efficiency
One of the complexities of managing a small to medium sized business is having the ability to optimise your organisation, enabling it to run more efficiently.
Ready, Set, Grow: A Guide to Funding Business Growth
Almost every small business struggles through ups and downs on their journey to funding business growth.
Learn how to create business values in just 5 simple steps
When it comes to creating a vibrant company, values are absolutely foundational – in fact, they’re one of the most visible aspects of any company culture.
Avoiding Stockouts: 5 Preventable Causes of Out-of-Stocks and What to Do About Them
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.
What’s Brewing in the Future of Coffee?
The growth of the coffee industry has been truly unprecedented and experts have been prepared for the bubble to pop.
How To Prepare Your Business For The Next Recession
There has been a lot of chatter in the media recently that another economic downturn might be around the corner. As The Wow Company found in their recent “How recession-proof is your business” survey, a surprisingly high number of UK-based businesses are not prepared for the next recession.
Getting business strategy at the heart of your success in 2018
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.
Financial Mistakes To Avoid In Your First Business
After spending months thinking about it, you finally decided to quit your 9-5 job and start your very first business. You think that this will be a win-win situation for you because you get to do what you love and be your own boss.
8 Eco-Friendly Packaging Alternatives for Your Shipping Needs
If you’re shipping your goods out to your customers, it’s essential to ensure your freight costs are as low as possible. At the same time, we all know how important it is to reduce our impact on the environment.
Working From Home – Managing the Risks to Reap the Rewards
Working from home is becoming increasingly common as many employees look for flexibility and work-life balance.
Where Do Your Customers See Value?
Most small businesses are trying to grow their market share and revenue. This typically means thinking deeply about one of the major factors affecting inventory management: pricing strategy.
Social Media Lessons for Retailers
The 3 Best (and 3 Worst) Things You Can Do On Social Networks. Successfully managing your social media efforts takes more than just creating an account and posting a few updates every now and then.
3 Deadly Sins of Inventory Management
Sales numbers are not the only factor that influence a business’ bottom-line. Inventory management is just as important, and managers need to be wary of a few common inventory management mistakes to avoid.
Is Peer to Peer Lending the Best Funding Option for Your Business?
Over the last five years, peer to peer lending has become a popular alternative to traditional bank lending for individuals.
How to Get Media Coverage for Your Retail Business: A DIY Guide
There are several advantages to getting some good PR for your business. In addition to generating buzz, getting covered by the press can drive traffic and sales while boosting your credibility in the process.
Do You Need to Up Your B2B Marketing Game?
Business to Business (B2B) marketing practices are changing. Here we identify the latest trends and best practices of 2017.
6 tips to help you create compelling content for your website
Is your New Year's resolution to update your website? Use our tips to help you create engaging content! Is your New Year's resolution to update your business website?
4 Essential employee engagement trends for 2018
Creating a highly-engaged workforce and a thriving workplace continues to be a major focus for all HR managers. And the reason is simple.
3 Great Examples of Retailers Reinventing Their Stores to Reach Modern Consumers
If you’ve been keeping abreast with the latest trends then you’ve likely heard about the shifting shopping habits of consumers.
6 Factors You Need to Know When Considering a New Supplier
The best suppliers will provide the most suitable goods or services at the right prices and within the right time frames for your business needs. Below we give you six factors you need to know when considering a new supplier.
Virtual Currencies: Bitcoin and other Virtual Currencies
Many virtual currencies, such as Bitcoin have emerged over the last 10 years but just how safe are they? We explain how virtual currencies work and the risks you take buying, trading or investing in them.
The Value of Workplace Training
Training in the workplace is a very valuable and important component of running a successful business.
The Dance of Technology and Business
Conducting business is no longer as simple, and dare we say primitive, as being present in the store at the point of sale, making said sale, recording said sale and replenishing inventory stock – all in a very hands-on manner.
Shipping Musts and Must-Nots
Online purchasing has not-so-slowly and very surely become the way people shop. It is efficient, convenient and best of all can be done without any concern for traffic or trying to find dreaded car-parking at a mall.
5 Retail Store Design Upgrades That Won’t Break the Bank
Take a moment to put yourself in your target customer’s shoes. Now, pretend you’re someone who’s walking into your store for the first time.
The Happiest Time of the Year? Holiday Pressures for Food Manufacturers
Holiday seasons are often just as exciting for food manufacturers as they are for consumers. Holiday seasons are big business for food manufacturers.
The Five Elements of a Lean Business
If your business is doing well and you’re looking to expand, that can be a sign of success. However, moving to the next stage of business development can be a risky endeavour.
Making a Case for a Time and Attendance System
Having reliable rostering software, like goRoster, means that you know who is working in your business at any given time. It’s a great tool to help you manage your staff without having to be on site 24/7.
Happy Customers, Thriving Company: The Role of Inventory Management
If there were no customers, there would be no business. And with no business, there is no income. So, it would be safe to summarise that customers should be the point of business, would it not?
Buy Now, Pay Later Services
Buy now, pay later payment services allow you to delay payment or pay by instalments (often fortnightly) over a period of time.
Automation: Changing the Face of Inventory Management
Inventory control and supply chain management has evolved on a near continuous basis since the 1980s.
4 Questions to help you assess HR software costs
To manage people in fast-growing small businesses like yours, you need to streamline all areas of HR administration – which would be hard to do without HR software.
10 Tips to Help You Meet (and Beat) Your Retail Sales Targets
If you’re reading this, then you’re likely: a) not meeting your retail sales targets; or b) meeting your targets but want to find ways to blow past them.
What Retailers Should Know About Selling to Millennials (a Chat with Jasmine Glasheen)
Millennials. They’ve been called everything from entitled and lazy to fearless and empowered. But whatever you think about this generation, one thing is clear: Millennials (aka Gen Y) continue to have a significant impact on the economy and society in general.
The Basics of a Good Business Plan
Business plans help define goals and help you achieve them. If you take time to set concrete and achievable goals, you can then chart a plan to reach these goals successfully. Having tangible goals can make a business thrive.
Late payment reduces small business confidence to grow
Three quarters of small and medium sized UK builders say that late payment has directly hampered their business growth according to a recent Federation of Master Builders survey.
6 tips to help you create compelling content for your website
Don't cut corners when creating content for your website. So you’ve decided to start an online business—congratulations!
Tackling your cashflow challenges this Christmas
Most of us look forward to Christmas as a time for fun, festivities and spending time with the family. If you’re a small business owner though, it’s not always the carefree holiday you might hope for.
Millennials Changing the Landscape of the Alcoholic Beverage Industry
Millennials have a significant influence in consumer trends in a wide range of industries. The alcoholic beverage industry, for example, is becoming increasingly conditioned by trends among millennial consumers.
Lean manufacturing and the coffee roast
The coffee category of the hot beverage industry is thriving, with the number of coffee drinkers growing each year. Cafes and coffee vans are everywhere, meeting our seemingly unstoppable need for a regular caffeine fix.
5 Types of Sales Promotions in Retail (and How to Implement Them)
Promotions are almost always part of a retailer’s sales and marketing mix, and for good reason — they can drive sales and help you move inventory.
7 Ways to reduce your impact on the environment
Managing your business’s impact on the environment is not only good for the environment but it can also help to improve your business’s reputation and reduce business costs.
5 Current cloud computing trends in business
For most businesses the question is no longer whether it is appropriate to adopt a cloud service, but rather when is the right time and what services to move.
13 practical ways to make your job ads stand out from the crowd
Writing great job ads is often more difficult than it looks. As well as selling the key requirements of the role, and presenting your company in a positive way, the job ad has to attract the right talent, and drive a response from suitably qualified candidates.
Why, How and When To Use a Fixed Term Contract
Many businesses in the building, civil and mining and professional services industries in particular, underestimate the benefit of a well-constructed employment contract.
Make sure you don’t overlook this critical step in your employee onboarding process
So, you’re doing your homework on employee onboarding and preparing new starter kits infused with your company’s values. You also want to mastermind an onboarding process that even the tech giants would be proud of.
How Small Businesses Can Use Peer-to-Peer Lending
A new trend is rising, changing the way people can are securing financial needs. This new trend gives both individuals and businesses an alternative source of financing.
9 Tech Trends That Are Rapidly Changing How Businesses Do Business
As technology and digital marketing tools continue to improve, businesses will have to adapt to trends in marketing and consumer behavior.
Workplace training – what’s in it for the company?
Workplace training is an important part of company work life which, as expensive as it may be, is a necessary means to a skilled workforce.
You gotta dig the No Dig method
Dennis Yarrow began Yarrow Plumbing back in 2003. Before that, he cut his teeth in the plumbing industry working in Papua New Guinea where he learned how to manage a team of 50 (and some other life skills he hadn’t bargained for).
Why profit isn’t the problem and cashflow is king
What is cashflow management? In its simplest form, cashflow management is doing everything possible to ensure that money flows into your business as quickly as possible, and leaves the business as slowly as possible.
