East Partners Blog

The first cause of poor cashflow – Your cash lockup

There’s a massive difference between profit and cashflow. Profit increases when you create an invoice for work you’ve done or goods you’ve sold; cash increases when you bank the money.

Step 10 of Building a Better Business

Keeping your ‘well of happiness’ full will help you build a better business. This should be something you focus on all the time. Just as the flight attendants tell you to put the oxygen mask on yourself before helping others, it’s the same in business – you need to look after […]

Step 9 of Building a Better Business

Monitor your progress to reach your targets When you’re driving, there are certain things on your dashboard that you keep an eye on – your speed, your fuel level, and the engine’s temperature. It should be the same in your business. You should have a business dashboard with 3-5 key things […]

Step 8 of Building a Better Business

Build strong networks to generate referrals. Referrals are the easiest way to generate new business, and building strong networks is a great way to generate referrals. Networking and referrals are cost effective ways to grow, as the return on investment can be huge. Think about the types of networking you can […]

Step 7 of Building a Better Business

Get someone independent to hold you to account. Have you ever set a New Year’s resolution and then reset the same one again the following year? So, how can we increase our chances of successfully achieving our goals? Accountability. The most fool proof way of ensuring you complete the actions you’ve […]

Step 6 of Building a Better Business

Being a better leader and building a strong workplace culture is crucial to having a better business. Have you ever asked yourself if your workplace is toxic? With the average person spending more than 40,000 hours of their life at work, a workplace should be an enjoyable place to be. We […]

Step 5 of Building a Better Business

Once you have a clear Business Plan, the next step is to get your business structure right. Your ideal structure will allow your business to become more efficient and achieve economies of scale. This will mean that your bottom line returns will increase at a greater rate than your revenue. Your […]

Step 4 of Building a Better Business

You know what you want from your business; it’s time to plan how to get it. Start by deciding what you want personally from your business. For example, if you need $100,000 p.a. to cover your living costs and a family holiday, and your overheads are $100,000, then your gross profit […]

Step 3 of Building a Better Business

Defining exactly where you are now – warts and all – is crucial to building a better business. This step is often overlooked, but you must know your starting point to create the best route to success. It sounds so obvious, but many business owners plan for the future without fully understanding where […]

Step 2 of Building a Better Business

It’s amazing what we, as humans, don’t even know that we don’t know. Being open to change and new learning is a crucial step to building a better business. New learning opportunities are everywhere, and in this digital world, there’s simply no excuse to avoid new learning. Consider how many new […]

Step 1 of Building a Better Business

What does a better business look like to you? Before you can start building a better business, you need to define success. Be crystal clear on exactly what you want from your business. Remember, your business is there to serve you, not the other way around. Life is simply too short […]

JobKeeper Scheme now until March 2021 with more employees now eligible

JobKeeper Extended Until March 2021 The government has announced further changes to the JobKeeper payment scheme, which will see it continue until March 2021.The current system will remain unchanged until 27 September 2020 as planned, providing $1,500 per fortnight for employees and eligible business participants.