About Colin Wright

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So far Colin Wright has created 21 blog entries.
6 03, 2017

Gross Profit – Do you measure the unknown unknowns?

By |2019-06-20T02:40:29+10:006 March 2017|Featured|0 Comments

“You must understand the impact of the known unknowns and the unknown unknowns onyour gross profit. Unless you capture all costs in your gross profit measure, you will not be in a position to reduce these costs” Measuring your gross profit is not just about measuring the known costs relating to the supply of [...]

21 02, 2017

There are four ways to improve your cash position, but “Gross Profit” is the most important!

By |2019-06-20T02:01:19+10:0021 February 2017|Featured|0 Comments

“There are four principal ways to improve your cash position. Introducing new funds, unlocking tied up cash, reducing cash leakages and generating increasing cash flows.” In every business, managing the cash reserves of that business is critical to its performance. Too many businesses tie up valuable resources in juggling cash flows and revising less [...]

14 02, 2017

Variance analysis, the Why to support the What

By |2019-06-20T02:36:05+10:0014 February 2017|Featured|0 Comments

“Successful business managers have a plan. Their management reports tell them how they are performing against that plan. Variance analysis enables them to understand WHY their results are different to the planned outcome.” At the simplest level, variance analysis assesses the difference between actual results and budgeted results. However, when applied to gross profit [...]

9 02, 2017

3 Ways to Grow Your Gross Profit Margin

By |2019-06-20T02:05:56+10:009 February 2017|Featured|0 Comments

“Until you have detailed information on the many elements that make up your gross profit, you will be a hostage of your business. Once you understand your gross profit margin you can start driving your business” There are three ways you can grow your gross profit: Increase sales prices Reduce variable direct costs Increase [...]

3 02, 2017

Managing gross profit is difficult

By |2019-06-20T03:12:52+10:003 February 2017|Featured|0 Comments

"Many businesses manage their overhead expenses to within an inch of their life but do not understand their cost of sales." This is often true for a very simple reason. Overhead expenses are relatively easy to understand in the context of a reporting period. Cost of sales expenses are a much more difficult proposition. [...]

1 02, 2017

What does gross profit really represent?

By |2019-06-20T03:17:51+10:001 February 2017|Featured|0 Comments

"Gross profit is the measure of the wealth creation (value added) process of every business. Overhead expenditure represents the cost of managing and nurturing this key resource." We believe that the accurate measurement of gross profit is the most important element of financial management. Detailed analysis of this critical measure can only be done [...]

4 05, 2016

Budget 2016 – Recognising the power of the SME business sector

By |2019-06-20T01:56:38+10:004 May 2016|Featured|0 Comments

Government recognising the importance of the SME sector For too long SME businesses have carried the load of driving Australia's economy without getting the recognition from government it deserves. This is now changing under the current Government. The extension of the $20k instant write off to businesses turning over up to $10m should stimulate [...]

21 04, 2016

The Virtual CFO industry now has a voice

By |2019-06-20T01:52:44+10:0021 April 2016|Featured|0 Comments

On 2nd November 2015 Michael Stapleton and I caught up for a coffee to chat about our virtual CFO businesses. Five and a half months later and the Association of Virtual CFOs is launched. That was five and half months of intense planning and working towards the goal of a working association. Initially it was an idea. [...]

31 03, 2016

Business is Risky. Assess it to control it.

By |2019-06-20T01:48:29+10:0031 March 2016|Featured|0 Comments

At the recent AFR Business Summit 2016 (15 & 16th March), the impact of rapid change on the business environment was a major topic. We are living in a time of massive economic change which is being driven by a number of factors including: readjusting from the mining boom, rapid technological changes and the [...]