Are You Thinking About Your Tax?

Do you feel like you’re on top of your tax? Do you know how much tax you need to pay? Do you know how to find the right information to work out your tax rate? Have you put money aside during the year for tax?

When you run your own business you don’t have an employer taking out tax from the money you earn but you still need to pay tax and it is your responsibility to take it out of your earnings and put it aside.

It is easy to feel like you are earning a lot when you only look at your before-tax income but the $100 you earn per client could possibly be as little as $69 after tax.

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Why investing in your business is worth the money

One of the hardest things to get your head around when you start a new business, or want to expand your existing one, is spending money to make money.

I don’t mean spending money on things like a printer or a mobile phone. I mean investing in less tangible things, things like mentoring, networking , business development or perhaps even administration staff so you can have more time to build your core business.

Often expensive, this kind of investment can feel very hard to justify because you are spending the money BEFORE you see the return.

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Wondering how much to charge? Ask what you are worth

How much should you charge your clients?

Most wellness practitioners don’t know how much they are worth, not just in financial terms but in what they deliver to their clients and so they have no idea how much they should be charging.

Value = self esteem.

Think about that equation for a second.

Are you proud of the amount you charge or do you resent your clients because you don’t feel you are being paid what you are worth?

Does the amount you charge for your service match your self esteem?

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Contractor versus Employee

When we start to expand our businesses, one of the first things we do, is look to get people to help us; be it another practitioner, a bookkeeper, a virtual assistant. Most of us don’t have the infrastructure for an employee, so we look for a contractor to help us out.

However how do you know if the position you have is legally a contractor role or an employee role? It’s a fine line and one that causes a LOT of confusion for small businesses.

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How to Charge What You Are Worth

How have you decided on the session rate you charge? Have you just pulled a figure from the air? Maybe you just charge an amount because that is what everyone else is charging?

If you’d like to have more confidence to raise your prices, or looking to understand how much you SHOULD be charging for your services, this webinar recording is for you. Continue Reading →

Are you ready for the End of Financial Year?

2015 is flying past and the end of financial year is upon us.

The 30th of June means we all need to do our tax but what else does EOFY mean for your business? Continue Reading →

Passive income – making more money from your existing business

No doubt you’ve heard internet marketers and business coach’s push ‘earning a passive income’ as the best way to build your business.

It’s certainly true that moving away from just ‘swapping your time for money’ and towards a passive income is important for your business, and the phrase ‘earn money while you sleep’ is certainly appealing. But for many business owners it can be hard to know exactly what it is that you can sell and how you go about it.

So, let’s look at the why and how of making money while you sleep… Continue Reading →

Hate business paperwork? You need an admin buddy!

When you work alone it can be very hard to get motivated to do the jobs you dislike. Most small business owners struggle with this problem, but could working with a business-owning friend be the answer? Continue Reading →

Do you find it difficult to ask your clients for payment?

It is amazing how many practitioners, who are so confident performing their session, avoid eye contact and mumble when it comes to asking for money.

So why do highly trained, experienced practitioners struggle to ask for payment? It seems that the answer is mostly a lack of self-confidence. Continue Reading →

How important is cash flow management for small businesses?

Cash flow management is critical for small businesses, and it’s an area of management too many business owners overlook until it’s too late. Continue Reading →

Investing in your business – think value not cost!

If you aren’t investing in your business, then you aren’t moving forward. Yep it’s a bold statement but investing in your business is something I feel passionate about and think is a MUST for all business owners. Here’s why… Continue Reading →