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Want more money, more time or less stress?

We believe our clients all deserve the three freedoms: Financial Freedom; Time Freedom; and Mind Freedom. In other words, more money and time to spend on important things outside of their business, along with less stress. Is your business stifling your freedom?Being in business is tough. At times, you might be worried about whether you’ll have enough cash in the bank to pay your team and suppliers. Perhaps you’re working 60-hours a week just to stay on top of things. Or, maybe the stress of ...

Getting your bookkeeping ready for a digital future

Keeping up-to-date records of your business transactions isn't the most glamorous part of being an business owner, that’s for sure. But, in reality, having accurate and up-to-date bookkeeping is actually one of the core ways to keep your finances (and your business) under control.Digital bookkeeping is the future of your financeThe digital age has revolutionised the way many business owners carry out their bookkeeping. From digital accounting to real-time data, the modern bookkeeper is now equ...

Our Risk Management Meeting

Risk is a part of business life, with every decision carrying some degree of risk; whether financial, legal, or reputational. With economic uncertainty comes increased risk and increased stress. The best protection for your business comes from identifying, assessing, and managing risk.We can help you do this. Proactivity trumps reactivity, so the more time spent planning and preparing, the more we can minimise the potential impact of risks materialising.Our Risk Management Meeting helps you make...

Requesting payment of overdue accounts especially in an economic slowdown

Cash has always been king or queen as we say, but it’s even more important during times of economic slowdown. The slower the economy, the less cash is available in businesses, and the more likely it will be for some customers to be unable to pay.To protect your business and minimise the risk to your cashflow, follow these six steps to help ensure you get paid. 1. You must continue to enforce your Terms of Trade, however, your approach must change.Do not adjust your expectation to receive ...

How Important is Cost Management?

Although cost management is crucial to any company's growth, it is still neglected especially when your are not fully aware of it's benefits.The knowledge and monitoring of the financial resources spent in business activity are essential not only to control cash flow, but also to identify unnecessary expenses.When was the last time you reviewed the Terms of Trade for your clients?  Also, do you know what your Terms of Trade are with your Suppliers and have you re-negotiated these lately?&nb...

Let's Reflect and Reset

No matter what happens in 2023, there are always peaks throughout the year. Spend time reflecting on the year that was and resetting for 2023… what goals will you be smashing?The last few years have taken a toll on everyone. We keep hoping for improvement and, while most of us had the occasional great peaks, things just haven’t returned to normal.Take time to reflect on last year. Re-frame your focus to identify the opportunities for learning, the successes, and the possibilities for this y...

New Year, New Goals

So, have you set your goals for 2023?...It's the end of the second week of work for us for 2023, and I've been thinking...How many of us have set a goal and let it slip?How many made a new year's resolution that we forgot about a week later?How many wanted to start their business, make improvements, but just couldn't make the time?I'm guessing a lot. Why? Because it happens every year. - Hence the term New Year Goals! The truth is, setting new habits and changing your life isn't easy. It's ...

Redefining success

For those of us in business, it’s important to redefine our plan and goals that ensure the business delivers our definition of success. The natural extension, for those with team members, is to revise what the business needs to deliver to the team. Personal successYour definition of personal success may be different to what it was before the world was turned upside down by a global pandemic. For example, wanting to be able to travel the world, regularly upgrade the car, and enjoy frequent...

Lets improve your year-end processes and plan for 2023

Welcome to 2023, are you ready for the year-end, and have you done your homework when it comes to planning your business journey for 2023 and beyond?Let's take a look at the key ways to tie up your year-end and start the new year with a clear strategy to drive your business forward.Making your 2023 business journey that little bit easierThe past couple of years have not been easy for most business owners. Cashflow has been tight, costs have been steadily rising and the marketplace is ever-more c...

Christmas - Presents, Parties & Bonuses

Its Christmas time. The season for office parties, generosity and spending way too much on presents. To make the post-holiday season hangover a little less shocking, here are a few of our key tips on parties, presents and bonuses that you need to be aware of. The IRD is never too far away from any act of employer generosity with their entertainment, FBT or PAYE rules.Paying a Christmas BonusOne of the easiest ways to reward your employees, no matter the time of year, is with a discretionary cash...

Happy Christmas

We wish you a very happy Christmas and well deserved end-of-year break from The Team at Beyond Your Numbers.  It has been another challenging year for our clients. We hope you will be able to take some time at Christmas to connect with family and friends to recharge and relax. We are grateful for the opportunity to work with you and be a part of your continued prosperity.  We look forward to working with you in 2023. Our office will be closed from Midday Friday 23rd December 2022 ...

How Healthy Is Your Business?

Your vehicle needs and oil change, a wash every now and then and a new battery every few years so you get a service. Just like you take your car to the mechanic to keep it running smoothly, you need to perform regular checkups on your business health as well. It's not just about performance, it is about safety.Most business owners are extremely busy, so without regular financial check-ups they can easily lose control and become susceptible to financial problems. With this in mind we can be th...

How to Find Your Why in Business

When it comes to doing work that is meaningful, fulfilling, and purposeful, you need one thing above anything else: You need to find your “why.” The concept of “finding your why” became popular with Simon Sinek’s book and Ted Talk, “Start With Why.” is a good place to start. In a nutshell, your why is your purpose or the reason behind what you do. Start With your Why and work back to What you do. Think of your why as your personal mission statement. It’s a brief, one-se...

Discover your business’s untapped potential

When focusing on sales growth, your existing customers are your greatest asset. Many businesses focus on enticing new customers instead of encouraging their existing customers (who already know, trust and like them) to spend more, more often. The probability of selling to existing customers is 60-70%, whereas the likelihood of selling to a new customer is only 5-20%. The opportunity with your existing customers is huge, so why not focus some more attention here instead of prioritising chasing ...

Create a business plan - Here's how

‘Fail to plan, plan to fail’, as the saying goes. If you're going to create an effective, successful and profitable business, you need to create a solid strategic plan. Your business plan is the route map that defines your goals, explains your strategy and gives real direction to the everyday running of the company. So what should you include in your plan? 5 key elements to include in your business plan To create a truly robust and meaningful plan: Outline your vision – explain WHY yo...

Grow your numbers - Improving your margins

Measuring your sales and margins provides insight into which parts of your business are performing well and which ones need improvement. With improved margins, you don’t have to generate as many sales to get the same profit. Better still, lift your margins and achieve higher sales; you’ll get even more on your bottom line! A couple of strategies to lift your margins: 1. Set targets and budgets for team members and jobs, and share these with your team.Have brief weekly meetings to celebrate...

Holiday pay sorted?

Working out what an employee gets paid for taking a day off on annual holidays will depend partly on what they have earned in the previous 12 months because they must be paid for holidays at these average weekly earnings if they exceed the employee’s ordinary weekly pay as at the beginning of the holiday. Find out more about how to calculate payment rates for holidays and leave at Employment New Zealand, or using Wolters Kluwer's New Zealand Workforce Manager. Remember, Christmas and New Yea...

How to improve your year-end processes and plan for 2023

We're well into the final quarter of the year, with 2023 just a few months around the corner. But are you ready for the year-end? And have you done your homework when it comes to planning your business journey for 2023 and beyond? Let's take a look at the key ways to tie up your year-end and start the new year with a clear strategy to drive your business forward. Making your 2023 business journey that little bit easier The past couple of years have not been easy for the average small business...

Have you got a strategy for a financially stress-free holiday period?

Holiday breaks are a chance to recharge for the year ahead especially after the year we have had. We look forward to warmer weather and finally setting up an out-of-office email for the break. However, for business owners, this time is a stressful without careful cash-flow planning. Even if you do continue to operate through the holiday season, your customers' financial behaviour may not remain the same. The strategies and tips shared below are generalised, however, we are here if you need to ...

Profit vs Cash

1. Sales.Profit increases when you increase sales; cash increases when you collect the money from customers. To increase both your profit and cash from sales: Delight your customers Generate more leads and referrals Convert a higher number of quotes or proposals Increase transaction frequency Increase transaction value 2. Invoicing.Profit increases when you send an invoice to a customer; cash increases when you collect the invoiced amount. To increase both your profit and cash: Set clear Term...

Profit vs Cashflow

As a business owner, that’s one of your key financial aims – to make enough sales, with a big enough margin, to generate profit from your business enterprise.But how does profit differ from cashflow? And why is cash queen or king?To really understand the difference between generating profit and managing cashflow, we need to look at what both these terms mean. Being in control of your profit and cashflow is an invaluable business skill.Let’s take a look at the differences:What is profit?&nb...

What is the Difference Between Holiday Pay and Annual Leave?

In New Zealand, the terms “Holiday Pay” and “Annual Leave” refer to two different things. The following applies for all types of employees except Casuals who are having their Holiday Pay 8% paid out with every pay. Annual Leave is what an employee is entitled to after working for 12 months. The 4 weeks Annual Leave gets added in one lump after 12 months of employment, and then every 12 months after that. So, until an employee has worked for 12 months there is no Annual Leave. Annual...

Christmas gifts for your customers and team

Christmas is nearly here, and it’s a great time to let your customers and team members know how much you appreciate them. But after another unsettled year – it’s not easy to know how much to spend or whether to throw a party. Gifts, cards and donations The traditional professional Christmas gift tends to be food-related: hams; hampers; bottles of wine or spirits. Those can be ordered online and sent out, although it’s best to avoid anything that will spoil considering current delivery ...

Parties and Presents - and Tax!

Are you planning a Christmas event for your clients? Is gift-giving on your to-do list? Take a minute to refresh yourself on how much is deductible as a business-related expense. Presents Are you thinking of gifts for clients, business associates or team members? If gifts consist of food or drink, you can only claim 50% of the expense as a tax deduction. If gift baskets or hampers contain some food or drink and some other goodies, the food or drink items are 50% deductible, but other gift it...

Want more money, more time or less stress?

We believe our clients all deserve the three freedoms: Financial Freedom; Time Freedom; and Mind Freedom. In other words, more money and time to spend on important things outside of their business, along with less stress. Is your business stifling your freedom? Being in business is tough. At times, you might be worried about whether you’ll have enough cash in the bank to pay your team and suppliers. Perhaps you’re working 80-hours a week just to stay on top of things. Or, maybe the stress o...