One Sherpa » profit

When can more sales actually damage my business?

Andee Sellman — Tue, 24 Nov 2009 00:00:27 +0000

Have you ever heard the term ‘profitless prosperity’? Andee discusses this today and looks at why when some businesses grow their sales rapidly they can end up worse off and not better off as you might expect. The Vlog series comes from One Sherpa an online global membership community dedicated to helping small business owners [...]

Do you feel like a PUSHMI-PULLYU

Andee Sellman — Tue, 16 Jun 2009 01:17:41 +0000

Posted in Cashflow

In the famous stories of Doctor Dolittle there was a strange animal called a PUSHMI-PULLYU. They had no tail but a head at each end and were very difficult to catch or sneak up on. Made me think about how profit and cash flow push and pull against each other in a business. One month [...]

Banish One Step Thinking – The key to better understanding (Part 3)

Andee Sellman — Thu, 23 Apr 2009 00:41:57 +0000

Posted in business finance

This series is about discussing how one step thinking can cause incorrect profits to be reported in a business. I want to deal with areas where incorrect recording of purchases can cause incorrect profit to be reported in a business. 1. Beating the Tax Man There is a well known pastime by most business owners [...]

Banish One Step Thinking – The key to better understanding (Part 2)

Andee Sellman — Sun, 19 Apr 2009 23:19:40 +0000

Posted in business finance

In the last post I mentioned that the learning was to make sure that you use the same process for sales and purchases in your books. In this post we’re going to look deeper into making sure that items are matched correctly in your profit and loss account. Many people have turned their books of [...]

Banish One Step Thinking – The key to better understanding (Part 1)

Andee Sellman — Tue, 14 Apr 2009 11:57:10 +0000

Posted in Management

What would it be like for you if you only had one leg? How would walking work for you? Probably more like a hop I suspect!! This is how many people think about the money side of their business. They never think about the ‘other side’ of what they’re doing. Cause and effect never enter [...]

The Jekyll and Hyde of the Business Owner

Andee Sellman — Thu, 02 Apr 2009 05:49:53 +0000

Posted in Management

You know that there’s a little bit of Jekyll and Hyde in everyone of us who are business owners. May be you don’t believe me but think about this example. When you’re about to lodge your tax return how high would you like your profit to be? When you want to value your business to [...]

Where Do I Report My Drawings To Ensure I Get Paid By My Customers?

Andee Sellman — Fri, 27 Feb 2009 01:00:43 +0000

Posted in Management

As a business owner, where do I report my drawings to make sure that I get paid by my customers? Many business owners think that their share of the business is drawings they can take out as and when they need them. Unfortunately this does not take into account that this represents two things; 1. [...]