The Difference Between Markup and Margin

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Many people starting a business run into trouble when they fail to understand the difference between markup and margin. Most people will price their jobs based on markup rather than margin.  Yet it is the margin that represents the profit in the job, hence it is the margin that is of most interest to us. […]

How to Keep Your Overheads Low When You Start Your Business

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Keeping your overheads low is super important when you start your business. Because when you start your funds are often limited… plus there can be more money flowing out than flowing in. So how do you keep your overheads low? Start by following these 3 steps: 1) Work out what your overheads are The first […]

Is Your Business Model Helping You or Hurting You?

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Many small business owners have never even considered their business model, and so they don’t know if it’s helping or hurting them. They don’t even know what’s really going on underneath their business, and sometimes business is a whole lot harder than it needs to be, because they never took the time to establish a […]

How to Make Better Financial Decisions in Your Business

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Would you like to make better financial decisions in your business? Many small business owners make their financial decisions based on what’s in their bank account (or what’s not in their bank account).  Or it is based on how they are feeling and this can be a recipe for disaster. Business is a numbers game […]

How to Increase Profit in Your Business

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Would you like to make more profit in your business? Often, when you are thinking about improving profit, you think of generating more sales and income. Have you considered the other side of the equation – your expenses? The best part about this is if you can save some expenses in your business it goes […]

Are You Working Hard and Going Broke?

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Are you putting lots of time, energy and effort into your business but not moving ahead financially? Then you could be working hard and going broke. The sad thing is that this story is all too familiar for small businesses especially in the first five years.  Many just try and work harder and harder trying […]

The Easiest Way to Make More Profit

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Would you like to make more profit in your business? Too often when business owners want to make more profit they think ‘I need to grow my sales’.  While that’s true to a point, one of the easiest places you can increase your profitability is to take a look at your expenses. The best thing […]

The Importance of Knowing Your Numbers in Your Business

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Business is a numbers game. It is essential to know your numbers so that you can maintain focus and have visibility on what is going on in your business. So are your numbers up to date? If you know your numbers, you will know where you are at in your business. Your financial numbers are […]

How To Get Your Pricing Right

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Have you ever been stuck in a situation where you are unsure of whether your pricing is too high or too low? It can be very tricky to get your pricing right because there are a number of variables for you to consider. This includes your competitors, your market or the external environment surrounding your […]

How Many Sales Do You Need To Make The Profit You Want?

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A question we often get asked is how many sales do I need to make to make the profit I desire? So what is that magic number for you? Most business owners are wishy-washy with their sales numbers and will either just take whatever that comes their way or they think ‘as much as they […]