Way back when I started in business, I figured that if I was taking in money and only spending the money I had then I was in a profit situation, right? After all, my accountant seemed happy. Then accounting software took the world by storm and bookkeeping got easier. At about that time I started working with McDonalds franchisees. Wow, these guys were really smart! They knew how to read a Profit & Loss (P&L) report; they drilled down into […]

Increasing your Average Transaction Value (ATV) is the quickest and easiest way for you to increase your turnover. Boost your bottom line by increasing each customer’s spend with each purchase. If upselling is done correctly, it can be seen as a way to surprise and delight your customer. It can be seen as offering excellent customer service. But are your staff capable of upselling? Are they scared to upsell? Confused on what to upsell? Or, simply not trained to upsell? […]

Before the global financial crisis, getting a loan was pretty easy. There was some documentation, but really all you had to do was give your accountant-prepared financials to the bank and the loan was approved. As I said, that was before the GFC. Sometime in mid-2009, I found myself requiring an overdraft, so off to the bank I went to ask for a loan. And that was when the fun started. There were all these questions to answer and profitability […]