Six Tips for Your Business Survival and Success in 2009 Stuart Bale General Manager – Accounting Partners

#1 – Know why you’re in business What are your dreams, vision & goals Why did you start your business: http://www.e-myth.com/ Talk with your friends & family – they remember One page business plan: http://www.onepagebusinessplan.com/

What are your dreams, vision & goals

Why did you start your business: http://www.e-myth.com/

Talk with your friends & family – they remember

One page business plan: http://www.onepagebusinessplan.com/

#2 – A bird in the hand Identify your top customers Call and visit them regularly Say “Thanks!” Ask them what else you can do (and how much they would pay) Invoice your work, now Offer discount if they pay up front, or before the due date Ensure you deliver great service, everytime

Identify your top customers

Call and visit them regularly

Say “Thanks!”

Ask them what else you can do (and how much they would pay)

Invoice your work, now

Offer discount if they pay up front, or before the due date

Ensure you deliver great service, everytime

#3 – Tell people what you do Know your Distinctive Competence Believe in your products & services, and yourself Make sure the right people hear Recognise and encourage referrals Word of Mouth Marketing: http://www.womma.org/ Easy Online Promotion: http://www.davidmeermanscott.com/

Know your Distinctive Competence

Believe in your products & services, and yourself

Make sure the right people hear

Recognise and encourage referrals

Word of Mouth Marketing: http://www.womma.org/

Easy Online Promotion: http://www.davidmeermanscott.com/

#4 – Spend every dollar like it’s your last Be sensible, take control Spend, don’t hoard Cashflow is the cornerstone of your business (and every other business) Renegotiate prices with suppliers Don’t carry dead wood, it costs you Products Clients Staff Services

Be sensible, take control

Spend, don’t hoard

Cashflow is the cornerstone of your business (and every other business)

Renegotiate prices with suppliers

Don’t carry dead wood, it costs you

Products

Clients

Staff

Services

#5 – Be financially well organised Understand your current financial position Cashflow Profitability Liquidity (particularly if you have stock) Determine what you want to achieve (budget) Record your progress (actuals) Know your financial state every day, more than just your bank balance Use the world’s easiest accounting system

Understand your current financial position

Cashflow

Profitability

Liquidity (particularly if you have stock)

Determine what you want to achieve (budget)

Record your progress (actuals)

Know your financial state every day, more than just your bank balance

Use the world’s easiest accounting system

#6 – Get help Don’t try and do it all yourself Accountant Bank Manager Customers Suppliers Staff Online resources http://blog.xero.com/2009guide/ Visit the Xero stand for more

Don’t try and do it all yourself

Accountant

Bank Manager

Customers

Suppliers

Staff

Online resources http://blog.xero.com/2009guide/

Visit the Xero stand for more