There is a tendency in nature for apex species to get larger and larger. But there is a counterbalance where nature has a tendency of making larger species extinct quickly. This is also true in business: the bigger the business, the more fragile it becomes.
The theory of overdone strengths
The ecommerce explosion continues, but there's also an element of evolution. To take your ecommerce presence to the next level, take advantage of these emerging trends.
2019 is here! It’s a new year; not just for individuals, but for businesses and corporations alike. This is what makes the beginning of the year a great time to work something new in your business; a time to set goals.
Not everyone loves spring; however, the idea of a spring clean is well-embraced. It allows a house look new and clean. It also prevents the individual and entire family from suffering several diseases that come with having a dirty home.
If your home (which is only accessible to the few people you know) gets a spring clean so easily, your website (which is accessible to thousands of people) deserves a spring clean too
Remote work is no longer a privilege. It’s become the standard operating mode for at least 50% of the U.S. population. Virtual retreats are no longer attributed solely to progressive startups. Traditional employers are finally on-board and ready to propose a flexible work arrangement higher up the pipeline.
We’ve just rung in 2019. What can you do to get this new year off to a good start? Here are a dozen ideas. You may not need to implement all of them, so choose the ones that will help you the most—and get going!
Have you harnessed social listening?
As I peruse trends for 2019, I see a lot about listening on social. And I have to chuckle … how is this trendy or new?!
In any case, if part of your marketing strategy involves social media it should also involve social listening.
Here are four easy ways using listening on social media can inform your marketing strategy.
We check our phones about 85 times a day. Chances are, you’re reading this on one right now – or it won’t be long till you check it again. A staggering 70% of internet traffic now comes from mobile devices.
Falls from height (FFH) are the leading causes of serious and fatal injuries for construction workers. Almost all of these injuries and fatalities were preventable. There are many different factors that increase the risk of FFH injuries. Getting a understanding of these issues is key to preventing FFH injuries. As a result of identifying the types of hazards and learning how to safely address these hazards on your current jobs will allow you to get lower rates on General Liability Insurance and Workers Compensation Insurance.
For most of us the internet is an intrinsic part of our lives. We rely on it to get us where we are going, connect us to friends and family and answer all of our questions, no matter how banal. It has also quickly become an integral part of most businesses, enabling them to complete business transactions in mere minutes as well as connect to their customers and a global network.
Ten years ago, the accounting industry looked very different but new technology is evolving. Cloud-based software is becoming more prevalent everywhere you look; accountants have had to adapt their mode of operation. These changes to the industry will create so many opportunities for accountants. Yet, there will also be notable challenges to face with this level of change.
The cloud – what is it and why is it important? Like the name suggests, the idea of the cloud feels lofty and hard to grasp. Simply put, cloud computing is the practice of using a network hosted on the Internet, or “the cloud,” to store, manage, and process data. This means you won’t have to maintain or own any hosting equipment.
Christmas is here and more than anything, it’s usually referred to as the season of love. Love is expressed by giving, and many employers hope to express this love to their employees by giving gifts.
Business negotiation is a world of contradictions. You’ve got to be firm but flexible open and sharing, but a little cagey. There’s a lot to get your head around. But your state of mind might be the most important thing. Aim for a mutually beneficial outcome, and you’ll find the whole exercise more comfortable. Follow these five tips to prepare for your next negotiation.
When a customer asks you for a quote, they're giving you a golden opportunity. With the right response, you can close the deal quickly and win new business. Here's how to make the most of price quotes.
Offices used to be essential for most businesses. But mobile technology and new working practices mean that many small businesses don't need any office space. Here's what you need to know about having a mobile office.
The $20,000 instant asset write-off threshold has been extended to 30 June 2019. This means you can continue to claim the cost of new or second-hand assets that are less than the threshold of $20,000.
Construction is unlike any other business. Building projects can last for months or even years – and you might be both an employer and a contractor. So how do you learn the basics of construction accounting?
Successful businesses spend that little bit of extra time on record keeping and getting their tax right, including preparing and lodging business activity statements (BAS). Once set up and organised, you’ll save time in the long run.
Want to peek into the mind of your ideal customer and find out how they engage with social media video? How they are interacting with brands via video? How are they purchasing?
Take a seat, because in this post we break down exactly how customers are watching social media video and more importantly, how they are purchasing from video.
And it’s all based on data and research, so you can start using this intel now, to get results in your business.
Cloud computing got you perplexed? You’re not alone. Most of us talk about ‘the cloud’ without even realising what it really means. We’re clearing the air on cloud computing and how it can benefit your small business.
Offers for grants worth over $3.5 million will support 7 businesses to help launch their innovative products, processes and services into domestic and international markets.
The funding has been provided from the Accelerating Commercialisation element of the Entrepreneurs’ Programme.
We no longer need studies to tell us: Smartphones are almost everywhere. Most of the customers coming through your doors have a mobile device with them. And these devices aren’t always shoved in pockets or bags — shoppers are using them while they’re in store too.
Over 100 accounting/bookkeeping, marketplace and banking partners across Asia joined us in Brisbane this year to attend Xerocon, the most innovative conference for cloud leaders in Asia, Australia and New Zealand.
Clichés. Can’t live with them, can’t live without them. (See what just happened there—it’s that bad).
The most widespread, just-waiting-to-pop-out-at-you, cliché is a very short one, measuring just three words—time is money.
The homepage is the most important page of your business’s website. It is the virtual shop front to your business, providing your customers a first impression of what you have to offer. You only have seconds to grab your customer’s attention so it is key to make sure that they can find what they’re looking for quickly and easily.
Tax time is fast approaching—it’s important to do your homework and know exactly what tax deductions you can claim.
China-watching is mandatory for many people in business.
The world’s most-populous nation looms large on the global stage in politics, commerce and sport. Its 300 million aspiring middle class citizens – still a small part of the total population - are increasingly sophisticated in their consumer activities, travelling a lot more and further, and pursuing business interests on all continents and the South Pacific region.
Getting out of the cashflow trap for good: The first step is to admit your clients have a problem (with debtors)
This is the first article in a series of posts about Debtor Radar, a new debtor analysis and cash flow advisory tool for accountants from Debtor Daddy. If you’re an accountant you’ll be able to learn more here.
Our goal with Debtor Radar is simple: Help more small businesses solve the cash flow troubles caused by debtors.
Striking out on your own and starting a business is one of the hardest things you can do in your professional life, but the work isn’t over the second you open your shop. Once the business is up and running you constantly have to improve and optimize to stay ahead of the curve and, most importantly, to become — and stay — profitable.
Typically defined as: ‘the accomplishment of an aim or purpose.’ (1)
Success means a lot of different things to different people. Success may mean wealth, or it may mean happiness. It may mean fame, and for others it may mean power. But can revenue be a true predictor of success?
Retail stores have long been collecting basic details (i.e. name and email) on their customers. Now, with the help of some nifty retail cloud solutions, it’s possible to collect so much more.
Need to know when tax is due?
Outbound marketing: marketing that is based on outbound messages to potential customers, using media such as advertising, commercials and billboards.
Being aware of body language in your interactions with customers and colleagues can help you communicate more successfully. Reading others is important but it's also vital to be aware of when you might be sending out signals you don't intend to. For instance, before you've even said 'hello', do your clients perceive you as confident and open, with your head up and shoulders back? Or does your slouchy posture let them know you're not very sure of yourself and maybe they should be speaking with someone else?
How well do you know your market? Do all your customers just walk in off the street? Or do you carefully build up relationships over time so your customers know the full range of what you can offer them? If it's the latter, how do you first come to know them? There are lots of answers to this but they mostly boil down to: do you contact them or do they seek you out? And, once contact is made, how will you engage them?
Many people kick start the New Year with a myriad of resolutions, from keeping fit to losing weight or achieving financial goals. However, many of those resolutions fail to embody anything remotely close to working life. The first week back is usually a slow one; clearing out the inbox (usually spam as most other people were also on break) dusting off the keyboard and restocking the cupboard with fresh new stationery.
The last few years have seen a new wave breaking in the marketing world. You may be aware of it under different labels, but 'inbound marketing' is an umbrella term for the change.
Our New Year resolution was to completely renovate our Business Buddy website and we have done it.
Do you have situations where some employees will be on call during a public holiday? If so, they are usually entitled to a contractual on call payment as well as at least time and a half rates if they are called out. Whether or not they are also entitled to an alternative holiday depends on whether the public holiday falls on what would normally be a working day:
A way to solve Christmas cashflow issues
Are you planning a Christmas function for special clients and/or suppliers and business contacts? Be aware that this will come under the entertainment regime for purposes of tax deductibility. Any expenditure on food and drink that your business provides off your business premises will be 50% deductible. This extends to any incidental expenditure on things like hireage of crockery, glassware or utensils, waiting staff, and music or other entertainment provided for the function you're planning.
If a person receives directors’ fees, which are payable to the business he/she works for, the fee forms part of the taxable activity of that business and GST must be charged by the business. This includes a person who accepts a board position, offered to him/her as part of carrying out a taxable activity. The rule was effective from 30 June 2014. If the employer is exempt from the withholding regulation, E G it is a company, there is no need to deduct 33% withholding tax from the fee.
There’s a demand for temporary rental properties in Canterbury because of thousands of families needing accommodation while they wait for earthquake repairs on their homes. Some homeowners are meeting this need by offering furnished homes for short-term rental. If you rent out your own home, even for a short time, any income you receive is liable for income tax, so you must include it in your tax return.
If you give your employees benefits or perks you may need to pay fringe benefit tax (FBT) on the value of that benefit. FBT replaces the PAYE that you would deduct from the employee if you were to just give them cash instead. Common benefits that may attract FBT include:
When anyone is buying into an existing company, or setting up a new company with colleagues, friends or even family, it is essential to document how the relationship is going to work and set ground rules for what happens in the unfortunate event of a dispute.
Our entire team will be out of the office Thursday 27th and Friday 28th November at team training. Any deliveries can be made to Prestige Bike Shop downstairs.
Stuck for ideas? Think about different ways to market your business.
Mondayitis is not an option when the working week starts with a TV interview with the successful motivational speaker – Cath Vincent.
Make your team part of the solution in your cost control programme. Let them know keeping costs under control is a priority and how costs affect the business. Involve them in ongoing review and development of your systems for reducing waste and managing costs without compromising on quality. Their commitment to trimming business expenses will make all the difference. If the numbers are large enough, it might even be economical to introduce an incentive scheme based around identified savings. Here are some ideas you might use to start the conversation.
Cost management is not the most glamorous aspect of the business by any means. We know you'd much rather be laying plans to grow the business and secure more leads and opportunities. But keeping an eye on costs and tweaking as needed can help you free up your cashflow to do more of the exciting stuff.
Many of you will have now received your 2014 tax returns from us. If you have not signed and sent these back can you please do so before Christmas. We cant file these with IRD until they are signed.
When you market your business, product or service on Facebook, you have a number of different options. If you write a post and leave it at that, this post will only go as far as your organic reach (the total number of people who see your post through unpaid distribution). You can look at taking this a step further though and branch into paid advertising.
I am delighted to invite you to our seminar that’s especially designed for aspiring business owners and CEOs.
A raft of amendments to GST came through in June, clarifying grey areas and closing loopholes from some of the major changes of the last few years. In broad brush, these include:
After the government increased the minimum wage rates earlier this year, it made a further amendment to the Minimum Wage Order, issuing a new fortnightly rate. The fortnightly rate is $1,140 for adult employees and $912 for starting-out workers and trainees. If you’re an employer already fully compliant with minimum wage requirements and your employees’ hours don’t vary from week to week, stop reading here. For you, nothing has changed.
Do you provide low interest loans to employees? If so your FBT returns need to reflect the new interest rate of 6.13% for return periods from 1 July onwards. This is the FBT prescribed interest rate used to determine the fringe benefit value of low-interest loans to employees.
On 1 July, the rates for paid parental leave increased. If you're self-employed or an employee and eligible for paid parental leave, you may receive up to a maximum of $504.10 a week before tax. If you're self-employed and make a loss or earn less than the minimum wage, for at least 10 hours work a week, the payment is $142.50 each week before tax (equivalent to 10 hours each week at the current minimum wage rate).
Making payments to IRD – what’s changed
A new report by the Ministry of Business, Innovation and Employment looks at outcomes of key changes to employment law made in 2011 to see if they are working as intended.
When you're doing your market research, where are you drawing your data from?
The world of social media has come a long way in recent years and Facebook, in order to stay at the top of its game, has taken the phenomenon one step further. Offering strategic marketing solutions, paid advertising and even the option to sell retail online, Facebook has created a portal for businesses to get their name out in the marketplace with ease and in real-time.
When it comes to working efficiently, everyone has some idea of what works for them and what could work better. As a business owner, you can get stuck and find yourself working harder than anyone else, for longer hours, without seeing that next level of growth in your business. Here are some simple reminders to help you stay on task and get more done.
Do you look forward to networking events or would you rather tidy your sock drawer? For some people networking is a lot of fun while for others it's an ordeal. Yet it's a given that networking helps you put your business out there and keeps you in touch with leads and new ideas.
Devise a strategy for your Facebook page and keep it up. When you sit down and devise a plan you can also establish what your social media marketing voice might sound like. It can be consistent with your marketing in other media or be more tailored to a particular group. If you're concerned that keeping up a Facebook page on a regular basis is not feasible, elect someone from within your team to help out. Most employees see social media as 'fun' and are, more often than not, willing to participate.
Cost of sale and overheads affect your profit. Understanding how they inter-relate and keeping track of them can really have an impact on your business success.
For new businesses in that critical early period, cashflow is a vital part of staying afloat to establish and grow the business. Established businesses also know the importance of cashflow to help you keep everything running while you grow the business. If you can't reach your targets for income, reining in your costs can help give you a little extra head room to manage cashflow while you're planning your next move.
If social media sites are a concern, there are programs that can be easily installed on your computer to avoid such distractions. Turn off your cell phone if it means that text messages won’t deter you from the job at hand, and only check your phone when it’s break time. These rules would apply at work, so should also apply at home. Avoid particular rooms in the house that may entice you to start on a cleaning frenzy or a spot of DIY.
From 1 October 2014 you’ll need to make sure Inland Revenue receives your payment on or before the due date to avoid penalties and interest.
Be it your business partner, colleagues or boss - think about the people you should be respecting and, potentially, would be letting down by being lazy.
It would be oh so easy to slink from the bedroom to the home office space in your pajamas. But this is not a good idea on so many levels. You may have surprise visitors or be called to an appointment unexpectedly and it pays to be prepared. More importantly though, dressing appropriately can be motivating and will assist in putting you in the right frame of mind for the day ahead. You will be less likely to lie on the couch in your pencil skirt or suit pants.
If you were heading into an office environment each day, it’s most likely you’d make a list of the tasks that need to be achieved. The same rule should apply when you’re working from home. Do it the night before or even the morning of, but either way, establish some structure and stick to it. Ticking the items off will give you a sense of accomplishment and provide some direction and goals to ensure you stay on track.
The washing pile is getting higher, the dishwasher light is flashing and the cat is crying for another bowl of milk. Thoughts flick through your mind about the feasibility of doing some of the jobs now, leaving them until later or when exactly you might decide to knock off for the day. These, along with a long line of others, are just some of the temptations that lure you to procrastinate when working from home.
This one almost speaks for itself. Before posting anything, think about your social media marketing voice. What kind of character or persona are you trying to portray? What's the tone you intend to use? Be mindful of the language, whether it be playful, savvy or a tad more formal and ensure you always post with a purpose. Is your post to inform, entertain or sell?
Let your fans know you're there for them. By encouraging interaction and responding to this, you are providing access to your brand. Think about different ways your fans can interact with you whether this is through forums, or other social media platforms such as Twitter and Instagram. Perhaps look at running competitions - even if it's for a bottle of wine or a movie voucher. Each of these ideas will help you expand your organic reach and potentially gain a wider following. Everyone likes to win stuff! Don't be daunted by the idea of other forms of social media either. It's actually quite simple. Most programmes now are linked together in a way that allows you to simply tick a box to send the information update across various platforms. The initial setup only takes a few minutes and once you've done this, these updates can be sent directly from your website or blog. The added benefit is a larger organic reach and higher rankings in search engines.
There is no better way to build trust with your audience than to be open. By making your brand and team relatable by posting real photos, updates and information about what goes on in the company (within reason) you can truly gain trust with readers. This nurtures brand loyalty and familiarity, encouraging post likes and comments which promote your post and display it more frequently in Facebook feeds. Create an element of transparency by posting work outings, team events, birthday shouts or awards won. (A good photo would be a group of people out to a restaurant dinner or on a team building activity)
This is the total number of people who see your post through unpaid distribution, generally those who have chosen to follow or like your business page. But if they're not online at the time of your post, it may be missed altogether.
You may already be running a Facebook business page and if not, chances are you're thinking about it. Having a Facebook page for your business is a great way to maintain rapport with your clients, build a bigger audience and help raise awareness for your brand, product or service.
The paid parental leave (PPL) weekly maximum entitlement rate increased from $488.17 to $504.10 (before tax) from 1 July 2014. This rate applies to employees and self-employed workers who are entitled to receive the maximum PPL rate.
I am a taking a long planned holiday from 18 Sept - 11 October. I will be out of the office during this time but we have made sure that everything has been covered for when I am away.
The motor vehicle mileage rate is reviewed every year and the rate for 2014 will remain at 77 cents a kilometre for both petrol and diesel fuel vehicles. You can choose to use the actual costs rather than the mileage rate. If you do this, you must keep records to support any expenditure you claim. The mileage rate doesn’t apply to motorcycles.
We’re warning our clients of a very aggressive phone scam. Scammers are targeting our customers for money and threatening actions such as deportation and prison if they don’t pay.
From 1 October 2014, you’ll only be able to make cash or eftpos payments at Westpac counters. Westpac will no longer accept cheque payments, forms or returns.
• The Consumer Guarantees Act 1983 (“CGA”) contains implied consumer guarantees for goods and services but does not apply to a completed building. From 2015, this gap will be remedied by the Building Amendment Act 2013. It inserts a new Part 4A. It does not override the CGA (or the Fair Trading Act 1986) but enhances consumer rights and remedies in relation to residential building work.
The prescribed rate of interest used to calculate fringe benefit tax on low-interest, employment-related loans is 6.13%. This is an increase from the previous rate of 5.90% which applied from the quarter beginning 1 April 2011.
From 1 October 2014 taxpayers who post payments to IRD need to ensure that their payments are received by IRD on or before the due date to avoid late payment penalties and interest.
The Minister of Revenue announced on 3 July 2014 that the Government intends to introduce legislation to change the current tax pooling rules.
The Taxation (Annual Rates, Employee Allowances, and Remedial Matters) Act 2014 received Royal assent on 30 June 2014.