Keeping your cashflow flowing

Keeping your cashflow flowing

When finances start to get tight, our first instinct is often to look for ways to increase our earnings. You can, however, improve your cashflow significantly by stopping leaks and spills in your everyday accounts.
Time and money are your most valuable business assets. In this feature, we’re looking at three ten-minute tips to help keep your cash flow flowing. 
#1 Don’t be late: automate
Have you ever tracked the late fees that accumulate on bills paid past their due date? While we all have the best intentions of paying accounts on time, our ‘real work’ (the fun stuff) often gets in the way. Both Telstra and Optus will slug you with a $15 late payment fee if you miss their due date. Missing your energy bill will cost you around $12, too, and late payments on credit cards can cost you up to $35! Maybe you’re ok with donating your hard-earned dollars to these hugely profitable players? If you’re not, though, taking ten minutes to set up an automatic payment system should be top of your list of to-dos.
#2 Track your Transactions
Studying your bank statements isn’t a particularly fun task. Still, it’s something all small business owners should get in the habit of doing. Allowing ten minutes to check your transactions at the end of each month can uncover all kinds of leakages, including:
  • Online subscriptions – how many times have you tested a new app or program with a ‘free trial’ lure. If you’ve handed over your credit card details to get the download, and haven’t cancelled the account when you discovered you wouldn’t need said app or program, a new sneaky debit could be an expensive long-term leak.


  • ATM and bank fees – withdrawing cash from random ATMs will typically incur a sneaky fee; a couple of bucks seems insignificant, but these ‘drips’ can certainly add up. The same goes for monthly bank fees – can these be negotiated with your bank? Will another bank offer a ‘no-fee’ account? What kind of interest rate are you paying on your credit card? Could you do better with another type of card, or perhaps another lending institution? 


  • Increased service fees – monthly payments for insurances and other services are super convenient and can help your cash flow. They can, however, make us a bit lax when it comes to comparing prices at renewal time. When you’re keeping a check on your monthly debits, you may be surprised at the increase in premiums and fees between one year and another. When you see an increase, take action right away and investigate your options (more about that below).
#3 Comparing Cover
We all gripe about paying insurance, but not having cover when you need it could cause a lot more pain down the track. Finding the best value insurance is essential: allow yourself ten minutes per week for the next four weeks to price check your business insurances (PI & PL, Vehicle, Office or Home & Contents and – while you’re at it – health insurance). Ask how much you’ll save by paying annually rather than monthly. Compare the savings you make to your hourly rate, and you’ll see it’s time well spent.
Note: when you’re looking at PI & PL, don’t forget our tailor-made group policy. This cover is designed for designers (so you know it’s a good fit), and with the benefits of a group buying power, it’s a hard-to-beat price. Learn more here.
Do you have a ten-minute tip that’s made a big difference to your bottom line? We’d love to hear it, so comment below.
Creating a ‘brief’ for your business

Creating a ‘brief’ for your business

Business strategist, Clive Enever, joined us once again this week, sharing some excellent food for thought with respect to sales and business in our PD Thursday videoconference.

Clive began his presentation with an exploration of ‘change’. As many of us are experiencing now, change can be a frightening thing. But, as Clive explained, when you take charge of change, it can be a catalyst for considerable improvement.

As designers, we’ve all honed the skills of preparing briefs for clients: before we begin to design a new space, we need to assess the parameters of the site (limitations, challenges, and potential), along with the needs of the client (how will they use the space?).

Like a well-designed kitchen or bathroom, a business needs the same assessment and ‘wide-angle view’ to be a success. A business plan is essentially your ‘brief’, and it should set out the following clearly and cohesively:

  • What service or services do you deliver?
  • How do you provide these services, and to whom?
  • What activities are essential to ensure success?
  • What challenges are you likely to encounter?
  • What additional learning may be required to achieve your goals?


When you’ve mapped out the above, you’ll be better placed to work on the four items Clive believes are crucial for business and sales success:

#1 Qualifying Statement

When you know who you want to work with, you’ll become proficient at identifying your prospects quickly and efficiently. Time is precious, and you need to make sure you’re focussing on the right people at the right time.

#2 Mission Statement

When you’ve developed and honed your mission statement, explaining who you are, what you do, for whom and why will be a breeze.

#3 Statement of Intent

If you’ve ever struggled to explain your services and processes to unknowing clients, a Statement of Intent is what you need. By summarising what you do clearly and concisely, you’ll be better placed to sell your services without the ‘ums and ahs’.

#4 Goals, goals, goals

Clive believes that identifying goals, tracking their progress and celebrating the wins are all essential to business and personal growth and success. Knowing what you want is as important as knowing what your client needs – make your ‘rewards’ your starting point, and you’ll be well on your way to getting what you want from life.

I bargained with Life for a penny,

And Life would pay no more,

However I begged at evening

When I counted my scanty store;

For Life is a just employer,

He gives you what you ask,

But once you have set the wages,

Why, you must bear the task.

I worked for a menial’s hire,

Only to learn, dismayed,

That any wage I had asked of Life,

Life would have willingly paid!  

Jessie Belle Rittenhouse


Clive has generously offered KBDi Members access to his business plan template and a free call to help you discover how you can better move forward. You’ll find the template here.      

Missed this videoconference? KBDi Members will find a recording of this session in their Members Portal on Friday, 28 August.

PD Thursday | Selling in Troubled Times

PD Thursday | Selling in Troubled Times

Thursday | 20 August 2020 | 4pm AEST

Business Strategist, Clive Enever, is back with a sure-to-motivate session about selling in troubled times. During this videoconference, Clive will encourage you to explore how you can take charge of change, and challenge your ways of thinking about business and sales. He’ll ask you to define your ideal client, and get you to consider how you can qualify and converse with the right people at the right time. Attendees will leave with a link to Clive’s Business Plan template, and be armed with the knowledge of where to start when it comes to business planning.

About Clive Evener

Clive Enever is a Business Strategist with over three decades of business and mentoring success. With a background in sales, marketing and business strategies, Clive works with entrepreneurs and business owners to set, meet and exceed their goals. Whether you’re looking for increased income, less stress or a better work/life balance (or a combination of all three), Clive’s coaching will deliver strategies, processes and habits to help you reach your targets.

Watch the recording

Whoops, this video is for Members only. If you have a membership, please log in. If not, you can definitely get access! Become a KBDi Member here.

Five minute marketing – tips to keep your marketing on track

Five minute marketing – tips to keep your marketing on track

Members who joined our ‘Making Marketing Part of your Day’ videoconference took away some absolute gems from the presenter, Linda Reed-Enever.

The marketing guru shared some fantastic tips for getting consistency and momentum in small business marketing. Linda introduced the concept of a ‘five-minute mindset’, and encouraged members to look for grabs of unproductive periods that could be reallocated to five-minute marketing tasks.

Linda shared a whopping list of five-minute hacks with members; following are just a few to help get you motivated:

# Use the power of Google
Linda suggests you take five minutes to set up a Google Alert for your business. When you or your business get a mention online, you’ll be notified by Google and know when and how to jump on in.

#2 Talk your ideas out
Not all ideas need to be written out. Use ‘Google Talk to Type’ or a voice recorder on your phone to capture your moments of brilliance when they arrive.

#3 Create an action list
Feeling inspired? Take a five-minute break to create a list of blog or social post ideas, a list of events that should be in your calendar or a list of potential good news stories that you could share with media outlets. When an opportunity arises for some content creation or publicity, you’ll have a list of clever concepts on the ready.

#4 Ask for a review
People buy from people they trust, and reviews and testimonials help create this trust. Take five minutes to ask two of your favourite customers for a short and sweet testimonial. Turn these reviews into graphics for your socials, and add them to your website.

#5 List your business
Linda encouraged members to add their businesses to popular online directories. The KBDi Find a Designer listing is a great example: if you’re not on this list of Australia’s finest designers, give the office a call today and we’ll help you get there.

Missed the video conference? Members will have access to this in the Members Portal soon.

Special gift for KBDi Members

Linda has generously gifted her Marketing and Automation Toolkit eBook to KBDi Members. You can get your copy via the link below.

This Toolkit is for Members only. If you have a membership, please log in. If not, become a KBDi Member here.

Confused about PI and PL insurance?

Confused about PI and PL insurance?

If you provide advice to your customers – like how to set out a kitchen or bathroom, for example – a mistake or misunderstanding around the information you give could see you facing a legal claim.

Professional Indemnity (PI) insurance is essential for those who offer design advice as part of their service. PI insurance covers an ‘act, error or omission in design or specification’, and provides both you and your client with great peace of mind.

Doesn’t my Public Liability (PL) Insurance cover this?

If you charge fees for your service and advice, most (if not all) public liability policies will exclude claims for injury or damage that may arise from a breach of your professional duty. You’ll need professional indemnity coverage to respond to such claims.

How is a Professional Indemnity (PI) claim triggered?

A public liability claim can only be triggered if there is third party injury or property damage. A professional indemnity claim, on the other hand, can be instigated by a financial loss to your client or a third party contractor as a consequence of an error or omission deemed to be a breach of your professional duties.

We’ve worked closely with our insurance partners, CMIB, to tailor a combined Professional Indemnity and Public Liability Insurance Policy that best reflects the services carried out by kitchen, bathroom and interior designers. And we’ve leveraged our group buying power to negotiate a hard-to-beat rate, too, with premiums starting from just $495.

Keen to get a quote?

To get an accurate quotation for your current set up, complete our online application here. Our insurance team will assess your situation and send you a quote asap.

Or would you like to compare policies?

To compare your current insurance policy with the KBDi insurance policy, simply complete the above online quote form (click on the ‘Apply for PI and PL Insurance button) so we have all your business activity details. Send our office an email with a copy of your current policy schedule and Product Disclosure Statement (PDS), and we’ll arrange for our insurance broker to compare the policies.

Not yet a member but interested in learning more? Complete the form below and we’ll be in touch.

PD Thursday | Making marketing part of your day

PD Thursday | Making marketing part of your day

Thursday | 9 July 2020 | 4pm AEST

With five bustling businesses in the Enever Group Family, Linda Reed-Enever knows what it’s like to be busy! As a publicist and marketing consultant, she also knows the considerable value and importance of marketing. In this session, Linda will share her best tips and tricks to make marketing part of your day and eat the elephant one bite at a time.

About the Presenter

Publicist and Marketing Consultant Linda Reed-Enever lives and breathes publicity and has a passion for connecting everything from people to ideas. Linda is the Principal Director at ThoughtSpot PR and Founder of Media Connections and Business Business Business. With her ‘can do’ attitude and entrepreneurial spirit, she inspires and motivates as she connects people and opportunity. Linda’s innate ability to network and think on her feet has positioned her as a dynamic leader and ‘go-to girl’ in the communications and marketing arena.

Watch the recording

Whoops, this video is for Members only. If you have a membership, please log in. If not, you can definitely get access! Become a KBDi Member here.