Beat Bigger Competitors: Three Ways SMEs Can Crack Valuable Niches
It can be a daunting task to find a way to achieve growth when a larger competitor is dominating your market. It feels like anything you can do, they can do bigger and better. They have all the financing they need, while you struggle to raise investment funding and meet your cash flow needs. Plus […]
How to Avoid the Pitfalls of Sourcing and Shipping
Offshore product sourcing and shipping are the twin scourges of many an Australian SME. They are expensive and play havoc with cash flow; they are time consuming and complicated to arrange; and both expose the business to financial and logistical risks. For those involved in the manufacture of goods in particular, shipping can be an […]
There’s Never Been a Better Time to Start Exporting
Becoming an exporter has always been a major step forward for any business, and today’s ambitious SMEs are no exception. However, while global markets still provide the key to next-level growth it is actually easier than ever before for Australian enterprises to take the plunge and start selling abroad. Businesses wanting to expand their trading […]
So Much Progress But What Now For Growth?
John purchased a building services business a year ago and with our help has successfully transformed the business through: Right sizing their operational costs Increased their productivity through correction and improvement of processes and detailed position descriptions and workflows Implemented technology to automate the previously manual sales to product delivery cycle and flipped a 80/20 […]
Lack of Business Finance Means Lost Opportunities
If your business has all the funding it needs to keep trading successfully it may be in the happy minority among Australian SMEs, but this isn’t an ideal situation if you can’t invest and grow. Have you ever thought about the cost of not investing? At OptiPay (OptiPay), we spend a lot of time talking […]
Bad Trade Debt: Five Ways to Protect Your Business
In our last article we looked at the dangers of providing credit to customers by giving them 30 or even 60+ days to pay for your goods and services. We compared this to juggling hand grenades in your office, never knowing if one of these trade debts is going to ‘go off’ and destroy your […]
Credit Terms: The Live Grenade Under Your Business
If you are an SME that supplies other businesses (B2B), the chances are that you are also a lender. In fact, you’re part of Australia’s second largest business funding sector, after banking. This is because most businesses extend credit to each other: whenever you agree that an invoice can be paid 30, 60 or even […]
How Much Should Business Owners Pay Themselves?
The question of how much a business owner should pay themselves hit the headlines in Australia recently. For established SMEs, suitable business funding and healthy cashflow are the keys to happy earnings. Boost Juice founder Janine Allis recently told SmartCompany that “the smartest thing you can do as a new business owner is put your […]
How to Cut Costs and Make Your Business Better!
When concentrating on growth and realising their business vision, most entrepreneurs tend to focus on sales. But there comes a point where you will want to make your business as profitable as possible, either in advance of your exit, or because you want to reap the rewards of what you’ve built. At this point, it […]
A BIG Business solution utilised by a small business with exciting results
Our new client is a small but fast growing business in the corporate Promotional Products sector. They have operated their profitable promotional items business for five years with great success. They want to grow and are pitching for larger corporate accounts with great success, but are faced the following problems: 1.…Limited asset security (it’s an […]