Increase Profit, Efficiency and Financial Clarity

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There are many ways you can acquire more customers or retain existing for longer. Typically it comes down to two types of constraint, Supply and Demand. Supply constraints refer to the inability to service or meet the demand in the required time-frame. Some examples are service inefficiencies, lack of skilled staff, limited operating hours or in some cases size of physical location. Demand constraints involve excess capacity to meet current demand meaning the ability to do more but lacking sufficient customers. Some examples include inability to attract new customers or make them aware you exist, under-utilised capacity/space or wasted service offering/upsell opportunity.

We talk more about this in our blog post, click link below to find out more:

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Lack of businesses profitability can be for a variety of reasons including: poor financial management, high expenses, lack of demand, flawed business model, ineffective lead generation & sales process, lack of innovation, poor hiring/staff training, inefficient systems and processes, ineffective marketing strategy and many more.

Check out our blog posts to learn some new ways of tackling some of these issues:

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There is not one correct answer, every accounting software has its own unique features and benefits. 

Typically we would suggest Xero for our clients as it offers an all-round, easy to use platform which has a wide range of apps to integrate with and makes bookkeeping easy.

Fresh books is our recommendation for service based businesses or freelancers, offering an easy to use platform and effective cash collection method with customisable invoices and automated payment reminders.

Zoho is a budget-friendly platform we suggest if you only require basic features.

These platforms all seamlessly integrate with POS (point of sale) systems such as Square allowing for effective cash collection and tracking.

Short Answer: Does the time (and money) you currently spend on marketing yield higher returns than if you spent working in the business (e.g. serving customers). The answer is probably no unless you get a high level of satisfaction or enjoy creating posts, content or are good at it, which means yes you absolutely should consider outsourcing you marketing! We have a network of agencies we partner with which deliver highly effective results, if you are interested in learning more contact us and we can help you find the right fit for you business!

You're focusing on trying to do everything and not doing what makes your business good, focus on what you are good at and be the best then find the people who are great at doing what you aren't

Businesses vary significantly depending on industry, size and competition. The Australian Taxation Office (ATO) defines a small business entity as generating less than $10million in annual revenue. A desirable gross profit margin typically ranges between 50-70% (gross profit margin = Cost of goods minus revenue divided by total revenue multiplied by 100). The net profit will vary significantly depending on industry or service but you will want to ensure it doesn't fall below 10-15% of total revenue or you may need to assess where your constraints are (i.e supply or demand).

If customers are leaving, it usually means you aren't delivering enough value to them to justify continuing to buy. Whether that means a competitor is offering something better or your service level isn't meeting their expectations is something you may need to ask yourself. It is much more beneficial to spend a bit of money or giving your existing customer more value than to acquire a new customer to replace them. Find out what your customers reasons are for continuing to buy from you and why others are leaving. You don't have to sell to everyone and you don't need to fight for every customer. Focus on retaining your high value, low stress customers through exceptional service, building trust & rewarding loyalty.

If you need help feel free to get in contact and we can help identify the reasons and come up with strategies to help your business continue to grow.

If you aren't increasing costs every year in line or ahead of inflation you are losing money. People get frustrated over price increases mainly because they don't want to pay more for the same product or service than they previously paid. The best way to get around this is by adding value before adding cost. In other words, change your offering so that they now pay more but get more value out of it. Typically this is only an issue when we are dealing with larger purchases if your local cafe increases their coffee prices by $0.30 it's unlikely to make a significant difference, especially if the reason the customer goes there is the happy face with kind words and a delicious tasting coffee every morning. A price increase of 5-10% can make a difference in the decision makers mind in higher value circumstances but by applying the same logic and removing cost as a barrier ask yourself does the quality of the product and level of service justify paying extra? If yes, it shouldn't matter as long as you are transparent and give your customers notice. If no, what else can you offer to bring them more value? an additional feature? or maybe it's a case of "In order to continue delivering X value we need to increase our prices".

If you need help and are unsure of how your customers will react to price increases, we can help. Contact us today!

Many reasons: your prices are too low, you spend too much time on low-value work or low-value customers, you aren't attracting the right customers or you aren't tracking your numbers and don't have the right systems in place.

This can vary a lot across different industries but the type of marketing that is most effective is marketing that brings value to people or businesses. Whether its educational, promotional cost saving offers, trust building (gives people ease of mind), marketing that drives action and keeps you relevant. Using a variety of media's whether its email, text, social, etc. can all be effective. Typically businesses operating in a Business-to-consumer (B2C) market which provide a physical product or service get better results using visuals on platforms like Instagram, Facebook & Tiktok. Business-to-business (B2B) often have better results via email and social platforms as well as in-person sales meetings.

A good agency will be very transparent, having clear KPI's (including ROAS, cost per lead/click, conversion rate, etc.), improve results over time, bring you quality leads and have a direct impact on revenue. It's important that you are getting the results you want, usually that is sales, if they can't show you a direct correlation of their impact then they probably aren't performing well.

Hiring the right people starts with attracting the right people. You need to be clear with exactly what you want and what the role entails then focus on candidates which have the right attitude, skills can be learned. People are the most important part of any business without the right people no business will thrive so if you are experiencing any staff bringing the team down it's important they are removed quickly. The most successful businesses are constantly recruiting even when they aren't hiring. Hiring can and should be a slow process, you need to ensure you are attracting the right talent and not only appearing as a great place to work but actually being one.