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Helping businesses master social media and digital marketing

Nick Roberts • May 20, 2015
OMG Solutions social media 
 

"With so many different platforms available businesses can find themselves in one of two boats, they are either totally confused about what to be doing to market their business online, or they have a presence that is not getting them the results that they want, and to top it off, not many have the time or skills to manage their digital marketing themselves", says Kathleen.  

Being a relatively new business, Kathleen was unsure about the need for an accountant, but as the months went on and the questions came up she called on Nick for assistance.  "Nick has been great, he is only an email or phone call away, and is always available.  Being a new business owner, for the first time, I was confused with so many aspects of the financial side, like keeping my business and personal transactions separate, so Nick got me set up on Banklink, and sorted out a business bank account."

"At the end of the tax year I gave Nick a folder full of receipts and invoices and off he went," says Kathleen. "A couple of weeks later I got my summary and everything was done and dusted, I didn't need to do anything.  I was really concerned about having a huge tax bill and not having the cash on hand to pay it, Nick explained everything clearly, and now I know what to expect over the next few years in regards to making payments for tax.  Nick's advice and assistance has been second to none, because I know he has it all covered I don't need to worry anymore, which has been a huge weight off my mind."

OMG Solutions offers a range of online solutions, from LinkedIn and Facebook training, to website and email marketing management, speaking to companies on implementation and strategy, or website design and building.

Trades, Service and Professionals – Setting Your Charge-out Rates

By Nick Roberts • May 3, 2016
High, low or somewhere in the middle? Where to pitch realistic charge-out rates is a common question facing trades, service and professional businesses.  In fact it's probably one of the most difficult areas of business. You have to be careful not to underprice as this will reduce profits, but at the same time, overpricing could turn customers away.  Setting charge out rates is just as important as marketing and delivering a fantastic service. You can do these two things excellently and then undo the lot by setting charge out rates too low or too high. This means pricing is a complex strategy that should be carefully undertaken and reviewed. Read more here

Save Money - Get Your Rates Back

By Nick Roberts • April 11, 2016
Do you wonder sometimes why your Council rates are so high and what they do with all the money? Especially when you see Council workers (as hard working as I'm sure they are) using leaf blowers on the Havelock North to Hastings cycle path?  Finding the money to pay your rates is hard enough as it is, but when you're in business and you have a bad year it's even harder, so did you know you can get a rates rebate if your income drops below a minimum threshold? The threshold level varies depending on your income and situation, but for example, a household with an income of $30,000 and one or two kids could get a $600 rates rebate. And then, even better, you can take the kids to Splash Planet and get in cheaply with a copy of your rates bill!  For further details click here, or email Nick for help if you're not sure what to do next.

ACC Costs and Fatal Benefits

By Nick Roberts • April 4, 2016
n previous blogs we've talked about cutting ACC costs by switching to ACC Cover Plus Extra. However, you need to make sure that if you reduce the level of your ACC cover, that you have adequate life cover in the event of your untimely demise. This is because ACC pay out Fatal Death Benefits, the amount of which depends on your income for ACC purposes and the amount of the ACC payout can be very substantial.  A spouse is entitled to 60% of the 80% ACC entitlement for 5 years whilst children (via the spouse) will receive the benefits until they turn 18 at 20% each up to 40% in total. Take, for example, an earner on $80,000 income who dies an accidental death with a spouse and two children of 4 and 7. Collectively they will receive benefits of $1,049,600. If, on the other hand, the earner had reduced his ACC income to $22,464 the benefits would reduce to $368,410, a very substantial reduction indeed!  So, if you want to reduce your ACC premiums by switching to ACC Cover Plus Extra, you have three options: Take care not to die accidentally! Get adequate life cover Stay single without any dependants! If you need help with ACC, contact me at Accountancy + Business Advise Centre.  

7 ways you can use your annual financials to improve your business

By Nick Roberts • February 29, 2016
The availability of your annual financials is a wonderful opportunity to review your business performance. You can discover how to improve your business as well as refresh your enthusiasm and drive in the business. Click here to read seven ways you can use your annual financials to improve your business.

Interim accounts - a vital business tool

By Nick Roberts • February 22, 2016
Your annual financial statements have their uses, but by their very nature, they are far too historical to be of any use in managing or improving your business. The most valuable financial accounts you can get your hands on are interim accounts prepared periodically - monthly for larger businesses or quarterly or bi-monthly for smaller businesses in line with your GST return periods. There is a strong correlation between the availability of interim accounts and business survival.  Find out here what having interim accounts to hand means for you

Can't pay your taxes?

By Nick Roberts • February 9, 2016
These are the four most common courses of action you can take if you can't pay your tax:

Protecting your business name

By Nick Roberts • February 1, 2016
o get some advice (we'll be happy to help) and take action today!

How to succeed with cash flow forecasts

By Nick Roberts • January 25, 2016
p.p1 {margin: 0.0px 0.0px 0.0px 0.0px; font: 15.0px Helvetica; color: #3d596d; -webkit-text-stroke: #3d596d} p.p2 {margin: 0.0px 0.0px 0.0px 0.0px; font: 15.0px Helvetica; color: #00aadc; -webkit-text-stroke: #00aadc} span.s1 {font-kerning: none} span.s2 {text-decoration: underline ; font-kerning: none} Preparing an annual cash flow forecast can tell you a lot about your business.  It can warn you with plenty of time to spare that you're not going to have enough cash to survive the next year without getting additional working capital - which is vitally important to know.  Or it could be the wake-up call you need to make some changes in your business. You might need to make a tweak or two, like increasing prices or shedding ineffective staff, or you could discover something more serious, such as you're in a twilight business and it's time to move on. Read more on how to prepare and read your forecast here.

8 Vital Things You Need To Know about Your Business – Each and Every Month

By Nick Roberts • December 9, 2015
Just how much do you know about your business?  No, not about what you sell, or how you make or deliver your products and services, I mean the really important things that determine whether you're going to make it through to retirement or maybe even successfully selling your business. These are my top eight favourite things each and every one of us business owners should know about our businesses.

Simple Business Systems

By Nick Roberts • December 6, 2015
I've said this before (and no doubt I'll say it again) but I'm always surprised at the lack of simple systems utilised in owner-managed businesses. Using the word "systems" can be off-putting because people immediately think it's going to be too complex, too costly or too time consuming but a system can be very, very simple. Using systems makes a huge difference to the way a business operate, read more here.
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