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How much is a book keeper that uploads about 8 to 10 invoices to a spreadsheet per week?

from a google documents scanned image of the receipt. read more

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Preferred day of the week and time of day? During working hours or after hours ?

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If you could get warm leads to quote on in your area that you want to cover for your industry, woud you use it?

For a subscription price? if so, what is your industry, where are you located (just suburb and... read more

I have paid for warm leads in the past for my Computer Support business.I am based in Perth Metro, Atwell, Western Australia.I haven't had any success with warm leads turning into a job.They were quite expensive. $10 or more a lead.Each job might earn me profit of between $50 and $150 so it wasn't worth it, especially when they were not converting.I would likely give it a go depending on the cost.
Jef LippiattOwner at Startup Chucktown
I'm not sure I would, but based on the industries I'm in (ecommerce retail of stationery and paper goods and publishing children's books) I am not really in the type of industries that pursue that type of lead funnel. Or at least if I am, I haven't heard of it being used by anyone in my professional networks.I suppose if the items I was selling were big ticket items or recurring subscriptions it would be a different story.
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Questions

I have paid but not yet reconciled as the bank feeds have not updated - is it a problem?

If I have an invoice that has been paid, but not yet reconciled & items, read more

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Questions

I was wondering if there is any apps or programs to keep track of your time?

I have a lot of clients I charge on an hourly rate and I always loose track of time and I end up... read more

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Questions

How do you go about asking for the money off a client before work's done?

Steven FreemanOwner at Evolved Sound
If the spend will be higher - $500->$1000+ for example it is fair an reasonable to request a 30% or 50% deposit upfront upon order confirmation. With that said each client is different and some will never buy that and only pay after delivery against an official Purchase Order. It's balancing act of setting out clear payment terms from the beginning, but within that you may need to have sub (or special) terms for certain types of clients that you can manage the risk for if you still want them to do business with you, but may not fit into your default terms.
Hitesh MohanlalDirector at WOW! Advisors & Business Accountants
Excellent question. As business owners we are afraid that asking for money means we lose the project/ job. What we sometimes forgot is that if we walk away our business will be OK but if we run out of money our business dies. If clients have an issue with paying fees they are usually not a good customer.Customers don't like paying in advance because they want assurances that the work will be done and that there are safeguards in place that should there be a problem it will be fixed. Solve this problem and the resistance falls down. We always ask for a % of money up front if it is one off engagement. In my accounting and bookkeeping business we help the client by spreading payment over 12 months. If they do not pay we stop working and ask for payment. We always give a full money back guarantee. That way the customer feels that if anything goes wrong they is recourse back. If a potential customer refuses we politely tell them that is our policy not to start work without payment and it is included in all our engagement letters. The key i think is to be clear and explain why you are asking for payment in advance and also try to work out why they are not prepared to pay in advance.
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Questions

What it is that stops you from signing up to a course that you know you need?

I know money/payment structure is one and time. But if cash and time wasn't a problem what else... read more

I will likely sign up for an online course if I have seen testimonials and have heard positive feedback from real people I know. Or if I know the person professionally (which sometimes mean I have developed a relationship with them over social media)
Jef LippiattOwner at Startup Chucktown
There are several things that stop meNot offered at a convenient time (based on my schedule - during the week is not great as some companies don't help pay for course so you have to use vacation time to attend - so you are paying twice, the course fee and the vacation days you have to use)Not offered at a convenient location (if it isn't close enough to get to by car or mass transit it will impact decision). If I have to pay for a hotel room (one or more days) that also ups the "total cost" of the course.Negative reviews from other trusted professionals - If I hear that the course instructor was unpleasant or that the material covered was not beneficial, I'd probably not attend.
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Questions

What are the ground rules for SMEs while dealing with the current market scenario?

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Budgeting and forecasting

Is the size of one's salary the key to happiness?

Skip to navigation Skip to content Help using this website - Accessibility statement JavaScript...read more

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Budgeting and forecasting

Budget 2015: Big wins for small businesses. Small wins for startups.

The Australian government is a business in serious debt; and it’s affecting the nation. Customers...read more

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Budgeting and forecasting

Your pricing is wrong: and it’s wrecking your business.

A friend of mine told me that she was “really getting on top of her charge out fees” this year.... read more

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Neil Steggall Partner at Wardour Capital Partners
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Phil KhorFounder at SavvySME
Wow powerful article. It also goes to show that "picking" the right clients is just as important as putting up the right pricing. The right client understands value and wants to buy based on value and quality, not time spent. Thanks for sharing.
Stephen Parker
Powerful message - spot on! More companies could save themselves by taking this on board than just about any other reticle. I had almost gone under before I finally realised the truth of this principle. I wish I had read this two years earlier.
Questions

Is the Australian economy picking up based on your experience?

Hi Everyone, I just spotted this article in the Sydney Morning Herald is everyone experiencing an... read more

Asked by:
Neil SteggallPartner at Wardour Capital Partners
Demand for our services has increased steadily through 2014 but I believe the demand is driven by a concern re the economy and the inefficiency of the banks in meeting small to mid cap business needs. My personal belief is that we are balancing close to the economic edge and are in desperate need of strong leadership and fiscal motivation.
Jeffrey JoelMD at Auspac Trading NSW PL
I run businesses in both restaurant and food wholesale. Since the May budget, I've noticed that the restaurant trade has dropped slightly, probably due to people tightening their belts due to all the negative publicity. However, the wholesale side with deliveries to grocery stores has definitely picked up, as people must be eating more at home.
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Budgeting and forecasting

Help! – sme out of cash!

At which stage do you accept that without a cash injection your business is probably doomed?... read more

Added by:
Neil Steggall Partner at Wardour Capital Partners
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Phil JoelDirector at SavvySME
Hi Neil, thank you for sharing this great article. You raised some fantastic lead indicators to stay on top of the company cashflow. Thank you.
Steve OsborneOwner at Smarthinking
An knowledgeable article packed with excellent advice. Appreciated, Neil.
Budgeting and forecasting

Tips for organising your garage

  Garages often get cluttered because of the accumulation of various things. When your garage is... read more

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Questions

Which sources provide you with data on SMEs to help you plan your business?

Which sources provide you with the data on SME's to help you plan your business and do you think... read more

Asked by:
Neil Steggall Partner at Wardour Capital Partners
Brad Lyons at Rodcha
here are the results in list form. I have X out some of the details. These are all the results returned and then mapped as per the above image based on an ABN search.· 515 XXXXX Tce Fortitude Valley Qld 4006 · CXXXXXXN HXXXXXE LIMITED · cXXXXXXXse.com.au · domains@cXXXXXXXXse.com.au · Webmaster Webmaster · coXXXXXXXe.net.au · coXXXXXXse@domainnamegroup.com.au · CXXXon HXXXe · tXXXXme.com.au · stan.prince@colXXXXXon.com.au · Stan Prince · cXXXm.com.au · Domain Admin · 37 XXXXX St Ascot Qld 4007 · KXXy DXXy · 6 MXXXXyr Rd New Farm Qld 4005 · David GXXy · 351 EdXXXXh Rd Castlecrag NSW 2068 · David LXXXy · 2 BXXXh Ct Albany Creek Qld 4035 · Philip HeXXXsy · 52 EnXXXXy Rd Clayfield Qld 4011 · JulXXXXne ScXXXfer · MXXXw ThXXas · 19 HXXXXw Pl Mcdowall Qld 4053 · Julie TXXXy · Not found · PKF HACKETTS AUDIT · CXXXXXe Limited · Suite 3 484-488 QXXXXXn St Brisbane City Qld 4000 · (07) 3XXXX 0333 · bne.office@cXXXXse.com.au · (07) 3292 XXXX · KeXXX John DXXXX · (07) 3868 XXXX · (07) 3268 XXXX · Daly · 0405 XXX 158 · Mathew John XXXX · Maria Elaine XXXX · Danielle Louise XXXX · (07) 3868XXXX · D Daly · (07) 3868 XXXX · Dl Daly · D L Daly · David Michael XXXX · Unit 15 6 MXXXX Rd New Farm Qld 4005 · (07) 3358 XXXX · David Paul XXXX · Unit 303 21 PXXXX St Kangaroo Point Qld 4169 · Philip Arthur HXXXX · 241 GrXXXX Rd Bridgeman Downs Qld 4035 · Matthew James ThXXXX · 86 HXXXX St Wilston Qld 4051 · (07) 3356 XXXX · 0401 0XX XXX · Julie Margaret TXXXX · (07) 3353 XXX · Jeffrey Colin TXXXX · J C Tealby · J Tealby · (07) 3832 XXXX · (07) 3292 XXXX · (07) 3868 XXXX · (07) 3268 XXXX · (07) 3868 XXXX · (07) 3868 XXXX · (07) 3358 XXXX · (07) 3356 XXXX · (07) 3353 XXXX · domains@cXXXXXe.com.au · XXXX.net.au · XXXXXX.com.au · XXXXXXXXX.com.au · crXXXXXXect.com.au · caXXXXXXXerator.com.au · coXXXXXXse@domainnamegroup.com.au · stan.prince@cXXXXXn.com.au · bne.office@cXXXXXXse.com.au
Brad Lyons at Rodcha
To answer your question on data available on SME's, here is a screen shot of the results based on a search on a company's ABN:http://vunoo.com/images/chresults.JPG It will not be very clear in this image however it is showing the name, address, phone, email, companies, websites for the ceo. Also showing the relatives living at the addresses. Share holder details. Social media accounts and basically anything that is connected to each result. There is plenty of data out there that can help SME's in different ways. From locating someone who owes you money and is trying to hide behind companies. Background checks on new companies that sign up accounts with you or just marketing information. In some cases you don't need to find new data sources, you may just need to look at the data you already have in a different way.I was at a conference last year when someone asked me what I could do to help them find their customers that owe them money. After finding out what their business was initial step they should have taken was in their own data. Before you buy data, look at your own data first from a different angle. As for the actual sources, I have a pretty large collection of current and historical data on business and residential. If you are looking for additional sources of data happy to have a chat and apply a discount for Savvysme members.
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Budgeting and forecasting

Startup costs: When lean isn’t all that lean

We hear a lot about people who have successfully launched businesses on a shoestring budget. Many...read more

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Questions

Do you see the economy improving or deteriorating in 2014?

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Neil Steggall Partner at Wardour Capital Partners
Great question; one to which I think there is no definitive answer and can in fact be both the positive and the negative. I think if you asked 10 economists you would receive 10 different answers, but in 2 years ask a historian and they will tell you exactly what will happen! Given the spiraling national debt we should consider the likely scenario of the Reserve Bank reducing interest rates further to increase inflation to reduce the value of the debt in a controlled and measured way. With such a large debt, it would seem unlikely that the ARB would seek to increase interest and slow growth or inflation and would particularly wish to avoid deflation. If this does happen, businesses and consumers with large debts will benefit from the lower interest rates and the inflation (provided they keep their jobs and businesses afloat that is). Many of our clients in a variety of sectors are looking forward to a growth in their income from 2% - 10% depending on their industry and location. Whether it be farmers due to the favorable crop conditions (again depending on location), manufacturers, importers and exporters alike. Some of the others that started in the past 2 years fear a drop in US Parity as it affects their buying power, but perhaps haven't considered sourcing other markets or comparing AUD to other currencies. In short, the more optimistic the client, the more variable their business model tends to be. If you are able to adapt to the changing conditions, you would see the economy improving as markets open. If you have a rigid or fixed business model, you may see the changes to the economy as deteriorating conditions.
Neil SteggallPartner at Wardour Capital Partners
~~Good answer. I am far from convinced that a lower $AU will be beneficial. Yes in theory it is easier to obtain some export sales, however, currently mining, aviation and agribusiness have enjoyed the advantage of a high dollar by reducing fuel, industrial and agrochemical costs, veterinary medications and supplements, plus massive plant and equipment costs. Not only does the base cost of these items fall but the cost of shipping, freight etc. In each of our intensive agribusiness investments; chemicals, mainly imported, are our second highest cost after labour, followed not far behind by fuel and freight. A tractor has a useful life (for us) of 4  years and (say) a slasher 2 so a low dollar pushes OPEX and CAPEX up. Sure domestic travel may improve but fuel prices, aircraft and maintenance costs will rise therefore the days of ultra-cheap flights will be over. Sun hats, lotions, clothing and even the kids bucket and spade, all holiday essentials are probably manufactured off shore and thus even more inflationary pressure. I am not an economist and there is much I cannot understand yet I question...."is a low dollar an outdated mantra?" If the country was a business I would be concentrating on lifting revenues through core competencies, working to value add and lift unit returns, educating and motivating staff, improving cost and production efficiencies on a daily basis and investing the profits into building the future. The $ is very much like the interest rate for business, plan and work around it. Exchange rate parity or comparison with the US is dated. The US  is a falling star. The US is where Britain was in 1918 and China sits where the US then sat. We need the next rising star as a partner. For how much longer will we buy and sell in US$? The world is no longer Eurocentric. imagine the impact of a 2% interest rate increase, caused by inflation, over the next 2 to 3 years on young families who purchased houses at 5% interest and the flow on effect to property prices. The 2.0m SME's in Australia are the silent majority. If they had access to funding, tax relief to adequately recompense risk, and better education the nation would move forward.     
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Budgeting and forecasting

“We Don’t Have The Budget”

“We don’t have the budget” strikes fear into the hearts of all sales people.  Asking for budget is...read more

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Budgeting and forecasting

5 tips to help get the most out of your budgeting

It's staggering that we are at the half way mark of another financial year. Where did that time... read more

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Andrew OldhamOwner at Shoebooks
Totally agree Michael!
Phil KhorFounder at SavvySME
Michael you made a really good point; for me it's just as critical to understand which strategy and actions is actually going to make the difference in the whole budgeting exercise, so that as a team we know what we need to focus on going forward. Thanks
Questions

Is your SME affected by the long Australian Summer Holiday?

Our main business platforms are finance, equity placement and consulting and effectively we are in... read more

Asked by:
Neil Steggall Partner at Wardour Capital Partners
Ling LeeDirector at Japanese Sword Auctions Australia
Some SME's are seasonal, so yes, they will be affected in a good way :D
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