Welcome to my Small Business Blog

small business bookkeeping

Small Business Bookkeeping

Small business bookkeeping is one of those activities that no one really wants to do. Many small business owners have very little experience with accounting processes before opening their doors. But it is one of the important tasks in running a small business. Tracking your transactions to calculate profits, and working out who owes you money, and how much tax … Read more

what is swot analysis

What is SWOT Analysis?

SWOT Analysis is a tool to analyse your business operations to seek growth opportunities and is an important step in evaluating your business model. So what exactly is it? SWOT stands for strengths, weaknesses, opportunities and threats. Strengths and weaknesses are internal factors and opportunities and threats are external or environmental. The object of the analysis is first to identify … Read more

business performance management

Business Performance Management

Performance management is a term that is used in several different ways. To some, the term means the management of the performance at an organizational, department or team level. But to others, it means measuring the performance of individuals within an organization. Performance Management is: … activities that ensure that goals are consistently being met in an effective and efficient … Read more

EOMONTH- an Excel Formula Worth Knowing

EOMONTH – a wonderful formula that saved me a lot of time and mucking around today! People say you learn something new every day, and I am really happy when that is true. Today I have been fiddling with an Excel Workbook that is the financial plan for my business. I was provided with one to use and I had … Read more

business plan mistakes

Common Business Plan Mistakes

Do you have a working business plan? By that I mean a document that has no business plan mistakes, that guides your decision-making processes and is updated regularly. A carefully crafted business plan (along with the supporting analysis) can make a huge difference in the operational performance of your business. Maybe you writing a small business plan for your new … Read more

Business Financial Plan

One of the important sections in a small business plan is the financial plan for the business, particularly during the startup phase. Many larger organisations will continue the business financial planning process by forecasting an annual budget for a period of years (often 3 – 5 years). The financial plan or budget is then used as an operation planning tool … Read more

Small Business Management Skills

Let’s talk about business management skills. Every small business involves fairly complex business management processes if it is to be successful. In a larger organisation, there are typically several specialised functions within the organisational structure. In a small business, these functions are handled by one or two people – the owner and maybe an admin person. And neither of those … Read more

Small Business Pricing Strategies

Getting your small business pricing strategies right is critical to the success of your business venture. The factors that will influence the prices you set for your products or services include: Your Product Costs In most situations, the cost of your products will determine the lower limit of your prices. To accept a price that is lower than the cost … Read more