Six Tips for Your Business Survival and Success in 2009 Stuart Bale General Manager – Accounting Partners
#1 – Know why you’re in business <ul><li>What are your dreams, vision & goals </li></ul><ul><li>Why did you start your bus...
#2 – A bird in the hand <ul><li>Identify your top customers </li></ul><ul><li>Call and visit them regularly </li></ul><ul>...
#3 – Tell people what you do <ul><li>Know your Distinctive Competence </li></ul><ul><li>Believe in your products & service...
#4 – Spend every dollar like it’s your last <ul><li>Be sensible, take control </li></ul><ul><li>Spend, don’t hoard </li></...
#5 – Be financially well organised <ul><li>Understand your current financial position </li></ul><ul><ul><li>Cashflow </li>...
#6 – Get help <ul><li>Don’t try and do it all yourself </li></ul><ul><ul><li>Accountant </li></ul></ul><ul><ul><li>Bank Ma...
 
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Six Tips for Your Business Survival and Success in 2009

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How small business can weather tough economic times.

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Six Tips for Your Business Survival and Success in 2009

  1. 1. Six Tips for Your Business Survival and Success in 2009 Stuart Bale General Manager – Accounting Partners
  2. 2. #1 – Know why you’re in business <ul><li>What are your dreams, vision & goals </li></ul><ul><li>Why did you start your business: http://www.e-myth.com/ </li></ul><ul><li>Talk with your friends & family – they remember </li></ul><ul><li>One page business plan: http://www.onepagebusinessplan.com/ </li></ul>
  3. 3. #2 – A bird in the hand <ul><li>Identify your top customers </li></ul><ul><li>Call and visit them regularly </li></ul><ul><li>Say “Thanks!” </li></ul><ul><li>Ask them what else you can do (and how much they would pay) </li></ul><ul><li>Invoice your work, now </li></ul><ul><li>Offer discount if they pay up front, or before the due date </li></ul><ul><li>Ensure you deliver great service, everytime </li></ul>
  4. 4. #3 – Tell people what you do <ul><li>Know your Distinctive Competence </li></ul><ul><li>Believe in your products & services, and yourself </li></ul><ul><li>Make sure the right people hear </li></ul><ul><li>Recognise and encourage referrals </li></ul><ul><li>Word of Mouth Marketing: http://www.womma.org/ </li></ul><ul><li>Easy Online Promotion: http://www.davidmeermanscott.com/ </li></ul>
  5. 5. #4 – Spend every dollar like it’s your last <ul><li>Be sensible, take control </li></ul><ul><li>Spend, don’t hoard </li></ul><ul><li>Cashflow is the cornerstone of your business (and every other business) </li></ul><ul><li>Renegotiate prices with suppliers </li></ul><ul><li>Don’t carry dead wood, it costs you </li></ul><ul><ul><li>Products </li></ul></ul><ul><ul><li>Clients </li></ul></ul><ul><ul><li>Staff </li></ul></ul><ul><ul><li>Services </li></ul></ul>
  6. 6. #5 – Be financially well organised <ul><li>Understand your current financial position </li></ul><ul><ul><li>Cashflow </li></ul></ul><ul><ul><li>Profitability </li></ul></ul><ul><ul><li>Liquidity (particularly if you have stock) </li></ul></ul><ul><li>Determine what you want to achieve (budget) </li></ul><ul><li>Record your progress (actuals) </li></ul><ul><li>Know your financial state every day, more than just your bank balance </li></ul><ul><li>Use the world’s easiest accounting system </li></ul>
  7. 7. #6 – Get help <ul><li>Don’t try and do it all yourself </li></ul><ul><ul><li>Accountant </li></ul></ul><ul><ul><li>Bank Manager </li></ul></ul><ul><ul><li>Customers </li></ul></ul><ul><ul><li>Suppliers </li></ul></ul><ul><ul><li>Staff </li></ul></ul><ul><li>Online resources http://blog.xero.com/2009guide/ </li></ul><ul><li>Visit the Xero stand for more </li></ul>

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