Blog
We previously explored this topic ‘Handing over the Reins- Letting Go!
We highlighted problems that sometimes surfaced with this ‘changing of the guard '; handing over the baton was very challenging for some.
That raised the question, ‘Why is that so? ’
We identified contributing factors such as;
-
Feeling a loss of identity, importance, self-worth
-
Control issues – no longer making decisions or contributing
-
Fear of financial insecurity
-
No Post –retirement planning. Fear of irrelevance.
-
Distrust in the next generation.
Let’s look at a Case Study:
Bill, the founding member of a Panel Beating business, is struggling, refusing to let go of the reins. Despite an existing Succession Plan, he is adamant that he should continue and remain head of the operation.
Good Governance – Why Every Business Needs It. You may recall we explored this topic in November last year.
And here we are in 2026, in the headlines, stories of governance, regrettably, tales of poor governance. Examples highlighted failures in systems, bad conduct, and downright dishonesty by some corporate players.
But poor governance can and does happen in organisations, big and small and in all spheres of business sectors, private, public and non-profit. Indiscretions are not isolated incidents, whether by deceit, default or ignorance.
-
Examples. In the high-flying gambling entertainment industry, it was reported that a key leader failed to report suspicious conduct to the Board. Corporate governance failures emerged as the problem, with vigilance lacking.
-
The headlines. In the current investigation of an established accounting firm, it is reported to have ‘bad practice and poor oversight’ when dealing with a whistleblower’s concern. This suggests that some officials failed in their duty.
What's the answer? How to avoid these mistakes?
For Leaders, Board members and Committees, core responsibilities include
With the start of a new financial year, it’s timely to consider planning for the now and future for the success of your Business.
The key to success is sound business practices, including formal decision-making processes and disciplined family management. These need to stay relevant and relatable to both family and Business interests, to protect, preserve and provide financial stability.
People, circumstances, economic conditions and the Business landscape continually change, and we are operating in uncertain times. This is where taking active steps to shape your Business pathway and direction is critical.
A common failure of Family Business is decision-making inaction. Delaying, putting off crucial decisions that, in the longer term, have consequences, often costly. Outcomes happen by default rather than by design.
Is that your Business? Yes, read on; there are ways to take your Business forward.
When the topic of branding comes up, you may think it is something only for the ‘big’ players in Business.
But that is a misconception. Branding, its benefits and scope have no boundaries.
Small Businesses can compete successfully by understanding the basic principles, what it’s all about and adopting some simple strategies. Make it work for you and your Business!
Simply put, branding is how a Business shapes its reputation and identity in the minds of its customers. It’s an active process of creating a unique name and image that is easy to recognise as different from others. It combines core values, visual elements, and customer experiences so that consumers can easily recognise and trust what it offers.
In a nutshell;
-
Identity
-
Perception
-
Consistency
-
Trust
-
Customer experience
For small Businesses,
Top Tip: accelerate your accounts receivable and combine it with a quarterly cashflow forecast to monitor performance.
Simply put, get paid faster by invoicing sooner, shortening payment terms and tracking incoming money to help it flow and stop it from getting trapped.
Try these proven tactics:
-
Tighten creditors' payment terms. Ideally, get upfront payment or timely 7-day or 14-day terms. Aim to avoid 30-day credit.
-
Generate Invoices asap. Speed up the process and send invoices once the job is finished or the goods are shipped or delivered.
-
Stretch your accounts payable. Hold onto your cash as long as possible; pay on the due date, not before.
-
Audit overheads. Look to trim if possible. Monitor utilities, efficiency and usage; check regular expenses, stationery supplies, and motor vehicle expenses.
Your Accounting Partner
Your Management Accounting Partner
Your Expansion Engineer
Your Special Projects Partner