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The Challenge of Setting a Strategy

It’s always easier said than done, how many times have you hear this, or more importantly said it to yourself? I’ll set my strategy tomorrow, no next week, no next month, I’m just too busy fixing things around here with no time for higher level activities like strategy. Before one knows it, months have passed and nothing has changed. The old proverb comes in mind, “The best time to plant a tree is 20 years ago and the second best time is now”.


Good reporting for strategic planning

Management accounting or key information for strategic decision making is paramount in all businesses. Large organisations have the man power to gather data, analyse and then convert the data into meaningful information. Much of my time within large organisations was devoted to this task and I soon learnt what was important and what was not.


Simple Debt Collection Techniques

Businesses big or small face the same problem when collection debts. There are well financed customers and there are the not so well financed ones.


Small Business Statistics

External administrators had identified that over 50% of failures relate to poor and inadequate strategic management, financial control and cash management. This statistic, read in conjunction with another that over 30% of small to medium sized business owners confess to unwittingly providing inaccurate information to their accountant paints a bleak picture for those small to medium sized business owners who think that they can do it all.


Small business drivers for 2013 by CPA Australia

The CPA Australia Asia-Pacific Small Business Survey 2012 released late last year found that Australian business leaders were more likely than their Asian counterparts to draw on cash reserves. Notably, 75 per cent of 500 Australian small businesses surveyed ran down their cash position because they couldn’t get bank finance.

The survey also found 47 per cent of Australian business operators using personal credit cards to finance business activities over the past year.

Improving cash flow can free up money to fund necessary purchases or investments without having to seek external finance and can be used to pay down debt.


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