Editor’s Note

Hello

This month I’ve had some interesting conversations with leading business experts on issues affecting the professional services sector and accounting firms in particular. So this newsletter contains lots of relevant information about an important aspect of business- and that’s finance.

The importance of getting sound financial advice when it comes to starting up or operating a business of any nature is paramount to the ultimate success of the venture. Having minimal personal skills in this area, I rely completely on my accountant, business advisor and business coach to provide me with information, options and solutions to any issues which arise. It is a minimum requirement for me that they satisfy and meet all the usual obligations and reporting deadlines. I expect them to be proactive in pointing out areas for concern or ideas for revenue generation.

In this issue Andrew France from Experien shares his strategies for sourcing and managing business finances. And Kevin Ryan continues his advice about managing debtors.

Until next time…
I wish you marketing...and financial success!

Rebecca Laskary
www.profilepublicrelations.com.au

In this issue

Secret Women's Business

Singing Her Way to Success
The story of Shalom Andrews

Think Smart when Financing your Business

Top 5 Business Tips

Tips to Reduce your Debtors

Shalom Andrews enjoys entertaining audiences in a style that she has coined ‘vintage jazz and blues’ due to its 1930s-50s origins. From the age of 5 years old in the church choir, Shalom has been entertaining audiences with her amazing talent. She’s worked hard for the success she has earned and has invested her time in an acting degree and arts management, as well as 8 years fronting a 40 piece band called Benjamins Big Band (BBB). This band played a variety of musical styles including jazz, pop, soul and blues. With BBB, Shalom toured the USA and Canada where she performed at Montreal Jazz Festival, Harlem Meer Festival (Central Park, NY), Vancouver Jazz Festival, Wally’s Jazz Club (Boston) and Smoke Nightclub (Broadway, NY). She also sang annually at NSW jazz festivals including Manly, Kiama, Merimbula, Newcastle and Thredbo.

In 2004, Shalom established her own quintet with the purpose of developing a sound that is uniquely their own. [more...]

Having a really good understanding of the options open to you when making finance decisions is crucial. In dealing with accounting practices and small business I have seen examples of where lack of appropriate funds and poor finance options have lead to business decisions that have caused both short term and long term damage to a business, its profitability and return to owners.

Here are a few areas to consider:

Cash Flow...[more...]

Commercial Property...[more...]

Growing Your Business...[more...]

Look after your staff...[more...]

1. While expensive, it can be worthwhile commissioning independent market research for your products or services. You want to know exactly why people are or are not attracted to your offering versus your competitors. Identify the demographic of your consumers and where they are located.
2. There is a lot of noise about brands. Consumers apparently are attracted to brands and will pay a premium for branded products. I guess this is true if they perceive a value in the brand. What does your brand represent? What is its character or identity? Does everything you do reinforce this perception?
3. Once your business has a product to sell about which you are passionate, a sense of marketing should start to consume you...[more...]

I have heard many arguments for or against the use of statements.

Personally, I see no use for statements and in fact believe they can sometimes do more harm than good. I find it better to follow up individual invoices than statements.

The old arguments for statements include:

• We’ve always used statementsThe clients like statements
• The partners like statements
• Some clients will only pay upon receiving the statement...[more...]