The boring sh!t in business Podcast with Amy Bajada

EPISODE 125 : Is success really defined by stuff? Let’s get real for a minute

This year marks the 12th year since I started my business. The 12th year of working with some amazing and driven business owners.
But it wasn’t until just recently I was asked a question that stopped me in my tracks … “Are you successful in your business” … A seemingly simple question .. yet for some reason I found myself with more questions than the one I was being asked. It made me pause …
Not because I didn’t know the answer, but more because I was curious as to why they wanted to know. Or even, what prompted them to ask? Was it a perception thing (did I not present as successful enough in their opinion) or was it something more.
So I thought I’d share with you this reflection .. take a listen. A x

EPISODE 124 : 6 things you can do when business is slow

You don’t need me to tell you the importance of sound financial management for the success of your business. However, slow periods can be particularly challenging, and therefore it's important to know how to use this time wisely. And let’s face it, we’ve all experienced slow periods in our businesses, and may be experiencing one right now given the state of the world and it’s economy.
Now whilst it may feel discouraging, it can also be a gift. Slow periods give rise to opportunity, to use the time to refocus your attention, keep relationships going, prioritise what's important, improve your attitude, and set up optimum conditions for success.
Instead of feeling discouraged or worse still, panicking, I thought I’d use this episode to examine things you can be doing when business is slow. Take a listen … A x
Key moments throughout the episode ..
Range of emotions we go through .. you know the ones, Frustration, Worry and Fear [01:50]
Suggestion 1 : Look at what people are paying for at present and learn what your customers value the most about them [03:48]
Suggestion 2 : Build a profile of WHO is purchasing your products or services [05:56]
Suggestion 3 : Check in on your marketing tools [08:56]
Suggestion 4 : Focus in on your financial numbers [10:15]
Suggestion 5 : It's no time to panic [12:16]
Suggestion 6 : Self care is more important than ever during this time [13:17]
Links mentioned throughout the episode ..
Book a discovery call with me www.amybajada.com.au/discoverycall

EPISODE 123 : Borrowing Power - How to maintain it as a business owner

Going into business for yourself is an exciting time there is no doubt about it. We often head into this journey with the drive and motivation to create a life on our terms, that provides flexibility, gives us back time in our lives and hopefully makes us some money along the way.
But on the way to carving out a business to hopefully create the personal life we so crave, one thing is often overlooked until it’s too late and that is what impact does becoming a sole trader or starting a business have on your borrowing power like getting a home loan or refinancing the one you have. It’s a question I often get asked by business owners, so …
let’s chat about what the impact may be, how to be prepared and other things you may need to know. Take a listen … A x
Key moments throughout the episode ..
You'll need at least 2 years trading income or financial results for assessment. [02:45] 
Your 2 years of trading income will be averaged [04:30] 
Still working ... You'll need to consider why income types may matter [06:28] 
It pays to show around and know who is offering what and what requirements are needed. [08:30] 
Why contracts or being a sub contractor may improve your borrowing power [09:38] 
Impacts of minimising your tax on your borrowing power [11:33] 
What documents and supporting information is needed for application [12:34] 
If you are looking for a resource to assist in reporting your financial results, look no further than my Profit & Loss Template for only AUD$27
Or if you'd like more tips and strategies, join me and 1,000 of my closest friends on my email list 

EPISODE 122 : 3 Strategies to improve your business decisions

There are many things about running a business that I find challenging … but hands down, the task of making quick and informed decisions for my business … is by far one of the most challenging tasks I perform DAILY! Some of which are critical to the ultimate success of my business … therefore the stakes are high my friend!!!
Whilst I’m getting better at being more decisive … it’s still not easy. And I know I’m not alone .. so I thought I’d share 3 strategies that I have implemented that have helped me to get more decisive …
So this episode is for those who can relate to this struggle, and those who love a great podcast. Take a listen … A x
Key points made throughout the episode ...
1st Strategy : Set clear goals and prioritise them [02:43]
2nd Strategy : Identify meaningful benchmarks for your goals [08:40]
3rd Strategy : See the plan through [14:33]
Business Courses mentioned ...
If you'd like to hear more about my new Small Business Pricing Course, simply sign up to my mailing list to hear it first www.amybajada.com.au/signup
If you'd like to join the waitlist for my Small Business Cashflow Course, which will be back again in July 2023, head to www.amybajada.com.au/sbcc
To hear how I use Trello for my business, listen to Episode 77 : 3 Ways Trello keeps me organised

EPISODE 121 : How to set up a savings plan for your business

Warren Buffet graced us with the reminder to “not save what is left after spending, but rather spend what is left after saving” .. a quote I no longer have to search up by way of reminder, but rather one that I live by and certainly one that I recommend to all my clients.
Not because I think it’s a cool quote, but because I know how well it works, especially in business. A habit that is hard to get started but one you’ll thank yourself for once you have. And it’s that .. a habit, a very good one I might add, and not just one reserved for your personal life.
Why?
Because business is just as uncertain financially .. therefore this habit emphasises the importance of making savings a priority in the financial plan for your future. Here are some ways you can get started … take a listen. A x 
Key points throughout the episode ..
Where to start with a savings plan : Insert into your business plan [03:20]
Action time! Get onto creating that habit [04:27]
Time to give it more purpose [07:22]
How to further set this plan up for success [08:59]
The final stage!  Resisting temptation to use the money [10:05]
Links mentioned throughout the episode ..
Waitlist for my Small Business Cashflow Course (back in July 2023)

EPISODE 120 : 5 Things you can teach your kids about cash management

We live in a world where consumerism is rampant, and getting caught up in the consistent hype and artificial desires that are created through the plethora of information coming at our kids can be damaging on developing the fundamental relationship they have with money.
Whilst access to “things” is easier than ever before, this may not necessarily be a good thing all the time. As I watch on as my son is constantly influenced on a daily basis for the need to “have” … the constant “no’s” from me don’t bode well for him as he tries to create a life he sees others living … It had me thinking about the balance needed to even this tug-o-war out and how more than ever it has become critical to teach our kids about responsible spending, saving, and budgeting.
So here are five things you can insert into conversations with your kids about managing their cash. Hear them all here.
Key discussion points of the episode;
1st : Live below your means and don't get tempted by income increases (or shiny objects) [04:59]
2nd : Debt isn't a bad thing ... but comes with a warning [08:48]
3rd : Earning money requires effort [11:05]
4th : Having a savings plan is important (Save 50% of what they earn now) [11:58]
5th : It's good to talk about money [13:20]
Links mentioned throughout the episode;
Spriggy Cash Management App www.spriggy.com.au

EPISODE 119 : 3 strategies to optimise cashflow for your e-commerce business

Running an ecommerce business and dealing with products comes with day to day challenges .. managing everything from product development, sources, packaging, logistics, deadlines, freight, geographical challenges to name a few.
However, one of the most crucial aspects of running a successful ecommerce business that’s often overlooked is Cashflow Management. Effective cashflow management can help avoid cash shortages, minimise your borrowing costs, and ensure that your business has the resources, cash resources, it needs to achieve long term success.
Check out these 3 strategies that you can implement now to optimise the cash for your ecommerce business long term. A x
Key moments from the episode..
1st Strategy : Ensure your margin and cost recovery process is solid [04:41]
2nd Strategy : Move that stock [10:38]
3rd Strategy : Setting yourself up to make more deliberate cash decisions with purpose [14:05]
Relevant links as mentioned..
Small Business Cashflow Course www.amybajada.com.au/sbcc

EPISODE 118 : Is your business ready for a recession?

Since mid 2022 we’ve been hit with news, that it’s 20% likely that by 2023 we would be heading into a recession by the end of the year. 53 days into 2023 and the probability of recession has already risen by 6%.
This isn’t the first recession we’ve had and won’t be the last, but for some business owners, it’s likely to be the first they may experience as a business owner. Now, as business owners we’ve been tested in recent times with the Pandemic, but will the recession we’re likely to have, resemble the struggles we had during the Pandemic?
This has prompted me to ask the question … If you’d been able to insure your business against the Pandemic, would you have?
And if so … Are you therefore preparing for the recession having been warned that one is likely? Let’s chat about this … A x
Key points throughout the episode ..
What is a recession [02:45]
How do we get to this point [03:13]
How you can recession proof your business [08:28]
Take care of your cashflow [08:46]
A solid solution to future proof your cashflow [09:42]
Discussion on debt [11:16]
Inventory Management and the role it plays in recession proofing your business [12:07]
Prioritise your customer service with exisiting clients [12:50]
Never stop marketing your business brand [13:29]
The upside ... yes there is one [14:29]
My final thought [15:02]
Relevant links mentioned throughout ...
The Small Business Cashflow Course   www.amybajada.com.au/sbcc
 

EPISODE 117 : Reinvestment of profit for growth

I was once told that the simple path to growth is a willingness to reinvest profits back into a business.
What I wasn’t told was just how much of the profit I need to reinvest back. And perhaps that was the point … just like much of what I do now in my business and the coaching programs I have developed for my clients, understanding just how much to reinvest back into the business by way of profits is really dependant upon the goals of the business owner and of course the greater goals of the business itself.
Let’s examine the premise of reinvesting profit back into business and how it’s an effective way to increase not only the value of the business, but it’s future growth .. Take a listen … A x
Key episode moments ...
Profit reinvestment defined [01:30]
Benefits of profit reinvestment [02:00]
Why would you need to reinvest profits [02:25]
What I’ve learned about profit reinvestment [03:09]
Important metrics to understand about cash investment [03:38]
How to determine just much profit to reinvest [05:04]
Why you should have a cashflow strategy [07:12]
Actionable steps to assist in determining how to generate cash to reinvest [07:47]
The conventional approach to what percentage you should reinvest your profit [14:15]
Important warning on continual cash injections (not reinvestment) [15:15]
Links mentioned throughout
Small Business Cashflow Course www.amybajada.com.au/sbcc

EPISODE 116 : How much cash should I have?

Brigham Young once said .. “A fool can earn money; but it takes a wise man (or woman) to save and dispose of it to their own advantage” …
But the million dollar question that tends to elude even the most seasoned of business owners, is just “how much cash should I have??” I get asked this question all the time .. “how much cash should I have??” I get it … it’s certainly a valid question to ask when you start working with a financial coach … after all cash is the life blood of running a business …
So, after over 20 years experience, of course there is only one response to this question .. take a listen to find out what my response is. A x
Some points of interest throughout the episode ...
Tips on how to better estimate cash levels that may be right for your business [10:07]
Calculations that may assist in getting the right cash for your plans [12:33
An easy answer to this question [14:56]
Relevant links as mentioned throughout the episode ...
www.amybajada.com.au/sbcc