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10 Ways to Get a Grip on Time

Living the dream is published on the 27th of every month by Tania Basheer of Blue Sky Coaching.
blueskycoaching.com.au
by Tania Basheer, Publisher

10 Tips for Better Business Cash Flow Management



Vol 7, Issue 7
27 July 2011

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Quote of the month

'Anyone who lives within their means suffers from a lack of imagination.'

- Oscar Wilde

Next month's feature:

10 Ways to Get a Grip on Time

In this issue:

Welcome!

Welcome to Living the dream, Blue Sky Coaching's monthly e-zine, written for small business owners, young entrepreneurs and service industry professionals and filled with cutting edge success tips to help you skyrocket your income, enjoy more personal time and be known as a star in your field. 

If you enjoy receiving Living the dream e-zine, please pass it on to anyone else you think might like to receive it too. Every 50th subscriber will receive a $50 Myer gift card and so will you, if you were responsible for referring them.

You can read all previous issues of Living the dream e-zine any time at: www.blueskycoaching.com.au/ezine.

Hi! from Tania

Hi there,

I can hardly believe it! Today is my little boy Jake's fifth birthday and this week he started school in Reception. Here he is looking gorgeous in his school uniform.

This week's also my forty-fifth birthday. Yikes!

Being a party 'mama', I've organised a completely over-the-top circus-themed party at home for Jake this year, complete with Fritz Sandwich the Clown, a face painter and balloon animal lady, fairy floss on a stick, rainbow icecream cake, a circus tent pinata and clown jumping castle. Jake and Holly will be dresssed up as clowns too. Then there are the decorations, games and party favours!! Now we just need it to not bucket down with rain! Coincidentally, we had the pleasure of seeing the Great Moscow Circus last week too (it was spectacular) so I'm hoping Jake won't try to repeat the world's fastest somersault on our trampoline.

I, on the other hand, have drawn the short straw this year and will be spending my birthday watching Port Adelaide play Adelaide at AAMI Stadium. 

Warm wishes,

Tania

Tania Basheer - Publisher
Living the dream e-zine
tania@blueskycoaching.com.au

Feature: 10 Ways to Increase Your Business Cash Flow

Do you find managing your business's cash flow tricky? It could be dependent on the seasons, or lumpy because you're not very organised or systematic in invoicing or collecting it. Ouch!

Here are 10 ways to start ironing out those fluctuations and smoothing your business cash flow so you're never left feeling financially stressed:

  1. Make it as easy as possible for people to pay you: Always clearly show your banking details on your invoices and any other payment options that you accept, such as credit card payment by phone and include your phone number.
  2. Make payment by credit card an option: If you don't currently offer credit card payments as an option, consider doing this and extending credit to your clients or customers. This can also dramatically speed up payments, as cash availability is often an issue for slow payers.
  3. Understand your stock levels: Knowing how many days it takes for your stock to turn over will help you avoid over-ordering stock and having cash tied up in your inventory.
  4. Get to know how long on average it takes you to get paid: Then, offer incentives to your clients or customers to speed up payments, such as discounts for advance payments.
  5. Take advantage of your supplier payment terms: Similarly, if cash flow is an issue, pay as many of your bills as possible using a business credit card. This will help keep cash in your business as long as possible.
  6. A bank overdraft facility can help smooth out cash flow fluctuations: This is especially the case if your business is seasonal or some months are traditionally quieter than others in your business. 
  7. Know what to expect from month-to-month: Don't rely on your bank balance as the primary indicator of your business's cash position. Use cash flow budgets to know how much money you can expect to see flowing into and out of your business from month to month. This will help you plan for any large payments due such as tax instalments or one-off large bills.
  8. Invoice regularly: If you don't invoice regularly how can you expect to be paid regularly? Make invoicing a high priority at all times and always include the due date and payment terms on your invoices.
  9. Stay on top of debt collection: Send friendly reminders to speed up collection of overdue accounts and don't delay in using a debt collection agency to help you when you're finding it difficult to collect a payment. If there are repayment issues, suggest an immediate initial deposit, with a regular ongoing repayment schedule. Ensure you have good credit control procedures in place too to avoid bad debts.   
  10. Maintain good record-keeping systems: These will help you to manage all of the above! If you need help in settting up or maintaining record-keeping systems, hire a bookkeeper or ask your accountant to help you. 

If you'd like any assitance in implementing any of these ten  concepts, please give me a call. I'd be delighted to help you.

More tips: 10 Secret Ingredients for SOHO Business Success; 10 More Tips for SOHO Business Success; 10 Marketing Strategies for Your SOHO Business ; 10 Things to Do When Business Goes Quiet; 10 Business Development Strategies for Professional Practitioners; 10 Ways to Attract All the Clients You Need10 Tips for Successful Strategic Alliances.    

For more business and life coaching tips to help you achieve your goals and create and live the life you've always wanted, visit: www.blueskycoaching.com.au/ezine/index.php. To find out more about how you can work with me personally, visit: www.blueskycoaching.com.au,  or call me on 0411 471 941 or (08) 8338 3134 or e-mail me on tania@blueskycoaching.com.au.

 


August EFT Circle - Overcoming Addictions with EFT

Join me next month for our August EFT Circle meeting.

Note: Please BYO water as we always do some hands-on EFT and it's essential to stay well hydrated when doing any energetic healing work.

When: Wednesday 17 August 2011

Topic: Overcoming Addictions with EFT

EFT can be a very supportive and effective technique to help overcome addictive behaviours, including smoking, alcohol, drug use and gambling.  

Where: The Boardroom, Fullarton Park Community Centre, 411 Fullarton Rd, Fullarton SA

Time: 7.30 pm to 9.30 pm.

Cost: $10.

RSVP: By Monday 15 August to Tania at tania@energytappingworkshop.com or on 0411 471 941 if you'll be joining us, and/or if you'd like to be included on my EFT mailing list.

Our EFT Circles are for anyone in the community interested in exploring EFT applications.

To learn this simple, proven technique, or to work with me in a 1:1 session personally, visit my EFT website: www.energytappingworkshop.com or call me on (08) 8338 3  134 or 0411 471 941 to discuss your needs.


Let Me Know What You Think of My New EFT Website!

Check out my new EFT website at: www.energytappingworkshop.com and let me know what you think.

When you do, you'll also be entered automatically in my monthly prize draw to WIN a copy of my EFT Home Study package, valued at $97. 

EFT is a great technique to help with overcoming fears and phobias - like public speaking - as well as any negative thoughts and behaviours that might be holding you back from living life the way you'd truly like to.


Winter Coaching Competition - Drawn 31 August

Winter Competition - Win over $500 value!

Enter now! WIN a copy of Lounge to Boardroom: Inspirational stories of successful South Australian women in business by Ashley Knoote-Parke and 2 business coaching sessions with me, in person or by telephone, valued at over $500!

End of financial year competition winner: M. Abraham


A Special Offer from BPlan - On-line Business Planning

BPlan is a great online business planning tool that I'm really excited to share with all of my business owner and entrepreneurial clients.

It uses a step-by-step approach to deliver a clear and concise plan. It also takes the guesswork out of the planning process and will challenge you, in a positive way, to really think about the critical issues facing your business. So, if cash flow is one of your important issues, what strategies and actions will you use to manage it?

BPlan will then help you  follow through with your actions and meet any deadlines with a series of automatic reminders. Managing team members can also be an issue. With this tool, you can allocate tasks to your team, and let BPlan track these for you. You'll be more efficient, positive and effective as a result of BPlan, which is great for the business as well as great for you!

You are invited to receive 30% off your monthly subscription fee if you subscribe to BPlan before 31 July. Simply visit www.bplanlive.com, select the plan most suitable for your business and enter the promotional code: BLUESKYC  


Sponsors and Advertisements

 

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Wake Up Your Bones - 4 August 2011

www.rubyconnection.com.au

 

Did you know that after the age of 35 our bones start to lose calcium faster than they absorb it? 

To hear the leatest research findings and bone nutrition facts, Westpac Women's Markets and Dairy Australia have booked one of Adelaide's best seaside restaurants, Phore Seasons Restaurant at Semaphore, owned by celebrity "Iron Chef" Judyta Slupnicki, to host a delicious, calcium-rich luncheon during National Healthy Bones Week. Judyta's fabulous menu for this luncheon features the best of local produce.

At this luncheon you'll also have the opportunity to hear from Melbourne University bone health researcher, Dr. Sandra Iuliano-Burns PhD, gain dairy industry insights from Mandy Pacitti of Misty Brae Farm and learn bone-building recipes from Judyta Slupnicki.

When: Thursday 4 August 2011

Time: 12 noon - 2 pm 

Where: Phore Seasons Restaurant, 114 Semaphore Road, Semaphore SA.

Cost: $60 per head

To register, visit: Healthy Bones Luncheon

 


  

Gossip Box

The Secret's Out!

www.gossipbox.com.au

 

Are you sick of those 'gift hamper' companies that give you more tissue and cellophane with the same old products?

Then Gossip Box is for you!

Gossip Box is an online gift box business which specialises in using only South Australian products, as we choose to support our local businesses. We promise you a stylish gift box 'chock full' of yummy SA-made products. No more wicker-style baskets half-filled with stuffing!

Check out our range at: www.gossipbox.com.au.

As our boxes are crammed full, they travel exceptionally well, so should you need to send gifts interstate, they are an ideal choice. Also,, the fact that they don't require refrigeration means they can be ordered in bulk for you to have on hand in your office, ready to be delivered as required.

So next time you need to send a gift, let us help you send one you'll be remembered for!

Gossip Box - The Secret's Out!

Phone orders welcome on (08) 8250 4940


  

Mens Group Wisdom

First Tuesday of Every Month

 

Do you find yourself in constant relationship breakdowns?

How do you relate with your children?

Are you tired of being bullied?

Is your work your way to hide your pain?

What are the patterns holding you back?

Our goal is to support you to understand the past and this rapidly changing world we all live in.

Tuesday 2 August 2011

6.30 pm -  8.30 pm

Suite 1, 67 King William Road, Unley SA 5061

Cover charge $7 including light refreshments

Register by 29 July 2011 by emailing: mgw@sharonneal.com.au

Enquiries to Ivan 0414 424 514 or Darren 0417 828 923

Proudly supported by Big Feat Coaching


  

Reading this ad? Then why not place yours here. Do you have a product, service, workshop or special offer that you'd like to let hundreds of entrepreneurs, SOHO business owners, busy professionals and business executives know about? To find out more about advertising in this e-zine and to reserve your spot for next month, e-mail Tania your details today at tania@blueskycoaching.com.au and include 'e-zine ad' in the subject line. As a subscriber to this e-zine, you can receive f.ree advertising, based on availability, if you submit your advertising copy to me by the 20th day of the month.


Advertising Disclaimer: Blue Sky Coaching does not endorse or represent the accuracy or reliability of any of the advertisements included above or the quality of goods, services or information obtained by you in connection with engaging the services of or purchasing goods from the above suppliers.


Copyright © 2011 Blue Sky Coaching. ABN 75 739 189 875.