While I’m a big advocate for business people taking charge of their finances, I am the last to say that everyone needs the same kind of help. As I mentioned in my last post, it’s a case of horses for courses – and no two...
As a ‘finance guy’, I’m more than aware that people aren’t exactly fascinated by what I do. Maybe it’s because bean counters have a reputation for being boring; maybe it’s because we throw around unattractive phrases like ‘aged payables’. Whatever the case, I’ve seen countless...
Figure Eight Finance Founder, David Thomas has been featured in this month's edition of Acuity Magazine. Australian business journalist, Ben Hurley tells the story of how David left a corporate career in the city for the surf, to turn around charities and credit unions, and...
There are many different types of people who run ‘creative’ businesses – from fashion designers to filmmakers. While they face different challenges, there is one area that tends to unite them all: the dreaded matter of money. Finance isn’t just a dirty word for many creative...
No matter what your size you need to have solid governance practices. It is often said that the character of an organisation is reflected frim the ‘tone at the top’. The recent problems of the NSW RSL illustrate the decay and eventual disaster that can...
If this is your view of cyber security, I strongly suggest you reevaluate and re-asses your internet security. SME’s are easy targets and becoming more and more the victim of cyber-attacks. The recent WannaCry cyber-attack demonstrated just how vulnerable a business can be without adequate...
Your business plan is your guidebook. As a minimum the plan defines the ‘business’ and outlines structural and operational requirements. It is traditionally a start-up document that serves as a detailed one year set-up plan, but can be and should be used throughout the life...
I was recently asked of the benefits of a business plan and if was really necessary? For many small business’s the components of a business plan seem intrinsic and don’t see the point of documenting what is second nature and reflex to their thinking. The...
It is one of the oldest clichés around yet it amazes me how so many businesses fall short in their planning process. One my mantras is that before you do anything it is ‘important to set the foundations’. Without a solid planning process there is...
The term NFP (not for profit), for those unaware is a shortening for 'not for profit of the members'. With many charities being associations of members the term refers to the requirement that no profits are to be distributed to the members. Unfortunately in my...