November 10, 2009
Queensland business owners need to step up and take responsibility of their cash flow issues if they hope to succeed, according to New Zealand entrepreneur Carl Bates.
As managing director of a thriving global company, Bates will share his expertise and tips for business success on the Gold Coast this week for the first ever Australian Sirdar Business Summit.
According to Bates, small business owners often use excuses to defend a lack of cash flow and high levels of debt.
“Cash flow is never a problem, it’s only ever a measure. It is a symptom of deeper problems in a business,” he says.
“Revenue and margin are easily eroded by slow paying debtors, customers returning products and suppliers increasing prices, but it is unacceptable to blame a lack of cash flow as why you are not driving the business forward.”
He says even successful small businesses can hold themselves back from expansion by refusing to allow outside assistance for governance and management.
“After a certain point, you can’t do it all alone. Businesses become stagnant without formal accountability and challenge.”
To help small businesses meet this challenge, Bates set up Sirdar three years ago to provide small business owners with ‘guns for hire’ in particular fields.
Unlike a business mentor, the Sirdar team actually join a business’s board, are involved in the day-to-day decision making process and are legally liable for decisions made.
Since its New Zealand inception, Sirdar has experienced extraordinary growth, branching out in Australia, South Africa and the UK.
Bates will discuss effective strategies for businesses to overcome cash flow problems at the Australian Sirdar Business Summit, from November 12-14 at Sea World Nara Resort.
For further details and booking information, click here.