With all the negative headlines and the doom and gloom forecasts each day (Wall Street leading the Dow Jones down etc etc) each week I see the value of my portfolio declining – and yes that is depressing.
But I am not going to sell. So what is my survival strategy?
So I am laying in a ditch, in the rain, it’s two o'clock in the morning, I haven't actually been to sleep yet and haven't washed in a couple of days, there are practice mortar rounds being dropped around us, and someone's yelling in my ear "SO WHAT?" I am miserable. The question is a good one though.
A checklist for small business good practice has been developed by CPA Australia. It outlines strategic, financial and operational tasks that all small businesses should undertake throughout the year to avoid any issues with meeting business regulatory requirements at the end of the financial year.
CPA Australia says that if businesses undertake the tasks detailed in the checklist on a regular basis, the end of the financial year should not be a period of undue pressure.
One of the many great learning experiences I had was the time we finally got the courage to invoice a major client for interest on very late payments.
I remember feeling sick about making the call – we valued our client and did not want to do anything to upset them. In a competitive market, surely they would just tell us to get lost and use another supplier.
