Business Mentoring Noosa

Helping small businesses on the Sunshine Coast to fulfill their true potential

Costs

Maximising profits without the slash and burn approach

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If a business is not strategic about implementing cost reduction measures, and recklessly downsizes its product offerings or processes, it could damage relationships with clients, reduce productivity and drive down revenue. Most businesses can, however, improve profit margins without having an adverse effect on the business, through focusing on operating efficiency, reducing unused capacity and getting rid of services that customers don’t value. Read more in the following article: http://www.smartcompany.com.au/sponsored/48268-maximising-profits-without-the-slash-and-burn-approach.html

This article was suggested by our mentor Stephen Lovegrove

How to create a financial model for your startup

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Developing a financial model is one of the critical projects for any entrepreneur. Often created in a spreadsheet, it’ll allow you to work out how your business will scale, what’s your break even point, and when you’re likely to require investment.

The following article gives an overview on how to develop a financial model for your business: http://www.brw.com.au/p/entrepreneurs/how_to_create_financial_model_for_udGjXisaOWgS7cW7MfBFaP

This article was suggested by our mentor Julie Piper