The boring sh!t in business Podcast with Amy Bajada

EPISODE 153 : Unraveling Business Debt: Exploring Types of Debt and Strategies for Successful Management

Ahh debt … can’t live with it, can’t live without it. Especially when it comes to running a small business.
Understanding and effectively managing business debt is such an important component of a small business journey for growth and success. While the term "debt" may often carry a negative connotation, I always say, it’s not debt that’s the problem, but rather the management of it.
When managed strategically, it can serve as a powerful tool for expanding operations, investing in opportunities, and ultimately moving your business forward. With cash flow focus greater than ever, I wanted to take this opportunity to explore the different types of business debt, discuss how it can be used for growth, and highlight the importance of strict debt management. I’ll even throw in five key strategies that you can implement now to effectively navigate and optimise your business debt.
Take a listen. A x
 
Key moments throughout the episode :
Types of debt available to you and how they can provide support for growth in your business [05:49]
Key consideration for an effective debt management strategy [13:31]
5 Things you can do to build an effective debt management strategy for your business TODAY [16:09]
Here is a resource you may find helpful when managing debt for your business ... it's my Creating Cash mini course www.amybajada.com.au/creatingcash
 

EPISODE 152 : - Strategies for Financial Success during the Silly Season

For small business owners, the holiday season can be a time of celebration and relaxation, but it can also bring about unique financial challenges.
Commonly referred to as the "silly season," the period encompassing Christmas and New Year's can disrupt the regular flow of business operations. Offices close, clients go on leave, and the recovery of debtors can slow down significantly. This can have a substantial impact on a small business's financial stability, making it critical for business owners to be well-prepared.
In this episode, lets discuss and explore the various financial aspects of the silly season and provide key strategies to help navigate this challenging period successfully.
Take a listen. A x
Key moments throughout the episode;
Strategies you can implement now to help cope throughout the silly season [04:18]
How to address those staffing challenges during this time [05:30]
Ways to handle reduced client activity [09:26]
10 Cashflow Management strategies to provide financial stability during this time [13:17]

EPISODE 151 : Why your pricing demands your attention now!

Running a small business is a juggling act at best, where you're continually balancing various responsibilities, from managing the day-to-day operations to keeping a watchful eye on your bottom line.
Whilst all this is going on … I tend to find that often pricing strategies get overlooked, or forgotten all together. Its significance can be extremely underestimated, but the truth is, your pricing strategy is the cornerstone of your small business success.
In this episode, we will delve deep into why it is imperative to focus on your pricing strategy, particularly in the context of the ever-changing landscape of supplier costs, and how to align it with the bigger overarching financial goals of your business.
Take a listen. A x
Key moments throughout the episode ...
What is cost pass through and why it's important to understand [04:58]
How to influence supplier costs on your pricing [06:42]
The aspect grossly underestimated in pricing strategies [08:13]
How inadequate pricing can lead to decreased product quality [11:30]
How to get the competitive edge [14:31]

EPISODE 150 : Mastering Your Profit and Loss: Unleashing the Hidden Insights in Your Business Finances

Whilst I know most of us as business owners have heard the term Profit and Loss, or P&L or even income statement in our time (well at least I hope most of us have) … this conversation is more of a way to reignite the discussion around your P&L, to give it a little more life that perhaps it’s been given now.
You see, this conversation was spawn from the many discussions I have with business owners, who know they have one, know it’s important and all, but aren’t doing enough with it. Knowing what I know about a profit and loss statement, it would be remiss of me to not have this discussion, as I know so many are missing out on the wealth of knowledge that can be found in them.
So in this episode, we’ll explore what a profit and loss statement is, why it is indispensable for you as a small business owners, what critical elements it contains, and what invaluable insights you can derive from it.
Take a listen … A x
 
Key links mentioned throughout the episode
Profit & Loss Template www.amybajada.com.au/pandl
Getting started with Xero Mini Course www.amybajada.com.au/xero
Getting started with Quickbooks Mini Course www.amybajada.com.au/quickbooks

EPISODE 149 : Mastering the Breakeven Point: Your Key to Financial Success in Business

Break-even goes beyond being a mere buzzword in the business world; it stands as a fundamental concept that, when truly comprehended, can profoundly influence your business‘s financial success. And by "financial success," we mean the whole gamut – from profitability and pricing strategies to the lifeblood of your business: cash flow.
The magic of the break-even point lies in its power to transform the way you approach marketing, inventory management, time allocation, and sales strategies.
In essence, it will guide you through the financial maze of running a business, and it deserves more importance and attention than it often receives in the business world.
Ready to get serious about your break even point? … take a listen. A x
Key moments throughout the episode ..
The impact breakeven has on specific elements of your business [03:36]
How to correctly calculate your breakeven point and all it's components [06:45]
Other considerations needed for breakeven analysis [16:22]
Oh and for those interested in developing a robust pricing strategy for your business, be the first to join my waitlist for my new Small Business Pricing Course!  Simply email amy@amybajada.com with the subject line "Pricing Course" and I'll send you some key information about it's launch, along with an amazing deal that you won't want to pass up.

EPISODE 148 : From Shiny Objects to Real Results: Conquering Fear and Finding Business Success

As business owners we often find ourselves embracing, what I call, the shiny objects ... you know the things I'm talking about, product development, product testing, websites, instagram grids, social media, logos ... you know all the things.
Yet when it comes to tackling the hard stuff, the real stuff ... we often find ourselves afraid. Afraid of knowing the real results, the real profits OR losses ... the real reason you may not be making money, or even that your passion, your baby may not be working.
I get the fear is real ... but what are you really afraid of? Let’s chat about this. Take a listen. A x
Ways you can face the fear ...
Join my Small Business Cashflow Course waitlist (back on the 16th October 2023) www.amybajada.com.au/sbcc
Schedule a discovery call to discuss where you want to go with your business www.amybajada.com.au/discovery
Join my email list to have access to resources, support and notice when new resources are developed www.amybajada.com.au/signup
 

EPISODE 147 : From Vague Ambitions to Actionable Plans: Assigning Figures for Better ROI in Business

In the world of business, every financial decision is a high-stakes gamble. Whether you're a seasoned business owner or just starting out, the ability to think realistically about your financial moves can be the difference between thriving and floundering.
Thinking realistically about financial moves in your business is not about being overly cautious or pessimistic. It's about being well-prepared.
As you contemplate your next investment or financial decision, there are critical key factors that demand your attention. Return on Investment, timing of that return, how to budget for these and how adverse you are to the risk associated with these decisions.
Let’s chat about them … take a listen. A x
Key moments throughout the episode ...
What is ROI [02:08]
Understand what type of return you want [05:37]
Setting goals on when you want the return on your investment [09:22]
A great tool to assist in financial decisions [11:12]
What risk are you and your business able to (or even willing to) take on [12:26]
Need a forecasting tool ... why not check out my financial spreadsheet to assist you here www.amybajada.com.au/pandl
If you'd like to examine your business decisions and ROI further, schedule a free discovery call www.amybajada.com.au/discoverycall
Join the waitlist for my Small Business Cashflow Course at www.amybajada.com.au/sbcc
 

EPISODE 146 : What Every Business Owner Needs to Know About Balancing Personal and Business Finances

Being a small business owner is an exhilarating journey filled with passion and dedication. You've built your dream from the ground up, nurtured it, and watched it grow.
However, amidst the hustle and bustle of running your business, it's easy to overlook a critical aspect – managing your personal finances. Many small business owners struggle to understand and balance their business finances, let alone their personal ones.
In this episode, I wanted to explore how you can effectively manage your personal finances as a business owner.
Lets break it down into simple steps and practical advice, making it easier for you to navigate the financial waters of both your business and personal life. Take a listen. A x
Key Takeaways from the episode:
3 Simple ways to set clear boundaries for your personal and business finances [07:52]
Why a personal budget can help with financial management in both areas of your life [09:38]
To learn more about managing cash, join the waitlist for my Small Business Cashflow Course www.amybajada.com.au/sbcc
To discuss how you can establish a financial management plan, set up a free discovery call www.amybajada.com.au/discoverycall
 

EPISODE 145 : From Setbacks to Success: Embracing Failure as a Path to Long-Term Business Growth

In the world of business, success and failure are two sides of the same coin. While success is undoubtedly what every business owner strives for, failure is often feared and avoided at all costs.
However, it's time for a shift in this perspective. As business owners, we need to embrace failure as a stepping stone to progress. Failure isn't the end; rather, it's a vital part of the journey toward success.
In this episode, I wanted to take a moment to discuss the reasons why failure should be embraced in business and how it can pave the way for growth, innovation, and long-term success.
As custodians of businesses great and small, we find ourselves at a crossroads: it is time to not only accept but to warmly embrace failure as a catalyst, a stepping stone, and an agent of transformation in our pursuit of progress. Take a listen. A x
Key moments throughout this episode
Time to reframe the perspective on failure [04:06]
The essence of learning from failure [05:48]
Adaptability is your lifeline during failure [06:23]
Development of problem solving skills [07:31]
The primary concerns fearing failure [08:00]
Financial risks causing a fear of failure [08:27]
Branding risks causing a fear of failure [09:31]
Failure can foster a culture of innovation and resilience [11:08]
Why failure was pivotal in Apple's success [13:46]
Ways we can work together;
Book a free discovery call at www.amybajada.com.au/discoverycall
Join my Small Business Cashflow Course www.amybajada.com.au/sbcc
 

EPISODE 144 : Balancing Personal Finances and Reinvestment: Strategies for Small Business Owners

In this new emerging landscape, the pursuit of personal aspirations has given rise to a surge in small businesses and side hustles. Whether driven by passion, necessity, or a combination of both, individuals are increasingly venturing into these realms.
However, the path to success is a delicate dance between reinvesting profits back into the business and maintaining one's personal financial stability. In this episode I wanted to explore the intricate balance needed between these two crucial concepts and explores strategies on how to find the right balance.
If you run a side hustle or a small business, you’re gonna want to listen to this one. A x
Key moments throughout the episode..
What is Reinvestment for small business [03:01]
Understanding Personal Financial Stability [09:28]
Finding the right balance for reinvestment into business and personal savings account [10:04]
Set clear financial goals [10:10]
The concept of Gradual Reinvestment [10:49]
Establish an Emergency Funds [11:18]
Budgeting and measurement [11:49]
Diversify your revenue streams [12:28]
To book a discovery call with me, head to www.amybajada.com.au/discoverycall