Succession Planning Guide by Xero

Have you got your succession plan sorted for your business?

Xero recently released their “The importance of Succession Planning” Guide specifically aimed at small businesses in New Zealand.

Xero’s succession planning report outlines strategies for working with business clients to plan for a successful exit well ahead of time. It helps advisors start the conversation about this important but often neglected topic.

Succession planning is an important part of your business model, so when GoFi8ure were asked to contribute to Xero’s Guide we jumped at the chance.

Executive Director Lisa Martin truly believes that every business needs to have a Strategy, a way to Execute it and a good Cash flow forecast.

To read the online Succession Planning Guide and the value information provided by these amazing contributors click here to read the guide.

 

NZ Business Magazine – GoFi8ure Accounting Software Specialists

Have you read the latest NZBusiness Magazine? If you are looking at upgrading your accounting software then this article is a must read. Check out page 22 in the magazine or CLICK HERE to read it online.

Contact GoFi8ure, your accounting software specialists to get your accounting software set up and sorted without any stress.

 

 

 

 

 

 

 

 

Change the Way You Do Business

Did you spend 2014 overworked and overwhelmed? How many hats did you wear? The upside about being your own boss is you can decide the details of what you want to do. The downside is more often than not, you have to wear more than one business hat!

What if this year – you could wear the hats you wanted too not had to? Imagine what that could mean for you, your business and for those around you.

Here are some tips on how to “choose what you want to do and outsource the rest”

1. Delegate – Kiwis have the DIY attitude but that doesn’t always work in Business. If there is a job someone else can do then delegate – lessen your to do list!
2. Do the most difficult task first – A lot of us start the day by doing the easy tasks first but that often leaves you tackling the hardest tasks when your energy is sapped. Instead, do the most difficult tasks first.
3. If it isn’t your strength – give the work to someone who knows their stuff. For example, if you aren’t a numbers person, why spend your precious time doing the books when you could pay a certified Bookkeeper to get the job done in half the time.
4. Don’t multi-task – multitasking usually means doing a bunch of things poorly. You’re much better off giving all of your attention to one task that you really hit out of the park.
5. Have a daily plan – If you have a list for all your tasks that day, you will get through the list quicker and feel great about getting them ticked off the list!
6. Ignore your email when busy – It is hard to do but it will ensure you get a good stretch of totally focused work time.

For those who aren’t use to outsourcing, it is a great way to help ease the workload whilst getting the job done. Just remember – You don’t have to do everything yourself. So make 2015 a smarter year for working not harder!

If GoFi8ure can assist with your bookkeeping or accounts please get in touch by emailing enquiries@gofi8ure.co.nz today.

Business Expo 2014

We had so much fun at this years Business Expo. The new premise (Petone Working Man’s Club) was a great success and a lot warmer too!

This year’s expo theme was all about connecting things together, similar to how you would with your accounts. If you didn’t come along this year, make sure you come along next year. There is a lots of fun to be had!

 

 

 

 

 

Verve Magazine October – GST is not yours so don’t spend it

The first in a six month series of Small Business Basics by Lisa Martin, Executive Director of professional bookkeeping and accounting firm, GoFi8ure.

GST is not yours – so don’t spend it

If you run a small business it’s likely you’ll be GST registered. While you don’t have to register for GST if you earn less than $60,000 many small businesses sign up anyway – often because having a GST number looks that bit more professional and who knows how quickly the company will take off and smash through the $60k barrier.

Of course, if you collect GST at 15%. You then have to pay back GST at 15%. GST comes in and then the same GST goes back out to the Inland Revenue. Simple eh?

Well, you would be amazed just how many people find themselves short when they come to do their GST returns and make their GST payments. You see, some people very foolishly think GST money is theirs to dip into. And they genuinely think they’ll pay it back before the GST deadline.

If that’s you, or you are tempted, listen up. Once you start spending or ‘borrowing’ the GST money I can guarantee you, you will not ‘pay it back’ before you have to file your return. The consequences of this will be disastrous. It’s far better not to touch it in the first place. Put it in another account and forget about it. Say out loud, ‘this is not mind to spend’.

One great way of keeping track of your GST is by signing up to Xero. Xero is linked to your bank transactions, so you can see how much GST you’ve collected at any point in time. Xero then helpfully prepares all the information you need so you can do your GST return and make your payment without faffing about for hours with receipts and an excel spreadsheet.

GoFi8ure – Finalist in two prestigious Xerocon Awards categories

We are thrilled to announce GoFi8ure were a Finalist in the prestigious Xerocon Awards x 2 categories.

Xero Bookkeeper of the Year – NZ Xerocon February 2014 – Winner
AND
Xero Marketing Innovation Award – NZ Xerocon February 2014 – Finalist

The GoFi8urines had an amazing time at the Xerocon conference and awards. No Wellington fog was going to stop us from being amongst the best!

A massive congratulations to all the winners, finalists, nominees and partners on the night – it was the most amazing experience to be a part of and everyone who loves Xero is a WINNER in our books!