Finances
Indebted
Do not collect $200.
Naomi asked how my end of financial year (EOFY) was going.
I reflected that it was rather less cheery than the current crop of pay TV ads.
The source of my ennui is a large sum of money which I’ve earned, but not received.
For the first time in Empire history, I’m thinking debt collection.
I [...]
Super – can a fragile misfit expedite the process?
I feel cagey.
Superannuation has been an odd venture for me.
I’ve charted several courses, without satisfaction.
Now I’m taking a violently different tack.
Will time and tide vanquish or vindicate?
Rolled gold
My first corporate employer had a ‘defined benefit’ fund.
From the instant I joined, I was worth $160K dead or retired. This grew around $10K a year [...]
Pain Points – Part 2
Part 1 covered the top eight ‘pain points’ (as ranked by SMEs in MYOB’s Business Monitor).
Here are the lower eight, again with my comments.
9. Doing monthly accounts including tax
I hate bookkeeping so much, I put all my papers in a box and spend one agonising day per quarter sorting them out.
I like words, not numbers!
10. [...]
The Agony of Price
Poor pricing can cripple your business. Too low, profits go. Too high, sales die. As with terms, this fickle field has many pitfalls. To avoid them, I seek your take on the scenarios below.
Think of it as a game of Scruples, without the vodka and fondue.
Perception
A cheap checkout perfume didn’t sell until the supermarket [...]
Trial by Fire
I was grateful for the many considered comments on No Guarantees. So grateful, that I just did something I’ve never done.
I offered a guarantee.
Yes, it was in pursuit of new business. Nevertheless, it was still a big new trick for a relatively old dog. On spotting the word ‘readvertised’ in a job ad, I emailed [...]
Dear Mr Bank Manager
Today’s guest blogger is Sonia Cuff, owner of a Computer Troubleshooters franchise based in sunny Queensland. Sonia is passionate about helping small business owners around the world with the right technology advice and support – please make her feel welcome with this excellent first post on Small Business Owner.
On most days I love being self-employed. I like [...]
Impersonal Banking
Bank bashing is easy, unproductive and old hat. Therefore, let me say this: if I lent hundreds of thousands of dollars to a virtual stranger so he could buy a home, run a business and do up his kitchen, I’d certainly expect to hold the whip hand.
Though it concerns banking, this post is about [...]
Teabags, Toilet Paper & Tax
Over the years, I’ve peppered my accountant with (mostly outrageous) questions about what I can legally claim against my business income to minimise my tax. My learnings are summarised below.
With any luck, you’ll spot something you haven’t considered. Even better, you’ll table things I’ve missed. If we all contribute, we’ll create a comprehensive list [...]
The Black Art of Bookkeeping
It may surprise (and even reassure) you to know I don’t use MYOB. I have other software, having seized a one-year-free deal without knowing what it meant.
I now pay for updates each year that cost more than the original program. Worse, I chose a version to handle five staff, who all had to go when [...]
