6 Tips to Help Your Startup Business Succeed

By David Officen, proCFO If this is your first year as the owner of your own business (startup), there are 2 things you need to know. The first is that most new businesses in Australia eventually fail, about 95% according to a recent study from BlueChilli. The second is that you don’t have to be one of them. Why…Read More→

4 Smart Strategies to Generate and Share Positive Customer Reviews

By David Officen, proCFO If you own a business, you probably like it when a customer posts a good review online, but you might not think it’s all that important. That’s especially true if you get most of your business through referrals—after all, referrals don’t care about reviews, right? Wrong—they might not care how many positive…Read More→

Courage and a Virtual CFO saved this plumbing products business from ruin

By David Officen, proCFO Getting the pricing right on all the products and lines of your business can be quite a challenge. Especially when the economic climate isn’t great. It requires reading the market, negotiating with customers and responding to changes in raw materials prices. But above all it requires courage! proCFO recently completed an…Read More→

How Managers Demonstrate Understanding of Their Workplace Culture

By David Officen, proCFO How is your workplace’ culture? When was the last time you looked forward to going to work? This is something that many of us struggle with at some point. For instance, there could be a disconnect between the culture with which we identified when first hired and the culture of the current…Read More→

What Is Invoice Financing, and Is It Right for Your Business?

By David Officen, proCFO Let’s talk about Invoice Financing. One of the biggest challenges for small and medium-size businesses, especially those which are just starting out, is cash flow.  All businesses need cash to pay their employees and suppliers, as well as to put back into the business to finance growth.  Unfortunately, customers don’t always…Read More→

How to Keep Your Company’s Culture as it Grows

Crafting your company’s culture is an important step when you move from a company of one entrepreneur to a company of 5-10 employees. It makes another shift as your company enters its growth phase, which is something many entrepreneurs don’t consider until it’s too late. Your culture is largely guided by the people who work…Read More→

7 Ways to Improve Cash Flow for Your Business

Your company’s growth and future success hinge upon your daily cash flow. The SME Administration cites “inadequate cash reserves” as a primary reason why startups fail. Fortunately, there is a variety of measures that business owners can take to improve cash flow. Below is a look at the importance of having cash reserves on hand…Read More→

How to collect those troublesome overdue debts

If there is one thing that strangles business cash flow it is well overdue debts.  No one likes to deal with problem debtors but with a few basic strategies and prioritising the collection activity, you can increase your cash collections and keep your accounts receivable under control.  These tips are for any unpaid debt that…Read More→

9 Reasons Why Bookkeeping is Important to Any Business

While bookkeeping may not be your favorite thing when it comes to business matters, it is crucial to maintain. Here are nine reasons why bookkeeping is important to any business. 1. Tax Time Annual taxes are a real pain to do or even have done. You must have all of your records that includes profit and…Read More→

Why a Virtual CFO is a Great Choice for Your Small Business

A company’s Chief Financial Officer (CFO) handles everything related to the business’s finances such as overseeing cost benefit analysis and securing new funding.  While a CFO serves a vital role in a company by providing financial management, it can be difficult for small to medium-sized businesses to afford a full-time in-house CFO.  These businesses can…Read More→