breakUp

Contributed By: Mike Phipps Finance

Mike Phipps Finance

I see there is a financial institution out there that proposes that it’s possible to love a bank.  It’s an interesting premise and given the overuse of the L word in modern dialogue I thought I’d go back to basics and have a look at the definition of love.  Turns out its pretty much all things to all people albeit my search through the Interweb found this rather succinct paragraph. Love can make you do anything and sacrifice for what will be better in the end. Love is intense,and passionate. Everything seems brighter, happier and more wonderful when you’re in love. If you find it,Read More →

tie

When buying a management rights or leasehold accommodation business such as a motel there is an interesting dynamic at play that many purchasers fail to pay sufficient attention to. The fact is that outside the core group comprising the purchaser, the vendor and their associated advisors there is a third-party lurking. In the case of leases it’s the landlord and in the case of management rights it’s the body corporate. In both cases this third party has a vested interest in the professional capacity of the purchaser and their likely prospects of success. In both cases character, financial standing and qualifications will be important considerations.Read More →

tech

Contributed By: HiRUM Software Solutions

HiRUM Software Solutions

Think back to a time when websites were merely an imaginary idea, rather like the concept cars of the future, considered impossible by the masses. Most couldn’t even visualize Google, it was just a funny word, spoken but rarely understood. Most of us couldn’t picture in our minds how a customer in the United States might be able to tap a few keys on his keyboard to book a hotel in Australia. How could that possibly happen without a phone or a fax? And just what was this thing called the Internet that none of us could see but which was creating immense wealth forRead More →

risk

Contributed By: Mike Phipps Finance

Mike Phipps Finance

Everything we do as humans carries some form of risk. Stay in bed, grow fat and have a heart attack. Go out exercising on your bike and get hit by a bus. Eat and drink what you love and end up with high cholesterol. Watch your diet and feel miserable. It’s all about risk and more importantly a couple of key dynamics that are worth considering and they go hand in hand. The first is Risk Mitigation. We hear the term all the time, mostly when politicians or stockbrokers are talking. This is a pretty simple concept. Consider a risk and then look for thingsRead More →

crystalBall

Contributed By: Mike Phipps Finance

Mike Phipps Finance

Ok, I’ve said this every year but just to keep my 100% record intact………………..where the hell did 2016 go? Time just seems to fly doesn’t it?  It’s obviously an outcome of encroaching old age and certainly a reminder to enjoy life and not sweat the small stuff.  And let’s face it, in the overall scheme of things its nearly all small stuff. As usual I have made numerous resolutions with reduced alcohol consumption, a better diet and more exercise high on the list. I have also promised myself to appreciate the managing director more and not be such an egotistical, self-centred narcissist.  Not sure whereRead More →

ledge

Contributed By: Mike Phipps Finance

Mike Phipps Finance

Human ambition is an interesting thing. Even while confronting the terror and stress of a new role or business venture many of us are already thinking about the next step. I reckon it’s all part of our innate survival instinct ingrained into us as a species. I’ll bet that even while our distance Neanderthal cousins were dragging that Brontosaurus back to the cave they were already planning the next hunting expedition and perhaps some improved techniques and a more effective and efficient conquest. All the better to improve ones lifestyle and avoid the risk of becoming dinosaur poo! This thirst for improvement and the nextRead More →

bad-Payer

Contributed By: Real Strategix

Real Strategix

I am going to touch on a subject that relates to everyone on a daily basis. As business owners, do we name and shame customers that cost us money? I don’t care what business you operate. I guarantee all of you have at least one customer who believes they are better than you and everyone else. That one customer will simply refuse to pay for services/products rendered. We have quite a few! It is very hard to sit back and watch while they keep trading with their big franchise name knowing that the smaller operators cannot afford the legal fees or resources to fight them. It isRead More →

first

Contributed By: Real Strategix

Real Strategix

End of Month is called end of month for a reason ….to pay everyone at the end of the month. As a trust account trainer the most common question asked is “when do I do end of month?”. Some people are adamant that it should be done on the last day of the month as “that is the end of month” …others think it should be done on the first day of the month to include all of the transactions for the month prior; even if it is a weekend and others think that it needs to be done on the first business day ofRead More →

loanFinance

Contributed By: Mike Phipps Finance

Mike Phipps Finance

In our last bulletin we talked about our view that we are moving into a tighter credit environment in which bank lending guidelines will become stricter. We also talked about challenges existing borrowers are having with annual business loan reviews and extended interest only periods. The reaction to this bulletin has been remarkable with many business borrowers expressing concern around a range of experiences they are having with their lender. To be frank some of the concerns raised with us are of the borrower’s own making and reflected a lack of understanding of the terms and conditions of the loan. In many cases we haveRead More →

denied2

Contributed By: Short Punch & Greatorix

Short Punch & Greatorix

Some time ago I published an article on what I thought was reasonable for a Body Corporate to request from a buyer of management rights, in considering whether or not a Body Corporate committee should consent to the transfer of management rights agreements to the buyer (See the original article here). This is an important issue, because under the Body Corporate and Community Management legislation, a Body Corporate committee must not unreasonably withhold approval to a transfer. Under the legislation, one of the matters which a Body Corporate committee may have regard to is the financial standing of the proposed transferee. My opinion as expressed in my previous article wasRead More →