Christmas Headaches, Who Needs Them? 4 steps to simplify your bookkeeping and have a more enjoyable New Year.

October already, where has the year gone?

With Christmas just around the corner this is the time that the work picks up for Tradie’s. All of a sudden everyone wants all those jobs finished ‘by Christmas’ and you are thankful that you will have some more cash for the festivities.

The problem I see is that Tradie’s ‘forget’ to sort out their bookkeeping and to not spend all that money and come January things start to become tight and by February you are using your credit card more, pulling money from your home loan or even worse, not paying bills on time.

This sets you up for a tough year as you are on the back foot right from the start.

So what can you do differently this quarter of the year to ensure you have a good start to the new year?

  1. Put money aside for your GST and don’t touch it. Yes you get an extra month to pay but if you don’t have it set aside as it comes in it’s unlikely you will have it come February’s due date.
  2. Make sure you pay your bills on time for this quarter. Don’t leave it till after Christmas.
  3. Put some extra money on your bills which you know will be coming in January and February to save being late.
  4. Set limits on how much you will spend on presents and outings and stick to it. Easier said than done I know. If doing this for everything is too much of a stretch then chose three and stick to those. Something is better than nothing.

If this sounds good in theory and you aren’t sure just how you could manage it for your business, contact Katie 0424151056 or book your 30 minute FREE review HERE to see how you can have an awesome New Year.

Are You Driving With Your Lights Off?

I recently read – Aussie Grit by Mark Webber.

As a lover of all things motor sport, Webber’s career was one of many race drivers that I have followed over the years. His Aussie attitude was certainly something that differentiates him from the usual Formula 1 drivers as did his exceptional driving skills which kept me interested in his career which spanned over 12 years at the elite level of F1.

There is something to be said for the determination that people have to reach their business goals. Whether they are sports people such as Mark Webber or the average Australian Business person trying to make a go of it, one thing I have learned is that those who are most successful over the longer term all have a plan.

A plan that involves not only point A being where the are today and point B being the ultimate destination but a detailed plan of how they are going to get there and at what point along the way they will review and adjust the plan so that when they hit a road bump and that is a certainty the alternatives have already been thought of and managed.

Mark Webber was no exception, over 20 years ago his partner Ann had a plan which they both worked towards and would take him to his ultimate destination – becoming a Formula 1 driver.

During my research of speaking to over 100 Tradie’s about their businesses, I have found that over 95% of them don’t have a financial plan.

THERE THREE MAINS PROBLEMS:

Not enough money
Not enough time
Not enough resources/contacts
The vicious circle of money, time and resources – we don’t have the time, to concentrate on making more money and without more money we can’t take the time to get better resources or betters contacts.

Mark Webber was short on all of these three also at the start. Yet he had a plan and then he begun to get more money through picking up the phone and contacting sponsors and potential sponsors, he built more contacts through those phones calls which opened other doors for him and he found the time because he had the final destination in mind at all times.

All my new clients come to me because they didn’t have a plan for the business finances and not only is their business is suffering, so is their health.

Imagine you are driving down the highway with you and your family or best mates in the car and its night time, the problem is none of you have seat belt on and the headlights are off.

Crazy? Yes

Would you do it? Not likely!

Why? because it is an accident waiting to happen.

Yet most Tradie’s are doing exactly that by not knowing the numbers of their business.

How safely are you traveling to your ultimate destination?

Are you driving with your lights off?

Ready to take a safer route?

Contact Katie today to help you start your journey.