Friday, July 3, 2015

Happy New Financial Year

At my end of the globe, we've just had Territory Day, the 1 July anniversary of the Northern Territory (Australia) getting self-government in 1978. 

All the fireworks have stopped, the dogs, cats and other pets have settled down again, and now it's time to think about the new year.

Australia's Fiscal Period runs from 1 July one year until 30 June the next year. It's time to review our business finances (and perhaps our personal finances).

A periodic review for any business is a sound idea. Review what's working, what isn't and what can be done better. How can you squeeze more profit out of your operation?

It could be a good time for a spring clean of your shop or office. Sometimes change of layout provides rejuvenation.

There's a light and electrical fittings shop where I live and every time I walk into it I am astonished at how untidy, dusty and poorly laid out it is. Products in boxes literally lie about on the floor, others are on shelves of display boxes. It is always dusty. How the business makes a profit is anyone's guess.

There is something in your business you can improve. Why not review now to identify it and re-engineer it to rejuvenate your business?


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