DO YOU TOLERATE LOW MARGIN WORK?
If your profit margins are thin, there is a real danger you are running a charity for your least valuable customers. Low margin work is a silent killer. Most owners know it is there. Very few actually cut it out, believing that loss leaders are a necessary part of business. You want to fix this? […]
AS A BUSINESS OWNER, WHAT WOULD HAPPEN IN YOUR BUSINESS IF YOU DISAPPEARED FOR A MONTH?
If that question scares the sh.t out of you, may I suggest the first thing you need to do when you go back to work after the weekend is to address that…..and quickly. Because if every decision needs your approval, staff become lazy in the sense they will avoid making even the simplest decisions independently. […]
BUSINESS OWNERS – YOU’VE BEEN TOLD THAT HARD WORK EQUALS SUCCESS.
I think that statement is more lie than truth. Hard work is the participation trophy of business. But the difference between someone making £50k and someone making £500k isn’t effort – it’s leverage. Over the many years I’ve been doing this, I’ve seen so many entrepreneurs outwork very wealthy clients every single day. They’re grinding […]
EVERY DIRECTOR WHO SAYS THEY’RE PROFITABLE BUT CAN’T TAKE A SALARY IS LYING TO THEMSELVES.
I’m going to blunt here. If you can’t pay yourself a proper salary as the owner, you don’t have a business. You have a job that pays worse than employment. I see this far too often. Directors pulling £20k a year from a £500k turnover business and calling it success. They’re working 60 hours a […]
The Company Bank Account Is Not Your Personal Holiday Fund
If only I had a £1 every time I hear the, ““I own all the shares, so the company bank account is basically mine” argument. I grant you – it does sound logical. Unfortunately, here’s the reality A limited company is its own legal person. IT OWNS THE MONEY. You don’t – even if you’re […]
Before You Hire an Accountant, Here’s 10 Very Different Questions To Ask
What would you say to a FREE 60 minute Business X-Ray Session?
Most business owners are pretty confident they think they know what’s working in their company. But very often, when you scratch beneath the surface, the reality can look very different. – That profitable product that’s actually draining cash.– Your “top client” who’s actually draining you.– And hidden costs that nobody’s flagged. So that’s why I […]
How Much Does It Really Cost to Make Your Product?
It is really concerning if I ask a business owner what the cost is to make their product and they don’t know. Sure, they may be able to give a “it’s about £xxx” type answer, but I know that’s a guess with very little solid backup to it. But if you run a business and […]
MTD for Corporation Tax Is Scrapped! But what’s next?
So in the latest change of direction (aka U-turn), HMRC has officially confirmed that Making Tax Digital for Corporation Tax is no longer happening. After years of delays, limited pilot uptake, and mounting industry feedback, the government has decided to pull the plug. For many in the accounting and business world, it’s a relief. What […]
Listen. Care. Serve. Repeat.
That’s a four step process when running an accounting practice, that is a core value to me because people come first. Every client relationship begins with listening. Whether it’s a sole trader navigating their first tax return; or a growing business seeking clarity amidst complexity; it’s crucial to take the time to truly hear what […]