Clearer Simpler Numbers
Our team has deep analytical skills. We understand numbers but we are a small minority of people who do. Our experience in being involved, since 1995, with the Centre for Entrepreneurship at Curtin University where we have presented workshops in simple finance to business people like you is that less than 10% of business owners in the SME market get it when it comes to their financial numbers.
Understandable Financial Reports
You are the captain of the ship called your business. Like any captain, you need a dash board of indicators and gauges to tell you how your ship is tracking. Your bookkeeper gives you monthly profit and loss accounts and sometimes a balance sheet. More often than not, you do not believe the numbers or you get bogged down by the volume of data that you have to process.
Bookkeeping, Accounting & BAS’s
A lot of that information comes from your accounting systems. And the quality of that information is only as good as the bookkeeper who enters the data for you and the timeliness of this data. Good bookkeepers make a valuable contribution to your business. We can assist them by coaching and training them as we liaise with them over the year.
Tax Planning
Kerry Packer famously told a print media committee in 1991 that “I don’t know anybody that does not minimise their tax. I am not evading tax in any way shape or form. Of course I am minimising my tax. If anybody in this country doesn’t minimise their tax they want their head read. As a government I can tell you you’re not spending it that well that we should be paying extra.”
Business Strategy
Good businesses have a strategy. They know what product/service they want to offer for sale, how much it will cost, how much they will sell it for, how much margin they will make, how they will make it, how they will market their offering, the kind and type of customer demographics they are targeting, the skills they need to recruit to enable them to compete successfully, how much capital they will need for the venture, how they will manage their cash flows, how they will protect their intellectual property and other assets, how they will pay no more than fair share of tax, how they will make sure their team is properly engaged etc.
Business Mentoring & Coaching
There may come a point in your business’s growth that you want to have an honest objective sounding board of your hopes and aspirations and fears and obstacles. You will be looking for a business mentor.
Ownership Thinking
There is a belief in the marketplace that if your key employees had a shareholding in your business, they will think and act like business owners because their interest in the outcomes are “aligned” to that of the business. We believe that this may be true in some cases, but our experience with our clients has taught us that this approach is fraught with dangers and the whole exercise needs to be thought through very very carefully, and all assumptions reviewed. A case in point – if the employee resigns or is terminated, does (s)he still continue to be a shareholder with an expectation of a dividend and access to financial information?