Cybersecurity tips for business owners

It’s natural for small business owners to think that they won’t be victims of cyber attacks. Most of the news surrounding hacking and data breaches involves large corporations, but that is because that’s where a high number of victims are affected. Hackers may find they have an easier time going after small businesses and start-ups that aren’t prepared for a security breach. So while they might get less information from…  Read more

2nd Stimulus Package Announced

24/03/20 The Australian Government has announced a second stimulus package as we continue to fight COVID-19. The $66 billion dollar coronavirus stimulus provides relief for small businesses, casuals and welfare recipients.  This combined stimulus of $189 billion dollars will hopefully reduce some of the impact Coronavirus is having on our community. Following the government’s first stimulus package less than 2 weeks ago, Treasurer Josh Frydenberg said: “We now expect the…  Read more

What the first Coronavirus Stimulus Package means for you

13/03/20 It’s hard to escape the news of the Coronavirus as it continues to have a huge impact on people across the world. Closer to home, the Morrison Government has announced a first stimulus package in response to the anticipated economic downturn. This package includes a number of economic stimulus measures, most targeted at helping small to medium-sized businesses. Here to help But first, please be assured that we are…  Read more

‘Job Keeper’ payment makes up Government’s 3rd stimulus package

30/03/20 As we try to catch a breath from all the chaos going on with Coronavirus, we just got word of the Australian Government’s latest stimulus package. This package focuses on the ‘job keeper’ payment, aimed at helping businesses keep their staff, which will be a lifeline for many people over the coming months. Here a quick overview of what it means: Employers and sole traders will be able to…  Read more

How a “virtual cfo” can help you grow your business

Every business can benefit from dedicated financial management expertise, but very few small businesses have the means to hire someone full time—particularly in the lean early years. Unfortunately, it’s those first few years when a company is just starting up that establishing good habits with managing financial resources is so important, and, over time can even make or break a business. Hiring a virtual CFO is an affordable option for…  Read more

How to ask the right sales questions

Sales is about addressing your customers’ needs and problems. By understanding the issues clients face, you can show them how your solution solves their problem. Here are some tips for asking the right sales questions to better understand and help your customers. 1. Don’t jump into sales questions right away Sales isn’t just about making a sale, although that’s certainly part of it. Sales is about building relationships. That’s how…  Read more

Simple tips for onboarding new employees

The first day of a new job can be overwhelming for new employees. There are company policies and procedures to absorb, colleagues to meet, and job duties to learn. That stress can make the first few days of a job uncomfortable. As a small business owner, it makes sense for you to make that transition as easy and pleasant for the new hire as possible. Taking some simple steps will…  Read more

Can residential property fund your retirement?

Thinking about retirement can be stressful. You need to plan for how long you think you’ll be retired, what lifestyle you’ll want to lead, and approximately how much you’ll pay to maintain your cost of living plus any additional expenses. There are a lot of unknowns and “what ifs” that you might not be able to anticipate, and many of them can affect your finances. Many people ask whether residential…  Read more

Spotting Problem Employees Ahead of Time

Your employees are the blood of your entrepreneurial life. No start-up will survive without a good set of people making sure that things run perfectly. The problem for you and any other entrepreneur is making sure that the people on your team are trustworthy and reliable. Some people have a sixth sense when it comes to reading people, but if you’re not that lucky you can simply keep an eye…  Read more

Download our free ebook – 3 simple steps to keep your bookkeeper happy

Hello, Christine here! I’m proud to announce the launch of my new ebook called ‘3 simple steps to keep your bookkeeper happy’ My experience in business has taught me many things. Most importantly – in order to grow a successful business, you need squeaky financial records. I know the admin and bookkeeping side of a business can be a drag. You didn’t go into business just so you could spend hours…  Read more

Separating personal and business expenses

There are some things in life that go together well and others that definitely do not. Business and personal finances are in the category of items that should not be mixed. Although it may seem like a headache to keep them separate—who wants to manage all those bank accounts?—your life will be greatly simplified once you separate your personal and your business finances, especially your expenses. Paperwork and taxes will…  Read more

Is it the right time to take out a business loan?

In the lean, early years of running a business – that crucial time when most startups need capital – qualifying for a loan can be difficult. Step one is to build a solid credit rating, so a lender feels confident your company isn’t a high risk for repayment and can say “yes” to your application. Once you’ve established a positive credit score, the perfect time to take out a business…  Read more

Identify your break-even point

Without knowing your break-even point, you can’t make informed business decisions. To cover the costs of your business you need to sell enough goods or services to reach your break-even point. Knowing where that point is, and how long it will take you to reach it, can be fundamental to your success. This especially true if you’re thinking about starting or buying a business. Calculate fixed and variable costs The…  Read more

How to Attract and Retain Top Talent

The best companies attract and retain top talent. Finding the best people takes time, but it is an investment that can save you money over the long haul. The more effort you put into finding the right people, the less likely that they will move on when another opportunity arises. Here are some strategies for attracting and retaining top talent. Give Yourself Time A senior manager has quit, leaving a…  Read more

Improving your business with better time management

When things are hectic, most small business owners wish they could find a way to get more than 24 hours into a day. Often, your ‘to-do’ list can get so long that you feel you never get to put as much attention into every task as you would like. It can also mean more time in the office or dealing with work issues after-hours – cutting into your free time…  Read more

What does 2020 hold for your business?

Business Planning for 2020 It’s hard to believe it but we’re in 2020 now! I’ve spent some time working on the 2020 business plan for SOS-925 and encourage my clients to do the same. It’s the perfect time of year to stop, pause and think about your business and your strategy in the year ahead. If you’re looking to make some positive changes this year, I’d like to help –…  Read more

The Number 1 Thing You Need to Know About Your Business

When you own a small business, it’s vital you understand how money flows into and out of it. At a basic level, you need to know where your income comes from and what your expenses are. At a deeper level, knowing how money moves through your business can help you make strategic decisions about growth, invoicing, and debt management. The consequences of not understanding money can be drastic—poor financial management…  Read more

Season’s Greetings – SOS-925 Bookkeeping

    This practice will taking a well deserved break and closing Friday 20th December 2019 and re-opening Monday 6th January 2020. May you all take the time to enjoy your family & friends in this festive season. Hopefully you will get a chance to relax, reflect and rejuvenate to welcome in this long awaited 2020 decade. From my family to yours – Merry Christmas – Warm Regards, Christine  Read more

10 more quick growth tips for small business owners

Help grow your business through collaboration, expansion, improved marketing and some of the following quick tips. 1. Improve your customer service Businesses with good customer service retain consumers and attract new business through word-of-mouth. Even if you think you’re already providing good service, make it a priority to provide refresher training to frontline staff at least once a year. Alternatively, hold regular meetings to discuss any issues as they arise.…  Read more

Salary sacrificing super changes coming Jan 2020! *Important update*

Changes to Salary Sacrificing Super There’s been an important change to employee super guarantee calculations, in relation to employees who salary sacrifice part of their wage or salary into super, resulting in paying less tax. The following information is an update for employers. Please contact us if you would like to chat. What is it? Salary sacrificing super is when an employee can ‘sacrifice’ part of their salary or wages…  Read more

Do you want to grow your business? Our Free Resources will Help