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5 Reasons why…it’s good to take some time out

Life today is packed with things to do, think and stress about. We're generally living on high energy to keep up with life's’ demands and juggling too many balls. With a fast pace and demanding life and career, often we can forget to take a moment to stop, breathe and get some perspective.Definition of take time out: to stop doing what one is doing in order to do something else for a while1. Get PERSPECTIVE Stepping away from day to day life and taking some time to yourself, be it an hour...

July 20, 2021

How to make $25 per hour = $40 per hour

With the introduction of another paid holiday, the Mondayising of another and extending sick pay to 10 days, I was reflecting a conversation that I often have with a clients.  The conversation goes something like this…. I pay my worker $25 per hour I charge them out at $45 per hour (*plus GST they say with a smile 😊) I’m making $20 per hour from them 😊 That’s $800 per week –  even bigger smile 😊😊 But I don’t seem to be making any money – sad face ☹ I...

July 20, 2021

Family Trust - Do we still need ours?

There has been a lot of commentary on the impact of the new act on Trustees and how they are now required to do SO much more! The reality is that a Trustee who approaches their appointment in the manner a reasonable person would and always acts for the good of the beneficiaries, has nothing to be feared with these new provisions. We suggest you consider the following factors, to determine if your trust is still relevant: What was the reason for establishing the Trust?Does this reason still exist...

December 17, 2020

Small opportunity to save some tax

Part of the governments COVID assistance to business was the increase in the threshold for immediate write-off of tools and equipment from $500 to $5,000 for all purchases between 17 March 2020 and 16 March 2021.  This means that you get immediate deductibility for what would, under normal circumstances, be the purchase of an asset.  The impact of this is best explained by an example: Suppose that you need to buy a new item of plant or equipment, a drill press or laptop computer or co...

December 17, 2020

Thinking about helping the kids get a start in the housing market?

Recently, we have been having conversations with Mums & Dads who want to help their children get into the property market. We love these conversations. Mums and Dads love their children, understand the good side and the not so good side of their children’s natures and of course want the best for them. Every family’s situation is unique, as is the type and level of assistance available. That said, here are a few guidelines/options to get you thinking how you might be able to he...

November 13, 2020

The Benefits of Business Planning

All business owners know that one of the hardest things to do is take time out to review the health and direction of your own company, particularly in the busy times of the year.  Perhaps as you go through the Christmas gifts you've received this year, you might give yourself the most valuable gift of all—setting aside some time in the new year to review your progress and book a business planning session. If you’re one or two years into your new venture, chances are you’ve already...

January 8, 2020

Thoughts at the holidays

As I reflect on the year that is drawing to a close, I thought I’d to share with you some conversations that I have been privileged to have with clients during the year. I've tried to be smart and tie it into an acronym of the word Christmas. Yes, I know it sounds corny, but here goes…  Cash flow – Sales is vanity, profit is reality, cash is king! In truth, cash flow is the lifeblood of your business and when it comes to cash flow management, preventing cash issues is far easier ...

December 4, 2019

Planning to make more money in 2019?

I could leave it right there because it doesn't come more straightforward than that. If you own a business, before you get too far into 2019 you need a budget. But I'm a chartered accountant, I would say that wouldn't I? Some people take a bit more convincing — especially when it comes to sitting down and preparing a budget for next year. It really is one of the most vital tools that will help you achieve your goals next year, so please stay with me. You'll be thankful, I promise.There's s...

November 8, 2018

A good leader knows 'the most important thing' - but how do they work it out?

I was with a group of business owners recently at which the seminar leader told us something I thought was profoundly helpful: You, as leaders, need to know what the most important thing is and why.  I don’t think there’s any doubt that to be a good leader, in business or elsewhere, you need to know what the priorities are—not just for you but also for your team. Unfortunately, figuring out the most important thing isn’t so obvious. It’s different from business to bu...

October 25, 2018

Why it’s important to understand the story behind your numbers

Tell me what the following numbers mean: 843 1973 380  I think you’ll agree that you can guess all you like, but it’s near impossible to interpret the meaning of numbers without some context. So, let me give you some. I was listening to National Radio recently (as you do when you’re getting older). I heard an interview with someone who was employed in 1973 as a traffic officer with the Ministry of Transport. When he started his employment, the road toll was 843, which is an ...

September 20, 2018

How to unite your team and increase profits

It will come as no surprise that a lot of the conversations I have with business owners are about making more money. Most of them want the magic formula. It would be nice if there was one—like a magic porridge pot that just keeps producing. There’s no such thing, unfortunately, but there are some key ways that you can increase your income and raise your profits. One of those ways is through leverage. By leverage I mean getting a better result from slightly less input. If that sounds like...

August 10, 2018

Getting traction on the Bike of Life

I ran a workshop recently in which I used one of my favourite tools for assessing business health and sustainability. Afterwards one of the participants came up to me and said the last thing you want to hear after a presentation: That made me depressed! When we sat down to review what she meant, it became clear that the tool had helped this normally gregarious person to identify how poor her social life had been, and what impact that might be having on her business. She had been s...

May 14, 2018

Adding one more thing to the time management discussion

In the spirit of trying new things this year to bring about better results, I recently conducted a time management seminar. Time management is one of those areas that perpetually impacts business owners, and it’s also one of the most discussed areas of potential improvement. I’m sure you’ve come across the popular approaches, from Stephen Covey’s Big Rocks, to Alex Czarto’s Four Quadrants, to dealing with distractions and setting priorities. I wanted to take a different approach s...

May 14, 2018

Loving yourself is more important for your business than you might think

The directive to ‘love your neighbour as yourself’ is one of the most famous of all Bible quotes. Even people who don’t profess a faith tend to know this one and seek to apply it. I find it interesting because while the emphasis is on loving your neighbour, there’s the implicit teaching that you will also love yourself. Another term for this is ‘self care’, and it’s an important principle for running a successful business.We all know the phrase, ‘work on your business as much as ...

May 14, 2018

Drawing lessons from the (all-too-brief) history of the fax machine

Insanity is popularly defined as doing the same things over again and expecting a different result. When it comes to business, I would argue that if you do what you’ve always done, things will actually get worse. Why? Because the contemporary world is changing so fast that if we do the same things this year that we did last year, we’re going to get left behind.One of the questions we all face going into a new year is, how will this year be different to the last?I’d like to take that q...

May 14, 2018

Gaining More Surplus

Article by Clinton Sanford. Image sourced from Unsplash....

August 9, 2017

Waste

Processes either add value, or add waste to the production of an item or service. Waste elimination is one of the most effective ways to increase profitability in a business. To eliminate waste it is important to fully understand exactly what waste is and where it can be found. Toyota, the Japanese automobile manufacturer, after years of work to remove waste, identified the following seven wastes as the most prominent ones. These seven wastes apply to any organization: 1. Overproduction is...

March 8, 2017

How to gain control of your free time

There are 168 hours in each week. How do we find time for what matters most? Time management expert Laura Vanderkam studies how busy people spend their lives, and she's discovered that many of us drastically overestimate our commitments each week, while underestimating the time we have to ourselves. She offers a few practical strategies below to help find more time for what really matters to us, so we can "build the lives we want in the time we've got."...

January 31, 2017

10 Holiday Marketing Ideas For Small Businesses

Holiday season is quickly coming upon us. Halloween, Guy Fawkes, Thanksgiving (if you're from the Northern Hemisphere), Christmas and then News Years are just a mere 12 weeks away. Even though your customers may not be thinking that far ahead, it's time we do. Here are some ideas towards your Christmas campaign that can help ensure your business is top-of-mind with customers this holiday season. Create Curb Appeal. Do something to make your store more noticeable. Take a step out on to the...

September 30, 2016

4 Types of Effective Referral Systems

Referrals often happen when they happen and, while you can't always control when one friend asks another for a referral, you can influence how often your referral sources think about referring your business. Referrals are important in business growth.You should look to build multiple referral systems, which gives your customers and clients opportunities to refer you. Here are some of the strategies you can adopt into your business to grow your referrals. 1. Direct referrals A direct referral ...

August 31, 2016

Are You Ready For Referrals?

Before you step out and start asking for referrals it's important to stop and know exactly what kind of referrals you are looking for. Our friends at Mindshop have some helpful steps about how to make this happen. Step 1 - Create a profile of your best client This step is about understanding WHO your best clients are. Think about your client base and who you have the most successful relationship with, the most fun with, who is easiest to deal with. Understanding who your 'best' client is e...

August 30, 2016

The Difference Between Bookkeeper & Accountant

A good bookkeeper and accountants are invaluable assets to your business, but how do you choose which one you really need. Clinton Sanford discusses the differences between the two....

August 17, 2016

4 Questions Every Leader Needs To Ask Before Moving On

Have you ever felt like you were out of place? That where you are, isn't where you're supposed to be? John C. Maxwell, leadership guru for over 20+ years, has a few key pointers about what you need to ask yourself before moving on. ...

July 26, 2016

What You Need to Do Before You Go On Holiday

Holiday pay has been in the news recently, and we know the Labour Inspectors from the Ministry of Business, Innovation and Employment will be checking that employers have been recording and paying entitlements correctly. Imagine this. You're sipping a wine under the hot Tuscan sun, or taking the family on a much deserved vacation to Fiji...when your phone buzzes frantically. It's Cindy, the new manager you hired before you left, having a query about the calculated holiday pay after she talke...

July 13, 2016

Creating A Great Working Team

High turnover of staff is costly. It burns through company resources and the "invisible costs" incurred in training, enculturing, getting up to speed and introducing a new employee to customers, all adds up. In fact, for a salary role of $40,000 a year, the average cost to business is between $20,000 - $30,000 in the first 6 months alone. That's why finding and maintaining a dedicated team is crucial to your business. Here's how you can do that. 1. The right stuff It's important to employ ...

July 12, 2016 Posts 1-25 of 58 | Page next
 

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