Inside Business Success - Webinar


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How to Get More Customers, Generate More Profits and Make Your Business a Remarkable Success.

What underpins business success? We believe that the ability to bring in customers and to generate a profit are two essential elements. Additionally, the ability to manage cash flow is an element that can make or break a business.

“Inside Business Success” is a webinar designed to show you how to create a remarkable business through good business fundamentals, and sponsored by American Express.

Three guest speakers will join us: Fiona Pascoe (120percent Sales Training), Jason Fryer (American Express) and Michael Fox (Shoes of Prey).

What we will look at:

-Getting customers. You can only succeed if you have enough business to sustain you. So, how to get more customers?
-How do you best manage your cash flow? Being profitable does not necessarily mean being liquid. A company can fail because of a shortage of cash even while profitable.
-Profitability. You may have cash in the bank but how do you if you’re business is profitable? What indicators will help make your situation crystal clear?

Download this webinar from the Australian Businesswomen's Network website here:

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Inside Business Success - Webinar

  1. 1. INSIDE BUSINESS SUCCESS <ul><li>How to Get More Customers, Generate More Profits and Make Your Business a Remarkable Success </li></ul><ul><li>with Fiona Pascoe, Michael Fox and Jason Fryer </li></ul>
  2. 2. Suzi Dafnis <ul><li>Australian Businesswomen’s Network </li></ul>Inside Business Success
  3. 3. Q&A Inside Business Success
  4. 4. Inside Business Success TWITTER Follow along @suzidafnis Use tag: #abnsuccess NOT ON TWITTER? Fiona: @Fiona_Pascoe Michael: @shoesofprey Jason: @AmericanExpress
  5. 5. Sponsored By: Website:
  6. 6. Inside Business Success Fiona Pascoe 120percent Sales Training Michael Fox Shoes of Prey Jason Fryer American Express
  7. 7. Inside Business Success Fiona Pascoe Managing Director, 120percent Sales Training Twitter: @Fiona_Pascoe Website:
  8. 8. Inside Business Success
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  21. 21. Inside Business Success Jason Fryer Head of Small Business Card Services, American Express Australia Limited Website:
  22. 22. Inside Business Success Managing your cash flow Jason Fryer Head of Small Business Card Services American Express Australia Limited
  23. 23. Inside Business Success Cash flow issues <ul><li>Managing cash flow a major concern </li></ul><ul><li>90% small business failures caused by poor cash flow </li></ul><ul><li>Average payment terms for small businesses risen to 56.6 days </li></ul>
  24. 24. Inside Business Success American Express Small Business Pulse Survey <ul><li>Continuously worried about cash flow </li></ul><ul><li>Easy access to credit is vital to small business owners </li></ul><ul><li>Most small businesses regularly take steps to ensure their cash flow is healthy: </li></ul><ul><ul><li>72% have had to take action to avoid cash flow shortages </li></ul></ul><ul><ul><li>44% have dipped in to personal savings </li></ul></ul><ul><ul><li>36% have used credit cards to help improve cash flow </li></ul></ul><ul><ul><li>27% have delayed supplier payments </li></ul></ul><ul><ul><li>23% have borrowed money </li></ul></ul>
  25. 25. Inside Business Success Tips for improving cash flow <ul><li>Review trading terms against industry average </li></ul><ul><li>Clearly stipulate payment terms in terms & conditions </li></ul><ul><li>Invoice immediately </li></ul><ul><li>Don’t extend credit if you don’t have to </li></ul><ul><li>Be vigilant with debtor management </li></ul>
  26. 26. Inside Business Success Tips for improving cash flow <ul><li>Compile cash flow forecast </li></ul><ul><li>Keep abreast of cash coming in and out of the business </li></ul><ul><li>Keep original receipts and reconcile against bank and credit card statements </li></ul><ul><li>Keep personal and business expenses separate </li></ul><ul><li>Speak to accountant for specific strategy </li></ul>
  27. 27. Inside Business Success Payment Methods <ul><li>Small business owners rely primarily on credit/charge cards and EFT to pay business expenses </li></ul><ul><li>Credit and charge cards are the preferred method for one-off and travel-related business expenses </li></ul>
  28. 28. Inside Business Success How plastic adds elastic <ul><li>Track expenses and manage budget and cash flow </li></ul><ul><li>Avoid hassle of trawling through multiple invoices and receipts when preparing BAS statements </li></ul><ul><li>Consolidate purchases with one bill to pay and more time to pay it </li></ul><ul><li>Access business card programs offering major discounts on a range of goods and services </li></ul><ul><li>Earn points on business purchases </li></ul>
  29. 29. Inside Business Success How an American Express Business Card extends cash flow
  30. 30. Inside Business Success Choosing the most suitable card for your business <ul><li>Shop around to find the right match </li></ul><ul><li>Consider credit limit and credit-free days </li></ul><ul><li>Address payment terms </li></ul><ul><li>Rewards program </li></ul><ul><li>Consider credit or charge options </li></ul>
  31. 31. Inside Business Success Built for business owners <ul><li>Information on American Express Small Business Cards can be found at: </li></ul><ul><li> </li></ul><ul><li>For 20,000 Bonus Membership Rewards Points go to: </li></ul><ul><li> </li></ul>
  32. 32. Inside Business Success Michael Fox Director of Operations and Co-Founder, Shoes of Prey Twitter: @shoesofprey Website:
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  34. 34. Shoes of Prey allows women to design their own shoes on our website, which are then handmade and shipped anywhere in the world. Launched 18 months ago, grown to 15 staff. Profitable, cash flow positive, strong balance sheet. Inside Business Success What we do
  35. 35. Inside Business Success Cash Flow, Balance Sheet, Profit & Loss <ul><li>Cash Flow </li></ul><ul><li>When is money received and payments due? </li></ul><ul><li>E.g. Consulting business - pay staff, office space etc. Payment due 30 days after project finished. </li></ul><ul><li>Balance Sheet </li></ul><ul><li>What assets does the business have? </li></ul><ul><li>What liabilities does the business have? </li></ul><ul><li>E.g. Manufacturing business - high equipment assets and high liabilities to get the operation set up. </li></ul><ul><li>Profit and loss </li></ul><ul><li>How much profit or loss is the business generating? </li></ul>
  36. 36. Inside Business Success Cash Flow, Balance Sheet, Profit & Loss <ul><li>Important to be across all 3 </li></ul><ul><li>Traditional retailer -  </li></ul><ul><ul><li>Buy product </li></ul></ul><ul><ul><li>Fitout a store </li></ul></ul><ul><ul><li>Hire staff </li></ul></ul><ul><li>While they might be profitable, traditional retailers might fail due to cash flow issues. </li></ul>
  37. 37. Inside Business Success Cash Flow, Balance Sheet, Profit & Loss <ul><ul><li>Shoes of Prey </li></ul></ul><ul><ul><ul><ul><li>Receive cash first, no stock </li></ul></ul></ul></ul><ul><ul><ul><ul><li>No physical store </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Xmas - gift certificates </li></ul></ul></ul></ul><ul><li>Great for cash flow. Mindful of profit/loss and balance sheet or we risk overextending. </li></ul>
  38. 38. Inside Business Success Q&A Use the Question Pane to Ask Your Questions Fiona Pascoe Jason Fryer Michael Fox
  39. 39. Sponsored By: Website:
  40. 40. Thank you Inside Business Success Fiona Pascoe Michael Fox Jason Fryer
  41. 41. Become a member today. Inside Business Success