Why did you start in business? Tips for 2013

dare to be different

5  Business Tips for 2013

By Peter Morgan Business Development Advisor

1.    Customer Focus

In business it’s really very easy to lose sight of what really matters. Sure there’s a host of tax planning you can do and strategic advice you can take on board and implement for 2013, but if I had only one tip for this list it would be to read this book; http://www.michaelleboeuf.com/howto.htm  and then give us a call at Munro Accountants to assist with implementation of customer focused measures in your business.

2.    Cashflow Management

By far the biggest cause of small company failure is cashflow related. It’s not sales, or profit, or one off events. Yes, they all impact on cash flow and are important, but the actual process of measuring and monitoring your cashflow helps you to manage it – and to foresee problems. Banks are far more willing to lend to businesses maintaining regular cashflow forecasts. Let us help you with that too.
3. Pre year-end Tax Planning

At Munro we are currently taking our clients through a pre year-end tax planning process. We won’t be recommending inappropriate expenditure to save a tax dollar, our service is designed around your business and personal objectives. Identifying opportunities to reduce your tax bill for FY2013, enabling you to retain more of your wealth for a stronger business in FY2014. Book here theteam@munro.com.au

4.    Embrace Technology

The technological advances available to the business world are almost impossible to keep up with. There are almost certainly better, more efficient ways of running your business than you are currently aware of. Set aside some time to see what areas of your business might benefit by utilising new machinery, hardware or software. Cloud based applications are proliferating at the moment and have very low entry cost. If you  want to improve your bookkeeping contact us about Xero.

5.    Remember…..

Why you started in business. Revisit those goals. Use that as motivation for implementing the above to help you get out of bed every morning and keep on the road towards achieving your business objectives.

© Munro Accountants 2013


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