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Claiming a Wage Subsidy for New Employees

Financial incentives of up to $10,000 for employers Claiming a Wage Subsidy for New Employees - Complete Accounting Services

What is a wage subsidy?

A wage subsidy is a financial incentive of up to $10,000 (GST inclusive) to help your business hire new staff.

Employment services providers will make the payments to you over six months and you can negotiate how often you receive them.

Talk to your employment services provider about a kickstart payment. You can receive 40 per cent of the total wage subsidy amount:

  1. four weeks after hiring a new employee,
  2. you meet all eligibility requirements
  3. and the job remains ongoing.

Indigenous Australians have immediate access to a wage subsidy, from commencement with an employment services provider, as long as all eligibility requirements are met.

What financial incentives are available?

  • Restart – up to $10,000 for employees 50 years of age and over.
  • Indigenous Australians – up to $10,000 on commencement with an employment services provider.
  • Youth Bonus – between $6,500 to $10,000 for employees 15 to 29 years of age.
  • Parents – up to $6,500 for employees who are a principal carer parent.
  • Long Term Unemployed – up to $6,500 for employees registered with an employment services provider for a minimum of 12 months.

All wage subsidies are GST inclusive.

Is my business eligible?

Your business is eligible for a wage subsidy if it:

  • has a valid Australian Business Number.
  • has not previously received a wage subsidy for the same employee.
  • is not an Australian, state or territory government agency.

What types of jobs can I offer?

Jobs can be full time, part time or casual. They need to be:

  • an average of 20 hours per week over the six month period of the wage subsidy agreement ongoing.
  • work that complies with employment standards for the position (for example is suitable work that pays as a minimum the national award wage).

Apprenticeships and traineeships are also eligible to attract a wage subsidy.

The job you offer cannot:

  • displace an existing employee
  • be commission based, subcontracting or self-employment
  • be work for an immediate family member.

Who can I hire?

Your new employee must be registered with either:

  • Jobactive
  • Transition to Work
  • ParentsNext (Intensive Stream only)
  • Disability Employment Services (Restart only), or
  • Community Development Programme (Restart only).

Restart only: If your new employee is not registered with an employment services provider then he/she must register with a Jobactive provider as a volunteer for you to get a wage subsidy.

Other requirements may apply based on individual circumstances. Your employment services provider will check these requirements before recommending a candidate – all at no cost to you.

How does your business manage a wage subsidy?

You can sign and manage agreements online or through the free Jobactive Employer App available from iTunes and Google Play.

You can claim payments online and the payments (including the kickstart option) go directly into your nominated bank account.

How does your business apply?

Contact your employment services provider to arrange for a wage subsidy agreement within 12 weeks (84 days) of your new employee’s start date to apply for a wage subsidy.

Find Out More:

The Australian Government has a fact sheet available which you can download from here.

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Shopkins marketing lessons for small business

Shopkins marketing lessons for small business Shopkins marketing lessons for small business

During a TV commercial break I channel flicked and found an old episode on Gruen [link to Youtube of Target market episode on Shopkins], the segments name was Target market and the topic of discussion Shopkins.  For those who have no idea about Shopkins, on the surface they are miniature figures of grocery items.

Shopkins are a phenomenal marketing masterclass waiting to be taught.

Let me explain why this is true.

 

Target market

The Shopkins marketing focuses on the Target market of children aged 4 – 10 years old.  Everything about the branding and promotion of the product is meticulously focuses on appealing to the target market.

  • Colours
  • Music
  • Products

In Shopkins advertising are all chosen and designed with 4 – 10 year old children in mind.

 

Marketing strategies the owners of Shopkins employ to make them an amazing success

Tap into something that has genuine appeal to your target audience, in this case cute, colourful items that allow the child to feel like they are grocery shopping like Mum or Dad;

 

Create a craze or  fad with your target audience by releasing a large number of Shopkins  to collect;

Release the product for a limited time to fuel the frenzy and scarcity.

Shopkins creates two important things

  1. The old Shopkins become rare and more collectible;
  2. Collectors are encouraged to buy the next release to keep up with their friends and continue to be a part of the craze.

 

To increase the scarcity of the product further, the makers have created 227 ultra-rare Shopkins.

Shopkins have distinguishing characteristics like being gold in colour, glitter or choc frosted finish.

 

Gemma Stone, the rarest Shopkin of them all

In a stroke of marketing genius,  in 2015 Gemma Stone sold for $21,500!

To find out  the full story about Gemma Stone please click below

https://money.cnn.com/2015/12/08/smallbusiness/shopkins-gemma-stone/index.html

Once the target market is established, additional products are created to encourage collectors further.

There are Shopkins playsets, TV shows, t-shirts, live stage shows and even a toothbrush.

 

Pricing the product

The entry price Season 10 Shopkins sales at Target for $3.  The pricing of this product allows its target audience to buy their first Shopkins with their own pocket money.  Imagine the excitement and joy a little child experiences when they hand over their own money to buy something they really want.  Now imagine the same child being happy with just the one small plastic figurine.  I don’t think so!  The child will want to buy their figurine a friend, perhaps a playset to put the figurine in and then when they see the stage show advertised on TV, they will ask Mum or Dad to go along.  That $3 initial purchase has probably cost Mum and Dad tens, hundreds or even thousands of dollars, depending how deep the child wants to dive into the product universe.

 

What if the household has more than one child aged between 4 -10; your product universe has another person to engage with.  As a parent of twin 8 year olds and a 10 year old, I can tell you that all children will want their own figurines, playset and t shirt.  Sibling rivalries spark a nice amount of increased purchasing, especially if one child receives a rare Shopkin and the other doesn’t.

 

How these lessons relate to your business

When  small Australian companies can start off selling small plastic figurines turning this into a $600 million product empire with a global following of loyal customers, why wouldn’t your business want to use the same strategies?

 

Shopkins marketing strategies summary

Having Identified your Target audience;

  • Find out the target markets likes dislikes, budget, product and services desires;
  • Create a product or service that genuinely appeals to you audience on a personal level;
  • Build in product obsolesce to drive demand;
  • Think of a way to introduce Scarcity to drive demand for your product or service;
  • Cultivate  communities passionate about your products and services;
  • Create opportunities for your target market to buy new products or services on a regular basis;
  • Try the Base model / offering to let the audience try at a low entry cost;
  • Build complementary products and services that help  collectors engage  with your offering;
  • Offer an ultra-premium product or service, with an ultra-premium price.

To read other innovative marketing content on our website please check out these articles

Business lessons learnt from Build a Bear 

WOW article 

 

The team at Complete Accounting would love to help you market your product or service more effectively; you may  be wondering how an Accounting firm can help your business with marketing.  We can help by sharing awesome content like this article and by offering an introduction to experts in the field.

 

Check out our Referral partner’s page here for our featured marketing partner.  To help prospective clients and customers find your business, we can help by making an introduction to a Signage and design expert.

 

 

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How to SETUP a Business Facebook Page.

How to Setup a Business Facebook Page.

Complete Accounting has been in business for 10 years and we did not have a Business Facebook page. Therefore we thought this was the perfect opportunity to set one up.

The Steps we took to Setup our Business Page.

  1. Under your personal Facebook Profile click Pages.  (If you don’t have a personal profile click here to create one).
  2. Click on create page.
  3. Enter details for the page, for example the company name and also the URL.
  4. Next add profile and cover pictures.
  5. Add content e.g phone number, address.
  6. Follow the selections made in the images below to optimize the page settings.  Optimized page settings prevents problems such as constantly receiving messages intended for your business in your private inbox.
    • How to setup a business facebook page
    • How to setup a business facebook page
    • How to setup a business facebook page
  7.  To add a second person as Admin simply:
    • Go to settings
    • Page roles
    • Under Assign a New Page Role type in a name the box that wish to be an admin.
    • Click the arrows next to the name and click Admin.
    • Finally click Add, yourself and the new person can now view the page with admin rights.

 

Adding an article

Now your business page is setup, the next step is to add content e.g an article. Here are the steps detailing how to do this.

  1. Click the box that says Create Post
  2. Type in a short description about your article
  3. Enter the article details.
  4. Click post and your article will now be visible.

How to maximize the visitors who view your page

The more people that view your page, the more opportunities your page will generate.  Therefore you should follow these steps to take your page and the article to the next level.

  1. The next step is to boost your article to promote your page.
  2. To boost an article click Promote and select a time frame you wish to boost it for. This requires payment, which will come out of your selected credit card or bank account.
  3. During the selected time you can click on Ad Center to view statistics about the boosted article.
  4. Once the selected time has ended you can view the overall results achieved by the boosted article.

 

Complete Accounting’s first Facebook post

Since setting up the Complete Accounting Facebook page we have posted an article and promoted the article by boosting it.  Outlined below are the results of our first article.

The article chosen for the first post was one that had been previously  published on the Complete Accounting website.  We chose this article because it had previously achieved high levels of interest.

The Statistics

Our initial spend was $90 for 10 days. By doing this boost we reached 7,718 people and 51 confirmed individuals went on to view our website. To put this in prospective, in 2018 the average Pay Per Click for an Accounting firm was $4.20.

These results had our IT Technician amazed. As the statistics were higher than he had seen in a long time for a promoted Facebook post. Importantly, the page visitors were clicking on the link which took them to our website.  (The Green line represents this in the graph below).

The grey line represents  how many people who viewed the Complete Accounting website in November / December 2017 compared to the blue line which is November/ December 2018.  In conclusion a dramatic jump in the traffic to our website has been achieved by adding an article to our Facebook page and boosting it .

How to SETUP a Business Facebook Page.

 

If this all sounds too complicated, or you would just like some help to get it right, please contact us .

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How you can Get Focus on the things that matter to your business

Get Focus

How to get Get Focus on the things that matter to your business

Focus separates those who get stuff done from those who don’t.  Far too often I meet brilliant people who own a business. Unfortunately, many of them lack focus and cannot achieve the greatness they deserve. If you are one of those people I want to help you.

Focusing on the right aspects of your business can make life a lot easier and also more fun. By lacking focus you are doomed to remain in a loop of mediocre results.

 

What should have your focus?

As the business owner you can no longer simply be the technician,there are many other tasks that need your attention. The five tasks that require your focus are;

  1. Managing your team.
  2. Follow up on incomplete work and Bring in new jobs.
  3. Plan and track the performance of the business.
  4. Create and implement systems and procedures to make tasks easier.
  5. Learn new stuff to help grow the business

 

Building your team.

If you refer to our previous article about delegation you can catch up on the reasons why I strongly believe you need to delegate.

Get someone else doing the bookkeeping and you can focus on drafting your business plan. If someone else is posting articles to your website you could be attending a professional development day about marketing your business.

The core group of team members you will need to grow a successful business are:

  • An Accountant that you can trust and who wants to help your business to succeed.
  • A Bookkeeper to handle the financial data entry, payroll, debtors and creditors.
  • A Solicitor to deal with contract, employee and property law stuff.
  • An I.T person that knows hardware, software and websites.
  • Administration to keep paper work in order and undertake data entry.
  • Workers (most important)

Some of the team you will need may be employees and others external experts, it is up to you to decide on the best mix for your business. If you’re not sure where to start take a look at our Referral Partners page  All the businesses listed have already been vetted by Complete Accounting so you can be rest assured these guys know what they are doing.

 

Follow up on incomplete work

Make sure not to allow missing details and queries to slow the progress and completion of the client’s job.  Create a communication channel for your team to provide all queries and missing information requests.  As a part of the job review process go through the list provided to clear obvious queries and then request the remaining items from the client.

 

Bring in New Work

The days of putting your sign out the front and waiting for the clients and customers to roll in are over. As a business owner it is your responsibility to source new work for your business. Ways to market include;

  • Attending business networking functions,
  • Following up on prospects until they buy,
  • Working with referral partners to develop a joint offering to a group of prospects,
  • Writing useful articles (like this one) to post on your website, to attract ideal clients.

 

The marketing activity will generate a pipeline of prospects, clients and advocates for the business. In theory producing greater cashflow and reduced stress when it comes to paying the bills.

A business that generates cashflow over and above its operating needs creates options for the owner. This cashflow could:

  • reinvested to fund business growth.
  • retained to protect the business in times of shortfall or emergency.
  • used to pay dividends to the owner, as thanks for all their hard work.

Plan and track the performance of your business.

Benjamin Franklin once said:

“ failing to plan is planning to failure”

Focusing on planning and tracking your business success is vital.

The business plan is your map to the destination you want your business to go. The fun part of this process is you’re in the driving seat, deciding how you are going to get to the destination.

Want to get cracking on your Business plan?

Where do you start?

Complete Accounting  have developed helpful resources  to get you started. All you have to do is enter your details below and the resources will be sent out.

Having a plan is just the first step your focus needs to be applied to; the next two steps are implementing the plan and tracking performance.

Implementing the plan

Implementing the business plan requires setting smaller goals and milestones that will lead to the overall plan being achieved.  To allow you to focus on the five things that matter, make sure that you delegate as much of the plan implementation to the right team members as possible.  Give the team member;

  • An outline of the task.
  • Outcome or Achievable Goal.
  • Time frame required to achieve the outcome

 

Track performance

How do you know if the business is heading towards successfully achieving its goals?  You need to regularly check the plan.  During this step review the goals listed in the plan against the progress achieved, meet with the team member you have delegated tasks to and discuss progress.  During the meeting identify any blocks stopping achievement of the task and work through possible solutions.  Do not give the team member the answer, provide them help to come up with an answer.

If the feedback you are receiving suggests that the goal isn’t clear enough or is no longer appropriate, adjust it or change it all together.  Remember, business plans are never set in stone; it’s a living document that will require changes to reach the desired outcomes.

 

Create systems and procedures to make tasks easier.

You don’t actual have a business unless you can provide a consistently great outcome for your client or customer.  A prospective buyer of your business will pay more for a business that they can walk into and start operating.  The way to address both of these points is to spend some time creating the systems and procedures that will help the business to run without you.  An added advantage of taking the time to write up business systems and procedures is you improve the ability to delegate within the business.

Quality control

The easiest way to lose a client or customer is to not deliver on what you said you were going to do.  This could mean the job isn’t up to standard, the order is incorrect or it took too long to achieve the desired result.  As the business owner the buck stops with you.

Create templates of documents and worksheets that are regularly used, this will improve the speed and accuracy of job preparation.  Prepare a checklist that your team will go through before they hand the job over for final review.  This checklist will  list the mission critical items required to achieve a successful outcome.  The business needs to put in place processes to check the job before the client or customer receives the final output.  A final review by a senior team member will help pick up any errors or missed items.

Payment

In a perfect world the business would do the work for the client and then the client would happily pay for the work.  Unfortunately for most businesses payment happens after the invoice goes out.  The business therefore needs systems and procedures to make sure the debtors pay.  An example of the process to ensure payment looks like:

  1. Invoice the job on a timely basis;
  2. Follow up after the invoice terms have expired;
  3. If necessary setup a payment arrangement;
  4. Receive payment;
  5. Thank client for payment.

Each part of the process needs someone delegated to it and standard scripting prepared.  As always delegate a task to the best person for the job.

 

Learn new stuff to help focus and grow the business

Someone once told me:

  “a child today has more knowledge available to them than a 50 year old did 10 years ago.”

So it makes sense that you should prioritise some of your time towards learning new stuff to grow your business.  This means scheduling regular professional development that takes you out of the business to go and learn from a paid expert.  Paying for knowledge will make you more likely to attend and focus on what is being taught.

It’s great that you have attended and learned new stuff, but for your business to really benefit where ever possible you should share the knowledge with the rest of the team.  You could share the key takeaways from the presentation; a better way to do something in the business or a new service or product that you heard about.  To ensure that the new knowledge is acted upon create an action plan with your team and have someone be accountable for implementation.

Having read this article, you should understand the five tasks that require your focus. You can begin to use them as a template for running your day.  At the start of the day, check through your diary for tasks that don’t meet the template and where possible delegate them to someone else.

By regaining your business owner focus the business will receive the best value from your time and you will be building a business to be proud of.

 

 

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Housework : The Secret Weapon of Business Owners

Housework : The Secret Weapon of Business Owners. Housework: The Secret Weapon of Business Owners - Complete Accounting Services

Attention small business owners.

Are important business tasks not being completed because you run out of time?  Do you have a list of housework to do that never seems to get any shorter?  Do these scenarios sound familiar to you?  If your answer is yes to either of these questions then this article is for you!

I am a small business owner who runs a business from home. You may wonder how I get work and housework done?  The answer is that my business and my home life run well because one learns from the other.

I regularly learn lessons around the house that I later apply in the business. In this article I would like share some tips and strategies which will allow your housework duties to strengthen your business.

Housework: In the kitchen.

The kitchen is not only a place to make food or wash dishes it is a multitasking training ground. Why wait separately wait for the kettle to boil or the toast to pop up.  Try turning on the kettle, pop down the toast and put some dishes away while waiting for the other gadgets to do their work.

After you have enjoyed your toast and hot chocolate and you have clean crockery to eat it off you can now turn your attention to your office.  Here is how to apply the kitchen multitasking in the office;

The key take away here is to group activities that are assisted by electronic devices with activities requiring low level focus.
Imagine how much extra time you could save in your day if you used these simple strategies everyday.

Housework: In the Laundry.

Unless you want to live in a nudist colony you are going to have to find time in your week to wash dry and put away clothes for you and  probably everyone else in the house. The divide and conquer strategy works best for me here and it works like this:

  • Put on a load of washing at least every 2 days; don’t leave it until the weekend otherwise this task becomes very big and can get out of hand.
  • Be smart about how you group the washing, socks and underwear are a pain to hang out ( especially small children’s ones). If you have one available use a dryer for these items.
  • If you hang out the big stuff first you will achieve a quick win that will motivate you to finish the rest of this housework.
  • Reward yourself for the successful completion of the task.

Save yourself heaps of time when bringing in the washing, use one basket for per bedroom. This strategy keeps washing in order and reduces extra folding time.

If you live with others recruit them to help put the washing away. Like all great leaders negotiate with your helper a deal that will motivate them do the task with minimal anger, resistance or pain.

By now you are thinking great the washing is now under control, but how does this translate to my business?

My response extremely well!

Here’s how:

  • If a project is big look into breaking it up to chunks,
  • Next identify who is needed to get the job done,
  • Then explain the benefits to your staff of the completed project if necessary negotiate a reward for prompt completion.

If you break up your work flow over the entire week the tasks to be completed will become easier to manage and delegate.

Wet socks and underwear aren’t the only items that can be grouped to make efficiency gains. What about grouping the task that a business owner should be doing and grouping the tasks to delegate to the rest of your team.

Quick wins are also important in business, they build momentum and push the team towards goal achievement.

Business goals become real when you link them to a reward or change. How will your business be better if you achieve your goal, what is the reward/benefit the business owner gets for a successfully achieving the goal?

The night time routine: Potential battle ground or nice way to enjoy the evening with the kids.

You have made it through your busy day and now your significant other turns to you and says its your turn to get the kids washed, dressed and into bed tonight. To some, those words send you into a cold sweat worse than waiting for the Proctologist. Never fear I will share with you my fool proof way to get through this task in a calm non drowning way. Note these steps work for my 7 and 9 year old’s, please consider the age of your children before implementing these steps.

Step 1. Get the attention of your children by removing them from the television or technology.
Step 2. Explain to your cherubs what is going to happen. Offer a reward for compliance with your requests, possible rewards may include:

  • They get to stay up an extra 15 minutes.
  • Or you will read them their favourite book.

Step 3. Run a bath for one child, once bath is ready get the second child in the shower,

Do this for two reasons:

  1. To utilise your time as effectively as possible
  2. If children are separated they cause less fights and are more focused on what they are doing.

Step 4. Out of bath or shower and into their waiting pyjamas.

Step 5. Give a big hug and implement reward.

These steps should lead to a much more pleasant night time routine, why don’t you give it  a go!

Now the kids are calm dressed and ready for bed we can show you how to use the lesson to improve your business.

Its all about using the night time routine approach, by which I mean give your employee the jobs she/he can do at least 80% as well as you to do. While you work on a completely different job which is either business growing or higher value then the job you delegated.

The result will be two jobs get done and you will be very happy, much like the feeling you experienced when the kids were clean dressed and in bed.

So next time your beautiful spouse asks you for help with the housework remember; they aren’t just asking for your help. They are giving you strategies to grow your business.

At Complete Accounting, we have other articles to help you grow your business – if this article was helpful, you may want to read our Fun and Easy Ways To Increase Your Sales one.

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STP survival guide for Employers

STP (Single Touch Payroll) survival guide for EmployersSTP survival guide for Employers - Complete Accounting Services

So you have heard your Payroll department muttering something about the headaches Single Touch Payroll (STP) is causing them, but you have no idea what they are talking about.

This article will walk you through the key points that you need to know about how this big change is going to affect the way you operate your businesses.

Download our Single Touch Payroll (STP) survival guide for Employers - Complete Accounting Services

Download our Single Touch Payroll (STP) survival guide for Employers as a PDF

What is Single Touch Payroll (S.T.P)?

Click Below to watch the video on Single Touch Payroll from the Australian Taxation Office.

How is it different from the previous payroll system?

Under the old system

Traditionally, company payroll can be calculated on a:

  • weekly
  • fortnightly
  • or monthly basis

The business reports their Total Gross Wages and PAYG Withholding at least every quarter to the Australian Taxation office on their Business Activity Statement (BAS).

Superannuation obligations for each employee are reported and paid via a clearing house on at least a quarterly basis.

At the end of the year each employee is provided with a PAYG payment summary and the business sends the ATO a copy of each PAYG payment summary issued.

Under Single Touch Payroll

Each time you pay your employees, you will report to the Australian Taxation Office, via your  (Hopefully newly implemented) STP software.

The payroll and the Superannuation contribution details are reported in the one processing session.

No PAYG payment summary is issued to each employee

Once all the employee’s payroll details have been submitted via the STP software, a finalisation declaration is completed in the software to say all required information has been submitted.

What do I need to do?

Panic. (Read On….)

By when do I need to be ready?

Employers with 20 or more employees will start reporting to the Tax office from the 1st July 2018.

Employers with 19 or less employees will start reporting to the tax office from the 1st July 2019.

Helpful tip

To determine your STP commencement date do a head count of all employees as at the 1st April 2018.

 

How to tell your employees what is going on?

Before a significant change like Single Touch Payroll occurs, it’s a really good idea to explain to your employees what is about to happen and what changes to expect.  The two big changes that all employees need to be aware of are:

  1. Their personal details may be submitted to a third party STP payroll software provider.
  2. Once STP starts, the employee will not receive PAYG payment summaries at the end of the year.

By explaining these changes to your employees early you will be able to address any concerns that your employees have and reduce the number of questions received about the payroll changes.

Checklist to make sure you are ready and Single Touch Payroll compliant

  • Complete a head count (this determines when STP starts for you)
  • Contact your payroll software provider and make sure that your software is ready for Single Touch Payroll
  • Speak to your employees about how the STP changes will affect them
  • Organise STP training for your Payroll staff
  • Take a deep breath hoping knowing that you are ready for Single Touch Payroll

Do You Have concerns about your Single Touch Payroll compliance?

If you are in the process of transitioning to STP but need more time contact the ATO and ask about their deferral process.

If this is the first time you have heard of Single Touch Payroll.  Your payroll structure may require dramatic changes. Please contact our office for help.

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Why pets are good for business.

Let Complete Accounting show you why pets are good for business. Why Pets are Good For Your Business - Complete Accounting Services

Some of us are cat people others are dog people. Some are bunny people, some like fish. We even have a client that has a turtle as a pet. What we can all agree on is that having pets in our lives makes them better for it.

So why then do we restrict the joy that pets bring only to us at home. In this article I will give you some tips on how to bring furry, feathered and scaly friends into the other half of your world.

Best of all how they will help your business too!

Pets as ice breakers

Are you as sick and tired as I am of always introducing your self the same way at networking events?

Who you are? Where you are from? What do you do?

Why not try this:

Hi my name is Ben, do you have a furry, feathered or scaly friend at home?

This kind of question will not provide a simple yes/no response. Straight away you will get them either talking about their cat, dog, bird or fish. Or they will ask you sorry what do you mean? You can then respond with do you have any pets at home.

Why do we care if they have pets at home? Two reasons;

  1. We work with people we know, like and trust. In finding out more about the person in front of you, your opportunity to connect with them grows.
  2. You have engaged their interest past the opportunity questions. If they remember you they are more likely to respond to your most correspondence, be that phone call for a meeting or email requesting they introduce you to someone they know on LinkedIn.

Indoor pets are cheaper than stress leave.

Indoor pets like a cat or dog can be tiny furry stress relievers. When a deadline looms and the stress is building, nothing can feel better than my cat wandering into the office, plonking itself down on the desk next to me and demanding I pay attention to her and give her a pat. This simple act of a quick pat & scratch can be just what is needed to rest to focus and improve the thinking required to solve the problem.

Animals know when someone isn’t feeling right and are great at putting a smile on a stressed out persons face. Our cat has put many smiles on clients faces and they have left our office feeling a little better than they entered.

Original tasty thank you presents.

I couldn’t write an article about pets without mentioning our feathered friends. We are fortunate enough to have space for chickens & ducks at home. One of the best thank you presents we have been able to provide our clients referral partners and suppliers is to offer a half dozen fresh chicken or duck eggs.

While this  may sound like a strange gift to give, I have found  that this simple gesture is great at unlocking not only a happy recipient, it also unlocks fond memories. Quite a few times when  I have given our free range eggs to our clients, they have recalled stories of  the old days  when their family had chooks while they were growing up.

When you are engaging your clients or referral partner on an emotional level like a childhood memory or even a reminder of how good a decent free range egg taste you will have taped into a deeper level of connection that will be hard to forget.

As an added bonus you have also created another opportunity to engage with the recipient. You could touch base to find out how they enjoyed the egg or ask then how they used the eggs. The additional contact will increase the likelihood of them remembering you when a need for your services comes up.

People aren’t the only bodies that like to socialise.

Even though I am a cat person, it would be remiss of me not to mention some tips for the dog people out there.

I love the independence of cats, they get fed, get let out during the day and they come back inside at tea time. Dogs on the other hand want to get out and about and sniff each others butts. Why not make efficient use of this butt sniffing time by doing some networking as well.

  • What about inviting another dog person client to the park? In doing so, the dogs can socialise while you talk with your client about their goals.
  • If your client tells you that their dog is a handful, you could provide them with a referral to a dog trainer or obedience school. Solving someone’s problem even if the problem doesn’t directly relate to your business the client will remember you.
  • Capture the details that a client is a dog person in your client relationship management You can then use these details to help you to.
    • Promote services
    • Provide interesting content
    • Offer personalised gifts.

As Michael Gambon said in the movie Layer Cake

Being good at business is all about being a good middle man.

The challenge for small business is being front of mind for a prospective client when needing your services or product.

In following some or all of the tips I have listed in this article you and business will:

  • Differentiate from other businesses that aren’t following these tips.
  • Create a deeper connection, both emotionally and personally with your client.
  • You may even turn a Dog person into a Cat (or Bunny) person.

Most of all the joy that your pets bring you will help your business to be remembered and liked.

Can your business benefit from pets.

Yes!

Pets are one way your business can benefit from a relaxed atmosphere. If you would like more tips then contact us at Complete Accounting and we will be happy to help.

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A Beginners guide to Bitcoin – Introduction

 A beginners guide to Bitcoin All you need to know about Bitcoin - Complete Accounting

The Bitcoin system enables payments without using a bank or payment gateway like PayPal. Bitcoins aren’t printed, like dollars or euros, they’re produced by computers all around the world using free software.

It was the first example of what we today call “cryptocurrencies“.

Bitcoins share characteristics of traditional currencies while adding stronger verification and validation.

Cryptocurrencies are a growing asset class.

Who created it?

A software developer going by the name of Satoshi Nakamoto proposed bitcoin in 2008.

The  developer’s idea was to produce a means of exchange, independent of a central authority, transferable in a secure and verifiable way.

The key characteristics are :

1 – Decentralization

There is no single institution that controls the network. It operates on an open network of decentralized computers spread around the world.

Transaction integrity is maintained by the transparency and distributed nature of the network.

2 – Limited supply

Fiat currencies (dollars, euros, yen, etc.) have an unlimited supply. Central banks can issue an unlimited amount, while attempting to manipulate their value relative to others.

A small number of new bitcoins generate every hour; and will do so at a diminishing rate until the current cap of 21 million coins is reached.

3 – Pseudonymity

Traditional electronic transactions consist of;

  • verification
  • legal compliance (anti-terrorism, regulatory)
  • transfer
  • receipt

Due to the decentralized network, users operate in semi-anonymity, as they do not need to identify themselves when buying or selling coins.

    Transactions consist of;

  • checking previous transactions to confirm that the sender has the necessary bitcoin. (request)
  • checking the authority to send them. (transfer)
  • ensuring everyone has an up-to-date copy of the entire blockchain. (commit)

The system does not need to know his or her identity. Users are identifiable by the address of their wallet.

 

 

4 – Divisibility

The smallest unit of a bitcoin is called a satoshi. It is one hundred millionth of a bitcoin (0.00000001). This could conceivably enable micro transactions that traditional electronic money cannot.

Further Reading about Bitcoin

If you would like to explore further Bitcoin opportunities please take a  look at our other article about trading bitcoins.

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The Power of Delegation

Delegation and why it is good for your business! Power of Delegation-by the creative minds at Complete Accounting

Delegation is such a hard thing for a lot of people to do. It involves a combination of things that many of us really struggle with.

  1. Confidence in the other person to do the job.
  2.  Getting over the D.I.Y attitude that those home improvement shows have instilled in us.
  3. And uncovering what other tasks you should be doing instead.

Time is a precious commodity.  Without delegation you will restrict the number of tasks you can complete within the 24 hour day. However, if you recruit others to help you, you can complete your tasks a lot quicker, increasing and maximizing your businesses’ productivity.

I delegate to people who I have trained, including employees, subcontractors and family members.  I also delegate to skilled professionals and trades.  For other great ways to unlock the hidden time in your day please refer to this article.

Confidence in others

I have the confidence to delegate to employees, subcontractors and family because I have developed systems and procedures that ensures they will do the task correctly.  Employees and subcontractors also have access to a manual containing steps and examples of the common tasks, and have the manual to refer back to if they require.

The training of family is a little more subtle. Systems are put in place to help them to do the task, and more often than not the system needs to be backed up by reward or punishment. For example, I don’t want dirty clothes all over the kids bedroom floor, so I provide them with a dirty clothes basket in the room, which must be emptied at least once a week. If the task is completed the reward is that the cat doesn’t wee on their clothes and stink out their room. If the task isn’t completed you can guess what happens.

DIY attitude reset

It’s a great feeling when you have successfully put together an IKEA flat-pack furniture item, and there are two bolts left. But let’s think about what the real cost is to you and your loved ones.

1. If you are a professional or trade business owner, spending three hours during a weekday completing the task, will cost you up to $660.  This was time you didn’t spend with family or friends. Furthermore, you could be spending this time doing something fun, educational and something which better suits your skill-sets.

2. For $25 per hour a lovely person from Airtasker.com would have completed the task and all of the bolts would have been used to properly assemble the item.

3. If frustration gets the better of you and you damage the product, IKEA won’t take it back. Consequently, you have wasted three hours of your life and you will have to buy a replacement.

You can also apply these same lessons in a business environment. If someone else is more qualified, cheaper and faster, give them the task to complete.

What to do instead?

You have made the decision to delegate. Now, what should you do with the extra time created? My answer is to do one of the following things;

1. A task that will help you and/or your business to grow.
2. A task that you have been putting off.
3. A task that will make a family member happy.
4. A task that suits your level of skill and pay grade.
5. A task that will help you meet someone new or consolidate an existing relationship

A great example of effective delegation is this article. I made the decision not to spend my Saturday morning washing, rinsing and sealing my driveway. Instead, by hiring a concrete sealing business to come out and do the task, I freed up this time for engaging in other activities.  In addition, the concrete sealer has the skill, equipment and time to do the task properly, and has responsibility to rectify any errors or mistakes.

I looked out at the window at the Concrete Sealer and thought about what I could be doing with the time now available. The answer – writing an article for my business website about delegation.

Writing this article was a task that covered the following points;

  • A task that helps my business
  • A task I have put off
  • An activity better suited to my skill-level (I love writing and I think I am quite good at it)
  • A task from which I will hopefully meet you the reader from one day.

Here at Complete Accounting we provide a range of business services.  To discover new and innovative ways to improve your business please contact us by entering you details below.

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Unlocking hidden time with R.E.D.

How to have a R.E.D morning

We all have 24 hours in the day, so why are small business owners constantly telling me they don’t have enough time?
Wouldn’t it be great if you could unlock some of the lost and hidden time in your day?
Unlocking the hidden time in your day with R.E.D. - by the creative minds at Complete Accounting

Before I discovered the R.E.D morning, I was a person who was always saying that I had no time for reading or exercise. But those three letters changed everything.

What does R.E.D mean and why is it so transforming?

The acronym R.E.D. stands for;

Reading
Exercise
Doing

Just stop and think for a moment how you could improve your day if you completed these tasks before 12 noon every-day.

You could read a book or an article (like this one) that fundamentally changes your daily routine for the better.

By making time to exercise on a regular basis you are literally extending the length and quality of your life. Couple this with exercising with family or friends and you get the additional bonus of improving the relationships in your life.

The Doing part of an R.E.D. morning is about acting on an item that has been hanging around on your To Do list. For example: reviewing your life Insurance needs.

Huge benefits will be unlocked by using R.E.D. to improve your time management including;

  • Clearing blocks in a project that are holding you back from success
  • Creating momentum for the rest of your day, so that completing the next items on your list will occur faster and better
  • Completion of your milestones which leads to completion of your goals.

Happiness is the pursuit and completion of a worthwhile goal. So not only will you be more productive, you are going to be happier as well. Your happiness will be contagious and spread to others, and their happiness to another and another. I know that the above snowball of happiness is a little bit exaggerated. But I believe that positive small actions can lead to dramatic long-term change and success.

What I would like you to do is to follow the R.E.D. approach for one month. At the end of one month, please send me a note using our Contact Us page. In that note, please explain how the R.E.D. approach has changed your life. If you do this, you will receive a special gift as a thank you for your action. This gift will help you and your business continue to grow.

At Complete Accounting, we have other articles to help you grow your business – if this article was helpful you may want to read our Housework: The Secret Weapon of Business Owners one.

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