“The most important thing in business – indeed in life – is to understand your purpose.” So said our first business coach, who urged me and my fellow founder, Robert Hadded, to document our business ‘purpose’ for The Practice – also called a mission statement. Now for two 24-year-old upstarts in their first year in business, it would have been easy to dismiss this as fluff. But we had our eyes on a bigger prize – building a business that transcended the two founders. We wanted a business that … [Read more...] about The Power of Purpose
Most business owners don’t get an adequate reward for all their hard work, heartache and stress. Over the last 20 years, I’ve seen far too many business owners who simply don’t make enough money to make it all worthwhile. (In fact, the harsh truth is that some would be better off getting a job...) But we owners can’t help ourselves. We love being the boss and calling the shots. We want to make our mark in the world and build something bigger than us. But gee, it’d be nice to make … [Read more...] about Are you better off getting a job?
When the going gets tough, Aussie SMEs turn to their accountants first. That’s one of the findings of the most recent MYOB SME Snapshot survey. Not that this is surprising. I’ve seen first-hand how technology changes such as the rise of cloud accounting have helped businesses reduce administration tasks and increase cash flow. The flow-on effect, and the most profound impact of cloud accounting, has been to free up Accountants from a compliance focus so they can move from bean-counter to … [Read more...] about Accountants do it better
Why penalise someone for working hard? For me, that’s what the current debate around increasing the GST boils down to. My belief is simple: it’s far more effective, on a number of levels, to tax spending rather than taxing earning. The benefit of consumption taxes like the GST is the amount of tax you pay depends on how much you spend. This alone would be unfair on lower income households, as the percentage of tax they would pay compared to income would be higher. So any talk of a GST … [Read more...] about Should Australia get a second job?