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Most people think being amazing at what they do will lead to a widely successful business. And they're totally right! There's another level though. That's understanding the core fundamentals of business.
Time and time again, we see owners dealing with cashflows and staff problems. They're too busy and hardly ever take a break. The truth is, that their businesses don't make as much money as they should... because technically they're great at their job, but they don't know business.
That's where Convex Business School comes in. Find out more here.
Scenario Planning
How are you feeling these days? I know, it’s crazy out there. Elections, inflation, unemployment…you name it. It seems like nothing is certain anymore. And that makes it hard to plan for your business, right? You don’t know what’s going to happen next, so you just keep doing what you’ve always done. Hoping for the best, but preparing for the worst.
But, there is an alternate approach. A way to be ready for whatever comes your way. A way to have a clear vision of your future, and a strategy to get there. A way to be proactive, not reactive
eInvoicing
eInvoicing is sending invoices electronically between accounting systems. Instead of someone sending you a PDF of a bill to pay and you uploading it into Xero, eInvoicing takes the bill straight from their accounting system and into yours.
The good news is that if you use Xero, it's really simple to turn on. All you need to do is jump into the Bills to Pay menu, click on the three dots in the top right-hand corner and turn on eInvoicing. This does your registration and everything like that for you. Nice and easy.
End of Financial Year Checklist
With the new financial year approaching, you need to check your financial information and gather all documentation we’ll need to complete your accounts and get your tax returns filed. The sooner this is done, the sooner we can notify you of your tax position.
If your business is looking significantly different this financial year, talk to us so we can more accurately estimate provisional tax.
Minimum Wage - How it relates to Budgeting
Last week, I (Hamish) was in a meeting for around 45 minutes. Afterwards, I checked my phone and saw missed calls from seven different customers. For me that's unusual, so I started to wonder what was going on... I checked my texts, and it turns out people were freaking out about the increase in the NZ Minimum Wage.
Economic Uncertainty
We've got a bit of chaos coming up. Property prices, interest rates, inflation, tightening cash flow. Everything just feels a bit wobbly right now. And you cap that off going into the Christmas break, kind of wondering how you're going to get through and what business is going to look like next year.