Plenty of tips from local businesswomen

Problems with cash flow, time management and changing from a personal brand to a more saleable one were among the issues discussed at a workshop at the Hotel Crown in Victor Harbor on March 25.

Tables of four to five women were challenged to find “advice you’d give to a friend” on three key issues that had been raised by women in business locally and throughout the network.

Founder Carolyn Jeffrey said the workshop demonstrated the true value of the network as women were able to share their personal experiences (both good and bad) to come up with tips on three issues that cause much stress for business owners and managers.

Written records were created of the tips and these can be found HERE.

Some of the tips for better time management included delegating, biting off the difficult tasks first and allocating more time than you need for tasks.

The cash flow situation raised some varying suggestions since different businesses face different challenges when it comes to cashflow, eg some are dealing with stock control while others are service providers only.

Having a second bank account to store GST funds was a popular suggestion, as was being disciplined when it comes to debtors.  There was consensus that it’s important to keep monitoring your cashflow and accounts even if you get an accountant or bookkeeper to undertake the work.

The most challenging issue was discussing about how to move away from a personal brand when a business has been created by an individual and that individual provides all the services.

Name and marketing strategy changes taking on staff or contractors and preparing a succession plan were among the suggestions.

The next Victor Harbor dinner will focus on overcoming personal barriers to success with Cathy Domoney, a Mount Compass life coach to speak.  The lunch will be held at the Hotel Crown on Monday, May 13.

A lunch on Monday, April 29 will focus on book and story publishing with Rommie Corso of Hardshell Publishing as the guest speaker.  The lunch will also be open to those not in business who may have an interest in publishing their own story.