Virtual CFO Services
Small-medium businesses now have the opportunity to have their very own Virtual Chief Financial Officer which was previously only reserved for big corporates with deep pockets! Now every business can have a strategic partner who is actively involved and a vital part of your business. Most successful entrepreneurs and business owners have an accountability partner who meets with them regularly. No matter whom you are, where you’ve come from, or what you have achieved, a good mentor is an invaluable asset in business.
Tax & Compliance
Every business needs expert tax advice, the appropriate legal structures and tax minimisation strategies in place. No business owner should be paying more tax than they are required to, nor should they be spending hours on compliance. Implementing proven strategies and planning around your tax means more cash in your pocket now and in the future.
Cloud accounting allows you to really take control of the numbers in your business. If you are still using spreadsheets or desktop software to manage your accounts and invoicing, then you are doing things the long and difficult way. Not to mention, you are leaving money on the table. Xero, a cloud-based solution, has been dubbed ‘The Apple of Accounting’ as it has revolutionised this space by making your business numbers easier to understand. Looking to simplify? Speak with a member of our team now.
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The catalyst for this change was at a business & marketing masterclass I attended in Sydney a few years ago. I was at this 5 day intensive and on one of the nights, our homework was to write and publish an ebook on Amazon before rolling up the next morning. So I met this bloke Josh Smith on the first day and we decided to work together writing our ebook’s into the wee hours of the morning. He was championing ahead on his Mac and my laptop was overheating, it had this super loud fan that kept cutting in and out, it was hot to rest my hands on and the battery only lasted about an hour…Josh didn’t have to plug his Mac into any power all night. WTF!? Related posts: No related posts.
As a Virtual CFO, I work with businesses on what I like to call the Awesome 8. In this post I’ll be talking about Growth. I have decided to put together individual blogs for each of these 8 key areas so make sure you check them all out as they are released because I’m sharing with you exactly why each area is super important and how you can go about improving each one in your business. So let’s get into it. By growth, I am referring specifically to increasing the turnover or revenue of the business. Almost every business owner wants to increase their turnover but very few understand what really drives revenue. The first step is to determine what it is specifically that you want and why increasing your revenue will help you get there. Ask yourself these questions: Related posts: Do You Know The Number One Goal For All Small Businesses? 8 Key Steps To…
Most business owners cannot confidently answer this question as they are unsure whether all of their products or services are actually profitable. So what does that mean? Well regardless of whether you sell a product, or a service, or a bit of both, the question you need to ask is how is each item performing? For this to happen, you need to know your numbers. Because lets be honest, it makes sense to focus on the things that are profitable. So do you think it would be powerful to know the profitability of each item? In many cases, there is a product or service that is an absolute bottom dweller. You probably don’t even like this product or service and it is consuming a large amount of time and resources. Related posts: Why Cloud Computing Has Gone From an Optional Extra To a Must Have
So we all know that Xero is awesome, right!? Well among many things, there’s a cool function that you may not know about – tracking categories. They are used to review and compare different areas of your business and improve your reporting. This is powerful because you can now tag a range of items to a specific area. So when you run reports, it is everything mixed together into one. All of your revenue and expenses and asset and liabilities. Well what if you wanted that report to just show the revenue and expenses for a specific bricks and mortar store or perhaps for a specific department, or maybe even per product-line or service? Do you think that would be good to know? Now you can. Related posts: How To Easily Fix Reconciliation Mistakes In Xero How The New Xero Updates Will Empower Business Owners