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Small businesses can grow in boom times as well as periods of difficulty by working smarter and taking advantage of opportunities. Put these following effective tips into practise to help grow your business.   1. Utilise new technology Modern technology can save you time, improve productivity and reduce your operational costs. Make use of Facebook, Twitter, Google+ and other social media tools to market your business. Dropbox is a cloud-based…  Read more

If you are trying to save money, switching from brand new goods to used items can make a lot of sense. Buying used does not always make sense, but exploring the pre-owned market is one of the best ways to save on many different classes of products. These 5 types of consumer goods are particularly good candidates for the used market. Cars Buying a brand new car rarely makes financial…  Read more

  Definitions of Bookkeeping Terminology Whether you’re a business owner who is just starting out running your small business and you want to know about bookkeeping; or a student who’s researching for an accounting test or assignment; or just someone who is curious about bookkeeping and its terminologies, well, you’re in luck!  ‘Cause this blog is for you!  Here are the Bookkeeping Terminology definitions that you need to know: Accounts…  Read more

You may have heard about the word bookkeeping. And if you know about the importance of bookkeeping to your business- like what we have discussed in our previous Blog, well then you’re amazing! Still for most people, when they think about bookkeeping, the first thing that comes to their mind is the in-house type of bookkeeping, which refers to conducting the bookkeeping services within a company, instead of relying on…  Read more

  In today’s fast-paced, digital world, interacting face to face with clients and prospects may seem passé. In fact, face time is more important than ever. For one, you’ll stand apart from your competitors who only touch base with their customers via email, social media, and virtual conferencing. And by hosting in-person events that attract new leads as well as existing customers, you’ll be able to create trust and strengthen…  Read more

We now look at eight characteristics important to successful businesses. International researchers who have studied many small businesses have found that these characteristics consistently play a part in the success of small companies. The eight characteristics are: Owners leading by Example Having a simple business structure Information sharing among employees Staff are carefully chosen Staff commitment and loyalty A unique product or service A specific Customer focus Prompt follow up…  Read more

“How much should I spend on marketing?” Most small business people ask me this question at some stage. Many small business people find working out how much to spend on marketing a tricky exercise to calculate. Generally there are five ways to work out a marketing budget for the year. Remember that these are marketing budgets, not advertising budgets. Marketing covers everything you do in your business that creates awareness,…  Read more

One of the most important decisions you’ll ever make in business is your choice of business name. A good name can create the perception of integrity, professionalism, or value-for-money. It could be your business’s biggest asset. A poorly chosen name can discourage potential customers by making your business appear farcical, or even offensive. What’s in a name If you haven’t thought of any names yet or the names you’ve come…  Read more

It’s no secret that data loss can be a costly nightmare for a small business, with recent estimates citing the total cost of data breaches exceeding $2.1 trillion by 2019. Unfortunately, cyber attackers increasingly target small businesses because they are less likely to have security protection in place. Accidental loss or loss due to a natural disaster can be just as harmful to a business, with recovery efforts and delays…  Read more

  The success of any business, large or small, depends largely on nurturing an efficient, productive workplace. While improving employee productivity should be always be a priority when the ultimate goal is a sustainable and profitable business, the process is easier said than done. Below are some of the most effective methods of managing a productive, happy workplace while increasing output.   Establish Accountability Productivity depends on every employee understanding…  Read more

Advertising is an essential component of success for any business. Proper advertising ensures more sales, but if you choose the wrong options, it can be a very expensive proposition. Let’s look at five ways you can reduce your business’s advertising expenditure without affecting your results.   Referrals A referral program encourages your current customers to send their friends to your site, and to earn rewards for their efforts. It’s a…  Read more

So many business employees are now telecommuting, that companies around the world are restructuring their management practices to meet the challenges of remote collaboration. Because they tend to be more agile and open to change, small businesses are particularly well positioned to adapt to telecommuting. Increased productivity and happier employees who appreciate the added flexibility are just a few benefits winning over small business owners. But telecommuting also presents some…  Read more

Want to avoid paying more than you should come tax time? Or a frantic last minute search for missing financial records? New business owners have a lot on their plate, and can easily lose track of an approaching tax deadline or financial data needed to submit their return. Organization is key when preparing for tax time. As is taking advantage of the many tools and resources out there to support…  Read more

Domain names play a key role in how visitors to your website identify your business. This is precisely why you should spend sufficient time finding the domain name that best suits your brand. But finding a suitable name for your website is not always as simple as it looks: the name you want is already taken, the catchy four-letter domain is too costly, or you may just lack inspiration. Let’s…  Read more

Local search engine optimization (SEO) is an important part of any online marketing strategy for traditional businesses which service a specific geographical area. Local SEO works in much the same way as normal SEO, although there are some important differences to consider. Taking the time and trouble to optimize your website for local is essential due to the fact that about a fifth of desktop queries and more than half…  Read more

Wondering if you’re doing everything you can to boost revenue and cut costs? Or if your business is actually more profitable this year than it was last? The best way to answer these questions is with a thorough assessment of profitability. That’s where gross and net profit calculations come in. These are two of the most important metrics for measuring your capacity to generate earnings relative to costs and expenses.…  Read more

The key performance indicators (KPIs) for one company will invariably be different from the KPIs of another firm.  What both hypothetical companies share however, is the challenge of selecting which KPIs are best suited for measuring the goals and progress of their particular business model. Indeed, entrepreneurs have a vast array of reports and data sets from which to choose and select from, but that data needs to target those…  Read more

It’s one of those tricky balancing acts most business owners struggle with – how to spend as much time on their business as in their business. An accountability group can help you strategize for future growth and set goals that move your business forward. Most importantly, checking in with other people on a regular basis to report on your progress makes it much more likely you’ll take action and get…  Read more

Without knowing your break-even point, you can’t make informed business decisions. The performance review has become a rite of passage in the business world, yet many managers and employees fail to make the most of the opportunities these important discussions can provide. When used properly, the annual review process can provide managers with real insight into everything from employee perception of the company to ways to make the firm better…  Read more

  The Oasis Difference     The Business Oasis story starts in a small town in Tasmania where my father used to make a living as a Fisherman. Growing up in a household with a seasonal & lumpy income, I have always known the pressure that it can place on your family when you’re not certain how much cash flow you will have this month and you’re not in control of your…  Read more