Do you run your business based on passion? Do you believe that, however tough things get, you can always pull through with hard work and dedication?
Rhondalynn Korolak, author of On The Shoulders of Giants and Financial Foreplay, says that’s the problem with many company owners. These are the people that hit cash flow problems, the killer symptom for most failed small businesses.
The solution, says Rhondalynn, is to learn to understand your balance sheet. The figures don’t lie. Often how you run your business is influenced by your bravado. Other times it could be driven by what else is going on in your life. Understanding the financials becomes the roadmap that will keeps your business on track, no matter what happens.
So, if you want to sabotage your business, it’s easy — ignore the balance sheet.
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Will jobless numbers push the RBA to cut sooner?
Will the RBA curt rates on the back of bad job numbers? NAB’s Alex Stanley talks through the Aussie employment numbers, plus Fed bank decisions and liquidity concerns in the short term money markets.
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Jobs, stimulus and bond yields
Yields are moving higher for bonds in the US and Europe. NAB’s Gavin Friend looks at why bonds are being sold off and whether it will last. Is it a sign of optimism that economic conditions will improve?
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Oil jumps, shares fall, inflation forecasts worsen
It’s a risk-off session, with oil sharply higher today and NAB’s Rodrigo Catril says there are clear signs it hasn’t peaked yet. We also look at NAB’s revised expectations for the RBA’s rate moves this year.
