“Sometimes the hardest thing in business is not finding customers; it is being paid for the product or service you provide. As Australia’s economy slows, the average age of accounts receivable is stretching many smaller and emerging businesses to almost breaking point. Before we examine ideas for ensuring fast payment of invoices, it is important to acknowledge that the best defence against unpaid invoices is not giving credit in the first place.” Read on

Mark Neely Australian Anthill

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“Regardless of how exciting your project is and how ‘cutting edge’ your technology may be, it’s still important to pay attention to the most fundamental principle of business – making sure you get paid. The risk of being dudded is reduced by following a few simple rules. It’s surprising how often they’re bypassed or forgotten.” Read on

Mark Toohey Australian Anthill

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“All businesses are about money – how much you have, where it comes from and where it’s going. One of the most important tools to help you succeed is a good bookkeeping system. A good system makes it easier to analyse your business finances.” Read on

State of Victoria, Australia. Business Victoria

Tags: Bookkeeping

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“Spotting signs of business failure is important – not just for your own business but also in your suppliers. If you’re in manufacturing, the loss of a key component, or as a retailer, the collapse of a wholesaler, presents real business risk.” Read on

Julianne Dowling Small Business, The Sydney Morning Herald

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“Partnerships can turn out to be a blessing or a curse. For every thriving partnership featured in Entrepreneur, there are thousands that end up stagnant, dissolving, dysfunctional or worse – in court. More often than not, performing basic due diligence can keep you from ending up in bad partnerships. So, have you done your homework? Here is a list of the top ten worst business partners for your start-up along with some tips to help you avoid this cast of characters.” Read on

Scott Gerber Entrepreneur.com

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“There are those products and services which we have to buy and then there are others which are nice to have. If you want to drive high growth, you need to offer something which customers have to have, where the purchase cannot be delayed or avoided. Nice situation to be in, however most of us aren’t that lucky, but what if you could ride on the back of such an item?” Read on

Tom McKaskill SmartCompany

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“Many businesses fail despite having customers lined up around the block. The reason? They grow too fast. If you have a long cycle time between order and payment, chances are you’re used to cashflow crises. It’s time to reduce your cycle time.” Read on 

Roger La Salle Australian Anthill

Tags: Cash flow

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“One of the biggest challenges for creative businesses, especially fast-growing enterprises, is the management of cash flow. When businesses fail, it’s frequently because of a cash flow crisis rather than lack of profitability… An unprofitable business will inevitably run short of cash but even profitable businesses can face a cash crisis if cashflow isn’t managed carefully.” Read on

David Parrish T-Shirts and Suits 

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“Any improvements you make to your business processes will relate directly to your clientele numbers. Which of course relate directly to your balance sheet. It’s simple: being more organised equals more profit. Conversely, a lack of organisation costs your business money.” Read on 

Roz Howland Flying Solo

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“Those who think of themselves as entrepreneurs need to confront two of the greatest reasons for small business failure. The first is their tightwad ways; the second, that their accountants too often are hopeless at business.” Read on 

Peter Switzer The Australian

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ADU is committed to protecting the information we collect and use by ensuring compliance with our obligations under the Information Privacy Act 2000. 

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For more information or if you have any concerns please contact info@australiandesignunit.com.au.

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This website is provided as a service to promote Australian design, and creative entrepreneurship. It welcomes anyone willing to join us in this pursuit.

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The information on adu may be subject to change. Although we attempt to ensure that the content at the time of publication is correct, we do not guarantee its accuracy or currency. The publishers accept no responsibility to you or anyone else arising from any use or reliance on the information contained on ADU or any inaccuracy in the information. The views and opinions expressed on material included in ADU may not reflect those of the publishers.

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ADU is a national medium for advertisers to engage with the cream of creative entrepreneurs, designers and artists – our dedicated network. At any one time we offer a small group of advertisers the opportunity to have sole presence on ADU. A variety of placements are also available on our e-news.

For more information on advertising with ADU, contact:

Publisher Ewan McEoin
ewan@australiandesignunit.com

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Saying ‘no’ can be one of the hardest things to do in business. However, to manage your business well it is important to balance things. This also means balancing between business and design and keeping sight of your plan. Being a creative enterprise means not only having the ideas but also building the commercial structure to support it. Here Stefan Kahn explores the ins and outs of running a design business. Read on

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Getting started in business is exciting but requires a focused plan. What are the first steps to take, and in what order? How much do I share with others, and who are the right people to involve early on. And most importantly, how do I write a creative business plan?

While the creative industry has its own set of rules, it is important to remember that those rules are fundamentally the same in the business world. The sooner you start to understand that designing your business is the foundation for everything to follow, the easier it will be to make good decisions that lead to a successful creative business.

Here Stefan Kahn, Founder and Director of Compact Desk, discusses the steps to take when getting started. Read on

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Things we like, things that catch our eye and make us think, things about designing, or not, and things we think you might find interesting too.

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Individuals residing in the area of Kingston in Melbourne are invited to apply for the City of Kingston’s art and culture grants program. Grants are available to individuals involved in the arts or culture for development activities taking place between July 2009 and June 2010. Applicants can apply for financial help to offset specific travel and participation expenses for activities at a state, national or international level.

Applications will be considered for emerging and established artists and cultural workers to undertake special activities that enhance their creative and professional development. Such activities may include residencies, study intensives, master classes, mentoring, conferences, or presentation of work at a significant cultural event or venue.

Through these grants, the council recognises the need to encourage local artists, cultural practitioners and community based groups to improve their skills in creative and cultural development, and management of arts and cultural activities.

Interested individuals should check the guideline documents for their eligibility. 

This is an ongoing opportunity. 

For more information and to apply visit here.

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