At the newsXpress newsagency marketing group national conference earlier this week on the Gold Coast the newsagency business cash-flow planning workshop proved popular. Over the two sessions more than 60 newsagents participated with more interested but space not available.
The CPA (with newsagency cash-flow planning experience) running the event was surprised at the lack of cash-flow planning undertaken by newsagents. He shared advice and a template for undertaking this to better inform business decisions.
He also provided time saving tips for getting daily business data into your accounting system – sharing insights from the businesses he does the accounts for.
Other popular workshops included lease negotiations, high-GP product supplier insights and success stories form other newsagents.
I was one of the lucky people to attend this workshop. This was really an eye opening workshop. The CPA was fantastic and openely shared his wealth of knowledge. The time saving tips he gave is going to allow me to get the “Garden Gnome” off the back lawn and into the water for an extra spot of fishing!
The most amzing thing explained to me personally was the following phrase…..
“your POS is not accounting software and your accounting software is not a POS system”. This phrase was probably the game changer for me in understanding how little time “accounting” should take a small business to do.
Thanks to newsXpress and the amazing “CPA” who presented this workshop.
I`m off fishing now……!