10 Hats in Every Business seminar

11:00, Wednesday, April 17, 2024 

Join Angela Brown at this 90 minutes seminar to understand how
you can improve your organisation structure and take back control of your
business.

The benefits of attending:

  • Learn how you can free up your time and achieve better leverage – without
    blowing yourself apart
  • Learn the 10 Hats and why every business has them
  • Understand which hats you’re wearing effectively
  • Learn the function, responsibility and performance expectation of each hat
  • Implement strategies so your entire team works smarter, not harder

Fixing your organisation structure could be the breakthrough you
need to free up time to grow your business.

  • Do you find yourself spread too thin in your business?
  • Does your business have a clearly defined structure?
  • Do you have job descriptions for every role?

Booking essential!

https://app.acuityscheduling.com/schedule.php?owner=24616621&appointmentType=61495788

Webinar: Ramp up your Business with Xero!

11:00, Wednesday, March 13, 2024 

Nobody goes into business with the intention of doing paperwork. Long days are made even longer by manual data entry, chasing up receipts, reconciling bank accounts, and following up customers for payment. How much time would you save if all of this was automated?

With Xero, you can save time, reduce your stress levels, and get paid faster. You’ll gain valuable insight into how your business is performing and be able to project your cashflow, enabling you to make better informed decisions.

We Invite you to join us on 13 March at 11:00 for our complimentary webinar, Ramp Up Your Business with Xero, where you’ll:

  • Discover how you can achieve more financial, mind and time freedom
  • Understand the benefits of using Xero in your business
  • Learn how to get paid faster with less stress
  • Understand how Xero provides important insights into your business
  • Identify technology in the Xero ecosystem to support business operations

Can’t make it that time? No problem, get your link before the event start to get access to the recording.

REGISTER HERE: https://us02web.zoom.us/webinar/register/WN_6EyC7ujFT3mLj8cuaHXKHA.

Building a Better Business – Step 3

Written by Bronwyn Pilkinton / BBus, PTBA

“Opportunities don’t happen. You create them.” – Chris Grosser

Introduction: In the journey towards building a better business, Chris Grosser’s words resonate profoundly: “Opportunities don’t happen. You create them.” Crafting a path to success requires an unwavering understanding of your current position – a critical step often overlooked by many. It’s akin to having a treasure map; without knowing where you are, plotting a course to success becomes an aimless endeavor. In Step 3 of our series, we delve into the significance of defining your business’s starting point, warts, and all.

  1. Alignment among Owners/Leaders: The first checkpoint on the road to success involves an honest assessment of the alignment among owners and leaders. Do they share the same dream for the business? Resolving conflicts and aligning visions are paramount to success. It is impossible to move forward cohesively if there’s discord at the top. Aligning thoughts lays the foundation for a unified journey.
  2. Analysing Current Results-Driven Activities: It is not merely about the numbers; it’s about the activities driving your results. How effective are your lead generation efforts? What is your conversion rate? Understanding these metrics sets the stage for improvement. Success lies not just in the destination but in the journey, and knowing the driving forces behind your current outcomes is the key to charting a more successful course.
  3. Team Vision and Buy-In: A great culture and an engaged team are catalysts for success. Ensure that your team comprehends the bigger picture and how they contribute to it. Without team buy-in, achieving the jackpot becomes an elusive dream. Unleash the magic within your team by fostering a shared vision and a sense of purpose.
  4. Evaluation of Measurement and Reporting Systems: Measurement is the cornerstone of improvement. If you cannot measure it, you cannot boost it. Evaluate the accuracy and usefulness of your measurement tools. Your decisions are only as sound as the information they are based on. Ensure that your reporting systems provide the insights needed to navigate towards success.
  5. Identifying Vulnerabilities: What keeps you awake at night? Identifying your business’s vulnerabilities is the first step towards super-hero level improvement. Whether it’s an industry shake-up, new regulations, weak systems, or cash flow challenges, acknowledging weaknesses empowers you to address them head-on. Turning vulnerabilities into strengths is a hallmark of resilient and successful business.

Conclusion: Skipping the crucial step of defining your business’s starting point is akin to sailing without a compass. Be honest, identify weaknesses, and take proactive steps to improve. In the words of Chris Grosser, seize the opportunity to create success. Need assistance in navigating this critical step? Reach out to us by phone or email – we are here to guide you on your journey to building a better business. Do not skip this step; your business’s success depends on it!

Webinar: Getting ready for Year-End

11:00, Wednesday, February 14, 2024 

Join us for insights on the importance of year-end financial preparation for businesses.

As a business owner, efficient year-end preparation is crucial to save time and effort.

We’ll provide a checklist and guide you through the process for a smooth preparation, ensuring you don’t overpay in taxes. Learn about the significance of maintaining an updated Xero file and discover handy tips for organizing receipts and invoices.

On Wednesday, 14th February at 11:00, we are hosting a 60-minute complimentary webinar where you’ll:

  • Learn the importance of preparing for year-end
  • Receive a checklist to work from
  • Know how to organise your documents
  • and more…

REGISTER HERE: https://us02web.zoom.us/webinar/register/WN_4NMnceHwQ3y_RZOz6WyScw

Building a Better Business – Step 2

Written by Bronwyn Pilkinton / BBus, PTBA

“Live as if you were to die tomorrow. Learn as if you were to live forever.” – Mahatma Ghandi

Embrace Change and Embrace Learning

Isn’t it wild how much there is out there for us to discover? The world is full of opportunities to learn, especially with all the digital information available at our fingertips. You can’t really dodge learning something new!

Think about how kids soak up everything at five years old. They’re all about diving headfirst into the sea of possibilities and soaking it up like little sponges. So why do we grown-ups sometimes slam the brakes on learning new things?

I get that life is a whirlwind and finding a quiet moment to dive into a book seems impossible sometimes. But its worth making time for. Set yourself some goals, share them with someone will keep you on track.

Here’s five ways to soak up more knowledge and level up your business game:

  1. Read, read, read.
    Even if its just ten pages before bed. Start small, bump it up every week. Mix it up with fun reads and stuff that will help your business. Bonus: it might even make you go to sleep faster!
  2. Step away from your phone (unless you’re learning).
    Facebook isn’t exactly a learning hotspot, right? Try an eBook, audiobook, podcast, or a cool learning app instead.
  3. Sign up for courses or workshops.
    Online or in person, pick stuff that fires you up and helps your business.
  4. Have TV Time-Out
    Unless you’re watching TED talks or something super useful for learning, turn the TV off.
  5. Keep a learning journal.

Go back to it now and then. Remember, you really get something when you can teach it to someone else.

So what’s your learning game plan? Leadership, sales, writing? Figure out what you need and make time to learn it. Oh, and find someone to keep you accountable. Buddy up, share your discoveries. Trust me, once you start, you will want more!

Need a hand boosting your business? Not sure where to go to find the information on what you want to learn? We’ve got your back. Give us a call for a chat about your needs.

Building a Better Business

Written by Bronwyn Pilkinton / BBus, PTBA

“The first secret of getting what you want is knowing what you want”. — Arthur D Hlavaty

You can’t build a better business without defining what you want.

Define what success looks like to you.

What does a better business look like? Do you have a vision of
where you would like to be in 12 months?

Be clear about what you want from your business because your
business should be there to serve you, not the other way around.

To build the picture, answer these questions:

  1. Who do you need to be right now?

Stop having a mindset of “When I’ve got this, I will do that, and then
I will be this.”
Instead think about who you need to be right now and start acting
in a way that is consistent with that – do what you need to do to
get what you want to have.

  1. What do you love doing outside of work and at work?

Identify the things that you love doing the most. We all have jobs
that we don’t like doing that we procrastinate on. Work out which
tasks you could pass on to someone else to free up your time to do
the things you love.

  1. How many hours will you commit to the things you love doing?

Write down how many hours a week you are going to spend doing
the things you love doing. Commit to doing this – block the time
out on your calendar and tell someone so they can hold you
accountable. Putting aside time to do the things you love doing in
life is a great way to start taking back control of your life.

  1. What holidays do you want to have?

Write down where you want to go and when you would like to go.
Be specific so the image in cemented in your mind. Then block out
the time on your calendar now.

  1. How much income do you need for this new life?

Write down a figure. Don’t worry about how you are going to
achieve it right now, just write it down.
You now have your own personal plan for what you want to get out
of your business.
Make it visible to remind yourself and start working towards it now.

The average person spends 40,000 hours at work during their
lifetime and life is too short to be stuck doing something you hate.
Make the most of your time and do something you love doing.

If you would like help getting your vision out of your head down
on paper or keeping accountable to your vision, give us a call to find out how we can help.

The importance of Shopping local & giving Feedback!

Angela Brown – Director / ACMA, PTB

The idea of shopping local often takes a back seat to the convenience and accessibility offered by large corporations and online retailers, however, supporting local businesses and utilising testimonials and Google reviews can have a significant impact on both the community and individual consumers by:

  • Boosting the Local Economy – by supporting local business, we can help nurture a vibrant community and ensure its long-term prosperity. Local businesses offer a personalised service and a sense of connection
  • Shopping locally can have positive environmental impacts as local businesses often source their products locally, reducing the need for long-distance transportation and thereby minimising carbon emissions. Moreover, small businesses are more likely to adopt eco-friendly practices such as sustainable sourcing, reduced packaging, and waste management.
  • Harnessing Testimonials and Reviews: Endorsements play critical role in the local community. By sharing their positive experiences through testimonials and reviews, satisfied customers become fans! Positive feedback from satisfied customers can help establish trust and credibility, especially for those who may be unfamiliar with the business or reluctant to try something new. Testimonials and reviews act as powerful word-of-mouth marketing tools and provide the business with valuable feedback for continuous improvemet.

So, shop local and don’t forget to give Google reviews!

Cash is not profit and vice versa

Bronwyn Pilkinton – Director / BBus, PTBA

Your business was set up to make money and that means you
need to understand the difference between profit and cash
flow.


Net profit is what you have left after you have deducted all your
business expenses from your income. You can improve your net
profit only by changing the things that affect your income and
expenses.

For example:

  • You come to an arrangement with your suppliers to get
    stock cheaper – or you reduce the amount of inventory that
    you have on hand.
  • Your staff get to know your customers better, they learn
    more about what they do and don’t like – and that
    generates more business for you.
  • You roster your staff differently so that you are able to run
    your business more efficiently.

Cash flow comes from various sources. However, it also
covers operating expenses, tax, buying new equipment, debt
repayments and distributions to you as an owner.
Having a profitable business does not necessarily mean that
you have good cash flow.
And a business with good cash flow is not always profitable.
Your business can’t survive without cash.

The following things are essential for business success:

  1. Protect your cash position by knowing what it is. Have a
    cash flow statement and keep it up to date.
  2. Create a cash buffer as an insurance against unexpected
    difficulties.
  3. Protect your cash position against revenue shocks, by
    keeping a balance equivalent to at least two months of
    operating expenses.
  4. Be realistic with your revenue expectations. Take action
    now if it looks like sales are not going to get you to your
    breakeven point.
  5. Credit check your customers up front to reduce the risk of
    not being paid. Make sure you follow up with clear payment
    terms agreed in writing.
  6. Every dollar you spend reduces your cash reserves. The
    best way to protect your cash is to create a budget for the
    spend you know you need – and stick to it.

If you would like help with understanding your business cash
flow, give us a call.

The importance of Shopping local & giving Feedback!

Angela Brown – Director / ACMA, PTB

The idea of shopping local often takes a back seat to the convenience and accessibility offered by large corporations and online retailers, however, supporting local businesses and utilising testimonials and Google reviews can have a significant impact on both the community and individual consumers by:

  • Boosting the Local Economy – by supporting local business, we can help nurture a vibrant community and ensure its long-term prosperity. Local businesses offer a personalised service and a sense of connection
  • Shopping locally can have positive environmental impacts as local businesses often source their products locally, reducing the need for long-distance transportation and thereby minimising carbon emissions. Moreover, small businesses are more likely to adopt eco-friendly practices such as sustainable sourcing, reduced packaging, and waste management.
  • Harnessing Testimonials and Reviews: Endorsements play critical role in the local community. By sharing their positive experiences through testimonials and reviews, satisfied customers become fans! Positive feedback from satisfied customers can help establish trust and credibility, especially for those who may be unfamiliar with the business or reluctant to try something new. Testimonials and reviews act as powerful word-of-mouth marketing tools and provide the business with valuable feedback for continuous improvemet.

So, shop local and don’t forget to give Google reviews!

Embracing Continuous Improvement for Small Business Success

Aimee Christensen – Head Bookkeeper & App Advisor

I recently revisited a classic business book, “The Toyota Way” by Jeffrey K Liker, and was reminded of the powerful principles that have propelled Toyota to global leadership, especially during economic challenges. Toyota’s journey into Lean Manufacturing, which involves eliminating wasteful practices, enhancing quality, and boosting efficiency, holds valuable lessons for small business owners seeking to thrive in a competitive landscape.

At the heart of “The Toyota Way” lies a key concept: continuous improvement. This principle can revolutionize your business operations without the need for massive overhauls. Let’s break down how Toyota’s approach to continuous improvement, or “Kaizen,” can benefit your small business.

Firstly, Toyota places a strong emphasis on respecting and involving employees at all levels. In your business, engaging your team in the improvement process can lead to valuable insights and enhanced morale.

Another vital aspect is mistake-proofing, known as Poka-Yoke. This means preventing errors and defects before they occur, reducing costly mistakes, and improving customer satisfaction. Simple changes can save your business time and resources.

Visual management tools, make it easier to track progress and identify areas for improvement. Going to the work area yourself, as Toyota encourages through Gemba walks, helps you understand processes firsthand and empowers your team.

Collaborating closely with suppliers, like Toyota does, can lead to a more streamlined supply chain and cost savings.

Now, let’s apply the practical problem-solving technique from “The Toyota Way” to your business:

  1. Start by grasping the situation. Identify a specific issue, like a high rate of returned product, and quantify it. This forms your baseline.
  2. Set targets for improvement, such as reducing returned product by a certain percentage. Make these targets challenging yet achievable.
  3. Dig deep to find the root cause of the problem and why it’s happening.
  4. Investigate the root cause by asking “Why” multiple times. This reveals the underlying issues. For instance, why are returns high? Because a part is breaking. Why? Because it’s not installed correctly. Why? Because employees lack proper training.
  5. Implement countermeasures at the root cause level to address the core issues.
  6. Evaluate whether these countermeasures meet your improvement targets. If not, investigate further.
  7. Standardize the new, improved process across your workflows, ensuring everyone understands and follows it.

Incorporating these principles into your small business can lead to gradual but significant improvements over time. By embracing continuous improvement, you’ll foster a culture of innovation and efficiency that can propel your business to new heights.