Posted on

What Bookkeepers Can Learn From Real Estate Agents: Sales Pitches

Never Fear: A “Sales” Pitch Can Really Just Be a Conversation

bookkeeping sales pitch
You actually don’t need to be ‘salesy’ at all; just find out how your services match another person’s needs.

After you’ve set the correct prices for your bookkeeping services, it’s time to perfect your sales pitch. It’s good to think about the way real estate agents sell a property to prospective buyers: Good sales agents don’t pitch to the buyer at all. Instead, they get to know the buyer and their needs. If that happens to suit the property they’re selling, they tell them so. If it doesn’t they tell them that too. Often, they’ll mention another listing they have that might better suit the buyer.

A successful sales pitch isn’t really a pitch at all. Remember that. It’s a conversation with a prospect to determine if their business needs and your services are a good match. If you set your prices correctly, by valuing your services strategically, then you should have only attracted prospects that fit a particular profile of your ideal customer.

The Three Elements of a Sales Pitch

Think of a sales pitch as possessing three key elements:

  1. Identify problems the prospect needs solved: The first step is to identify their business problems, so you can offer a solution. If a prospect identifies “poor cashflow” as a problem, ask them if they’re invoicing regularly, have set up clear payment terms, have implemented a credit management policy. From here, you should determine what services they’re in need of, and explain those to the prospect.
  2. Provide references: There’s no getting around this, unless you’re willing to work for free on a trial basis, something you should absolutely avoid. Real estate agents refer prospects to vendors they’ve represented previously, so you should do the same. If this is your first client offer to do some small task (daily reconciliations, say) as a one-off service, paid of course. Remember, a plumber or electrician doesn’t offer to work for free — they don’t even provide references. You don’t have to work for free, either. 
  3. Explain your process: Be clear about how you work straightaway. Most misunderstandings between businesses and freelancers or contractors occur because neither party agreed to a particular process in the beginning. If the business has contacted you, then you have the upper hand. Outline the procedure for getting work to you, payment terms, etc. If you contacted them first or responded to a job advertisement, you’ll need to work in with their processes, so be sure the opportunity is right for you before agreeing to it.

Don’t be a Commitment-Phobe in Business

closing the sale bookkeeping

Always remember to end the conversation by asking for a commitment. This is still a sales pitch, after all, so you need to make some business proposition that they agree to. You may propose to provide a small paid-task obligation free, to see how they like working with you, before they sign onto to a long term commitment; you may ask if you can contact them again in the future, if they don’t seem quite ready for your services right now (get their business details, add them to your marketing database).

***

Understanding the value of your services and how to pitch them to clients is vital to your business’s success. Our EzyStartUp Course covers researching the market, setting prices, and an introduction to marketing and business planning, plus much more. If you’re starting a bookkeeping business or you already have started on, enrol in our EzyStartUp Course to ensure you’re not selling yourself short.

Posted on 3 Comments

What Bookkeepers Can Learn From Real Estate Agents: Setting Prices

Don’t Reinvent the Wheel: Glean Relevant Info from the Property Industry

how much to charge as a bookkeeper
As a bookkeeper you can learn much from the humble, or not so humble, real estate agent!

As a bookkeeper, or someone thinking about becoming a bookkeeper, you may be surprised how much you can learn from real estate agents. For an example, take the way a real estate agent has to price a property for sale.

The key to selling a property quickly and efficiently, is setting the right price. A real estate agent who sets a price that’s too high for the market, isn’t doing her or his job properly. In such cases, the property will sit around for many weeks, or possibly even months, until the price is eventually reduced to one the market will bear, sometimes to well below market value. Real estate being what it is in this country, agents rarely undervalue their properties. When a buyer tells their friends they got a great deal on their new home, it’s usually due to the property being originally overvalued, rather than undervalued.

Most New Contractors Set their Prices Wrong

When business people, such as first-time or newly contracting bookkeepers, first start freelancing or contracting professional services to other businesses, very few know what their services are actually worth. Therefore they frequently overvalue or undervalue themselves. In the case of the former, they’ll discover pretty quickly that they’re overpriced (they don’t get any clients), but in the case of the latter, it may take a while longer to determine that they’ve undervalued themselves and their services.

The lesson bookkeepers can learn from real estate agents — good ones, at least — is to never do either. Here’s how you should value your booking services, to set the right price, just like a real estate agent would.

Value Your Services Like a Real Estate Agent

Know Your Market:

We cover this in our EzyStartUp Course; and it’s important to note that knowing your market isn’t simply confined to the start-up period. Continue to look at the market throughout the life of your business, because times change and you need to move with them. When we first put our training content online, we were one of the first training companies to do it; now you can do a whole university degree online!

Value Your Services Strategically:

Have you ever seen a real estate agent market a property as being identical to another one, even if it’s right next door? As a bookkeeper, you’re already competing in a crowded space, so always establish a point of difference between you and your nearest competitor(s) — a niche industry, a particular way of doing business. Whatever it is, find it, and capitalise on it.

Don’t Try and Be All Things to All People:

Know where to find your customers. Real estate agents know where their buyers come from and precisely what they’re looking for, then they market directly to them. You should do the same. Think about your local market, your services, and the type of customer who’d be looking for a business like yours. Then market to them and them only. Don’t waste marketing money trying to be all things to everyone.

***

Valuing your services correctly, and setting the right prices, is vital to the success of your business. Our EzyStartUp course covers researching the market, setting prices, and an introduction to marketing and business planning. If you’re starting a bookkeeping business or you already have started on, enrol in our EzyStartUp course to ensure you’re not selling yourself short.

Posted on 1 Comment

MYOB, Xero or QuickBooks: Which Suits Your Business Best?

Which is the Pick of the Bunch?

xero myob or quickbooks which is best
It’s a competitive accounting software market place out there … which is the pick of the bunch for you?

IN A PREVIOUS POST, we highlighted some of the biggest differences between QuickBooks and MYOB

However Xero is also a serious competitor to MYOB (and QuickBooks to a lesser degree).

So let’s take a look at the different capabilities of each accounting application and the kinds of businesses they best suit.

Continue reading MYOB, Xero or QuickBooks: Which Suits Your Business Best?

Posted on 2 Comments

Is QuickBooks Better than MYOB for a Small Business?

How Does QuickBooks Really Stack Up Against MYOB?

compare QuickBooks and MYOB
QuickBooks is a much simpler accounting package to use than its rival, MYOB.

WE RECENTLY INTRODUCED our QuickBooks Online Daily Transactions Course because we can see that QuickBooks is fast becoming a serious and respected rival to the more established accounting software packages.

We recently wrote about how QuickBooks uses the SuperStream-compliant service KeyPay to deliver payroll services because QuickBooks itself isn’t actually SuperStream compliant. Currently, the payroll feature in QuickBooks is free for all Small Business plans, as the company further positions itself as the low-cost accounting software option for Aussie small businesses.

Continue reading Is QuickBooks Better than MYOB for a Small Business?

Posted on 2 Comments

QuickBooks Isn’t SuperStream Compliant, But It Doesn’t Matter!

How QuickBooks Palms Off Payroll

quickbooks superstream compliant
Quickbooks is gaining traction in the Australian marketplace.

I’m a fan of QuickBooks as the functionality is excellent and the cost of the software is still low. I’m really pleased to announce that you can now enrol in our QuickBooks Online Daily Transactions Course — but does QuickBooks fulfil Australian legal obligations to be SuperStream compliant?

The background is that from July 1 this year, all Australian businesses with fewer than 20 employees were required, by law, to be SuperStream compliant. SuperStream is a government initiative to improve the efficiency of Australia’s superannuation system, namely by making superannuation a totally electronic process.

Most cloud-accounting packages that have been developed for the Australian market (such as major applications, like MYOB, Xero, Reckon and so forth, but not smaller apps like Zoho or QuickBooks, which can be used in Australia but don’t interface well with Australian tax procedures) are now all SuperStream compliant, with one exception: QuickBooks.

KeyPay: The Payroll Partner of QuickBooks

Earlier this year, a student contacted us to say that QuickBooks wasn’t listed as being SuperStream compliant on the ATO website. We thought that was strange, because we’d previously spoken to Margaret Carey of Business Eez, who’d confirmed that QuickBooks, along with all the other major cloud-accounting apps, was SuperStream compliant.

So just what’s going on?

As it turned out, QuickBooks itself isn’t listed as being SuperStream compliant because it doesn’t, technically, provide any payroll services. It’s partner, KeyPay, does. KeyPay is owned by an entity called Webscale, and Webscale is SuperStream compliant. It uses ClickSuper as their superannuation clearing house. In other words, although QuickBooks itself isn’t SuperStream compliant, it doesn’t matter because they’re partnered with a payroll company that is SuperStream compliant.

You Can Be SuperStream Compliant for Free

If you’re not using a cloud accounting application that’s SuperStream compliant because you’re using Freshbooks or Zoho, for example, or because you’re not using any account software at all (although, in this case, you need to stop being silly and implement an electronic procedure for managing your accounts now), there are still other, free options to ensure you’re SuperStream compliant.

The ATO’s Small Business Superannuation Clearing House is free for businesses with fewer than 20 employees and an aggregated annual revenue of under $2 million. You can register your business details with the Small Business Superannuation Clearing House and use it to make super contributions to your employees.

Alternatively, the superannuation fund, AustralianSuper, has its own clearing house, which is free to use for its members (i.e. as a registered employer using AustralianSuper as your default super fund). AustralianSuper’s clearing house, called QuickSuper, allows members to make electronic super payments regardless of the number of employees or whether the employee belongs to another super fund.

Need a Good Local Bookkeeper to Help Manage Your Financials?

National Bookkeeping Online DirectoryWhether you are a bookkeeper keen to expand your client base or perhaps work remotely, or whether you’re a business person needing some vital bookkeeping advice and assistance, check out our newly updated, online National Bookkeeping Directory. Our goal? To match experienced and highly qualified local bookkeepers to local businesses around Australia.

But of course, with cloud accounting technologies, you are not limited to only working locally. Plenty of our bookkeepers and accountants work remotely for clients located all over the country.

*****

Want to know still more about SuperStream? You can read lots more about SuperStream on our blog.

 

Posted on

Are You a Bookkeeper Who Needs More Clients? Want My Advice?

FINDING PROSPECTS AND converting them into clients involves selling and most of us hate doing it, but wait…

If you are a bookkeeper, selling online MYOB training courses to your clients could be the perfect complement to your business.
If you are a bookkeeper, selling is as important to you as it is to, say, a real estate agent.

For those of us in small business, be it as a bookkeeper, real estate agent, sales rep or the like, most of us are selling every day of our lives.

This means we get pretty good at it. We develop techniques that we can replicate and that become part of our daily lives.

The process of selling is really no longer about selling per se; it becomes about a systemised process of:

  • sourcing new leads (using content marketing, networking and advertising)
  • educating those leads about their services (using websites, social media, white papers, property reports)
  • understanding whether the lead would in fact be a good buyer or potential client (using face-to-face meetings, phone conversations and emails)
  • closing the sale (via offer and acceptance, funds transfer, receipts and after sales support).

With the growing power of modern cloud-based technologies, more people are taking the plunge to start their own businesses, but people who do so must constantly:

  • stand out from their competitors (say, other bookkeepers) to get discovered by people needing help with their books, either remotely or in their home/office
  • do an efficient job in managing their schedule and dealing with clients, and
  • market their services effectively.

Content Marketing takes the “salesy” out of selling

I’ve written a lot about content marketing lately because content marketing is simply imperative for anybody looking to sell their products and services and source new clients.

The beauty of content marketing is that, as a system to source new leads, you can cover all the steps of the selling process without it seeming like a chore and, best of all, without feeling “salesy”, cheesy or inauthentic. It’s focus is about the potential client — it’s about providing them with relevant information that will benefit them — not ramming a sales pitch down their throat.

Good sales people realise that sales and the very process of selling is not about just “closing” a sale. Rather, it’s about understanding what the customer needs, seeing if your product is a good fit and then offering a solution to a customer’s problem.

content marketing is most of the new sales funnel for real estate agentsHow much of sales is Content Marketing?

To this end, content marketing is about 80% of the selling process or 80% of the sales funnel (as corporate sales people like to call it).

This is because content marketing involves information gathering; it involves seeing if your product and YOU are a good fit for your client.

These are the content marketing stages:

  • creating relevant and interest website content
  • ‘call to action’ that results in email or mobile number capture
  • email or SMS marketing
  • social media profiles to engage with your prospects
  • CRM’s to manage the final parts of the selling process.

When you implement these systems you can sit back and watch it work and then focus on your conversion rate or what industry experts call CRO – Conversion Rate Optimisation.

Do you really want to be an online marketing professional? Let us manage it for you

Start a bookkeeping business not a franchiseMost of our students are looking for bookkeeping work, or want to start a bookkeeping service business — that’s why they use our services for MYOB Training Courses, Excel Training Courses, Xero Courses and Small Business Management Training.

Our recently updated bookkeeping directory is matching small business people to bookkeepers for a fair rate (for instance, if you want a level 3 bookkeeper, you pay for a level 3 bookkeeper). The National Bookkeeping directory is aimed at helping people (our students primarily) find bookkeeping work or start a bookkeeping business, but it’s also a great way for small businesses to find bookkeepers located close by, or who have the skills they require but who don’t necessarily need to come into the office and can assist them in the cloud.

To find out how you can be more than just a bookkeeper, and start your own bookkeeping business and promote your valuable bookkeeping services to a wider circle of potential clients via content marketing, read about listing yourself on National Bookkeeping or becoming a licensee.

 

 

Posted on 1 Comment

The New Year’s Approaching: Think About New Content Marketing for Your Business

The Value of Content Marketing

the-value-of-online-content-marketing
Finding it hard to get started in content marketing? Register for our upcoming course.

January, February and March of a new year, which is typically the quietest as people take a while to adjust to the work and school routine, is when a lot of businesses spend time setting goals for the year ahead.

Just as individuals set their own personal new year’s resolutions, many businesses use January and February to set some new year’s resolutions for their business’s marketing activities.

Business Blogs vs Paid Advertising

In 2016, there was an unprecedented uptick in the number of Australian businesses using content marketing to help drive their search engine rankings, increase customer engagement, and position themselves as opinion leaders in their industry. If the last 12 months is anything to go by, then, it’s fair to say 2017 will continue the content marketing trend.

Yes, I’ve been talking about content marketing a lot on this blog lately, as it’s a marketing strategy EzyLearn has been using, almost exclusively, for many years now, with much success — you are reading this blog post, after all!

EzyLearn and our partners continue to help many businesses establish their brand and build credibility online using content marketing — something we continue to do to great effect for real estate agents, to name but a few. Whether you are an agent, bookkeeper, small business owner, or just have dreams to start working for yourself, why not register your interest in our up and coming content marketing course.

Great Content is Like an Equilateral Triangle – All the Sides are Equal

As popular as content marketing has become in the last few years, many people still don’t quite understand that great content marketing requires you to pay equal emphasis on each component. This includes the word content itself in an ebook or enewsletter for instance, but also the layout and design, the SEO etc. It also needs to be free of typos!

I know, in the past, I’ve probably been guilty of rushing to publish content on our website because I’m so eager to share what we’ve created with you. But for content marketing to be successful in the long term, it needs to be approached holistically. In other words, the copy is equally as important as the design and the layout; the messages need to be consistent and you need to keep communicating with your customers — it can’t be hit and miss.

Just as every side in an equilateral triangle must be created equal, so too do you have to consider all components equally when content marketing.

Outsourcing is Okay

As a small business, you probably have at least one person in your team who is either a) design inclined; or b) a good, strong writer. If you’re really lucky, you may have both, but it’s not uncommon for a business to need to outsource part of this work to a professional, usually on a contract or freelance basis.

Take stock of the talent you have in-house already. If you have a competent designer, utilise them and outsource the writing to a professional. It’s unwise to try and do everything yourself. Producing high quality content is a time-consuming process, made even more so if there’s a particular aspect of it — the writing, say — that you’re not proficient at.

I would say that most business owners do most of what I would loosely term ‘designing’, themselves, which in the case of blogging is choosing an image that accurately reflects the message you’re trying to communicate in the main copy.

Think Outside the Stock Box When it Comes to Photos for Your Blogs

content-marketing-photos
Litter your blog posts with photos you have taken yourself – these are far more personal and usually more interesting than expensive, routine image libraries.

There is a certain art to selecting images for your blog. You want to avoid using ones that every other blogger is using, which means ditching your regular Google Images haunt and using a stock library instead. But this is where you need to do your research.

Many free stock libraries serve up the same images that you find in Google Images, which brings you back to square one. They’re also incredibly boring. At this point, next logical option probably seems like paying for a membership to a stock library.

Again, research is required here. Not all stock libraries, even paid ones, are created equally. Well known libraries — iStock Photo, for example — are expensive, while the other, lesser known ones are still boring. So what’s a content marketer to do? Get creative.

Take Your Own Digital Marketing Images With Your Smartphone

Remember, content marketing is about creating original, high quality content that’s relevant both to your customers and to your business. With this in mind, rather than paying for expensive stock photography and images, why don’t you take your own? There’s nothing more original and relevant to you and your customers than your own photography.

Publishing original content on your blog and website, whether it’s in the form of images, copy or videos (or all of the above), the harder it will work at driving your search engine rankings, while, at the same time, the personalised approach will have a longer lasting impression on your readers and customers.

Prioritise Content Marketing in 2017

Bookkeepers especially — take note!

Start a bookkeeping business not a franchiseIf you’re a bookkeeper looking to start your own bookkeeping business and find yourself clients, or grow you list of clients, and content marketing isn’t already on your agenda for 2017 —  it should be.

In terms of having the experience and know-how to content market to people we know what our students need to be successful to this end, after all, most EzyLearn students use our services for MYOB Training Courses, Excel Training Courses, Xero Courses and Small Business Management Training because they’re looking for bookkeeping work or want to start a bookkeeping business. Very early in the piece we started finding out why our students did our courses because it enables us to develop targeted products (and write content about) what they need.

Join our Bookkeeping Directory TODAY

We’ve launched a new bookkeeping directory which is aimed at helping people (our students primarily) find bookkeeping work or start a bookkeeping business, but it’s also a great way for small businesses to find bookkeepers who are close to them. We’re also taking registrations for our content marketing online course.

To find out more about how you can be more than just a bookkeeper, and start a bookkeeping business, including promoting your bookkeeping services to a much wider circle of people and engaging in content marketing, read more about listing yourself on National Bookkeeping.

If you’re interested in content marketing, either for your business or because you’d like to become an independent contractor offering content marketing services to other business, you can learn more by subscribing to our blog.

Posted on 1 Comment

FREE Digital Business Course

Learn How to Run a Business Online

starting-a-new-cafe-or-retail-business
It doesn’t matter whether you have a specifically online business, or a gift shop, clothing store, cafe or other bricks and mortar business, as a business owner, we can help you understand the digital economy.

In a post I published about starting your own business in January 2017, I said that all small business owners should have an understanding of traditional and digital marketing. You’ll be surprised how many don’t!

All businesses have a digital aspect to them these days so it’s vital that business owners and managers know how to manage the digital aspects of their business. This starts by understanding some of the terms used and how websites, domain names, hosting and the Google search engine works.

It doesn’t matter whether you intend to start a fully digital business (i.e. a home based bookkeeping business or online shop for example) or if you will start a more traditional bricks and mortar business (a cafe, retail clothing or gift shop, or some other business with office or retail space), you need to understand how to use the internet to develop new leads, engage with your existing customer base, and build your presence online.

Register for Our FREE Digital Business Foundations Course

I created a free Digital Business Foundations Course to help new and existing business owners understand how to digitise their business. You can register for our free Digital Business Foundations Course (scroll about half way down the page) to begin receiving the free course content. Some of the things you’ll learn include:

  • Insights into websites
  • Domain names
  • Web hosting
  • How Google Search works
  • How businesses use Content blogs for SEO
  • What SEO really is, plus much more.

Each of the principles discussed in the free Digital Business Course were applied to EzyLearn, when it transitioned from a bricks and mortar training centre business to an online only training business, and have been used by 123ezy, which provides content marketing for real estate agents, content writers and bookkeepers across Australia.

Case Study: Baby Massage Business

baby-massage-helps-new-parents-bond-with-their-newborn-child-wordpress-training-courseI wrote about Sonia Mitterdorfer and her baby massage business in August this year. For most of her working life, Sonia had been a registered nurse. After raising her family she wanted to return to the workforce in some sort of meaningful capacity and heard about baby massage. Her first introduction was a seminar (incidentally, run by a middle aged bloke holding weekend retreats helping new parents understand and bond with their babies!)

Sonia had her website created by a registered BAS agent who wanted to have add another feather to her bookkeeping bow (and wanted to do more “creative” work). Sonia’s website has been pivotal as a means for her to demonstrate her credibility and explain about the nature of her work.

There’s Much More to Domain Names

So many business people think (wrongly) that a domain name is simply the cost of a website, but that’s just the name — you need to:

  • point it (DNS) to a web host
  • set up your email at the web host (I prefer to outsource that to Google Apps — now called Google G Suite)
  • install website design software like WordPress
  • create the pages and menus
  • insert images (source them and edit them)
  • write some words (that Google thinks are relevant).

Don’t worry if you feel a little bamboozled — we cover all of this in our WordPress course!

Add an Online Dimension to Your Business

The majority of people, when they’re looking for a product, service, restaurant, cafe, real estate agent, bookkeeper, virtual assistant — online training course, even — will search online. Even if you think your business is already doing well, if it’s not optimised to deliver online leads, then it could be doing much better.

Reach your business’s full potential, register for our free digital business course to start a digital business or transition into one today.

Posted on 3 Comments

Start Your Business NOW for the New Year!

The Christmas Holidays is a Terrific Time to Start a New Business

start-your-own-small-business-this-christmasIF YOU’VE DECIDED THAT 2017 will be the year you start your new business, don’t wait until January to begin your journey to becoming the head honcho.

Right now is the best time of the year to begin — because while everyone else (businesses included) has gone on on holidays, you’ll be ready to take on your first client or customer by the time January 2017 rolls around.

Before a business can commencing trading, there’s a lot of work to be done. This takes time and requires some rudimentary knowledge of Australian tax law, copyright law, trademarks and patents. You should also have knowledge of particular software applications, and digital marketing.

One of the most common reasons a business fails is because it was mismanaged; the other most common reason is because the business failed to implement appropriate credit management processes. In both cases, businesses fail because the owners, directors, partners or managers lacked the appropriate management skills to make it a success.

Don’t Become a Small Business Statistic

Research has shown that by taking just one short course on small business management, the chance a business will fail is reduced by as much as 50 percent. The key areas businesses owners should understand before starting a business include:

  • Business planning
  • Digital and traditional marketing
  • Intellectual property and general law
  • Researching the market
  • Cloud-accounting software
  • Working with content management systems.

Ordinarily, to become skilled in each of those areas, a person would have to take, at least, five different training courses. But few people are ever likely to do this. Instead, they’d be more likely to cherry pick the areas they’re least familiar with, and fly blind with the others.

Take Advantage of Our HUGE Xmas Discount

start-your-own-business-in-january-2017We don’t want you to wing it or fly blind — our goal is to help small businesses succeed which is what we’ve been doing for near on 20 years. As a special offer, we’ve reduced the price of our EzyStartUp Business Course to $297 (down from $697). It covers each of the key areas mentioned above that a small business owner needs to be familiar with, in addition to the following:

  • Originating and developing concepts
  • Establish legal and risk management
  • Product packaging

Plus, you’ll have access to ALL of our software training courses for 12 months at a big discount, which includes Microsoft Word, Excel and PowerPoint training.

Don’t Wait Till January — Become the Head Honcho Today

Use your time off from work this summer to begin working on your new small business. All of our training courses are delivered online, and can be completed at your own pace, so you can complete them while you’re actually on holidays, or relaxing at home or at a cafe. And since one of the best ways to start a new business is by operating it as a side project to your other job, if you get all the startup stuff out of the way while you’re on holidays, it’ll be ready to go by the time you back to work.

Learn more about the EzyStartUp Business Course at our website or view all of our special offers to save on your next EzyLearn training course.


 

Posted on 1 Comment

You can start a bookkeeping business alongside your job

Starting a bookkeeping business is a learning process

Thinkink about starting your own business and want to learn from small business mentors and other entreprenuersWhen I started my first business I was in my early twenties and I knew that I needed to be available during normal business hours when customers made enquiries so I jumped off the short corporate journey I was on and worked full time in a bar – 4 long shifts of 10 hours, including weekends. It was a big change in mindset for me (admitting I had failed in the corporate race) but it gave me the time and money to learn about business and what having a business is like. It’s the same for a new bookkeeping business.

Finding the time

Time management is tough when you are a mature person: family, kids, school, part-time work and studies are common for many people in their thirties and forties and sometimes this is enough to stop people before they even get started. Despite the continual pressures on your time it is possible to fit in a new business and it’s centred on finding your productive time or available time.

Some people use mathematics to find available time – 168 hours in the week, then block out things like travel time, work-time, study time etc, but I think you’re best off finding the time where you can get into “the zone”, after all you’re exploring, practising and researching something that will result in you being able to earn money close to home or even by working at home! For early risers this time is first thing in the morning while you’re drinking a strong coffee, for others it will be at night after the kids have gone to bed and for some it will be on the weekend when you’re not really doing much else. Most people living in the big cities have a long commute into the city and often this is a good time to study, read and research. You only need a couple hours a week to start imagining yourself in your new business.

Keeping track of your tasks

OK, so you managed to find the time – most people can find the time if the task or project they are working on is important to them. The next thing is how are you going to keep track of what you learn and what you need to do? My first real success in this area came when I listened to a Jim Rohn audio cassette (yup) where he talked about the value of a journal filled with empty blank pages and how that journal was more valuable than a book filled with details about someone else’s life. To reward myself for writing in it, I’d treat myself to a coffee at a cafe and to this day I write in a journal most days of the week – particularly at the beginning of each week – I don’t go out to drink as many coffees though.

This practice taught me that every obstacle can be over come and every goal reached, it’s just a matter of figuring out how to do it. This practice also helped me understand what I was working on better because I would spend the time to make a note of the biggest challenges.

I’ve used a number of different software programs and services to help me manage tasks and time, including:

  • Google Apps Tasks
  • Google Apps Calendar
  • Asana
  • Basecamp
  • Time Meter

I use my journal to write down goals for the week for myself and for my direct team and I refer to it several times a day during the entire week. Throughout each day and at the end of the week I put a big tick next to everything that was completed and if there are things that I didn’t complete I don’t kick myself about it; I just re-write it as a task for the next week (or realise that it wasn’t that important).

Be accountable

jim-rohn-inspiration-for-starting-your-own-bookkeeping-business-and-setting-and-achieving-goalsA big reason for my maintaining the use of a journal was to have a record of the work that I had DONE as much as what I’d planned to do. One of the worst feelings I can imagine is having so much going on in my mind that I don’t know which way to go or where to start and by going through the process of journaling and setting goals I am able to gain clarity and set some simple achievable goals. Many of my goals are to simply learn more about the task that I am working on or understand something that a member of my team is struggling with.

Lately we’ve made some big changes to our Enrolment Voucher System and it has involved connecting multiple different online services together in one solution. Some parts of it worked smoothly while others were a real struggle so I wrote that down as a goal to research and we ended up finding a solution EVERY time. This system enables us to provide low cost courses to our corporate training clients so it’s very important to us.

It’s not about busting your balls for not finishing a task on your list, it’s more about remaining on track to achieve your goals and keep moving forward constantly in the direction of your goals.

Do something you love doing

Am I really doing something I love doing? More than anything I would like to be swimming on a clear beach, sun bathing, drinking something alcoholic (but in moderate proportions of course), then eating something and then having a rest 🙂 But as far as work is concerned I work from my home office and choose my own hours and have a team of people who do the same! It’s something I’ve wanted to do ever since I closed my last physical training centre in Dee Why in 2006!

When I hear these words it’s more about managing the tasks that you don’t like doing (you’ll be glad to hear that most business owners hate doing their bookkeeping and would rather find a good local bookkeeper 😉 and focusing your time and energy on the things that you like doing. The stuff you don’t like often still needs to be done but you can always find alternative ways of solving the problem. You can

  • find someone who prefers to do that work and delegate it to them,
  • do the work first thing in the morning to get it done and over with, or
  • find a way to automate or systemise it.

Start a bookkeeping business not a franchise

Pre Qualify Now to start your own bookkeeping business

Challenge yourself to grow

This one is the hard one because it involves making yourself do something you don’t want to in the hope you’ll be able to achieve something you don’t think you can achieve. This is the step that often requires the help of a business mentor or a coach and some people buy into a franchise in the hope that the system of the franchise will enable them to just do the work.

One thing I have learnt for sure though is that if I didn’t make a start I wouldn’t be doing what I am doing today. When you start on your journey of having your own bookkeeping business you change personally because of the challenges you face and what you learn along the way often changes the direction your business takes or the services you want to provide.

[box type=”info”] The learning and researching stage is so important because this stage pushes you out of your current patterns and opens your mind to the endless possibilities.[/box]

In business to help others

This is one of the most important things to keep at the front of your mind when you’re starting a new business – that only when you are helping to solve other peoples problems are you going to be of any value. When you maintain the positive thought that you are actually in business to help someone with their problems it’s easier to focus on solutions for your clients rather than what YOU want right now and that is the moment your challenge will begin to show results. It is often the moment when you go from the “I want/need $X per hour” to “I can help a business do XXXX better and save them XXXXX” – you can fill in the blanks yourself.

I wrote this blog after listening to stories from different people, most of them currently working in the corporate world where they deal with long commutes, frustrating traffic, childcare costs, politics and deadline stress, under-staffing etc. These people are very experienced and their knowledge would help growing businesses closer to where they live but these people still have to manage the transition while still paying their mortgage. To these people I say “Start now and with a little bit of time each week you can have a business and potentially even new clients within 3 months, while clearly defining how you’d like to work the the type of clients you want to work with”.

Here’s to your success 🙂

 

Posted on 1 Comment

Release: Concreting Business Case Study for Xero Training Course

Case Study: Tradespeople Using Xero Cloud Accounting

Concreting business uses Xero for jobs, purchasing and progress payments - online training case studyTradies across Australia are getting onto the cloud for their accounting and there’s a good reason for it — many busy people can use the system from remote locations to get their work done.

This means the estimator can use it to generate a quote at a site, the office administrator can convert quotes to orders and invoices and the remote contractor can sign in and do accounts receivable calls from their home office. This is good news! All major accounting programs now offer cloud access — MYOB, Xero and Intuit Quickbooks.

I wrote in the past about Rohan from Painters, Men in White; Ken the home theatre installer and Jason the kitchen appliance repairer. Today I’m happy to announce that we’ve released a case study in the Xero Daily Transactions course that relates to the building and construction industry — in particular a concreting business that quotes for the pouring of a 3 level apartment building. Sue, a contract bookkeeper from Yarra Junction helped me write this Case Study based on her experience in the building sector and in particular with concrete companies.

Bookkeepers Upskilling with EzyLearn

Sue is typical of the students who enrol with us to broaden their skills in cloud accounting — existing bookkeepers who want to upskill. She has a lot of experience in the day-to-day management and accounts for tradespeople and found that she could perform the bookkeeping from her own home at any time.

We’re Constantly Updating Online Course Content

While I’m blowing my trumpet I may as well add that this is an example of what we promote with our online courses — that during your student access period you’ll have access to ALL the courses you’ve enrolled into including updates and new content. This is particularly useful for MYOB and Excel Course students who enrol using the LIFETIME course access option.

Xero Course Student Testimonials

I haven’t posted any new pages with student testimonials to the website for a while (but they come in with every course) but today it must be trumpet-practising time for me because here I blow again! When Sue completed the course, she commented:

I would recommend this learning site to others and I am thinking about studying Excel next with this learning centre“. She also commented: “Convenient in that I can do it from home at my own leisure. The price was very reasonable.

While Sue was working with us we put her through our Microsoft Word and Excel courses at no cost and the main thing that really stands out to me is how much everyone benefits by doing a Microsoft Word course!

Use Microsoft Word to Create Xero Courses

Helen from Bright learnt how to use WordPress and got leads for website design work using our WordPress course
Helen from Bright is a registered BAS agent who did our WordPress course and got paid creating a website with out help!

Many students enquire about the Microsoft Excel courses because spreadsheets are complicated for people who don’t know how to use them. However, I never cease to be amazed at how many people confidently state, “I know how to use Word, that’s easy”.

Microsoft Word is used in so many aspects of a business yet too many people think that just because they can type they are good at Word. Things like:

are covered in our 203 to 205 courses (so they are considered beginners to intermediate Word skills) yet I am surprised at the number of people I meet who don’t truly understand how these work!

When we work with a new contractor, even as part of our National Bookkeeping Network, we ask new members to write up an education guide if a bookkeeping customer is looking for a certain task to be completed. We end up putting the bookkeeper through our Word course and they discover a whole new world of computer skills that enable them to do more office admin work for their employers or customers — particularly when it comes to long form documents like instruction guides, tenders and even eBooks which are becoming increasing used in online digital marketing.

Bookkeepers Can Be Great Web Designers!

One EzyLearn student helps another from MYOB bookkeeping to designing websites for baby massage using WordPressAs I’m sharing so many EzyLearn student stories, I’ll provide another example of a recent student, Helen from Bright in Victoria (check out where Bright is located in Google maps and you’ll see just how far away she is from the nearest capital city — again, the beauty of working from home using the internet!)

Helen is a Registered BAS Agent and has been for a long time. She performs all the bookkeeping tasks that many of our students aim to offer by being a BAS agent, but she is also interested in being a little more visually creative — at least part of the time — so she completed our WordPress Course and as a result we’ve introduced her to some clients. Since then she’s actually been paid for creating and editing websites! One website she created and continues to edit as required is for ANOTHER student, Sonia who completed our MYOB course years ago to help her with her husband’s business!

Sonia now spends a lot of her time teaching mums (AND dad’s) about baby massage and how they can use infant massage to build a bond with their new baby and help them relax when they are uncomfortable. With a nursing degree and a huge amount of experience with children, Sonia is able to help parents and babies alike create a special bond through touch, and ease new parents into the sometimes stressful experience of welcoming a new baby into their family.

PROMOTED: Corporate Training Licence

If you like the sound of all these courses you may like to take a look at our special bundled offers or even a corporate training licence for your staff or team members.

Referral Marketing is Something We Like

I hope I’ve managed to share with you how we genuinely like to support our students and clients in their journey. We welcome your feedback and love to hear directly how you’re progressing along the way, how we can improve what we do, and any other input you may have.

If you’re looking for a new job, we can advise you on our comprehensive courses with lots of content and examples and a fantastic price. If you’re looking to start a new business we can help you with our Business Startup Course. If you’re a small business in need of a good bookkeeper, writer or website designer — we can connect you.

Stay tuned for some new training content releases about Selling Your Property, Facebook Marketing and Intuit Quickbooks.

Posted on

Bank Recs is BAS preparation but lodgement is legal

Due dates for BAS lodgement can be deferred by BAS agents

Due dates for lodging BAS's and extensions for BAS Agents using the BAS Agent portal - Bank Recs do most of the work
Image: ATO website

If you’re doing your BAS with the help of a Tax or BAS agent you might be aware that although the actual due date for the March quarter BAS is 28th April you can get an extension by using a tax or BAS agent to the 26th of May. We’ve had quite a few conversations lately with bookkeepers about whether they can do this or not and if not who can they turn to, to do it.

When you lodge a BAS with the ATO you are effectively telling them how much you’ve earnt and spent but more importantly you are defining how much the business actually pays in tax – and they DON’T want you to get this amount wrong. If the amount is wrong and in your favour you may incur fees and charges and the TAX and BAS agent system (that is managed by the Tax Practictioners Board) has been set up to assume that only someone who has the training and experience is responsible for lodging these important documents. If they get it wrong a small business owner can sue them for the time it takes to fix the problem and for this BAS agents need professional indemnity insurance.

Non-registered Bookkeepers and BAS Agents

The good news for both businesses AND ordinary bookkeepers who are not registered BAS agents is that you can have a bookkeeper do your data entry, as well as help you with various aspects of your business accounts and administration (like accounts payable, receivable and even customer service etc) for a good, low rate. Many of these bookkeepers operate as independent contractors so the small business doesn’t need to employ a staff member to do the books [want to start your own bookkeeping business cheaply? Look at joining National Bookkeeping] and some of them are very experienced in bookkeeping and even running their own businesses.

The good news is that you can still use one of these bookkeepers to take care of the accounts side of your business and use your accountant or a BAS agent for the BAS preparation and lodgement.

Bank reconciliation done right is where all the work is done

Now we have the BAS lodgement details out of the way let’s get into the bank reconciliation. This work is often done by the accounts person or contractor and it’s where most of the time and effort in preparing a BAS is spent. If this is done correctly the BAS preparation is pretty simple so it made us delve a little further into the steps taken in doing this work. Here are the simple steps:

  1. Launch your accounting software
  2. Go to the bank reconciliation area
  3. Start matching entries in your software with lines on the bank statement (much easier and faster with bank feeds and Internet banking).
  4. Reconcile each month
  5. Run your BAS report

Many people at this stage will need to provide copies of their bank statement to their accountant, BAS agent or bookkeeper so that person can see actually real world evidence of that transaction (sometimes bank feeds are perfect either). It’s at this stage that you realise whether you made the right choice in the bank you choose because not all banks are equal in Australia even if they are grouped as the BIG four. I’ve written about my disappointment in how hard it is to use a bank like NAB before and I’m afraid I’m gong to have to do it again, comparing NAB to CBA for the ease of getting bank statements.

Bank Statements and Internet Banking – Bad news NAB

CBA Netbank easy to get past statements up to 7 years old compared to NAB business bankingCBA provide 7 years of storage for bank statements so if you do have to go back and get an old one guess what? No calls to make, not bank statement fees to pay, no need to search through your filing cabinat for paper statements, all you need to do is go back to that period and download the file as a PDF and email it to your accountant or bookkeeper.

NAB is too old, statements are hard to get and customer service needs to change with statement searchTo do this with NAB is very similar to walking into one of their branches (well the one they just closed down at Dee Why anyway) – it’s old, clunky and hard to work with and often I’ve found you need to email or call or do physical searching around your office for this rudimentary information – this task alone can make the whole bank reconciliation experience very frustrating.

Do your end of year reports now

facebook marketing and advertising course onlineWhile we are on the topic of reporting you may be aware that there are some tax deductions and expenses that you can claim this financial year so it’s a good time to know exactly how you have performed this financial year – plus you’ll see how far short or ahead you are from last year and you can do your own Jerry Harvey style clearance sale – everything has to go, go, go because we have TOO MUCH stock.

We’re preparing some blogs that’ll be published shortly about some of the deductions and tax breaks you might want to take advantage of. Hopefully after these we’ll be able to focus on our online digital marketing courses like Facebook Pages for business and Facebook advertising for real estate agents! Every one will benefit from these Facebook courses but we’ll slant towards how real estate agents can use Facebook to attract vendors in their local area – it’s fascinating.

Posted on 1 Comment

Becoming a National Bookkeeping Bookkeeper

Starting a Business as a Bookkeeper is about Business Knowledge, Skills and Support

start a bookkeeping business
It can be daunting knowing where to get your first clients when you start your own business.

It’s not easy starting out as a bookkeeper running your own business. We think our partnership with National Bookkeeping is going to help you get underway.

If you’ve subscribed to our blog and followed our recent posts, then you probably know that EzyLearn has partnered with National Bookkeeping.

National Bookkeeping can now administer training courses to their new licensees, along with a range of other perks and benefits to help you launch your own bookkeeping business.

Becoming a National Bookkeeping Licensee

To begin with, as a National Bookkeeping licensee, you receive access to all of the EzyLearn training courses, including any new courses we develop in the future.

This means that in addition to our MYOB training courses and our small business management course and our WordPress training courses, you will also have access our new content marketing course along with any other course we develop in the future.

All the training you need under one roof

We made a commitment to give National Bookkeeping licensees access to our full suite of training courses because we’re big believers in continuing your professional development by constantly updating your skill set, whether it’s by learning how to use new software or getting training in new areas of study – like content marketing.

So straight off the bat, by becoming a National Bookkeeping licensee, you’re getting access to thousands of dollars worth of training courses as part of the license fee. The way we – and National Bookkeeping – see it is that the better skilled you are, the more chance your business will have at succeeding, which is a goal for both EzyLearn and National Bookkeeping as much as it is for you.

What do you get as a National Bookkeeping Licensee?

You also get the infrastructure you need to get your bookkeeping business off the ground included in the license fee. This includes:

VoIP business phone number: You can give out a landline telephone number (rather than just a mobile number) and configure it so you can use special in-dial marketing numbers to see where your calls are coming from, which is very useful to tracking your marketing activities. You can learn more about VoIP at the Virion website, who are also working with National Bookkeeping.

Business templates: Whenever you commence work with a new client, you should always have some kind of agreement in place to protect both yourself and your client. For an independent contractor – which is how National Bookkeeping licensees will operate their businesses – the most common kind of agreement you’ll use is the professional services agreement. But we’ll also give you access to other kinds of business document, such as intellectual property agreements, that can be easily modified, should you need them.

Bookkeeping business plan: In addition to the small business management course, which takes you through the process of creating your own business plan, National Bookkeeping will also provide you with an easy-to-modify business plan, developed especially for home-based bookkeepers, which you can tweak to suit your business needs.

Sales training and business coach: Even if you’ve worked in sales in a previous occupation, every new business owner can use sales training and that’s largely because as a business owner the sales process is different to when you’re working as a sales person for a large company. When you’re just starting out, the goal is to get clients – so is working for free or cutting your rates is a good way to establish yourself? The National Bookkeeping sales trainer will take you through the many common scenarios new business owners face in relation to getting clients, as well as ways to build your business through word-of-mouth referrals. You’ll also have access to your own business coach to help you keep on track to grow your client base and build a successful business.

Marketing materials: National Bookkeeping will also supply you with your own business cards, brochures, and marketing and sales collateral that you can distribute throughout your business networks and to potential customers.

What you need to do now?

Aside from registering your interest with National Bookkeeping there are a few things you will need to do in order to become a home-based bookkeeper.

Get a Cert IV in Accounting or Bookkeeping: Although you don’t have to get a Certificate IV in Accounting or Bookkeeping, we highly recommend it. Without a Cert IV, you cannot provide BAS or GST services, which are a major component of the tax process. By being able to provide these services, you make yourself infinitely more valuable to your clients, as well as accountants with whom you’ll be encouraged to network and make contact with. You can get a Cert IV in Accounting or Bookkeeping from most RTOs or TAFE.

Obtain an ABN: Every business must have an Australian Business Number, which must be quoted on your invoices. If you don’t have an ABN your clients are legally required to withhold 49 percent of your payment and send it directly to the ATO, who’ll hold it until you file a tax return for which you’ll be required to get an ABN. Thus, it’s better to get one before you commence trading.

Get in the zone: The decision to start and operate a new business is not one that should be taken lightly, so it’s a good idea to get mentally prepared beforehand. Read up on what it’s like to be a home-based office worker, get on Meetup.com and do some networking with other business owners who can share their tips, advice and wisdom on the new business journey with you; and just generally ready yourself (organise your home-office space, for instance) for diving in and taking the self-employed plunge.

But first…

If you would like to learn more about the National Bookkeeping licensee program, visit the National Bookkeeping website, read their FAQs page or get in contact with their team to discuss the opportunities available in more detail.

Otherwise, if you have all the information you need and you’re ready to get started, register now at the National Bookkeeping website and begin your bookkeeping journey today!

Posted on

How do you manage your online content marketing?

What’s all this about content marketing?

Content marketing and automatic marketing response marketing can help real estate agents standout and build credibility for property vendorsWe’re busy developing a new content marketing course because as a form of online marketing, content marketing is finally starting to come into its own. Content marketing has actually been around for many years – it’s been known as custom publishing, branded content, branded journalism, and custom media – but as it became more popular, marketers began referring to it as content marketing to make it easier to for their clients to understand.

Content marketing is basically the process of creating valuable, informative content – blog posts, email newsletters, ebooks, etc – and sharing it online to help attract and retain customers. But because it requires a lot of content to be produced and regularly, many small businesses are outsourcing their content marketing needs.

Your content marketing needs to have a purpose

To make the most out your content marketing, you need to have goals and a strategy in place to achieve them so you’re not just wasting your time. This is the same as traditional marketing activities, which we cover in our Small Business Management Course. You also need to be able monitor how each piece of content is going at achieving those goals.

If you’re also hiring a content writer or strategist to help you with your content marketing, you also need a way to easily collaborate. Now, if only there was a way to monitor and analyse your content marketing AND schedule and set content marketing tasks for those people you’re working with…

A tool for schedule and managing content marketing

Well, as we’ve recently discovered, there is! It’s a cloud-based content marketing and editorial calendar called CoSchedule and it allows you to schedule and create content marketing tasks, assign those tasks to your team, create and publish blog posts, share links to content via social media, and monitor the success of your content and the social media platform all within the CoSchedule app.

It’s a very powerful, very useful tool for small businesses that work with a number of remote workers who are based around the country, as it allows complete collaboration with your team and also integrates seamlessly with WordPress. It also helps you to optimise your blog titles and your social media sharing to help drive your web traffic.

By providing you with detail stats – and also integrating with most web analytics software, including Google Analytics – you can see what content performs well and what doesn’t, so you can improve you content in the future.

You need to know your readers to succeed

Because content marketing is about creating engaging and interesting content, whether it’s blog posts or ebooks or something else, it’s vital that you know what content your customers like and what the don’t, so you can ensure you’re always keeping them engaged.

In a post I wrote about content marketing not so long ago, I mentioned how important it is to know and understand your reader, because that’s what’ll help you to engage and interest them with your content. If you have highly engaged people consuming your content, they’re more like to share it with their friends, family and other people in their social networks.

This helps to spread the word about your business, which will bring you more customers and make you more money. But better than that, it’ll also help you to see new opportunities and areas into which you can expand your business.

Content marketing can help expand your business too

We used the feedback we received from our content marketing activities when we decided to develop the Xero training courses and the currently in-development content marketing course; it also guided us in our decision to partner with National Bookkeeping who are taking on licensees and helping them to start their own bookkeeping business.

Yes, we got all that from content marketing! Because through our content marketing, we got to know you, our readers, and what you were interested in and that allowed us to look for the types of courses and business opportunities that would interest you. You can do the same for your business too.

Learn about content marketing from the experts

If you’d like to learn about content marketing, our new content marketing course is currently in development. We’re working with an Australian journalist, a successful small business owner, and a digital marketing specialist to create a relevant, easy-to-follow course that’ll guide you through the process step-by-step. In the meantime, you can subscribe to our blog to continue reading our posts, where we’ll keep you updated on how it’s progressing.

If you’re looking for the opportunity to start your own home-based bookkeeping business, we recommend you get in touch with National Bookkeeping, who is taking on licensees. We’ve made all of our courses available to them, which will include our content marketing course when it becomes available so their licensees can learn all about starting and operating their own bookkeeping business.

What about content marketing for real estate agents

We’ve recently become aware of the need for real estate agents to build their own personal profile and credibility online. Property vendors who want to sell their property are (like the rest of us) increasing looking online for selling agents who have good experience and great reputation to sell their properties at the highest possible price and as quickly as possible. Watch this space as we learn more.

Posted on

Why Use a Bookkeeper?

Bookkeeping may be getting easier but do you really want to do it?

MYOB bookkeeper
You don’t need to be a BAS agent to be a successful and profitable bookkeeper.

EVEN WITH THE LATEST accounting programs, like Xero and MYOB Account Right Live making it easier for small business owners to manage their bookkeeping themselves, a bookkeeper is still an invaluable asset to any business. (It’s also the truth that, as much as companies like Xero tell you they make it a cinch to do your own bookkeeping, online account-keeping software programs are still complex and time-consuming to learn to use properly.)

We wrote a post recently about why contract bookkeeping is a good business venture for people looking to start a low-risk business. 

Here we certainly addressed the reasons bookkeeping is a good professional pursuit, but now it’s time to look at the benefits hiring a bookkeeper has to a business owner.

A bookkeeper makes a good, legal sense

The most obvious benefit, of course, is that by having someone to take care of your bookkeeping it frees you up to concentrate on the aspect of your business that you’re best at. But aside from being a legal requirement for every business to keep accurate records, it also helps you to monitor how well your business is performing.

A bookkeeper will work on your bookkeeping every week or even a few times a week, depending on your business needs, enabling you to monitor your daily income and expenditure, and if your accounting software has bank feed enabled, you can monitor it in real-time, too. This is crucial for businesses with many expenses or running costs – businesses that purchase stock or employ staff, for instance – to be able to manage their cash flow.

Paying a bookkeeper can save you money

But having your bookkeeping kept up-to-date also has other benefits, particularly in relation to regulations such as when you need to register for GST, and so forth. Here are five more benefits to your business if you hire bookkeeper to look after your books:

  1. Keeps your tax bill down: Businesses that don’t have someone taking care of their bookkeeping end up spend more with their tax accountant, so it’s really false economy if you think you’re saving money by going without a bookkeeper. It also potentially costs you money in other aspects of your business too, as you’ll find out.
  2. Can manage invoicing: Sure, it’s super easy to invoice your customers and clients now that most good cloud-accounting programs have apps for smartphones and tablets, but there are still plenty of businesses that don’t use the accounting apps on their phones or tablets because of the complex nature of their business. A bookkeeper can take care of this.
  3. To take care of your payroll: When you hire employees or sub-contractors, you’re entering a whole new realm of business. There are superannuation contributions, payroll tax, and a heap of other regulations that bookkeepers have to stay up on, but you don’t.
  4. You’ll avoid ‘late’ penalties: The ATO takes late lodgments pretty seriously, and the penalty for the late lodgment of a BAS or tax return can be up to $850 for each late lodgment. If you’re consistently late lodging your BAS or tax returns, then a bookkeeper basically pays for itself, because unlike fines or penalties, which are not tax deductible, the services of a bookkeeper are.
  5. Chasing unpaid invoices: The reality of running a business, unfortunately, is that a lot of people you’ll do work for won’t pay you on time. Chasing unpaid invoices is a delicate and time-consuming process, particularly when it starts to affect your cash flow and prevents you from taking on more work – buying stock or supplies, for example. It’s always a good idea to separate the face of business from debt collection. It helps keep the client relationship warm and fuzzy, while cash continues to come in the door.

Now that cloud-accounting programs have made it more possible for bookkeepers to work from home and contract their services to many different clients, making it easier and more affordable for small businesses to retain a bookkeeper.

— EzyLearn is Behind a New Bookkeeping Initiative 

find a local bookkeeper

EzyLearn now features the National Bookkeeping Directory, a service which connects businesses owners with bookkeepers, based on their business needs or location. If you’re looking for a qualified, local bookkeeper to manage your books, visit the National Bookkeeping website.

Alternatively, if you’re thinking of starting your own bookkeeping business, National Bookkeeping is looking for smart entrepreneurs to become licensees.

National Bookkeeping provides full access to the entire suite of EzyLearn training courses, including our MYOB training courses and Small Business Management Course, in addition to providing help getting business leads. For more information, visit the National Bookkeeping website or read the FAQs page.


 

Posted on 2 Comments

The National Bookkeeping license fee is 100% tax deductible

Costs of starting a business are tax deductible

become an independent contract and start a bookkeeping businessIf you’re subscribed to this blog and you’ve been following our recent posts, then you should be aware that we’ve recently partnered with National Bookkeeping to deliver online training courses to their new licensees. We’ve also been writing about the $20k tax breaks introduced in the recent budget, which allows businesses to immediately write off asset purchases up the $20k as a tax deduction (rather than being depreciated over time).

While we caution you to be prudent when it comes to making business purchases, if you had been thinking about becoming an independent consultant and starting a home-based business and needed to make any purchases – office furniture, technology, a training course – now’s the time to do it.

Now that we’ve reached June, there are just a couple weeks left of this financial year, which means that any business purchases you make between now and June 30 will immediately go toward reducing your taxable income for this current financial year. This even includes the cost of becoming a National Bookkeeping licensee.

A tax-deductible license fee

Typically, when you buy a franchise or become a licensee, the franchise or license fee you pay forms part of the cost-base for your franchise or licensed business as your capital asset, and cannot be claimed as a tax deduction. However, because EzyLearn is a partner and is providing its entire suite of training courses to new licensees, the fee to join National Bookkeeping is technically considered a self-education expense.

Self-education expenses, when they directly relate to your business, are a hundred percent tax deductible. If you register before the end of this financial year – that is, June 30 – then you claim it as an immediate tax deduction, and reduce your taxable income by $1,600 straight off the bat – and that’s not to mention any other asset purchases you make, like new cars, office furniture, technology and the like.

Aside from being instantly gratifying to be able to claim a business expense back right away, it’ll also mean that you’ve technically started your new business in the black as opposed to in the red like new most businesses do. So whether the license fee results in a bigger tax cheque this year or just reduces the amount of tax you have to pay to the ATO, it’s still money in your pocket that you can reinvest into other areas of your business.

Register before June 30 to avoid starting your business in the red

One of the biggest hindrances to growth in the first year of business is poor cash flow, and unfortunately many small businesses experience poor cash flow in their first year of trading. It typically occurs when a business makes a number of, albeit necessary, business purchases that leave them cash strapped until they can file a tax return at the end of the financial year. As a result, it makes it difficult to spend money on marketing or to hire a contractor to carry out work you’re not skilled for – developing a smartphone app for your business, say.

As a result, you either miss out on investing in opportunities that will help to grow your business in the long term, or you wind up trying to muddle through it yourself, which is both a waste of your time and is also false economy, because you’re losing money by not attending to the tasks that are going to generate immediate revenue (completing someone’s BAS, for example).

Even though becoming a licensee is a low-risk new business option, which usually includes most of the things you need to start and grow your business during its infancy, like sales and marketing collateral – in fact, National Bookkeeping licensees will want for nothing as nearly everything, with the exception of an ABN and Cert IV accreditation, is included in the license fee – there is some flexibility to how you operate your business, which means that if you decide you want to branch out and offer content marketing services, you may need to regularly work with a designer or developer.

You’ll need money to pay them, and if you want to keep up a good relationship with your suppliers, you’ll want to pay them quickly and on time. Ideally, your end client will do the same for you, but oftentimes they don’t. If you’re always waiting to be paid before you can pay your suppliers, it’s not going to foster good relationships with either your client or your suppliers.

Start your National Bookkeeping business in the black

So that’s why it’s a good idea to register with National Bookkeeping and become a licensee before June 30. It’ll mean being able to claim back the entire license fee this financial year, so you can give your business the best change at growing and becoming a success from the very start.

As a National Bookkeeping licensee, you’ll receive full access to our entire suite of training courses, including our small business management course, which covers all of the important aspects of operating a small business, like developing a business plan, managing the financials, and researching the market – in this case, useful if you decide to offer additional services, besides just bookkeeping.

You’ll also gain access to any future courses we develop, and we currently have a content marketing course in the pipeline. I’ve mentioned in a blog post already that content marketing has become a real focus for many businesses now that they’ve come to realise how important it is to engage and interact with their customers online.

Develop your skills to expand your business

The content marketing course we’re developing is designed to give people the skills they need to start their own home-based content marketing business, which you may decide to utilise by expanding your services beyond just bookkeeping and operate a business that offers a Complete Business Operations service to other businesses.

For a lot of medium-sized enterprises – a plumbing business, for instance – that has a number of staff or contractors and struggles to keep up with the administrative side of the business, being able to deal with just one business would be far more convenient than having to engage each one separately – a bookkeeper, a virtual assistant, and a marketing agency.

But then again, you may just decide to take the skills you’ve learned, create your own content marketing strategy for your business, and implement it yourself. It’s up to you.

Achieve success through education and flexibility

National Bookkeeping and EzyLearn wants you to have the best chance at succeeding in your business venture, and we believe that the best way to achieve success is through education, and that the more skills you have and knowledge you possess, the more likely you are to achieve it.

I honestly, don’t know many other franchises or licensed businesses with that level of commitment to education, nor to the flexibility that comes with it. So if you would like to start a home-based bookkeeping business, but want to have the flexibility to expand you services beyond just bookkeeping, while also having the security that a licensed business offers – an established business model and name, access to infrastructure, training, and coaching – then it’s worth your while to look into being a licensee with National Bookkeeping.

Visit their website for more information, contact the team, or if you’d just like to get started today – before June 30 so you can claim your licence fee back right away – register your interest online.