Business Mentoring Noosa

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

Finance

How hiring a virtual CFO can take your business to the next level

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A common complaint amid SME owners is they don’t have time, or the inclination, to stay across the finances of their business. More than this, owner-operators of small-to-medium businesses can often feel isolated running their businesses. This is where a virtual CFO can step in. Also referred to as an ‘outsourced CFO’ this is a service designed to bridge the skills gap. Read the full article here: http://www.smartcompany.com.au/partner-content/articles/how-hiring-a-virtual-cfo-can-take-your-business-to-the-next-level/

This article was suggested by our mentor Bob Joubert

Is your old-school finance system holding your business back?

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If your paperwork piles up while you’re away from your desk then it might be time to streamline your business with a cloud-based finance package. Paperwork is one of those necessary evils when you run a business. You might prefer to spend all your time focusing on your passions, but the business won’t get far if you neglect your finances. Read the full article here

This article was suggested by our mentor Bob Joubert

Business quote of the week

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“Profit in business comes from repeat customers, customers that boast about your product or service and that bring friends with them” – W. Edwards Deming

This quote was suggested by our mentor John Spence Thomas

How to get your business back from the brink of failure — or avoid getting there in the first place

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There are a number of common characteristics of businesses that minimise the risk of failure. These separate the businesses that fail from those that not only survive but have an opportunity to thrive. The following article describes some additional factors which can help to reduce the risk of business failure: http://www.smartcompany.com.au/finance/71268-how-to-get-your-business-back-from-the-brink-of-failure-or-avoid-getting-there-in-the-first-place/

This article was suggested by our mentor Lyn Wrigley

Late payments: how businesses can combat the mortal enemy

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Nearly three-quarters of all business invoices are paid late, with payment terms extending to 61-90 days outstanding, rising by 22 per cent, according to the ACCC. The following article looks at what can small businesses do to rectify the problem: http://www.smh.com.au/small-business/finance/late-payments-how-businesses-can-combat-the-mortal-enemy-20160915-grgsmd.html

This article was suggested by our mentor Trevor Payne