Tag: tips
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 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 ...
Practice Sin 2 – Underinvesting in Personal Professional Development & Training
Too many practice principals do not take the advice of Stephen Covey (Seven Habits of Highly Successful People) and spend the time to ‘sharpen ...
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 ...
Tax Considerations with Investing in Property
When buying an investment property it is important to see your accountant first. Often buyers get a building inspection report and a pest inspection ...
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 ...
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 ...