Creating Financial Stability For Your Pet Biz

Tricia Ong, founder and business management advisor at Mintrix Business Advisory, joins Tarryn to discuss the importance of knowing your numbers in your business, and how to manage the rising cost of living impacting on many areas of your business – both now and in the future.

They also talk about developing cash buffers and understanding seasonal fluctuations, to prepare for highs and lows, as well as utilising tools like Google Sites and AI programs such as Chat GPT to improve efficiency.

Topics touched upon in this episode also include:

• Understanding the difference between cash and profit
• Building cash buffers and forecasting cashflow
• Delegating tasks and building a support network
• Taking breaks and finding balance
• Differentiating from competitors and targeting a specific niche
• Seeking help from mentors, advisors, and professionals in areas of weakness
• Showing value rather than engaging in price wars with your competitors

Plus much more!