Tag: small business
Practice Sin 7 – Poor Time Management
Principals often spend too much time on activities that have no value. The Pareto analysis can be applied to time management. This is the ...
Practice Sin 6 – Dreadful delegation
Delegation is one of the practice principal’s most important management skills and if done well, saves you time, develops your people, and is a ...
Practice Sin 4 – Failing to Change
As the business environment changes, practice owners must change. The ‘old’ ways of doing things must be changed when technology makes the new ways ...
Practice Sin 3 – Operating the Practice Like a Hobby or Vocation, not a Business
Operating an accounting practice can be very personally rewarding and satisfying as principals have the freedom of being their own boss plus the satisfaction ...
Sturgeon’s 10% of Practices
If a Purple Cow practice is not achievable, then being part of Sturgeon’s 10% of practices would still be a worthy goal. This would ...
Practice Sin 1 – Failing to Reinvest in the Practice
The number 1 sin for an accounting practice is failing to reinvest in the practice. There can be the temptation in business to run ...
Importance of Strategic Planning
A business strategic plan details the methods by which a business sets out to achieve its objectives. Typically a business strategy will cover a ...
SMSF Advice Options
At June 2015 the ATO advised that there were 556,998 self-managed super funds in Australia with 1,049,840 members. During the 2015 financial year 32,073 ...
Accounting Practices Stuck in the Middle
According to Michael Porter the worst strategic error is to be stuck in the middle, or to try simultaneously to pursue all the strategies ...
A Purple Cow Practice
‘Purple Cow: Transform Your Business by Being Remarkable’ is a 2003 book by Seth Godin. The book advocates that companies produce remarkable products and ...