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10 ways to improve business perfomance

Paul Martin • Jul 18, 2023

Supercharge your business with some simple tips. Eliminate distractions and bad customers, get a plan, use technology, deploy marketing and understand your business numbers. We have got lots more ideas to improve performance - talk to us. 

Here are ten ways to make sure that you continue to drive through each business quarter with purpose, vision and the courage to super-charge your business.


1. Eliminate distractions: Time is the scarcest resource and biggest killer for most businesses. When we get busy we can also get distracted and focus too much time and energy on the wrong things. Be brave - slash standard meeting times, reduce unnecessary admin and delegate roles and responsibilities.


2. Say goodbye to bad customers: If possible in your business, get rid of ten time-wasters, bad payers, or customers who cause you pain. You will feel instant relief and spend your time better elsewhere.


3. Invest more: Having freed up time and headspace from deploying points one and two above, make sure you ring-fence time, key people, and money for some of the initiatives below. Redeploy with passion!


4. Get a plan: You don't go on a journey without a map or any idea of where you're headed - so why fly blind with your business? Have a planning process, create a kick-arse plan - and execute. We can help you get started.


5. Surround yourself with positivity: Make sure the people in your business understand and share your vision. Bring them onboard, listen to them and give them ownership. Don't let people who don't get it, or don't care, be a millstone around your neck. If they're not right, do them a favour and free up their futures.


6. Use technology: Technology can help you decrease administration, improve communications, improve reporting and accountability. Whether it is for team communication or cloud accounting, slash paper and automate where possible.


7. Keep on top of the numbers: Do you have enough information to monitor business cashflow and see emerging trends? We can help you identify the metrics to track on a regular basis, in order to run your business efficiently.


8. Be different: Break the mold and position yourself to attract ambitious, growing and engaged clients, and employees.


9. Deploy marketing: Create a simple marketing plan to increase reach and penetration. Set aside a budget to treat this seriously. Start by making sure you really understand your customers. Existing customers are prospects too, keeping them happy is your first step. The more you know about them, the easier it will be to attract more of the same.


10. Take a break: Do not underestimate the time you have away from your business. It can allow you to come back refreshed with new enthusiasm and inspiration for the way forward.


We can help you get started with improving your business performance. Please contact us today for an appointment.

How the new Government and coalition agreements might affect owners of residential rental properties

By Paul Martin • 04 Dec, 2023
There were some key takeouts of interest to many of our clients from the recently signed coalition agreements between National, ACT and New Zealand First and the formation of the new Government. In particular there are a number of policies which will likely benefit landlord clients who own residential rentals. I have summarised some of these below. 1. Return of Interest deductibility for residential rental properties Interest deductibility for residential rental property owners will return. It will be phased back in over three tax years: • 2023/24 tax year: 60% of interest cost will be deductible. • 2024/25 tax year: 80% of interest cost will be deductible. • 2025/26 tax year: 100% of interest cost will be deductible. 2. Reduction in bright-line period National signalled in their pre-election campaign that the bright-line period for residential rental property sales would reduce from 10-years to 2-years. While the exact implementation of this policy is not yet known, it is good news on the horizon for residential property investors. 3. Reinstatement of 90-day no-cause termination notices The new government will reinstate 90-day no-cause tenancy termination notices. This will avoid many unnecessary disputes in the Tenancy Tribunal and gives landlords more confidence in letting to possibly “marginal tenants". Many landlords have avoided what they considered to be risky tenants because eviction for anti-social behaviour was so difficult. With this reinstatement, landlords might be more inclined to give a marginal tenant a chance because they know that if the tenant misbehaves, they won’t be stuck with them. If you would like more information on how these changes might affect your personal circumstances, please feel free to contact us to discuss further.

How does provisional tax work, especially in an economic downturn?

By Paul Martin • 18 Jul, 2023
If you had to pay tax of more than $5,000 in your last income tax return, you may have to pay provisional tax for the following year. Provisional tax is like making progress payments on next year's income tax.

How to handle inflation as a sole trader

By Paul Martin • 18 Jul, 2023
Sole traders have had an especially difficult few years as inflation surges. We have got three tips to help lighten the load for your sole trader business. 
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