You're In the People Business
I saw a quote from Brian Tracy the other day that said “You are in the people business no matter what you do or where you do it.” This quote is a great reminder as so much business is now done electronically and digitally that we forget that people do business with people and not companies. If we exclude the faceless corporates, every business has an owner. And most businesses in New Zealand are family owned with real people exchanging goods and services with other real people.
Even on TradeMe, we always look to see the track record of someone we’re buying from. And when the deal is done, we’re asked to rate the experience.
It’s just a good reminder that the best public image for any business are its owners and the team in behind the owners. Never lose sight of just how important that is.
How to Better Your Competitors
“Better” can mean anything from the product or service itself to customer service, pricing, or marketing strategy. Here are some ways to get ahead of your competitors:
Get Lucky By Never Giving Up
Colonel Sanders was a sixth-grade dropout, got fired from a dozen jobs; was a lawyer who once assaulted his own client in court; started a restaurant that went out of business and found himself broke at the age of 65. That's when he started KFC.
In his words: "I've only had two rules: Do all you can and do it the best you can."
How To Set Up the Perfect Google+ Business Page
A lot of New Zealand businesses haven’t cottoned on to the value of Google+ yet, which means there’s a great opportunity to be had in many niches.
In addition, Google+ (also known as Google Plus) has not yet reached its potential and is expected to be even more important in the near future. Creating a quality Google+ Business Page, makes your business more visible on Google’s search results as well as contributing to the overall ranking you receive on search engines.
Information thanks to Mark Rocket - Managing Director of Avatar Ltd.
Leaders in web site design and marketing.
ONLINE RETAILING TIP
Bricks and Mortar Businesses Are Still Good
The Harvard Business review says latest figures show bricks and mortar retail is still in charge of the market by a long way, despite the impending threat of online purchasing.
It says over the past 20 years, e-commerce sales have grown to about 6% of total US retail sales. But though the e-commerce growth rate is attractive, it has slowed in the US from about 30% per year in the early 2000s to less than 15% today.
If the trend continues, online sales will only be 18% of the retail market by 2030
NEW CAR AND FBT TIP
How to Negotiate Better
There are often promotions when you buy a new car. In one case they included a free set of tyres after three years, $1000 worth of petrol vouchers and free servicing for three years.
Unfortunately you are not permitted to deduct the value of these from the cost price of the car for FBT purposes. They are merely promotional items.
However, they could be used as bargaining chips to get the original cost of the car (and hence FBT) reduced.
EARTHQUAKE STRENGTHENING TAX TIP
Some Costs Are Deductible
Some costs associated with earthquake strengthening may be tax deductible. Make the most of them. Examples:
We regularly publish the Step Up Business and Tax Tips Newsletter.
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Independent property management - including short-term rentals during EQC repairs.
We take maximum care in what we do and have respect for everyone we interact with. You can rely on us because we get it right, and we can respond quickly as we're not too big to care.
We are investment property owners ourselves and have been tenants as well. You can be assured that we have the necessary experience to provide great customized service in all that we do.
Visit Us: Maxproperty.co.nz
Email Us by clicking here
Or Call Us: (03)337-3132 or (022)125-2992 for further information and bookings.
Just like a physical health check can identify minor issues before they become major, businesses health checks can identify what areas of your business need attention.
This is an excellent “Breakthrough” book. Be inspired. Ideal for the ambitious business owner.
When being offered cash from their insurance company the real questions on most people's minds are "Am I getting enough?" and "How wary should I be of the wording 'full and final'"?
If you have wondered these questions this book is a must-read.
We have just released Business Value Optimiser!
Measure the impact of changes to your business before you make them.
See the effect your debtors are having on your cashflow.
See how you business ranks in your industry.
We'd love to show you what the numbers in your accounts can actually unlock.
If you do get behind with your taxes, don't hide it. Come to us and we'll sort the situation for you. Tax arrears never go away if ignored. We have achieved some great results for clients who have run short of cash. The IRD can be very accommodating but will jump all over you if you ignore your problem.
Call us for tax help: 0800 11 33 99.
Click here to ask me any question about business and I'll do my best to answer it. If I don't know the answer, I'm sure I can point you to someone who can.
Try me – there's no cost by the way. Just another complimentary service unique to E3 Business Accountants.