Difference between a successful and unsuccessful business

Business Success comes if you “STICK TO YOUR KNITTING

David Mortimer from my BNI chapter had his ten minute presentation recently.  Dave is a successful plumber and he gave his four tips for all business people.

Four easy tips to improve your business

  • Firstly he said to sell as much as you can, for as much as you can each month.  Know your numbers and know what you need to sell to be successful.  Talk to us if you don’t know how to do this – Monteck Carter can help.
  • Secondly his advice was to always pay your taxes.  Getting behind with IRD is not a good idea for any business and usually ends in failure.  Many small businesses fall over in this area when they could have avoided it.  We deal with IRD on a daily basis and can assist with any payment issues you have, don’t hesitate to ask us
  • His third tip was around customer service and contained the following great snippets:
  1. Be available – that means answer the phone, reply to people.  How annoying is it when someone doesn’t answer their phone or get back to you, a great customer service tip. 
  2. Look for ways to solve the customer’s problems.  Ensure that you are adding value and making life easier for the client, they will appreciate this.
  3. In his wisdom he has learnt that if you make someone’s day they will use you again.  Always be cheerful and say something to improve your customers wellbeing,  customers remember this and will therefore remember you.  “They are only a customer when they’ve bought from you twice”.
  • Lastly he said “Stick to your knitting“, make sure you know what you are good at and do it well.  His advice was if you do something new, that you haven’t done before and don’t do it well then you will lose money.

Do you want to be successful in business?

These are simple tips which really do apply to all business people and I agree getting these four things right can make the difference between a successful and an unsuccessful business.

The term “stick to your knitting” really resonated with me and I feel that many business people do try to do too many things, wasting time and energy on areas of their business that they could pay others to do for them.  This can give them more time to either increase their chargeable hours or to work on their business and improve their bottom line.

Are you preparing your own GST return?

An example of this that we often come across is where business people are doing their own GST returns.  We find small businesses, where they don’t have an admin person, can spend hours trying to ensure their GST is right when they could get someone to do it for them for a small fee.

If your accounts are on Xero, MYOB, Quickbooks or any other cashbook software product we can prepare your GST for you for as little as $150 plus gst per return.  This is only $900* per year or $17 per week. 

How much time do you need to waste to lose $17 per week?

If you spend more than 30 minutes a week on your cashbook coding then you would be far better off getting this outsourced and concentrating on what you do well.

 “STICK TO YOUR KNITTING”

Talk to us about solving business problems and letting you stick to your knitting.

If you would like us to work on a monthly fixed fee that covers all your accounting and GST needs for the year as well as free queries we are happy to quote for you.  You could be getting all this done for as little as $200 plus gst per month.

‘* Based on six GST returns per annum.

 

Other articles you might find interesting

We don’t just do tax returns 

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