East Partners Blog

The third way to grow your business – Increase your sales conversion rate

The third way to grow your business is to increase your conversion of prospects to sales. This is relevant to all businesses, but particularly relevant to those who prepare proposals and quotes on a regular basis.

The second way to grow your business – Generate more leads

The second way to grow your business is to generate more leads. A lead is someone who has responded to your marketing in some way; they have some level of interest in your product.

The first way to grow your business – Increase customer retention

Statistics show that it’s six times easier and cheaper to make a sale to an existing customer than it is to a new one. Happier customers come back more, spend more money and, most importantly, talk to others. And yet, so many businesses seem focused on getting more customers. Sure, customers […]

Get your 2021 off to a great start

Turning a profit will be high on your list of goals as a business owner. And if you want to generate the best margins, that means keeping an eye on the money that’s going out of the business, as well as what’s coming in. So, how can your accountant help with […]

Welcome to 2021!

What a year 2020 was… none of us saw that coming! We hope you had a well-deserved, relaxing break! While there’s a lot of uncertainty about what 2021 will bring, we can take our 2020 learnings and plan for a better 2021. As a firm, we learned just how agile our […]

Have you got a strategy for a financially stress-free holiday period?

Christmas holiday breaks are a chance to recharge for the year ahead especially after the year we have had. We look forward to warmer weather and finally setting up an out-of-office email for the break. However, for business owners, this time is a stressful without careful cash-flow planning.

Your critical numbers

The Covid-19 crisis has created a “new normal” for businesses. Traditional ways of working are being challenged and we now need to innovate, adapt, re-engineer, and reinvent the way we work.

There are seven ways to grow your business

There are just seven ways to grow your business. The first five grow your sales and the last two reduce your costs.

The seventh cause of poor cashflow – Sales levels are too low

It might sound obvious, but it isn’t to many businesses. If current sales levels don’t support overheads and other cash demands on the business, then your overdraft will just keep increasing. This means that your business in its current state is not viable (unless you have ongoing access to new funds […]

The sixth cause of poor cashflow – Overheads are too high

This isn’t typically a place where you will find a lot of wastage. Our experience is that business owners are very careful about managing their expenses, and the smaller the business is, the truer that statement is. Having said that, as a business grows, so do the layers of hierarchy. Management […]

The fifth cause of poor cashflow – Gross profit margins are too low

Your gross profit margin is what is left from your total sales after variable costs are deducted. For example, if you are a retailer and your sales in a given period are $1,000,000 and the cost of the goods you sell in that period is $650,000, then your gross profit margin […]

The fourth cause of poor cashflow – Your debt or capital structure

Often a reduction in interest charges as well as significant cashflow improvements can be achieved with a regular review of existing debt. A good place to start is to list all bank loans, mortgages, finance company loans, hire purchases, credit card debts, and any other debts (don’t include amounts owed to […]