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Identify your break-even point

Posted by XO Accounting on Oct 14, 2019 9:33:00 AM

Without knowing your break-even point, you can’t make informed business decisions.

To cover the costs of your business you need to sell enough goods or services to reach your break-even point. Knowing where that point is, and how long it will take you to reach it, can be fundamental to your success. This especially true if you’re thinking about starting or buying a business.

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Topics: buying a business, financial, break even

Wealth the Warren Buffett way – a short guide to value investing

Posted by XO Accounting on Oct 7, 2019 9:27:00 AM

 

Value investing is the stock selection strategy famously used by business magnate and third wealthiest person in the world, Warren Buffett, whose total net worth exceeds $82.2 billion.

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Topics: income, investment, value

Is technology making you less efficient?

Posted by XO Accounting on Sep 30, 2019 8:56:00 AM

If you feel overwhelmed by the sheer volume of technological gadgets out there, never mind apps and other digital “solutions”, you’re not alone. Technology sprawl and the rabbit hole of more and more information, available all the time, is making productivity—and healthy downtime—a real challenge for many of us.

Although we may be quicker at completing redundant tasks, more time is wasted managing all our different apps and technologies—and more of us live in a near constant state of distraction.

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Topics: Technology, management, efficiency

Whistle While You Work

Posted by XO Accounting on Sep 23, 2019 8:57:00 AM

It is fairly agreed upon that having fun in the workplace is something that should be encouraged. Not only does it increases satisfaction and result in a turnover decrease, but your employees want to come to work. Therefore, creating a happy and productive work environment for both you and your employees.

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Topics: Employment, management

Worthwhile Expenses for Entrepreneurs

Posted by XO Accounting on Sep 16, 2019 8:53:00 AM

Being an entrepreneur is often about getting the most value out of your resources. That means spending only on the necessities, and nothing more. Unfortunately, things you consider to be a waste of your capital may actually be what your start-up needs to survive. Some of them are expensive, especially for a new company, but they're worthwhile.

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Topics: expenses, entrepreneur

Paying down debt

Posted by XO Accounting on Sep 9, 2019 8:32:00 AM

Debt can be a crippling problem for small businesses wanting to grow or just break-even during difficult times. By reducing debt you’ll improve the value of your business, its financial situation, and its ability to continue operating into the future.

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Topics: small business accounting, debt, cash flow

Combat interest rate rises in three easy ways

Posted by XO Accounting on Sep 2, 2019 11:08:00 AM

Rising interest on debt can be a curse when running a small business. However, there are some quick and easy policies you can start using to combat interest rate rises.

Individually, small steps can add some value to a business, but when combined they can make significant differences. Think of your business like a car in development. Improved aerodynamics, fuel injection and weight loss might separately increase fuel economy, but used together they could make the car a market-leader.

Here are three easy tips you can implement in your business to combat the effect that rising interest might have on your bottom line.

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Topics: financial, management, interest

Borrowing Money? Not All Interest Is Deductible For Taxes

Posted by XO Accounting on Aug 26, 2019 9:09:00 AM

If you’ve borrowed money from anyone other than a good friend or a family member, there’s a good chance you’re paying him or her interest. You may even be paying your friend or family member interest, depending on how long you’re borrowing for and how much they loaned you. That interest that you’re paying may or may not be deductible: a lot depends on what you’re using the money for. Let’s take a closer look at what makes the interest on the money you’ve borrowed eligible for a deduction.

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Topics: financial, small business accounting, planning

How a credit score helps you get paid

Posted by XO Accounting on Aug 19, 2019 10:13:00 AM

In Australia, the number of insolvencies continues to rise every year. The causes most frequently cited include issues with cash flow, poor strategic management and trading loss. For each of these, there would have been warning signs for the business in the lead up to the failure. That is, if you knew where to look and utilise a credit score.

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Topics: financial, value, credit score

4 ways to make your business easier to sell

Posted by XO Accounting on Aug 12, 2019 9:09:00 AM

Perhaps you’d always planned to build a thriving business to eventually sell for a tidy sum – or maybe for unexpected personal reasons it’s best to let your company go sooner rather than later.

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Topics: sell your business, management, planning

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