Do you want to invest in a start-up? Or maybe you have an innovative idea that you need funding for?
Two new tax incentives designed to make investing in Australian start-ups more attractive started on 1 July 2016.
“A rose by any other name would smell as sweet.”
In one of Shakespeare's most famous lines, he reminds us that a name really is just... a name.
But is a name more when it comes to business?
Let’s for a moment look at some of the perks of a smart business name.
If a salesperson tells you your purchase is tax deductible is it?
It can sometimes be confusing trying to work out whether or not you need to lodge a tax return.
It's tax time again. Follow our top tax tips to make tax time a breeze.
Your business website costs may be claimed as a tax deduction...
We’ve recently added an ABN search feature to the new business.gov.au. This feature is similar to the ABN search feature you may have used on our site previously.
Earlier this week, Square and Startup Week 2016 presented Ladies Who Launch: a panel featuring some of Australia’s inspiring business owners – who just happen to be women.
Around 200 of us gathered at 524 Flinders Street to hear from four successful founders: Sarah Hamilton ofBellabox, Simone Clark of Butterbing Cookie Sandwiches, Sheryl Thai of Cupcake Central + the League of Extraordinary Women, and Jacqui Bull of Sidekicker.
The panel was hosted Josh McNicol, Head of Marketing and Communications for Square Australia.
Close to one million businesses in Australia are home-based – a significant portion of the nation’s business community.
Running a home-based business offers a number of advantages including flexibility, convenience, freedom and cost savings. And when it comes to tax time, operating a business at or from your home means you may be eligible for a number of tax deductions.
Whiteboards took up half of Wendy Fallow’s office. The operations manager of Clear Concepts, a customised glass design business, said her working life consisted of sticking cellotaped magnets on pieces of paper and talking on the phone to her seven mobile installers and sales reps.
Starting and sustaining a small business requires a lot of time and dedication. It also requires money. For many people, the one thing holding them back is the capital required to start a business and endure a lean period when it is getting up and running. People fall into debt or end up giving up on their dream and returning to full-time work for a steady income.
However, it is possible to prevent this heartache by hanging on to your full-time job while your business gets off the ground. It will mean long hours that don’t end once you get home from work and the sacrifice of every minute of free time, but it can be the difference between having the security to forge ahead with your dream, or having to abandon it when you can’t sustain it any longer.
The world of business has entered the Age of Data. (It’s like the Age of Aquarius, except instead of a catchy song we have a smartphone app). Now, business owners can record, track, and report on every facet of their company.
Great employees are made up of two foundational elements: enthusiasm and teachability.
The former denotes a passionate individual, while the latter is one who wants to develop and progress, who is hungry to learn, and who evidences the trait of humility.
If you can find an individual with these two traits as well as highly developed skills, then you’re on to a winner. And, even if the skill levels are less than required, their rise to skill mastery will be much faster if they already have these two foundational traits.
If you’re seeking to achieve business growth and expansion, it’s likely you’ll look to leverage the passion and talent of your employees. This might mean looking to your star performers, and it might mean looking for new hires.
The ultimate outcome here is to create autonomy within your workforce – you’re seeking to create a capability that works as if you were controlling it but with little need for your input. Think about that for a moment.
Every successful company, large or small, has a strong brand. In fact, the most important and valuable asset of some of the largest companies in the world – Apple, Google and Coca-Cola – is their brand.
But you don’t need a massive marketing budget to build a successful brand. It can be done with just a few simple changes to the way you think about and operate your business.
Word of mouth is one of the most powerful drivers of traffic and sales for retailers. According to McKinsey, it’s the primary factor behind 20 – 50% of all buying decisions and can influence purchases in ways that traditional advertising can’t.
Word of mouth is like the holy grail of marketing. And to help you tap into it, we’ve compiled some tips that you can put into action in your store.
Dolphins can stay continuously alert for over two weeks at a time. They only sleep with half their brains turned off at a time. This helps prevent them being eaten by sharks. Entrepreneurs will no doubt find this fact hauntingly familiar.
You may walk the walk, but can you talk the talk? Public speaking, pitching, talking, listening. Communication is integral to every aspect of business ownership and is a skill that directly impacts success.
“This is our breakout area. As you can see, we’ve got a pool table, an ironic Space Invaders machine, several broken Apple Macs hanging on the exposed brick wall, craft beer on tap, though I think the keg’s empty… Oh, and that khaki tent in the corner is for meetings. Of course, there’s nobody in here at the moment as we’re all so busy working.”
Do you spend a lot of time entering invoices? At Xero, they're committed to helping you shave hours off your invoicing workflow. Here’s a grab-bag of ways you can use Xero to speed up your invoicing. Some ways might not suit you, it’s a case of picking the ones that make sense for your business.
It’s an issue a lot of our customers face: being priced out of work by newer, shinier and yes, cheaper competition. If your business is losing clients this way, it’s time to assess what’s going on.
As any business grows, one of the biggest challenges is keeping costs to a minimum while bringing in more revenue and staying profitable. In others words: achieving business efficiency. So how can you go about doing this?
A few years ago, who would have thought you could be watching your kids play sports while keeping on top of your business’s finances? All from a phone in the palm of your hand? Or that you could be travelling – across town or across the world – and be able to login to your accounting software and see where your business stands at that precise moment in time?
This week on Xero Gravity, Xero’s very own Rod Drury joins us to divulge what inspires him as a leader. Rod knows all about the importance of thinking globally. A Hi-Tech New Zealand Entrepreneur of the Year winner and stand-up paddleboard enthusiast, he joins Elizabeth Ü in studio to discuss the parallels between Tesla’s plan to make the world better, and how small businesses can innovate and grow beyond their community.
More people than ever work remotely, at least part of the week. Here at WorkflowMax, many of our users – and even some of our team – work remotely all across the globe. I myself work from my off-grid eco-home in rural New Zealand. Usually, this is a wonderful arrangement enabling staff the freedom to live and work wherever they want, and to facilitate a great work/life balance. But it comes at a cost.
The first year in business is often both the toughest and most rewarding time. It’s when you start to figure out who you are as a business owner, and whether there really are people out there who will pay for your product or service.
Do you want to expand your business, be more competitive in your industry and achieve certain goals?
If you answered yes to any of the above, you need a business plan!
Whether you’ve just started out or you’ve been running your business for years, business planning can be the key to your success.
We’ve laid out three key reasons why you need to get started on your business plan today.
Sheryl Sandberg told startup founders to fail fast, she didn’t tell you to fail. It’s a subtle difference I’m calling out because there’s a trend starting to emerge, particularly in the Bay Area, that flat out failing is completely acceptable.
As a small business owner, you’re going to have good days and bad days. Some days will be worse than others.
Part of coping with the darker days that come with managing your own operation is being primed and ready to handle them when they arrive.
This involves building a network of advisors around you, hiring the right team and implementing the right technology so you have all the resources to push through and come out the other side with a healthy and stable business.
Every seven years, renowned graphic designer Stefan Sagmeister takes a year off. Unencumbered, unrestricted by the demands of his high-profile career, he has an opportunity to work for himself. The result is surprising, beautiful, provocative (check it out in his TED talk here) and comes from a place of authenticity and complete creative freedom.
“The people that embrace technology of course are the ones who are going ahead. The ones who see disruption not as disruption but as a challenge to develop new processes and new products.”
– Steve Vamos, non executive director, Telstra and Fletcher Building
It seems, nowadays, that everywhere you look you’ll see something related to ‘culture’ and the benefits of a good company culture — and of course the disadvantages of a bad one. So what is this ‘culture’ I speak of?
There are fundamental shifts taking place in HR. In these times of critical skills shortages, everyone has woken up to the fact that employees are the most important company asset. And using the right HR Tech will help you get the best out of them.
You may be surprised to learn that the worst culprits for consistent late payment are not actually the massive corporate juggernauts or the mini mom-and-pop businesses out there… the latest payers are actually high street retailers.
It goes without saying that shoplifting is a major problem in retail. A 2014 study by the National Retail Federation found that shoplifting accounts for 38% of shrinkage, and was costing retailers $32 billion a year. That’s a huge chunk of revenue. To help you keep the income you deserve, we’ve put together some tips for preventing and dealing with shoplifting.
If you want a quick and low-cost strategy to get more jobs quickly, then email marketing is a must do. But how do you make it work?
Some company names have interesting stories behind them. For example, Nike is named after the Greek goddess of victory. Yahoo! Is short for “Yet Another Hierarchical Officious Oracle.” Steve Jobs came up with the name Apple after a trip to an apple farm. He thought the name sounded “fun, spirited and not intimidating.”
Every year you pay levies to ACC to cover injuries suffered in and out of work — and vehicle regos help cover injuries suffered in road accidents.
Staff scheduling is the heartbeat of any SME, and should never be taken on half-heartedly.
During the 2015 federal budget, the Australian Government labelled small businesses as the ‘engine room of the Australian economy’ – driving growth and creating jobs.
A year on, the federal government solidified that moniker. They handed further tax cuts to small business owners and increased the revenue threshold to include a further 60,000 businesses not previously eligible for lower taxes and asset deductions.
When starting a business, one of the things you’ll need to work out is where you’ll operate.
Each business has different requirements, so it’s important to consider what will work for you when deciding on a location for your business.
SuperStream, the new electronic reporting and payment for superannuation, starts for all businesses with employees from the 1 July 2016. Do you understand what you need to do to avoid a hefty ATO fine? This article will make it clear.
Crowd Funding is an emerging tool to get capital into your business but what does the tax man think of it?
How do you keep on top of your customer and supplier relationships? Look no further than your email.
For small businesses, email is a critical communications tool. With the advent of mobile technologies, small businesses in all industries can stay in touch with their business while working on the go. They use email to stay in touch with what’s happening with their customers and suppliers whenever it’s convenient.
A few months back, Xero released the Make or Break report, which identified key traits of successful business owners. Surveying 2,000 small business owners across the US and the UK, we gathered data on the perfect ingredients a small business owner needs in his/her pantry to survive the hardships that come along with owning a business. As we are kicking off a new quarter, here are some of the tips on how Xero can help formulating the right recipe –
Mark Constantino Jr is on a mission – to convince small business operators and managers that there is nothing scary about cloud-based computing. “The cloud is just the internet,” says the US-based information technology expert and co-CEO of tech-help solutions company MyCloudCure. “It’s just the way that everything is interconnected from country to country, from continent to continent.”
As we’ve mentioned, wearable tech for our everyday lives hasn’t exactly taken off. There are multiple reasons for this, mostly around cost, wearability and it’s lack of desirable functionality. However, those factors aren’t the same in the business world. They have vastly different budgets and needs, and let’s face it, when have work uniforms ever been fashionable? The wearable tech revolution isn’t going to be pioneered by hipsters living in Silicon Valley, it’s going to be ushered in by industries that can most benefit from the current technology.
Do you remember the last time you focused so deeply, so completely on something that it consumed you entirely? In the middle of writing this blog post I’ve already checked my mail (twice), flicked through a couple of articles on Medium, Forbes and Fast Company (my favourite research and inspiration hunting/stomping grounds) drafted an email to a customer and trawled through 76 responses from a user survey. I’m SUPPOSED to be writing an 1000+ word blog post, but more often than not I find my attention drifting to the million other things I need to get done during the day.
We haven’t written a “Work Life” post in a while and I’m a firm believer that it’s a critical part of a productive work environment. So taking a break from all our “Work Smarter” posts, I hereby offer something on the lighter side. And hey, as April gains momentum in, it’s also a GREAT time to make some positive changes to start FY17 fresh!
In the early days of my field service career, I took over a territory from a tech who was… let’s just say, less than the ideal service rep.
My very first service call in his territory told me what I was in for. I called the customer to give an ETA and her response was, “Two hours? Yeah, right. I’ll see you tomorrow, if I’m lucky.”
I was shocked, so I had to ask, “Excuse me, but why do you say that?”
“I’ll just finish that email, oh look my friend is messaging me, oh and there’s someone knocking on the door of my office, and that report is due, and my phone is buzzing …”
Does this sound like you? Are you trying to do a million things at once and failing at them all?
A robust rostering system is essential in any hospitality or retail business. Ensuring you have the right number of staff rostered on will keep your customers happy, and your wage cost looking great.
When Fortune tabs you as the #5 Best Workplace in Retail for 2015, you’re on to something good.
This week Xero Gravity host Elizabeth Ü chats with Anthony Bucci, Founder & CEO of online motorcycle retailer RevZilla. Anthony’s passion for hiring the right person is undeniable. He shares his learnings from those first handful of hires made at RevZilla and offers invaluable insight into how to grow your best team.
We’ve all worked with them at some point – the employees or coworkers who are chronically late for work but who are the first ones to head home at the end of the day.
When they’re on the job, they do the minimum that they can get by with without getting fired. Many label them as ‘lazy’ or ‘slackers’ and quickly write them off as a potential layoff candidate.
It’s that time of the year again – the time when you’re looking over your books and seeing what worked and didn’t work. You’re thinking about goals for the year ahead and wondering how you can improve profit in your company. And one simple solution is staring you in the face: you can raise prices.
Hands up if you recognise the process of; receiving an invoice, getting it to your bookkeeper, making sure it’s entered into your accounts, filing the invoice and then storing it for several years…
The profitability of any job undertaken by a field services business can vary significantly from expectations at the time the estimate for that job was created. Removing this variability and delivering consistent profits should be the goal of every business owner.
Five customers from 100 leads is huge. But what about the other 95 that started out interested? The answers lay in digital marketing.
This week, Xero Gravity host Elizabeth Ü chats to Michael Mothner, Founder & CEO of online marketing firm WPromote. He’ll bust digital marketing myths and provide solutions that won’t burn a hole in your pocket. We’ll also explore questions like, “We created a website, what now?” and “I get business from world of mouth, why do I need digital too?”
There is one quality that every trades or services business needs to survive – trustworthiness. Without it, a company and all who sail in her are destined for a watery grave.
Understanding your target audience is vital for developing a marketing strategy that works. Without a particular ideal customer in mind, your efforts amount to little more than wishful thinking. There are very few niches where a business will be unopposed, and if you aren’t making efforts to refine your marketing focus to build better leads, you can be sure that your competition is. Having a great product is only part of the equation. Getting it in front of the right faces is as, if not more, important.
Over the last few years we’ve been able to get a pretty good handle on your biggest pain points as a business.
One of the easiest ways to drive sales for your business is to have repeat and referral customers. But if you want a customer to keep coming back, or to refer you to their friends, you have to keep them engaged. This doesn’t mean hammering them with emails or making sure they’re following all your social media accounts. It means interacting with them in a meaningful way, a way that makes an impact.
Corporate social responsibility (CSR) is becoming an increasingly popular concept in the retail world. More and more merchants are realizing that giving back doesn’t just make the world a better place, it’s also good for business.
“We selected our 12 best managers and we psychometrically profiled them. From that profile we were then able to build what we saw was an ideal person that would fit our culture.” - Angus Kennard, non executive director and third generation leader of Kennards Hire.
Engaged employees are the secret weapon of successful organisations of any size. If your people are happy, committed and empowered, they’ll stay with your business. Your customers will get a better experience, you spend less on recruitment and re-training, productivity soars and absenteeism plummets.
Doing your timesheets can be a time consuming task. But now they’re a breeze with the long-anticipated addition of Timesheets to Xero Me.
It’s another big step towards bringing payroll out of the back office – and we’re really excited to have made it happen for Xero Australia.
We’re excited to announce another development in our long-running global partnership with Square. Square is launching Square Reader in Australia, enabling business owners to quickly and securely accept card payments directly on smartphones and tablet devices.
As an employer, it's important you understand the difference between employees and contractors. You're responsible for getting it right!
Keep tabs on your business relationships without fuss. Connect and collaborate seamlessly with your contacts. That’s what you get from the tighter integration of Xero and Google Apps for Work announced today.
SEO. Many business owners make the mistake of thinking it’s a one-time thing. It turns out that investing in search engine optimization and content marketing is actually one of the most important facets of running your business. Long story short, if your business has a web presence, you need to know SEO.
This week on Xero Gravity, Rand Fishkin, SEO wizard and founder of Moz, talks about the importance of optimizing your website and how it’s changing with social and mobile.
Keep up to date with the latest in the tech sector.
Inventory management has been around for as long as there have been businesses that stock and sell products. Even in the bygone era of having main street village shops and trades, some kind of inventory management was used, even if it was only a brief daily stock take followed by simple restocking, manufacture and acquisitions.
Determining the cost of a job accurately and efficiently can be challenging, overwhelming and fraught with risk. When you price a job right and win it, it can deliver instant improvements to your bottom line — but getting it wrong can be a very expensive mistake.
When my brother-in-law started his landscaping business in 2007, he didn’t expect his part-time operation to escalate to 50 hours of work per week within two months. And it was a big commitment for him to employ his first staff member six months in, but was necessary for him to meet demand. As soon as he was aware of the demand for the service he was offering, he prepared himself for growth and this planning quickly paid dividends.
Project Workflows should just…flow, right? Even Google Images represents ‘workflow’ as a series of harmonious shapes neatly connected with arrows... But in the real world things RARELY go according to plan. Remember that client who defaulted on payment, the tensions that arose within project teams and of course that one time the budget got blown out…?
Striking out on your own and starting a business is one of the hardest things you can do in your professional life, but the work isn’t over the second you open your shop. Once the business is up and running you constantly have to improve and optimize to stay ahead of the curve and, most importantly, to become — and stay — profitable.
We love curating list posts, especially list posts that feature apps and tools to help you work smarter. We recently published a post on handy browser extensions to improve productivity and get more done. This is one landscape that’s always changing however and we’re always looking to provide the most up-to-date and helpful information to help you achieve more. A conversation with a colleague sparked this particular post, and I hope you find it helpful – I certainly have.
The issue of bullying at school is well-known and reasonably well understood. But workplace bullying is just as big a problem. In the US, for example, 27% of employees have experienced bullying, and managers are the main cause.
Wherever you find people who are driven, ambitious and strong-willed, there’s potential for bullying. Unfortunately, there’s a good chance that some of the people reading this are workplace bullies.
When it comes to building rosters you want to be as accurate as possible when forecasting future staffing requirements. Time again, we’ve seen rosters being created based on instinct and manager experience.
As a small business owner, it’s quite likely you play both the role of salesperson and debt chaser. On one hand you want to keep the relationship positive so you can continue selling to that customer, but on the other hand you need your bills paid for your business to survive. Maintaining customer loyalty and satisfaction while keeping a credit control policy that’s abided by can (at times) put you in an awkward position.
Cash is often referred to as the lifeblood of an organisation, a key factor that determines business success or failure. In many cases, cash is vital for daily survival; a small business that doesn’t have enough cash on hand to pay suppliers might not be able to open the next day.
Social media. It’s big, it’s fast, and it’s growing. What can you do to make sure you’re using the right social channels to connect with your customers and market your brand?
In this episode of Xero Gravity, hosts Elizabeth Ü and Gene Marks are joined by Mychelle Mollot, CMO at Klipfolio, and Raheela Nanji, Director at Ree Consulting Inc., to discuss all the nitty gritty details of social media in business.
When business is booming and everything’s going well, it seems fair to cut back on your marketing efforts. More business means less spare time, so investing effort in marketing becomes difficult, and easy to neglect.
Customer retention is vital for the growth and sustainability of any eCommerce business. The cost of acquiring new customers means building loyalty within your current customer base should take precedence.
With smartphones at our fingertips, customers are searching online more than anywhere else to research a product. As a small business owner, it’s critical that you have a website ready for customers who are looking you up. Understanding why it is important and figuring out where to start can be intimidating. Here’s what you need to know.
As the saying goes, the definition of insanity is doing the same thing over and over again, but expecting different results. So if 2015 was a busy, challenging or downright insane year, it might be time to re-think a few workplace habits as we tear another page off the calendar and hurtle headfirst into 2016.
A phone call or email 'out of the blue' offering you a not-to-be-missed investment opportunity could be a turning point in your life. If you say 'yes' to the deal and the offer is a scam, you could lose thousands of dollars or end up with enormous debts.
Investment scams are often so professional, slick and believable that it is hard to tell them apart from genuine investment opportunities. Our tips break down how investment scams work.
Mobile devices give us convenience and efficiency. Like taking a quick photo of a receipt and submitting an expense claim while on a business trip.
But there are still times when you need the convenience of a larger screen. Sometimes you need to look at multiple things at once. Closing Xero to open a browser, your banking app, Dropbox, then jumping back into Xero does the job, but it’s not efficient.
Why small businesses should switch to inventory management software. How much is spreadsheet-based inventory management costing your business? Chances are more than you think.
Apple’s recent release of the iPad Pro has brought up the question again, can you replace your laptop with a tablet? For some early adopters, the answer is yes.
Xero CEO, Rod Drury, is among those early adopters. He recently made the switch and decided to stick with it. His motivations for doing so:
Procrastinators act as though they have all the time in the world. The truth is, the tasks we put off become the roadblocks that prevent us from moving forward. Breaking this behaviour is as simple as following a few practical tips that will put your time back under your control.
A strong service culture within your business leads to improvements in customer experience and can give your business a competitive advantage in your industry.
Because customers now have more choice than ever — making it even easier to switch suppliers or service providers — field service businesses must work harder and smarter to build relationships with customers and sustain long-term loyalty. Building a service culture within a company is an extremely valuable way to do this, as it leads to opportunities for higher growth and revenue and helps create strong relationships with your customers.
Change. It is the one crucial element an organization needs to be able to execute if it wants to remain relevant and profitable in an increasingly dynamic and challenging global economy. It is also the one vital element that generates the greatest amount of resistance, and throws up the largest number of obstacles to success, than any other business necessity.
Reading a book, finishing a project. Baking a cake. Playing with your kids, throwing a stick with your dog, discussing eastern philosophy with your cat, raising money for charity, writing that novel, painting the house, building your own boat, learning a language, Netflix & chill, making your own jam, mowing the lawn, playing Tetris on your cellphone, discovering an ancient Mayan treasure ...
With many products and services you can increase sales and attract large numbers of new clients by using personalisation.
Personalisation just means you modify what you are selling so that it has more value to a particular type of customer.
Mobile-friendly simply means that your website is compatible with a range of devices that aren’t desktop or laptop computers. This includes smartphones and tablets, which in themselves cover a wide range of screen sizes and resolutions. These smaller devices, especially smartphones, need a website to be attractive and brand-relevant while being functional and easy to use with one hand, a thumb, or several fingers. Multi-touch technology means that users often have a range of ways they interact with the screen, and your site must make it simple to navigate and interact to cover all bases.
We all know by now that it’s essential for a business to have an internet presence; a company website is the mainstay for anyone doing business in the 21st century.
But what about a company Facebook page, Twitter account or LinkedIn profile? Are you losing out on potential customers by ignoring these social networking heavies? Do you panic when you think about how your lack of social media savvy has caused you to miss out on reaching your sales goals?
One of the most frustrating things in life is when you get all fired up and decide to make some big improvements in your results.
So you set goals to get in great physical shape, improve your business results, spend a lot more time with your family etc.
Welcome to 2016!
To help your business start 2016 off on the right foot, we’ve put together a list of changes for business that came into effect from 1 January 2016.