Many small business owners think they can save money by handling their financials themselves. While it’s a real asset to learn bookkeeping basics, cash flow management and your tax obligations, hiring an accountant to oversee your business finances has many benefits. “But why would I pay for an accountant or bookkeeper when I can just do it myself? I am saving money. Surely that is a good thing?” We hear this… Read more
You know what gets my goat more than anything…a meeting held just for the sake of having a meeting. If you are not having a productive meeting, then really, what is the point? Isn’t it just wasting your time? When running a business (of any size) – you simply don’t have time or resources to waste. Yet many small business owners waste countless hours on meetings that lack focus, run… Read more
“My business is not making enough money, and I don’t know what to do.” We hear it all the time. Instead of ignoring the cause of the problem, it is time to put the brakes on and review the non-essential costs. When faced with cash flow or profitability issues, most business owners first reaction is to try and find new clients or customers. Feeling desperate, they totally forget what their… Read more
So you want to move from a Sole Trader to a Company but you have quotes ranging from $500 to $3000. Why is there such a drastic variance? And what exactly are you getting for your money? “But the first question you need to answer is ..Do you even understand why you want to change structures?” Sure – you can change from a sole trader to a company, what seems to… Read more
When was the last time you really listened to your clients, your customers, your suppliers, your contractors, your employees – and actually gave them what they really wanted? Now of course everything within reason – I mean I would like a million dollars, a holiday to the Bahamas and also a house that cleans itself. “But every day, it is often the simple things people do that wins my loyalty… Read more
Each time I seem to go into a business Facebook group I see the same comment…. “My Bookkeeper/Accountant is over charging me – surely it is a simple job. Why are they so expensive? They are ripping me off.” Now, before I get my “ranty pants” on – let’s reverse this for a minute. Think about the service you offer and imagine how you would feel if people (who did… Read more
Have you spent thousands of dollars attending courses and training programs on how to sell? On how to increase sales in your business? On the easiest way to sell? Anything to do with selling? “Well I am telling you right now, one trip to Fiji and you can learn all the lessons you need to makes your sales funnel electric.” Now I must admit, I am not a sales expert.… Read more
How to obtain a business loan is a common concern for start-up businesses and those preparing to scale. So how do you get the banks to say “YES”? Getting approved for a business loan or line of credit is usually more difficult than qualifying for a personal loan. It’s crucial that small business owners are adequately prepared when meeting with a lender to present their business in the best possible light. “Rocking… Read more
I would love someone to help my business. MUST HAVE skills, experience, qualifications, knowledge, be a self starter and be able to work without supervision. MUST ALSO be prepared to work for under minimum wage. “God, oh please sign me up. I just can’t wait to work as your slave.” Seriously – how can that even be an ad for a job? How can a business woman advertise for someone… Read more
Should I use Xero or MYOB or Quickbooks Online or Wave or Saasu or Freshbooks (the list goes on). This is a question we hear from small business owners every single week. So what is the best accounting software for a small business? “Now call me annoying – but I can’t answer that. And anyone who does, is not giving you an accurate answer.” #TRUTHBOMB So, um, if I can’t… Read more
Most small business owners who use accounting software quickly master the basics. They automate processes like invoicing and payroll, track expenses and view real time financial reports to manage cash flow and make better business decisions. But what many business owners don’t take advantage of are key insights that can improve customer care and increase sales. So we are talking the nitty gritty analysis. What do those numbers actually mean… Read more
Happy EOFY. Time to relax right? Wrong – this is the best time to review your business plan for the new financial year ahead. Yep, thats right, no rest for the wicked. Here are some of our tips to make the your business plan process more productive (or should I say, actually useful). Don’t fly solo – get your team involved Business planning works best when it’s a team effort.… Read more
I am a big believer that whilst I run my small business, community comes before competition. Relationships come before profit. And happiness comes before growth. Yes, I have over 100,000 competitors in the accounting & bookkeeping space in Australia alone – but I see those people as my mentors, my rocks, my shoulders to cry on, my support network to learn from and my community first and foremost. “Call me… Read more
If you are a small business owner, an entrepreneur, a solopreneur, a mumpreneuer, the next Zuckerberg or a combination of all of these – you need to constantly upskill or fear getting left behind. Or worse – get a knock on the door from the tax office because you have failed in some kind of business obligation that you had no idea about. And I am not just talking about… Read more
Cyber crime is a serious concern for business owners in this modern digital age. Hackers are good. Really good. So how do you stay one step ahead? Recently IBM Chair, CEO, and President, Ginni Rometty, called it “the greatest threat to every company in the world”. According to Juniper Research, by 2019 cyber crime will cost businesses a staggering $2 trillion. $2 trillion – WOW. Personally, we think it is impossible… Read more
I have many qualifications – not because I love studying, but because I love what I do. I am a numbers nerd through and through. I am a qualified Chartered Accountant, a Member in Practice, a member of the Institute of Public Accountants, a member of the Institute of Certified Bookkeepers, I have an accounting degree and I have worked in the accounting space since I was 20 (so for… Read more
I am writing this on behalf of every entrepreneur, every small business owner, every hustling parent – pretty much everyone busting their gut for the own business. I know deep down, you have also had days where you want out of your business. You want less stress, less hours, less hectic-ness, less fights with your partner, more happy times with your family, less constant struggles with balance and you want… Read more
It seems everywhere I turn at the moment, there is someone who has an opinion on how a bookkeeping and accounting business should run. It also appears that these “so called experts” are quite willing to judge me and my business without knowing a single thing about me, how I operate, how I attract and retain clients, how my staff operate – and they certainly have no freaking clue about… Read more
As we wake up to another Fashion Brand going into administration, the question needs to be asked: What is the Future of the Retail store? Is it possible that a physical retail store will exist in 20 years time? Or is a profitable shop front a thing of the past? Smart Company have just released today news of David Lawrence going into voluntary administration, and in the past twelve months it… Read more
My business is 4 years old (nearly – but I am an accountant so I round up!). I am about to release into the world my third website in 4 years. Am I crazy, or have the updates been necessary? Is a website still relevant in this digital age? Well let me give you my perspective on whether an accounting or bookkeeping business NEEDS a website. Last year, I attended… Read more