Every year there are awards for various industries and the Accounting and Finance industry is no different. So why do I enter awards? Is it worth my time, effort and money (and yes, some of them are certainly not free). And what do I, or my business, actually get out of it? “These are question I get asked each year, and for the life of me I used to think… Read more
Being open to new possibilities is a positive trait shared by most entrepreneurs – but saying yes to all the people you meet and opportunities that come your way can get you & your business into trouble. When was the last time you said NO in your business life? When we overcommit – especially when we take on projects that don’t actually benefit our business – our stress can hit… Read more
In this day and age customer loyalty can make or break a business. Service based or product based, if you don’t build genuine relationships with your customers, they will just go elsewhere. You need to pay attention to your customers smallest desires and you will have them for life. The rise of social media can make it feel like we have relationships with our customers or clients, but we all… Read more
Dodgy invoices. Forging bank details. Bill tampering. Just to name a few. Employee fraud is a real risk for entrepreneurs of fewer than 100 employees. In fact, according to the Association of Certified Fraud Examiners 30% of fraud cases take place in small businesses. That could be your business. Several years ago I worked for an employer and uncovered $35k worth of employee fraud that the business owner had no… Read more
We get asked all the time – how can you be both a bookkeeper and an accountant? Easy. Whilst they are both different in skill set, in mindset and in the work we do, we feel you get the best deal if you have a bookkeeper and accountant who can work cohesively together. If you are like many business owners, you may not be exactly sure of the differences between… Read more
With end of financial year fast approaching, we see many clients come to us “for a quick and simple review” of their numbers. I mean, they currently use a bookkeeper and whilst the business owner doesn’t keep on top of things in great detail, it all must be perfect right? In an ideal world yes, but I think we all know we live in anything but an ideal world. Most… Read more
After ten days in the USA (part conference, part holiday) I returned back to Australia yesterday. When you run your own business, recovering from jet lag over several days is just not an option. I need to be back on deck and 110% on my game by tomorrow. So how do I banish Jet Lag? Firstly, assuming you won’t suffer from jet lag is really not a great strategy. Whilst… Read more
As a business owner, for the past 5 years I have been running my financial coaching, accounting, training & bookkeeping business. And whilst it continues to grow and be successful, I have never had a stress free holiday in that time. I was always constantly attached to my laptop/iPad/phone and had to be on call for clients every day because my business was me. “I had created a monster. The… Read more
Sounds like it doesn’t make sense right? I mean you have spent ages thinking about your ideal client, who you want to work with, what kind of person they are, what they look like, how they think, where they hang out. So how can focusing on that ideal client cripple your business? Surely it should grow your business? Well here’s the thing. Your ideal clients should have the same attitudes… Read more
Today, March 12th, 2018 Xero crashed. And it was of epic proportions (well according to some). Every second bookkeeper lost their shit five times over as Xero wasn’t back up and running within 30 minutes. I know it is an inconvenience, but really, it is out of our hands. “A problem is only a problem if you make it a problem. So stop focusing on the problem, and start working… Read more
So you have a side hustle – heck, most of us started the same way. Working in a “day job” and starting a business on the side. Using the cash from the day job to fund the start-up we hope will soon take off and then we can kiss goodbye to the 9-5 and finally be our own boss. Who wouldn’t want to live that dream? “Time and time again… Read more
Now, to be honest, I never thought I would write an article about how a car salesman has great customer service. Sounds like a total contradiction right? But the entire experience I recently had with buying a new car just warrants a blog post. So what can business owners learn about customer service from a car salesman I hear you ask? Let’s face it – you don’t believe me and… Read more
So business is booming and you need to hire staff. You should be so excited (and proud). But payroll is not for the faint hearted #understatementoftheyear Even with the best accounting software in the palm of your hands (or pocket), payroll and employer obligations can be a minefield, and difficult to navigate. There are minimum wage requirements, payslips, withholding the right amount of tax, paying superannuation, overtime, bonuses, annual leave,… Read more
Was your goal always to build a thriving brand to eventually sell your business for a tidy sum? Or maybe for other personal reasons it’s best to sell your business sooner rather than later. No matter what the reason is to want to sell your business, experts agree: it’s best to be prepared well in advance as it can take months (sometimes years) to complete a successful sale. These four tips will… Read more
Advertising is an essential component of success for any business. Proper advertising ensures more sales, but if you choose the wrong options, it can be a very expensive outlay for no return at all. “Most small businesses just think “too bloody expensive” when they think of advertising, so it is time to look outside the box and find the right kind of advertising for your business.” Let’s look at five… Read more
New Year’s Resolutions – we’ve all made them, and we have all broken them − often before the end of January. That’s right – we don’t even last a month with our new found goals and enthusiasm. There’s something about New Year celebrations that makes us yearn for a fresh start, but is there a way to make that desire for change more permanent? Here’s a twist that can make… Read more
Growing a business requires you to collaborate, both internally and externally. So you should be facilitating employees in a way that allows them to work together to problem-solve and act with a shared purpose. And this applies even more so to remote or interstate teams. Starting and growing a business requires more than employees with extensive functional skills. You need to be on the same page. You need to collaborate.… Read more
Nearly 5 years ago I started this business. After 2 redundancies and 2 children under the age of 3, I just thought there had to be a better option for providing financial guidance with personality and flexibility. The personality came in abundance, but the flexibility not so much. So I am opting for a tree change in 2018. As a family we are moving to Ballarat, so my business will… Read more
Inventory is what makes your business grow, it’s what makes it tick. It is usually the largest asset on your balance sheet and your company’s biggest revenue-generator. Without it, you wouldn’t be able to make sales if you are in retail operations. It goes without saying that poorly managed inventory can do serious damage to your bottom line. Businesses without clear strategies for streamlining the in AND out flow of goods… Read more
Eighty percent of staff turnover is caused by bad hiring decisions, according to the Harvard Business Review. But few organisations question whether it is their own recruitment mistakes which are turning away potential talent. “In fact, I am sure most people blame the candidates if the work relationship turns sour. But if your recruiting strategy exhibits any of the following obstacles, it’s time for a rethink.” 1. Self-Absorbed Job Advertisements Most… Read more