Your biggest asset and biggest headache: Staff

For all of my client’s staffing issues is one that is continually popping up. It doesn’t matter if I am talking to an electrician with one staff member to a fabricator with 10 staff or anyone in between staffing is a headache.

Getting and keeping staff is a huge issue and one I will keep for a blog post next week. today what I want to discuss around staffing is pay and entitlements.

I am seeing more and more issues with disgruntled staff causing havoc with their employer as the staff member hasn’t been paid correctly their wages and or entitlements. Through no fault of the overworked and stress small business they are missing crucial information and unknowingly paying staff incorrectly.

This can work in both ways, you over pay staff and wonder why there is no money in the bank or you underpay staff and realise down the track you need to find a bunch of cash to pay back your staff.

I am yet to come across a small business owner who is paying staff incorrectly because they chose too, I am however seeing an increase in small businesses paying staff wrong simply because they didn’t know any better.

Now this is not an exhaustive list, it is a guide to get you started and pointed in the right direction.

PayrollInformationMarch2017

Once you have contacted Fairwork you then need to make sure you have Xero (or your bookkeeping program) to match these pays and entitlements.

Not sure where to start? Feel free to book in a FREE 15 minute review HERE

Let Efficient Tradie help your sort out your bookkeeping

You have finally had enough and are ready to get help with your bookkeeping, well you have come to the right place.

Here at Efficient Tradie we specialise in working with Tradie’s to get their bookkeeping sorted out so you can build a business that actually makes you money without driving you into the ground.

Is that even possible?

Is generally the response I get.

Yes, it certainly is.

Really? How?

Is usually the next response I get.

You see at Efficient Tradie we love numbers, systems and processes.

We also love helping our Tradie clients set their business up so that they have more time to do the things they love.

We have found that our Tradie’s all have three main problems when it comes to their bookkeeping:

  • They have no time to get it done
  • They have no time to get it caught up
  • They have no time to find out how they can get themselves out of the mess of paperwork that seems to keep growing

Our love of numbers, systems and processes means all you have to do is decide you want to sort out your bookkeeping and get in contact with us and we can step you through the rest. We do all the heavy lifting and all you need to do is answer some questions.

Here at Efficient Tradie we ask a lot of questions as we want to find out about you and your business and what you want out of your business. We ask so many questions because we want to find easier and simpler ways for your business to run.

All we need to do is chat on the phone for about half an hour and that will give us all the information we need to get you started.

We do the rest.

Now of course you can do it all yourself, please make sure though if you chose this option you actually do do it.

We find though that those who decide to do it themselves fall in to two categories:

  • They decide to do it themselves but never do anything about actually starting
  • Those who do start but get an hour into it (if they are lucky) and go and do something else far more exciting for them and thus never get much further than the person who chose option 1.

Those who decide to team up with Efficient Tradie not only get their bookkeeping sorted out quicker, they also turn their cash flow which gives them more money in the bank sooner.

Book your phone call HERE or call Katie 0424151056 TODAY.

 

 

 

 

How do I get my bookkeeping sorted out?

First step it to decide you are going to get it sorted out once and for all.

I speak to many Tradie’s who have tried to ‘start’ and haven’t actually got to the stage where they ‘start’.

Talking about starting and actually starting are not the same.

If you have decided to start then read on.

If you have only kind of decided to start then maybe this isn’t for you now.

Second step is to decide:

  • Are you going to do it yourself?
  • Find an experienced bookkeeper who specialises in Tradie’s to do it for you?

If you have had enough of your bookkeeping and want it sorted out once and for all then contact Katie today 0424151056 to make an appointment to get started on this right away.

Now don’t chose option 2.1 which is decide to work with us here at Efficient Tradie but then never get around to calling Katie to discuss how we can help.

Call Katie now 0424151056 or email her at I’m Ready Now

How We Accidentally Created A Cult

This blog has been re-posted with permission from Glen Carlson and the team at www.keypersonofinfluence.com.au.

How We Accidentally Created A Cult

Just last week I was asked for the millionth time whether or not my business was a cult.
My answer has become YES, which tends to get funny looks.
So here’s the question: If people refer to your business as a CULT, is that a bad thing?
I don’t think so.

Firstly, let’s agree we’re not talking about evil death cults. We’re talking about the kind of vibe that gets thrown off when your clients are really enthusiastic about supporting what you do.
Take a look at brands like Harley Davidson. I mean, loads of their customers get tattoos of their logo down their leather clad arms. No one I know has KPI ink yet, but give us time…
GoPro has a cult following, so does Linux, Reddit, Apple (maybe less so now?), Alcoholics Anonymous… the list goes on.

We’re talking about groups of people so invested, they instinctively want to spread the message and ‘convert’ new users for you.

So I reverse engineered what I think we’ve done well.

Firstly, some context for those of you who are not in fact in the KPI cult. We run a 40 week business growth accelerator. We have over 2000 alumni in seven cities around the world. We’re the ninth fastest growing company in Australia, we’ve won a Guinness World Record and, our private forums are hyper engaged and for the most part, our clients are fans.

What gets people asking us, “ARE YOU A CULT?”

Here’s what I came up with, plus some #protips:

1. HAVE A COMPELLING VISION FOR YOUR CLIENTS
It’s one thing to have a company vision. It’s another to have a clear vision for your customer’s future. Our vision for our clients is that they become recognised and respected in their industry as Key People of Influence. In their future, they’re more visible, valuable and connected in their field. They’re highly paid, they love what they do and they give back in meaningful ways.

We want that for our clients more than anything, our entire business is about reverse engineering those exact outcomes.
Harley Davidson doesn’t sell boats because that wouldn’t deliver the vision Harley knows his customers have for themselves. GoPro isn’t moving into the digital SLR space for the same reason.

#Protip: Know, care and communicate the dream your customers fantasise about.

2. INVEST IN COMMUNITY
We spend a lot of time, money and energy in fostering community and connections amongst our Alumni. From fortnightly accountability group meetings to regular social gatherings to snow trips to sky-diving adventures and bridge climbs to Christmas parties to bonus VIP events – that’s just the stuff we do in the real world. Our private online community is also hyper engaged because we lean in. We make no direct profit from any of these activities. And yet, we grow through the good word of our clients.

#Protip: Stop reading right now and ask yourself and your team – What could you do that doesn’t cost the world, but would go a long way in fostering a sense of community between your customers?

3. SHARE AND DEFEND YOUR VALUES
Our leadership team is publically opinionated, and we’re not scared of taking a position one way or another. I publically expressed that our last Prime Minister was an idiot. Someone had a go at me, telling me that as the leader of a business I should keep my opinions to myself. Ha! Not likely. We’re not a theatre company trying to please an audience; we’re building a business that’s an authentic expression of who we are. Sometimes we (I) piss people off, but it also means everyone else knows where we stand. If they don’t align with those values, we encourage them to opt out.

#Protip:Tell the world what you think. Pick a fight with an ideology you oppose and encourage people who don’t like it to take a walk. They won’t like you (and you shouldn’t care), but those who agree with you will respect you for taking a stand.

4. NICHE
By definition, cults are made up of a small group of people who think differently than the majority.
If you’re trying to help everyone, you’ll end up helping no one. Harley Davidson isn’t for everyone. Nor is Reddit. At scale however, a cult becomes the culture.

#Protip: Niche. Pick a really specific demography, geography and psychographic and build something especially for them. If you’re an accountant, be an accountant for restaurateurs in the CBD or something equally specific and go crazy giving them what no other accountant can. Understanding.

5. HAVE A COMMON LANGUAGE
A culture is determined by the social norms, the ways of doing things and is underpinned by language. Acronyms like GSD and ATM are two terms that everyone in our community gets and uses all the time. So are sayings like ‘You get what you pitch for, and you’re always pitching’.

The goal of creating our own language wasn’t intended to create a cult, it was intended to create shortcuts for communicating ideas to accelerate growth and the flow of both ideas and opportunities from within the community.
Brands that are seen as cults always start off as the minority. It’s a micro-niche that grows because you have a community that believes in your vision and values.

#Protip: How can you embed jargon into your community in a way that serves them while creating a common language for your community?

That’s my best thinking on why we often get described as a cult. We’re hosting a Business Brand Accelerator with best practice on how to unlock more value from the experience, ideas and intellectual property that’s already in your business and create raving fans. Hope you can make it!

Be Brave.
Have Fun.
Make a DENT.

More Information:

KPI Blog: http://keypersonofinfluence.com/aff/au/?p=a3046&w=blog
Our upcoming Business Brand Accelerator: http://keypersonofinfluence.com/aff/au/?p=a3046&w=fof

Glen Carlson is the Co-Founder & MD of Dent Global – www.dent.global

Want to learn more?

KPI are running their accredited 8-hour Business Brand Accelerator event in Early 2017 with some of Australia’s most well respected entrepreneurs and industry leaders.

Sydney | 25th February
Brisbane | 11th March

As one of their event partners, KPI has offered our readers a 40% discount on the retail ticket price, with sale ticket prices starting from $87 for general admission.

Book your ticket to ‘One of the top personal branding conferences in the world’ – INC.com

Why should I even bother getting my bookkeeping sorted out?

You deserve to have a business which doesn’t constantly stress you out.

Imagine if you never had to think about if your BAS was lodged or if your PAYG had been paid or if your superannuation payments were up to date.

Imagine if you had your invoicing up to date and knew exactly who owed you money and when it was due.

Imagine if you had someone who could make those phone calls for you to chase up the money owed to you.

Imagine you had a clear idea about what your cash flow looked like for the month ahead.

How much less stressful would your business be?

How much more fun would your week be?

How much happier would you be?

At Efficient Tradie we specialise in working with Tradie’s to do all these things for them.

 

I hear time and time again from new clients that they ‘wished they sorted this out sooner’, or ‘why did I wait so long’ and this is why we do what we do here at Efficient Tradie.

We specialise in working with Tradie’s because you are great to work with and I love making a difference to not only your business and life but to your wife and kids for those that have them. (Plus I love car’s, boat’s, bike’s basically anything with a motor in it)

At Efficient Tradie we help you build a business which allows you to take a long weekend and extended holidays. We help you grow your business so that you can get off the tools and run the business instead of being ‘stuck’ in the business.

So even though the thought of getting your bookkeeping sorted out doesn’t sound like your idea of fun, once it is, you will wish you had done it sooner.

Ready to get this sorted out once and for all?

Contact Katie for a chat now 0424151056 or send an email today.

 

 

Is it even possible to get my bookkeeping sorted out?

Working for yourself seemed like a great idea at the time. It means you can pick and choose the days you work around you. You get the choice to work as hard as you like if you decide to and you get to choose what you spend your money on.

The problem is you never realised just how much paperwork is involved. Between Work Health and Safety requirements, licensing requirements and topped off with staffing issues, you are feed up with paperwork.

The thing is there is still the bookkeeping side of things to deal with too. Not only is there reporting requirements to the ATO such as BAS, PAYG and Superannuation there is also the general day to day receipts, invoices, bills to pay and invoices to send.

Tradie’s like most business owners are great at putting these things on the ‘I’ll get to it soon’ pile and the ‘I’ll get caught up before Christmas, after Christmas, before the financial year ends, ‘definatly in time for tax time’, and the cycle continues until you realise that you are a couple of ‘tax times’ behind.

If you haven’t already received letters from the ATO for being late, then they will definitely start arriving once you start becoming regularly late with lodging you BAS and tax.

So, how do we fix it?

First, you and only you have to decide you want to fix it. I mean everyone I talk to wants to fix it but you need to want to really fix it.

What does ‘fixing it’ look like?

There are two options:
1) Do It Yourself
2) Hire someone to do it for you

If you decide to Do It Yourself please make sure you do it and don’t just say you will do it.

If the DIY option doesn’t sound appealing then contact Katie at Efficient Tradie where we specialising in working with Tradie’s to get them out of this mess.

Bills, Bills, Bills

 

We are nearing the end of January and the cash flow is tight and the bills keep rolling in.

How do you get the bills paid on time and still have money left over for yourself?

It isn’t the most exciting answer but getting organised helps.

Here is a simple sheet which you can use to write down all your regular bills and expenses. You can also write the date of the month it is due. I use this sheet for myself and my clients. I also circle the renewal date in red so that you know when it is time to review that bill. Especially useful for bills such as insurance which you should your review each year.

This can be a 15 minute exercise.

If you would rather put a nail through your finger than sit down and write this out then feel free to contact Katie 0424151056 or via email katie@efficienttradie.com and we can either do it for you or with you.

Click Here to download your bills summary sheet.

Do you need help getting back on your feet?

This time of year is always a tuff time for Tradie’s and their cash flow.

Many job sites close over the Christmas/New Year period and just as many business ‘forget’ to pay their bills which means Tradie’s are often left short as all that work they did before Christmas won’t be paid until the businesses go back to work. Often this isn’t until mid to late January.

Then when the Tradie calls up to chase the invoice they are owed, they are given the runaround, ‘the accounts person is still on leave’, ‘that will be paid in the next payment run’ etc

Unfortunately I see too many Tradie’s and their families suffer because of this. For any small business cash flow can be a constant juggle and when Christmas/New Year period hits it often hits the hardest.

The problem is once you do finally get your invoices paid (in February if you are lucky) you are then playing catch up for what seems like eternity and before you know it Christmas is knocking on the door again and you promise yourself not to go through the same stress as the last. Unfortunately though if you haven’t done anything different to the past year the chances are you will have the same result.

How do you make it different to last year? How do you make sure you and your family aren’t stressed because your invoices for all your hard work weren’t paid on time?

Contact Katie today on 0424151056 for your FREE chat where we discuss your business and what you can do to make this a thing of the past rather than a regular occurrence.

Debt Collection: How to get your money in your bank account without the stress

Every business goes through a phase or phases where they have clients who are slow payers or clients who decide not to pay at all. It is stressful and puts a huge strain on you and your business.

So how can we save you having transactions declined when it isn’t your fault?

– Make sure your provide your clients with a written quote detailing what is included in the job and also what is excluded from your quoted price.

– Ensure you have the clients full details – Full Name, Address, Site Address, Contact Name (if different from the person paying the bill),contact numbers (mobile and landline) and email address.

– Don’t start the job before your client has accepted the quote either electronically or you have their signature on your quote.

– Did the client want extras/variations to the original quote? You must put these in writing and have the client sign of on these too.

– Do not proceed with any extras even if the client is in a hurry, without the client signing off on the extra work. This is the biggest area where Tradie’s get caught out.

– Complete the job. I know that sounds obvious but make sure you have completed the job so that the client has nothing to complain about.

– Invoice the client immediately or if that isn’t possible within 24 hours of finishing the job.

– If your client hasn’t paid by the due date get don’t wait to follow them up. Email or call them with a polite reminder.

– Most importantly keep calm through this entire process. Although it is frustrating you will not do yourself any favours by getting agro with your client.

By following these steps you can drastically reduce the number of clients that are slow or late payers. Not following them up will not make them pay any quicker. The squeaky wheel gets the oil.

If you don’t enjoy making these follow-up calls contact Katie at Efficient Tradie or call on 0424151056 and we can take over this process for you.

The Numbers Never Lie

Like it or not the numbers of your business never lie and it doesn’t matter how long you ignore them for, they still don’t lie.

Over 80% of small businesses fail in the first five years. I am sure you have all heard that stat numerous times and like my clients I am sure you have thought ‘thank goodness that’s not me’.

In my experience, working with Tradie’s helping them know their numbers the majority of these Tradie’s are very close to becoming this statistic.

Through long hours and exhausting week after week you are staying just above the failure line.

The good news is that it doesn’t have to be ‘normal’.

I love numbers, I always have. It is what I get excited about and could talk about all day long and that is why I have a bookkeeping and financial management company which helps Tradie’s who don’t share this passion of mine.

Imagine you are a Tradie who knew exactly who you owed money too, knew exactly who owed you money.

Imagine if you had money map showing you what your cash flow would loook like in the coming month.

Imagine knowing you could pay all your bills on time, pay your staff in full including their super and tax and knew you could even draw yourself a wage each week.

Imagine how much better sleep you could have.

Imagine how much more enjoyable working in your business would be.

Imagine how much more you would enjoy your weekends.

Imagine how much better a family life you would have.

There is only one thing you need to do…look at your numbers.

If that thought freaks you out completely then the second thing you need to do is find someone who loves the numbers and can step you through a solution.

At Efficient Tradie we have a 5 step process which takes you from confused, stressed and overwhelmed to relieved and relaxed.

  1. Map: Where are you now and where would you like to be?
  2. Measure: We use technology such as Xero and Receipt Bank just to name a few to help organise your numbers which allows us to be able to measure them easily
  3. Manage: Now all your numbers have been uploaded and are correct we can focus on making sure those who owe you money pay their bills on your cash flow so that you no longer have to shuffle bills
  4. Master: This step is where we help you master your money through education and training. Now we know we are the specialist in the money department and we don’t expect you to be but we do believe it is important for you to at least understand the basics
  5. Maintain: The final step to ensure your financial foundation remains solid over time is maintenance. Regularly reviewing and revising your business will ensure your financial foundations don’t erode over time without you knowing.

If you are ready to take a look at your numbers and just don’t have the courage to go it alone, contact Katie today on 0424151056 or via email katie@efficienttradie.com to book your free discovery consultation.