How are your new year resolutions going – A distant memory?

I didn’t make any resolutions this year, but I have made some choices. When a you make a choice, it is different – its about making that choice happen! Achieving any kind of growth, personally or professionally requires a commitment – and that can take many forms:

• Investing in people, products and technology
• Investment in marketing
• Making time to execute your marketing and sales plans
• Embracing new ideas
• Hiring someone to help you achieve your growth

Growth doesn’t happen by sitting back and waiting for it to fall on your doorstep – it happens only by doing. Here are 5 ideas I havbe found work for me:

1. Commit X hours a week towards your goal and block it in your calendar
2. Create a way of measuring your effectiveness in achieving your goals. If it is not working, review and revise your approach.
3. Write out how you will achieve your goals
4. Keep your commitment posted where you can see it every day
5. Persevere – you will have good weeks and bad weeks – continually review and find out what is working.

Mike Harding is a Chartered Accountant who specialises in Owner Managed Businesses on Sydney’s Northern Beaches – although I can be persuaded to travel!

Call me on 0401 631 904

Do you have one good reason to start your own business right now? – How about 5 good reasons! We can all think of reasons why not to start up our new business venture, but lets focus on the reasons to start it during an economic downturn!

1. Everything is cheaper – IT Equipment, office or retail space!
2. You can hire more and better qualified staff – As the job market tightens up, there is a greater pool of workers to choose from.
3. People are looking to change suppliers – This is often the greatest advantage start-ups have in times of a downturn – Businesses will look to protect their own business and when times are tight, they will look at alternate suppliers not only for a better price, but for better service. This is where a Start Up businesses can succeed.
4. Business owenership offers a variety of tax benefits that aren’t available to employees
5. You can get great PR in quieter times – Start ups are fresh and offer something new!

And finally – If you’ve lost your job – you have to do something. But, you have got to want to do it and have a passion for it – otherwise you wont be a success!

If you are thinking of setting up in business, give Mike a call on 0401 631 904.

Do you remember your first customer? I think you do – its like you first girlfriend or boyfriend!

But, what about all the ones that follow – customers that is? All businesses, especially start up businesses need to have a method of collecting customer data. We all know how difficult it can be to allocate our time in a busy growing (or not growing) business, but remember the majority of your business will come from existing clients. Look after your clients and they will look after you!

We need to know what customers bought what product from us and when (do they need a new product or restock of consumables?). Keep in touch with your customers and show that you are interested. If you don’t, a competitor will be…

To keep track of who your customers are and what they are interested in, set up a CRM (customers relationships management) system. There is no excuse not to have one given the cost reductions in recent times. Consider a cloud based system that you can access wherever you are…and other staff can access at the same time. This ensures you are all working form the same data base.

Mike Harding

0401 631 904