The boring sh!t in business Podcast with Amy Bajada

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

EPISODE 115 : 3 stages you need to go through with your cashflow to keep it in good shape

It’s no secret that cashflow is the fuel that keeps your business running. But it’s not enough to just leave it in the hands of the gods and hope that it all flows the way you need it to.
Keeping your cashflow in good shape takes work … and a lot of it. Once you have it in good shape, you can take comfort knowing that you will be able to pay your bills on time, spend less time worrying day to day, and know you have money available to grow your business.
So in the spirit of my Small Business Cashflow Course commencing again in February, I wanted to share with you the 3 stages you need to go through with your cashflow to keep it in good shape. Take a listen … A x
Key stages to go through with your cashflow;
Stage 1 : The Uncomfortable Confrontation Stage [1:49]
Stage 2 : The Honest Review Stage [7:36]
Stage 3 : The Regular Connection Stage [14:32]
Link to my upcoming Small Business Cashflow Course as discussed throughout the episode.  www.amybajada.com.au/sbcc
 

EPISODE 114 : Brigid Koenig CEO Sammy D Foundation

I couldn’t have picked a more perfect guest to be my first guest for 2023 … Brigid Koenig …
Brigid is the CEO of the Sammy D Foundation, she is a recent recipient of the South Australia’s young achievers award for the 40 Under 40 and an amazing mumma to 2 beautiful young ladies that are watching on as their mum shows them the path to having it all. And a beautiful friend of mine. I’m so excited to finally get to share her with you all.
Take a listen as we talk about everything from landing the role of CEO, juggling motherhood and whilst she ain’t the finance manager … numbers are important to understanding the story they tell. A x
Key points from the episode ..
The pivotal moment that moved Brigid from corporate roles to not for profit (profit for purpose) roles. [2:41]
Just how "Part time" and "CEO" can work in tandem. [8:03]
The positive impact having a "flexible" work environment can have and how it's doesn't just have to be about the school run. [10:25]
How the Sammy D Foundation came about and the positive impact they are having in the world. [13:40]
What it really takes to be a working mum and how balance is so important. [17:56]
And how Brigid has changed the way she looks at numbers to have a positive impact on her role and the organisation. [23:11]
If you'd like to learn more about the work that the Sammy D Foundation are doing, simply head to www.sammydfoundation.org.au
 

EPISODE 113 : 4 tips to maintaining a healthy cashflow

One of the biggest misconceptions I’ve found when it comes to talking about cashflow with business owners, is the idea that cashflow is all about income.
The truth of the matter is, cashflow is really about having the right amount of cash in the right places at the right time … every time.
So whilst it is about income, it is also about expenses AND more so whether they align at the right time to facilitate the movement as it’s required. You get this right, then you have a very healthy cashflow my friend.
Broad as that may be, here are 4 specific tips to creating and maintaining a healthy cashflow for your business … grab a pen because I have a 5th one at the end of the episode which is truly transformative that you’re gonna want to know about … Take a listen. A x
Key episode markers;
Tip 1 : Get visibility over your cash movements [3:47]
Tip 2 : Continuously review your expense [7:32]
Tip 3 : Control your payment terms [9:49]
Tip 4 : Keep an eye on your liabilities [11:17]
Bonus tip ... [12:47]
Links mentioned throughout;
Small Business Cashflow Course (commencing February 2023) www.amybajada.com.au/sbcc
Set up a discovery call www.amybajada.com.au/discovery
Join my community www.amybajada.com.au/signup

EPISODE 112 : Are you ready for 2023? I wasn’t at first, but ...

Here we are, day …. I don’t actually know, into 2023 and I feel like a have a hangover. My original topic that I’d planned for my first episode back was literally all about “Are you ready for 2023” .. Only to find myself not so ready. Is that a bad thing? Should I not be sharing that?
There was no big bang for me as the year started, no new year fresh feeling nor that immediate desire to get back behind my keyboard … 2022 was a tough year for so many reasons in my world, so as I find myself several days into the new year, I think I was confusing the overwhelming desire to leave 2022 behind with being ready for the speed at which 2023 has come at me.
But it’s forced me to question what 2023 will actually look like and how I will get myself ready for it … take a listen. A x
Relevant links as mentioned throughout the episode ... 
Join my community 👉🏻 www.amybajada.com.au/signup
Register for my Small Business Cashflow Course back February 2023 www.amybajada.com.au/sbcc

EPISODE 111 : What I learned in 2022

When I think back to how I felt when 2021 finally ended, there was hope, relief and a sense of trepidation for the unknown that I’d never felt before. What was 2022 going to be like on the back of the mess that was left in the wake of COVID.
What did that mean for small business, for business in general … for my business? But even bigger than that … what did that mean for life in general .. After what could only be described as somewhat of a shit show … I remained hopeful.
Enter, 2022 … what a year! For what it’s worth … here’s what I learned … here is my take on it. A x
Episode highlights : 
The questions business owners wanted answers to in 2022.
The lack of action many have taken to financially safeguard their businesses.
How finances still don't feature as a priority to most business owners, making me wonder whether businesses have ignored the warning signs of the last couple of years.
The obsession coaches have developed with promoting their own revenue results rather than prioritising those of the programs they offer.
The danger of comparison between businesses and falsity of social media having a huge impact here.
Government future spending and how it's funding programmed us to fail and pay for it going forward.
A lot about myself and 2023.
If you'd like to develop a financial strategy for your business in 2023, lets chat www.amybajada.com.au/discoverycall

EPISODE 110 : Techniques that have helped me be more decisive and get shit done

There is something freeing about the stroke of midnight on new years eve that I love. It almost feels like a right of passage to start again and use the fresh start to do it all better next time. It comes with a promise of hope and freedom that as a business owner, makes me feel empowered and ready in a way.
This year has felt hard, and so I’m really looking forward to this moment. And whilst I know it’s only another day … there is something about it.
So how can we use this moment and change in year to get more decisive in our business to get out of our own way, get on with it and go into 2023 with the right tools to make it count? Keep listening … A x
Key techniques listed throughout the episode;
Get feedback [3:16]
Be open to change [4:47]
Stress test or scenario test your product/service or program [6:12]
S.M.A.R.T. Goals [9:53]
Don't be afraid to make mistakes [11:24]
Understand why you are hesitate [12:13]
Hear more about my new group coaching program coming in 2023 [7:38]
If you'd like to join the waitlist, please email amy@amybajada.com