If you’re self-employed there’s a range of things that might be stressing you out.
From how to pay the wages next week, to that letter you just got from the IRD. Have you ever laid in bed at 3am and the thought crosses your mind that...
"MAYBE YOUR TAX PAYMENTS ARE ALL WRONG!"
"Maybe the IRD made a mistake and you don’t really owe that much tax after all – now, how to prove it? Or maybe you just have this niggling feeling that something in your addition is all wrong – maybe it’s their addition – you hope!"
There is a whole raft of things that might really be keeping you awake – but tax for Small-Medium Enterprises (SME’s) is the most common one. Next to that is the wages, specific employee issues, and finding a way to increase turnover so you can actually get more profits for yourself – after all, countless entrepreneurs are going hungry in favour of paying their staff.
There are FOURSigns you need help growing your business:
Your business isn’t paying you what you’re worth.
Do you find yourself thinking that maybe I should get a second job to maintain my lifestyle - because my business is just not earning enough? Or you just didn't earn what you wanted to even justify a holiday? Or even worse, the bank, the IRD and everyone else is getting paid more than you are.
You don’t have enough savings to cover 2 months costs.
Those reserves are critical for the unexpected challenges you don't always see coming, but getting that reserve built up can be the hardest challenge of all sometimes.
You have an overdraft/revolving credit that you struggle to get rid of.
It just keeps sitting there maxing out every time you think you're nearly on top of it right? It's time to get serious about reserves and debt if this is your regular situation.
You want more from your business than you’re currently getting.
Dreams of a holiday, leaving you business in a capable manager's hands while you take a break, affording to update your home or car - if you're not getting these benefits from being self employed then it's time to look at why not, and what you can perhaps easily do about it.
Start Enjoying More Today!
Get the business you always dreamed it would be, enjoy a better lifestyle as a self employed entrepreneur, and start loving your work again. If it's often all in the 'too hard to do' basket lately, it's time for a change - and maybe that change starts with talking wih me about what you really want from you business and how to get that.
You can take action or you can sit in the centre of your storm and hope it passes without tossing you around too much. But often when storms brew in our businesses, we end up with little choice as to how we can ride out the dangers. Dangers such as losing a good credit rating, ending up cancelling critical and necessary insurance or not paying GST on time because those things you hope to catch up on when things settle. Dangers like getting a reputation for less than good service or quality of products, letting customers down, and at the extreme end, losing your home, partnership, family as things spiral out of control.
I’ve seen from a very close vantage point exactly how things can end up – all accountants have witnessed the falling apart phase of a business. But – it does not have to be like that for you. It’s not too late at any time to find consistent and simple ways to form a battle plan to go forward with – and that’s why I say Knowledge is Power. If you are armed with what you need to know and a willingness to believe that anything is possible you can work through whatever comes along.
Stop Wasting Time!
Business by Trial and Error is incredibly time consuming, frustrating, and frequently disappointing at the end. It can end up costing you a lot more than you expected in lost opportunities, time, wrong turns and stress. So stop trying to figure everything out on your own. I can help you fill in the gaps, save you time and energy on things that don’t work, and help you focus on getting your business strong, and paying you what you’re worth.
If I’m so good at this why am I GIVING AWAY these Breakthrough sessions?
Because I’m in the business of building a new way of doing accounting – I call it Accounting as it should be – and so my company is offering a limited number of these sessions FREE in 2017 so that we can start creating some great case studies and gathering information about what’s critical to get right for SME’s for my next business book.
I’m the author of a number of business books, written especially for small to medium businesses (SME’s) – entrepreneurs like me who do it for ourselves. I’m also a Chartered Accountant and I KNOW that anything is truly possible if you have an open mind. Like when I BEAT arthritis after a three-year intensive battle despite my doctors all telling me I’d have to live with chronic pain 24/7 for the rest of my life. And that time I achieved my qualifications over six years while working full time despite working in one town and studying in another.
I know what it’s like to be up against a brick wall – and I bet that you know what that feels like too.
For seven out of eight years, I’ve managed to grow my own business by double digits despite starting it at the beginning of the Global Financial Crisis in 2008, and I’m now doing things that many of my former CA bosses told me could not be done.
'If I had all the right information about my profitabilty, simple tax planning , and a sound stratgy for growth, would it be easier to be self-employed - regardless of my industry trends?
Knowledge is power from my perspective too – so I always start with a complimentary (that means you don’t pay) Breakthrough Session. It’s called that because not only are we going to talk a lot about your current situation, but we’re also going to ensure you leave with some early breakthroughs about how you can make more money, pay less tax, free up time, and/or reduce the stress that’s mostly responsible for your sleepless nights.
I wrote 'Business Essentials' in 2016 to help small business owners to better understand how to easily start or grow a business, and manage their taxes - you get a FREE copy of this book when you arrive for your Breakthrough Session.
It just might be one of the most useful books you'll ever read in 2017.
Marie's tax problem was growing bigger every year because the more she earned the more provisional tax had to be paid and there were penalties on penalties, and interest already accrued.
Marie was facing bankruptcy as an option. Instead we looked at the ways of trading out of the quicksand she felt she was in, selling assets to bring things up to date, and give a fresh start. We decided that a mixture of these was best as she wanted to have a complete change of direction anyway and no longer wanted to keep her business going. Complicating things even further was the state of her Trust that had been set up and managed badly for several years.
It took 2-3 years of careful tax management and (out of the box) planning, selling an investment property to help things along and show good faith to the tax department, and then working with them on a payment plan.
Ultimately Marie was able to close her business with nothing owing and a fresh start – instead of having a remainder debt of more than $50,000.
Here's what some other clients have to say about working with Brydon:
• “Brydon helped to uncover where I have lost my money. We evaluated pricing options around what the customer wants/needs are and using value as a pricing option.”
• “Brydon helped clarify getting rid of biggest expenses – had been holding off (too cheap) – saved me $12,000 p.a.; Good to hear about it from someone else to know it should be done”
• “Good to know/find out options for helping to even out net assets in two of our companies in our group (and help with bank discussions). Great to be asked how can achieve growth – helped with thinking about accountabilities. Useful for Opportunity to share information”
• “Putting a focus on what had been random thoughts; made us think well outside the box for our own benefit – not normally offered generally from other accountants– feels genuine; got information for future proofing – benefit our lives moving forward”
A Year From Now...
What medicine might you need to help you sleep at night if you keep doing what you're doing now? What will your life and your business look like if you don't take action now - in early 2017 - to make positive and sustainable changes in your business?
I guarantee that if you don’t feel that an hour with me in a complimentary Breakthrough Session has been of value or benefit at all, I’ll personally hand you $50 as you leave my office to thank you for your time. That’s more than most people make (net) an hour in NZ. No written complaints required, and no fine print to work through. And you even get to keep the FREE book too.