Decoding the mysteries of depreciation

Most goods lose value over time. Boats rot, patents expire, machinery wears out, and computers become obsolete. Depreciation attempts to estimate and record this loss of value.

Cash is a fact. Profit is an opinion!

The accounts of a business must reflect all transactions, whether physical or cash, that take place during the accounting period. If they don’t, beware, especially if someone assures you the...

Get to know the real state of your business

The fact that many of us still do not understand the basics of accounting is a harsh indictment of the quality of education we received at school.

Yield and quality determine profits, nothing else!

Costs under your control such as yield and product quality are what determine farming success. Don’t waste time on costs you cannot influence or control.

Financial literacy: an essential life skill

When he called his bakkie an ‘asset’, and took 30 minutes to find an unread set of management accounts, I realised where the root of the problem lay.

Your attitude makes all the difference!

Here is the story of a family who faced daunting difficulties yet refused to flee from them. Instead, they set to work building a successful business and living fulfilled lives....

Managers need more than production skills

Many farmers are highly knowledgeable about growing grain or running livestock. But relatively few hold even basic skills in financial literacy. Are you one of them?

How ‘balanced’ a business manager are you?

Business managers require skills in four key areas: production, marketing, human resources, and finance. The last of these is a challenge for many South African farmers; if you’re one of...

Practical ways to motivate your employees

It’s quick and easy to demotivate someone. In contrast, it takes time and effort to build motivation. If you have demotivated employees, first look in the mirror.

Do you know what today’s consumers are eating?

Don’t be caught napping by changes in dietary trends. They could hit your profits hard. The data is there; analyse it and adapt your product range accordingly.

Do you ‘move’ or ‘motivate’ your employees?

People who simply ‘move’ in their jobs never flourish. ‘Motivated’ employees achieve success, and it’s your job to get them motivated.

Personal development plans – Branson style!

All employees have work-related and personal needs. Do your best to meet these, and your business will benefit a hundredfold.

Help your employees reach their full potential

Personal development plans can make all the difference to your employees’ motivation, happiness, and productivity at work. Here’s how to go about implementing them.

Don’t be seduced by gadgets

New communication technology has changed the world, and will continue doing so. Are you its master or its slave?

Unleash the power of high trust

Do you as a manager trust your employees? Do they trust you? If not, you will struggle to maximise the potential of your business. Here are some practical tips on...