You should already know that if you’re in business and you make a profit then you have to pay tax. Not paying tax can see IRD chasing you for collection and your debt almost doubling every three years it’s not paid. Despite this, not every business pays their tax. As at June 2015, New Zealand [...]
Myth #3 - Cash is profit. Profit is cash. FALSE! Too many business owners use their bank accounts as the only measure of how well their business is going. What you have in your bank account today, by itself, is no indication that your business is going well or not. It is only one guide [...]
As part of this series of articles, let's start with mythbusting business ideas some people have that I find funny, odd, or just plain sad. And there are a number of these. The sad part is that some of these myths have become so well ingrained in our business culture that they've created habits hard [...]
Stop blaming others. Take ownership of your life and start changing your world today. I see three types of people in this world: whingers who do nothing but complain and blame everyone but themselves. whingers who complain about everything and they also have all the ideas in the universe on how to fix things – [...]
Just because someone thinks it might not be achievable, shouldn't mean we don't try The Government recently released its latest report titled "90% of rivers and lakes swimmable by 2040". Inside the report, the Minister for Environment and Minister for Primary Industries (The Ministers) are standing by a brown-ish waterway with big smiles, presumably proud [...]
Last year I decided that it was time to help teach my daughter her first lesson about running a business. She was six years old and we had more apples than we could eat or need to freeze for apple pies in winters. I figured it was a good opportunity to teach her some basics [...]
Do you sometimes wonder why your accounting fees are still high even though you’re using great accounting software? Any output from accounting software is only as good as the information entered. We frequently find users of computer software use the wrong codes when entering transactions (e.g. GST coded on personal expenses, hire purchase payments coded [...]
In New Zealand - which currently is considered to have survived the Global Financial Crisis far better than most countries in the world - businesses are disappearing faster than ever. 36% of businesses born in 2010 with one to five employees ceased to exist by 2014 whether because of bankruptcy, liquidation, mergers and acquisitions, or other [...]
Shopping without checkouts is closer to becoming a reality This week, Amazon announced its most advanced shopping technology Amazon Go where technology used in self-driving cars (computer vision, sensor fusion, and deep learning algorithyms) is being applied create a Just Walk Out Shopping experience with no lines and no checkout. Customers simply use an app on [...]
You have to understand your numbers in business in order to survive but which numbers mean the most when it comes to decision making and the role of the middle man. This is part 5 in my series of blogs on how we can learn so much for business in general from the Dairy Industry. [...]
