Thursday, 31 July 2014

5 Simple Time Management Strategies To Increase Productivity & Accelerate Your Growth


One thing that constantly amazes me is how quickly each year passes. The days, weeks and months seem to roll into one, and before you know it 6 months has passed. You’re left wondering ‘where did the time go?’

Now that’s okay as long as you plan your year out. However, most people spend more time planning their holidays than planning THEIR YEAR AHEAD.

If you plan  -  you get more done, much more done. If you fail to plan and set goals it’s surprising how little you’ll accomplish.

All the high achievers and successful people in this world identify planning and goal-setting as a major contributor to their success.

Why? Because in addition to giving them a clear roadmap, it also helps them plan their daily/weekly/monthly schedules and with effective management of time it enables them to get a huge amount of work done.

For example, many people who have observed me will say ‘how does Steve get so much done?’ It’s true, I get more done in a day than most do in a week. It takes discipline, but there are some proven tricks and strategies I use to achieve very high levels of productivity and that’s what I want to talk to you about today.

Effective time management is something that isn’t often associated with growing a business, but effective management of your time is a very potent weapon (and conversely poor management of time can be a real business growth inhibitor).

The good news is that it’s not that difficult to massively improve your output if you follow my simple ‘5 Key Time Management Tips For High Performers’. Like everything I will discuss with you in this newsletter, none of these things are difficult or even earth-shattering, but they do make a significant difference as long as you start using them! So here are my key Time Management Tips…

 

Proven Strategies To Help You Build A Better Business

 

Implement these Time Management strategies & create more time to get stuff done!

1. Planning

Plan each month and then each week and then each day based on your goals. The key here is to establish what you need to do each month to accomplish your goals. Then break these tasks down to weekly and then daily tasks. You must always prioritise these ‘goal orientated tasks’ above ‘general tasks’. You’re probably thinking—this will take a lot of thought and time to plan out. You’re right. It does. That’s why so few people do it. That’s why so few people succeed in life. Do not underestimate the power of carrying out this first step—it is the key to your success.

 

2. Work During Your High Performance Times: 

You’ll get much more done in times when your body is alert and active. For many this time is 6am-1pm and 8pm-11pm (but you’ll know when you’re at your best). The worst times are generally after eating! It’s during these high performance times you should carry out your ‘Goal Orientated Tasks’. This one step alone will improve your output significantly—so make sure you only allocate this time to the important tasks! Use the less productive times for ‘general tasks’ and meetings. Here’s why…
 
(1) Since our minds are more active and fresh we can get more done.
(2) Concentrating on the task at hand is much easier.
(3) Our creative juices are flowing when our minds are more active and alert.

 

3. Block Out Your High Performance Times: 

Next make sure you block out your high performance times and under no circumstances let other things get in the way. Again this is key to your success. Treat your high performance times as compulsory appointments (in other words, you can’t cancel them). If you have a secretary or P.A. make sure they understand these ‘appointments’ are never to be broken and replaced with anything else.

 

4. Resist All Distractions:

During your high performance times turn off your mobile, take your office phone off the hook and don’t open your e-mail programme. Even one interruption can set you back an extra 15-30 minutes not including the time of the interruption. This does take a high level of discipline. In the early days you will find the temptation of leaving your phone or email programme on hard to resist, but I promise you, this will slash your effectiveness by at least 50%. Once you force yourself to reduce your distractions to zero, you’ll find it very liberating!

 

5. Tell Staff (and family):

You must explain to staff and family that unless it’s an emergency you are not to be disturbed during your high performance times. 

By adhering to these 5 key time management tips I guarantee you’ll get so much more done. This translates to greater income and more success—worthy outcomes don’t you think?

Subscribe to Our monthly newsletter that is crammed full of easy-to-apply business building strategies similar to this. Make sure you don't miss a hint on Business Strategies.

Monday, 28 July 2014

HMRC Task Forces Launched September 2013!

HMRC announced 4 new task forces that will investigate tax evasion in specific commercial and geographical sectors. The task forces bring together various compliance and enforcement teams for what they term “intensive bursts of targeted activity”.






The new task forces will investigate the following:

•    Construction industry in London (expecting to raise £3 million)

•    Security guards, bouncers and their employers in London and the South East (expecting to raise £10 million, with fraudulent VAT repayment claims identified as an increased risk in this sector)

•    Second-hand motor traders in the Midlands (expecting to raise £3 million)

•    Hidden wealth / “means” issues in the Midlands (also expecting to raise £3 million from comparing lifestyles to known assets)

If you know anyone involved in the above sectors who are having tax concerns, please ask them to contact us at 020 89310165 for advice!

Friday, 25 July 2014

Mortgage Market Review 2014

Significant changes have come into effect as a result of the Mortgage Market Review (MMR).  Tougher mortgage rules mean that lenders will have to carry out detailed checks on a borrower’s spending and stress-test ability to pay if interest rates go up. 

The changes came into force from 26th April 2014 and for borrowers mean that they will have to account for all outgoings.  They will face additional questions focused on imminent changes to their lives which will need to be backed up with evidence.

FCA Mortgage Market Review 2014
The regulator behind the new rules, the Financial Conduct Authority (FCA), said they would "hardwire common sense into the mortgage market", and prevent a return to irresponsible lending that took place in the run-up to the credit crisis.

APJ Accountancy comments:

“Some lenders adopted the rules earlier this month, but the changes will mean that anyone who applied for an agreement in principle on a loan several weeks ago, or who has applied for a mortgage and wants to make a material change - perhaps borrowing more – will have to start the application process from scratch.”

For further information, please contact us at 020 89310165
 
We are a team of Chartered Certified Accountant regulated and monitored by The Association of Chartered Certified Accountants (ACCA).

Wednesday, 23 July 2014

FRS 102 - New Accounting Standard!

FRS 102 - New Accounting Standard for year ends commencing on or after 1 January 2015

On 14 March 2013, the Financial Reporting Council (FRC) published FRS 102 – the Financial Reporting Standard applicable in the UK and Ireland.  The adoption of FRS 102 will affect all businesses.

FRS 102 – the Financial Reporting Standard
Source : https://www.frc.org.uk
This FRS aims to provide entities with succinct financial reporting requirements. The requirements in this FRS are based on the International Accounting Standards Board’s (IASB) International Financial Reporting Standard for Small and Medium-sized Entities (IFRS for SMEs) issued in 2009.

It means that there will be several changes to the way a business’s accounts are prepared and there are a lot of issues that business owners must consider in advance of the 1 January, specifically you may need to change some or all of your accounting policies.

FRS 102 also requires comparative amounts shown in accounts and this will involve careful consideration before finalising your next set of accounts.

The standard can be downloaded from:
www.frc.org.uk

For more information on the FRS 102 or to discuss the implications, please contact us at ☎☎ 020 89310165 ☎☎

Monday, 21 July 2014

12 Key Points from Budget 2014!

The Chancellor’s 2014 Budget was clearly aimed at winning the votes of savers, pensioners and those paying for expensive childcare. Increases in ISA limits, a £5,000 zero rate band on savings income, more flexible pension drawdown rules and an increase in the proposed childcare tax relief to £2,000 reflect this goal. There was also good news for businesses with the extension of the Annual Investment Allowance until 31 December 2015 and an increase in the qualifying spend up to £500,000 from April 2014.

George Osborne - Chancellor's Budget 2014

1. Personal Allowances
Personal allowances are fixed for 2014/15 at £10,000, the level promised in the Coalition Agreement. However, the Budget announced that there will be a further (above inflation) increase to £10,500 for 2015/16, in line with the allowance currently available to taxpayers aged 65 to 74. Those aged 75 and over will continue to receive a personal allowance of £10,660. Note that if adjusted net income exceeds £100,000, the personal allowance is reduced by £1 for every £2 over £100,000. This gives an effective rate of 60% on income between £100,000 and £120,000 for 2014/15. Contact us for planning advice to avoid this 60% rate.

2. Income Tax Bands
The 20% basic rate band is £31,865 for 2014/15 and will be £31,785 for 2015/16. This means that you pay 40% tax if your taxable income exceeds £41,865 for 2014/15 and £42,285 for 2015/16.
The 45% top rate continues to apply to taxable income over £150,000 for 2014/15.

3. Important Changes To ISAs
In order to encourage savers, the current £11,520 ISA limit is to be significantly increased to £15,000 from 1 July 2014. Furthermore, the current 50% cash ISA limit of £5,760 is to be abolished so that any combination of cash and stocks and shares can be held within the ISA wrapper up to the overall £15,000 limit. These products will be termed “New ISAs” or NISAs. The Junior ISA limit will increase to £4,000 from 1 July 2014.

4. More Good News For Savers
The 10% starting rate will apply to the first £2,880 of savings income for 2014/15. However, this rate will be abolished and replaced with a zero rate on the first £5,000 of savings income from 2015/16 onwards.

5. Capital Taxes
It had already been announced that the CGT annual exempt amount would increase to £11,000 for 2014/15 and £11,100 for 2015/16. With a top CGT rate of 28%, this allowance potentially saves just over £3,000 a year, or £6,000 for a married couple.

There has been no change in the inheritance tax nil rate band, which remains at £325,000 until 2018.
Please contact us if you wish to discuss capital gains tax and inheritance tax planning, as we can help you take advantage of these valuable allowances.

The only significant change to inheritance tax is the proposed extension in the exemption that applies to the military who die on active service to those in the emergency services.

6. New Flexible Pensions
There are significant changes being proposed which will make it easier to access your pension fund pot if you have a defined contribution (money purchase) pension scheme. As a general rule, 25% of the pension fund can be taken as a tax free lump sum at age 55, although this age will be increased in future to be 10 years before State Pension age (age 57 in 2028). Remember also that the requirement to buy an annuity at age 75 had already been abolished with the introduction of “flexible drawdown” pensions that are currently available.

From 27 March 2014 the Government have increased the maximum amount you can take out each year from a capped drawdown arrangement from 120% to 150% of an equivalent annuity. For example, if the equivalent annuity rate is 6%, then up to 9% of the fund can now be drawn down each year. This is in response to concerns about low annuity rates which are linked to savings rates.
The Government has published a consultation document to consider proposals to make the drawdown rules even more flexible from April 2015. This would allow you to withdraw more than the current 25% of the fund limit, subject to a tax charge. This charge would be at your marginal tax rate instead of the current penal 55% charge on the fund.

The other significant change being consulted on is the proposal to reduce the current limit of £20,000 guaranteed pension income to just £12,000 a year. Those with this level of guaranteed pension income will be able to draw as much or as little as they wish from their pension fund each year without the 150% of equivalent annuity rule applying.

7. Corporation Tax Reductions
From 1 April 2014 to 31 March 2015, the main rate of corporation tax is 21% where a company’s profits exceed £1,500,000 (divided by companies under common control). The 20% small profits rate continues to apply to companies with profits up to £300,000 (also divided as above). As previously announced, a single corporation tax rate of 20% will apply from April 2015 whatever your level of profits.

8. Annual Investment Allowance Increased To £500,000
The Annual Investment Allowance (AIA) provides a 100% tax write off for the cost of most plant and machinery acquired by businesses, a notable exception being motor cars. This allowance was temporarily increased to £250,000 on 1 January 2013 and was due to reduce back down to just £25,000 on 1 January 2015. The Chancellor has announced that the allowance will be increased to £500,000 per annum for expenditure incurred between 1 April 2014 and 31 December 2015 (the change takes effect from 6 April 2014 for unincorporated businesses). Remember that the AIA is available for assets bought on hire purchase as well as those bought for cash. It can also be claimed in respect of fixtures and fittings within buildings. Contact us to help you maximise tax relief for capital expenditure, as the timing of expenditure can be critical.

9. R&D Tax Credit Rate Increased
Companies that are small and medium sized enterprises (SMEs) carrying out qualifying research and development can currently claim a corporation tax deduction of 225% of their qualifying spend. This means that £100,000 spend would result in a £225,000 reduction in taxable profits, potentially saving £45,000 corporation tax (at 20%). However, if the company is loss making this benefit may not be received until future years when profits are made. In order to improve the cash flow of these loss- making SMEs, the tax rules allow the company to surrender the loss attributable to the enhanced R&D spend for a tax refund. This has been increased from 11% to 14.5% with effect from 1 April 2014. So the £225,000 (based on £100,000 spend) would result in a refund of £32,625. Contact us if you would like to discuss whether your company could qualify for R&D tax relief.

10. New Tax-Free Childcare Scheme
This new scheme, which starts in Autumn 2015, was originally announced in 2013 as being worth up to £1,200 per child. It has now been announced that the Government support will be even more generous with the limit being increased to £2,000 per child per year. The parents will be required to open a special childcare account. If for example they pay in £8,000, the Government will top this up to £10,000 (like pension contributions and Gift Aid) which can then be used to pay their childcare provider. It is not just parents who will be able to pay into the childcare account but grandparents and other family members will also be able to contribute to the childcare costs. To qualify, both parents will have to be in work, earning just over an average of £50 a week and not more than £150,000 per year.

Unlike the existing employer-provided childcare voucher scheme which is only available to employees and directors, this new scheme will also be available to the self-employed. Those in existing employer provided schemes have the option of staying in their employer scheme (up to £55 a week free of tax and NIC) or switching to the new scheme. To support newly self-employed parents, the government is introducing a ‘start-up’ period. During this, self-employed parents won’t have to earn the £50 a week minimum income.
It was originally proposed that the new scheme would be phased in, initially only applying to children under 5 and gradually extended to those under 12. It is now proposed that children under 12 will be eligible from the outset. If your circumstances change or you no longer want to pay into the account, you’ll be able to withdraw the money you have built up. If you do, the Government will withdraw its corresponding contribution.

11. Vat Registration Limit £81,000
The VAT registration limit has been increased by £2,000 to £81,000 from 1 April 2014. The de-registration limit also increased by £2,000 to £79,000.

12. Seed Eis Relief To Be Permanent
Seed EIS was introduced in 2012/13 to provide tax relief for individuals investing in small start-up companies and was originally scheduled to end on 5 April 2017. It was announced in the Budget that the generous tax breaks would now be made permanent:
- A 50% tax reducer on up to £100,000 invested each tax year
- A 50p reduction in capital gains made for every £1 qualifying Seed EIS investmen


Contact us if you need advice on these and other tax-efficient investments.
 
Stay tuned to our blog for more UK Accounting news and information.

Wednesday, 16 July 2014

Wi-Fi Network - Risks & Security

It is almost expected that businesses offer Wi-Fi as a facility to their customers these days. However, having a guest Wi-Fi network adds a security risk to your business. Using appropriate security software, firewalls, etc. can help mitigate against such risks.

Securing your wireless access points will help you to protect your network from hackers, viruses and malicious software. Hackers no longer need to hack into their victims computer directly and can obtain personal information simply by being connected to the same network as that user.

Wi-Fi Network Security Threats
Even in a scenario not involving identity theft, unauthorized access uses network resources and having a large number of people connected to a single network could slow a home or office network substantially. A strong password paired with suitable router settings could reduce the risk of unauthorised access and ensure that your data is protected.

You should secure you Wi-Fi network with a password. If you have a guest network for your customers, you should password protect this too and change the password regularly. Your customers can be provided with the password if and when they need to access your network.

Most wireless access points come with either a default password such as "Admin", "password", or some other simple phrase that is meant to be used to configure the device for use the first time it's connected. After configuration, this password should be changed. There are several encryption types from WEP-16bit to WPA2. A good rule of thumb to remember when choosing an encryption type is to choose a type that is both secure and suits user's needs. For most purposes WEP-64 or WEP-128 bit encryption should be enough for most standard home or small business networks. However, WPA or WPA2 could be the best choice if higher security is needed (for example if your business stores highly sensitive documents such as customer financial information).

Wireless security is often perceived as something complex and difficult.  However, in reality it is fairly easy and many of the same steps used to secure a standard desktop or laptop computer can be applied to wireless security as well. However, ultimately it's up to the user to research their security needs and then implement a proper solution for the needs of their business.

Stay tuned to our blog to know more on how to run your business successfully.

Visit www.apjaccountancy.com for more information and help for running Small Business and Contractor Business.

Tuesday, 15 July 2014

5 simple steps for a Perfect Elevator Pitch!

Our “elevator pitch” is the short, concise answer to "What do you do" that you can give in the time it takes you to move up a couple of floors in an elevator with someone. So, as a contractor or small business, if you were to write your elevator pitch today how would you do it?

5 Steps for a Perfect Elevator Pitch


Here are a few tips:

1.    To begin with, write down one sentence about who you are and what you do. This can be something along the lines of "I am an accountant who works with local businesses and helps with business planning in addition to the traditional audit and tax services."

2.    Next, write one sentence describing the benefits of what you do. Focus on the customer and what they gain as a result of engaging your services.

3.    The next step is to describe your ideal clients and/or customers. For example you could say, “In general, I specialise in the SME sector, working with owner managed businesses. In particular, I have helped a lot of owner-managers with succession planning issues.”

4.    Now you need to describe what makes you and your firm unique. This is your value proposition – what it is that you can offer to your client that they will value and that your competitors do not or cannot offer.

5.    The final part of your elevator pitch is the most important – asking for the business. This can be something subtle such as, “perhaps we could meet for a coffee next week to discuss the requirements of your business and identify areas that I can help you with”.

Your elevator pitch is now complete. Type it up, save it, print a copy to keep in your briefcase and memorise your pitch so that you have it with you when you need it (which could well be in an elevator!)

Don't forget that the elevator pitch has to be short and intriguing at the same time.

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Monday, 14 July 2014

Tips for Motivating Your Team


Learning how to manage a team effectively is one of the most difficult skills any manager has to develop. Keeping your team motivated, enthused and focused on the firm’s goals is critical to the success of your business, but how do you do that exactly? Here are a few tips to help you motivate your team and bring them with you as you strive to move your business forward.

It starts with you - Your team will look to you for guidance and inspiration. No matter what sort of a day you've had, pull it together and be a role model of positive energy whenever you're in sight. Your team will follow suit.





Be open - Share information. Keeping everything as open as possible will lend a sense of ownership to the team. Your employees will feel a part of the business, and once engaged, will often provide suggestions for improvement.

Set Goals - Set targets for your team and let them know when they get there. Don’t forget to provide regular feedback to the team. Let them know how they are doing and congratulate them when milestones are achieved.

Listen to your team – they need to know that you understand (and care about) their concerns, challenges and problems.  Never assume that because someone worries often that they worry about nothing - often team members will spot potential issues long before they happen. Give feedback, acknowledge that you have listened to what your team has to say and provide them with answers where possible.

Give them ownership - Let your team have responsibility and a degree of autonomy for their part of a project. Allowing them to take control will give them ownership and a sense of personal responsibility. They will want to impress you and win your approval. This can only benefit your business.

Have you tried any of these? Share any tips that you have used and that worked well.

Feel free to contact us if you need further information onhow to successfully run your business.

APJ Accountancy -Together We Will Make It Happen!

Thursday, 10 July 2014

Confirmation of Income for Mortgage Purposes

Many mortgage lenders are now requesting a copy of the official HMRC tax calculation (SA302) as confirmation of income for mortgage applicants; Previously, they would have accepted income confirmation by the borrower’s accountant. There is thus a conflict between planning to minimise income for tax purposes and declaring a higher level of income to support a mortgage application.

A further problem is that the SA302 HMRC calculation cannot be downloaded from the HMRC website when third party software has been used to submit tax returns, and copies are not routinely sent out by HMRC. To obtain a SA302 calculation you are required to phone HMRC and ask for the form to be sent out by post. This usually takes about 14 days.
Income for Mortgage Purposes

The accountancy bodies are calling for HMRC to allow accountants to download and print off the SA302 for their clients to support their mortgage applications.

Subscribe to our monthly tax newsletter designed to keep you informed of the latest tax issues. Contact us if you need further information on any Taxing, Accounting or Bookkeeping issues.

Monday, 7 July 2014

Limited Company vs.Sole Trader or Partnership

Are you thinking of operating as a limited company against partnership or the vice versa? Choosing the option depends on a lot of factors like your investment, revenue, taxes, etc. and mainly on what your needs are. Opting the wrong option could impact your business negatively.


Limited Company vs. Sole Trader/Partnership

Here are some basic differences listed between Limited Company and Sole Trader/Partnership:

Company Sole Trader/Partnership
A company must be formally incorporated with a written constitution in the form of a Memorandum and Articles of Incorporation. There is, therefore, an initial setup cost. There are no formation costs, but a written partnership agreement is advised.
Companies are governed by the Companies Acts. A company must:-
- Keep accounting records
- Produce audited accounts (if turnover > £6.5m)
- File accounts and an Annual Return with the Registrar of Companies. This information is available to the public.
- Keep Statutory Books
Sole traders and partnerships are not required by law to have annual accounts nor to file accounts for inspection. However, annual accounts are necessary for the Inland Revenue tax returns.
Companies may have greater borrowing potential. They can use current assets as security by creating a floating charge. Sole traders and partners are unrestricted in the amount and purpose of borrowings but cannot create floating charges.
Incorporation does not guarantee reliability or respectability but gives the impression of a soundly based organisation. Personally, there may be prestige attached to directorship. The unincorporated business does not carry the same prestige.
Tax is payable on directors’ remuneration paid via PAYE on the 19th of the following month. If applicable, higher rate tax is paid by shareholders on dividends under the self-assessment rules.
Corporation tax is payable 9 months after the year-end.
For a sole trader or partnership, tax is generally paid by instalments on the 31 January in the tax year and the 31 July following the tax year. For an ongoing business tax for 2012/13 is payable:- first payment on account on 31 January 2013, second payment on account on 31 July 2013, with any final balance due on 31 January 2014. For a start-up business this is slightly different and covered in more detail later in this publication.
First year losses in a company can only be carried forward to set against future profits. Losses generated by a sole trader or a partner can be set against other income of the year or carried back to prior years.
For profits up to £300,000 tax is charged at 20% (2013/14) Profits are taxed at 40% on taxable income in excess of £32,010 and at 45% over £150,000 (2013/14)
There is both employers’ and employees’ national insurance payable on directors salaries and bonuses. The NI charge is greater than that paid by a sole trader/partner, but there is no NI charge on dividends. A partner/sole trader will pay Class 2 NI of £2.70 p.w. (2013/14) and Class 4 NI dependent on the level of profits.
Shares in a company are generally transferable –therefore ownership may change but the business continues.

Know the differences and wisely choose the best option not only fulfilling your short term needs but also your long term business standing.

Still can't figure out what to choose? Contact us and Arrange Your FREE No-Obligation Meeting to know more. Call us at 020 89310165

APJ Accountancy - We are a team of Chartered Certified Accountant regulated and monitored by The Association of Chartered Certified Accountants (ACCA).

Saturday, 5 July 2014

Beginning the Marketing Journey!


Marketing plays a key part in business development. Are you a small business venturing into marketing for the first time, here are some simple tips on what do you do and how do you do it?

First of all, remember the golden rule – “If nobody knows who you are, what you do and the how they could benefit from your product or service, the phone will never ring and you will fail to win new business”. 

Know your market


You need to identify who your potential customers are. Do your research, identify the socio-economic groups who are likely to need your product or service. Now educate them – aim to demonstrate to your potential customers what your product / service offering is, the benefits to them of purchasing from you and let them know how to get in contact with you should they wish to do business.

Avoid copying others

Learning from your competitors is one thing. “Me-too” marketing is another. Simply copying your competitors will not win new business for you. Instead, observe what is working for your competitors and tweak the strategy in order to develop a new marketing message which is unique to you and your business and differentiates you from the competition.

If in doubt, ask for help

Many business people will spend time, energy and lots of money doing the wrong thing and getting poor results before deciding to buy in a little help. Be honest with yourself, if you don’t have the expertise in-house, commit a little bit of budget to getting advice from a marketing agency or consultant.

Invest in marketing materials

Decide what marketing materials are most appropriate for your business. Do you need a website, business cards and brochures? Ask yourself, how do your customers find out about you and your competitors. If the answer is “online”, then you need a website. If the answer is “through referrals” then you need to embed yourself into the local business community by joining local interest groups, the chamber of commerce, etc.

Communicate

As per the golden rule – you need to make sure that people know who you are, what you do and what the benefits of purchasing your products or services are to them. Write articles for the local and online press, start an email marketing campaign, host seminars on industry topics and start communicating with your customers. If you are offering the right product or service and people know where to find you and that you are knowledgeable, the sales will come.


Please contact us if you need any help(back to point 3) or like to discuss any of the issues, please feel free to comment below or contact us at 020 89310165
APJ Accountancy - We are a team of Chartered Certified Accountant regulated and monitored by The Association of Chartered Certified Accountants (ACCA).
 

Wednesday, 2 July 2014

Importance of Strategic Planning!

“A sailor without a destination cannot hope for a favourable wind”

As we move closer to summer, many of us are nearing our holidays – a time we can use to both reflect on the year so far and look towards the next few months and beyond.

It is a well-known fact that the businesses that plan tend to outperform those that don’t and yet many business owners fail to perform this important task. I am a great believer in the planning process; in my opinion, the time needed to create a proper business plan is worth its weight in gold.

Importance of Strategic Planning




The most important plan is the strategic plan as this helps to clarify key goals, facilitates the reporting of the most important performance indicators, provides the specific actions needed and  creates accountability.   These 4 areas significantly increase our chances of doing what is necessary to arrive at where we want to be.  Indeed, it is the “doing” that is the number one factor to a successful business.

If you are looking to undertake some strategic planning and would like any help, I would be pleased to show you how the process works.  I would also be happy to facilitate this process with all the key people in your team.

Please let me know if this is something you would like to know about.