Helping small businesses on the Sunshine Coast to fulfill their true potential
By BMN
The decision to retire is a personal one that’s often as much about your purpose for working as it is about your finances.
https://www.intheblack.com/articles/2018/09/11/judging-right-time-retirement
This article was suggested by our mentor Julie Piper
By BMN
Why would a gambler keep playing, even after losing a lot of money? Economists call it the sunk cost fallacy, a phenomenon which drives us to make bad decisions. Don’t throw good money after bad!
http://www.bbc.com/capital/story/20180914-the-trick-to-learning-when-to-cut-your-losses
This article was suggested by our mentor Julien Cahn
By BMN
Dividing Up The Loot: This article shows you how to get peace-of-mind by setting up Piggy Banks to ensure you do not have to rely upon willpower for your business Profit & Salary. It will show you how to calculate the amount to put away into them, on a regular basis, so that you have enough cash available to meet all payment commitments.
https://mailchi.mp/a99b5454a67c/wtips-160419
This article suggested by our mentor Scott W
By BMN
Like it or not, your business’s expenses go up a bit each year. To stay profitable, your business needs to grow so it can absorb those increases. Here are four things you can do to keep your small business growing.
https://www.businessknowhow.com/money/grow.htm
This article was suggested by our mentor Trevor Payne
By BMN
Borrowing from family or friends is increasingly common these days and with interest rates at historic lows, there are cashed-up individuals looking to lend to and/or take equity positions in businesses owned and managed by people they know and trust. But is borrowing from family or friends really a good idea? The following article describes some of the issues that can arise and how to deal with them: http://www.smartcompany.com.au/finance/is-it-wise-to-borrow-from-family-or-friends-for-your-business/
This article was suggested by our mentor Bob Joubert