Business Recharge in Box Hill, Victoria | Accountant

Business Recharge

Locality: Box Hill, Victoria

Phone: +61 1300 982 558

Address: Suite 2 10-12 Prospect St 3128 Box Hill, VIC, Australia

Website: http://www.gavinwaring.com.au

Likes: 479

Add/Update information

Reviews

Tags

• Consultation agency
• Accountant
• Financial service
• Business consultant

22.01.2022 INCREASE IN SALES DOESNT LEAD TO AN INCREASE IN PROFIT Like oil and water they do not mix. A simple and very important business rule -growth does not lead to increased profit. This article will explain that an increase in sales doesnt solve your profit problem.... Read on please.. There is a perfectly good explanation for why oil and water do not mix. Because oil is made up of non-polar molecules while water molecules are polar in nature. Because water molecules are electrically charged, they get attracted to other water molecules and exclude the oil molecules. This eventually causes the oil molecules, or lipids, to clump together. Increasing the business is done through sales. Its a process that burns resources in the business while producing nothing but a promise to buy that leads to sale. The sales forces within a business is in some ways electrically charged as well holding one sale to next in search of constant growth. By nature unless sales is controlled by budgets and other restraints it runs uncontrolled in the business. The sales person works with various market forces (mainly what the market is prepared to pay for a particular item) stock and services available to the sales person to sell and the nature of the industry the sales person works in. The sales process is not responsible for profit, the sales process is responsible for sales. Growth is the outcome from the sales process BRINGING NEW OPPORTUNITY to the business. Its in the exploitation of this opportunity that brings profit, along with all the planning and implementation of the processes of the business and then to measure the outcome through financial results and adjust. Ever hear business owners complain about the sales team under selling. The sales team unless they are controlled, managed and have fixed goals of volume and of a sales price to suit the operational process will always sell out cheaply (will nearly every time) because to make the sale is the nature of the beast. The assumption that the sales people and the sales process has something to do with the increased profit and outcome of the business is fundamentally wrong. Many businesses we see talk about a time when they turned less and made a profit. The assumption about growth and profit kills a business every time. Like oil and water, growth and profit are made up of differently charged particles and knowing this is important to the business surviving growth and then turning that growth to making profit. Your Business needs to be profitable, make surplus cash or you are doomed. Growth should always come second from planning a profit, so that growth will dove tail into the planned profit and bring the rewards that your business should have. BUSINESS RECHARGE UNDERSTANDS THE IMPORTANCE OF PROFIT FIRST and then growth second. These two hostile strategies in a business needs one to be master, and its profit that must be the master.

21.01.2022 DO YOUR STAFF KNOW WHAT THE HELL IS GOING ON.....two questions 1) Do your staff know what is going on 2) Do they care about your business enough to repair, recover from or save any situation. Take going to the Movies at Verona Cinema in Oxford Street - I went to the movies on Saturday with my wife...its a pot luck thing we just go and see what ever is the next movie. Its a great way of seeing great movies you would never pick and the Verona has always a great selection of mov...ies so we are rarely disappointed. So we arrive and have 50 minutes before the next movie. Up all around the theatre are posters for a cocktail that is part of the celebration of the release of the film about Grace Kelly. My wife agrees its sounds a good idea to have one before the movie so I order one. And then....all the staff start asking each other...do you know how to make one, no......have you made on yet.......no.....and I see the confusion, here are posters everywhere advertising a cocktail and NO ONE KNOWS HOW TO MAKE IT. Two things.....One, I should be upset that I have just ordered a drink that no one has any idea about and it starts to dilute the pleasure of selection and anticipation that goes with food and beverages.....but the second thing, one staff member recovers the situation, says he will make the best cocktail as it's the first time he will make it.....and gets on with the ceremony, be it reading the receipt as it goes. My wife announces that its a fabulous cocktail - though I thing the serious measure of Gin helped. Something like telling the staff - teaching the staff - taking a run through of making the cocktail is essential. Its like the marketing and promotion arm of the businesses isn't talking to those who are working directly with the clients. In so many circumstances this can loose clients you have fought so hard for.....two things that saves Verona for me, one I love this business so much its my institution AND SECOND.....the staff cared enough they could recover. Simply - are your staff informed about all products and know what the marketing process of the business is. Unsure how all this works. Call us at Business Recharge 1300 982559

20.01.2022 GROWING PAINS - Don't smash into a brick wall - Part One As your business grows you face all sorts of problems, lets over a number of postings discuss some of those. Payroll Tax - it sneaks up on you and before you know it you need to find more money for tax.... You can become liable for payroll tax when your payroll reaches $750,000 per annum (2014 - 2015 financial year). HOWEVER THE CALCULATIONM IS CALCULATED MONTHY - so you may become liable as soon as your payroll reaches $61,644 in a 30 day month. Watch out if your business is seasonal you may be liable for a few months when you peaking your business. Payroll is calculated to capture your total workforce across Australia, as well it is also calculated on a group basis. If two or more entities are obliged to be grouped, then the total wages and salaries paid by the group is used to calculate the payroll tax but only with one threshold. If your payroll is growing you need to investigate what is the cause and effect of payroll tax per state, understand group provisions more carefully and what is the effect of using subcontractors. THE PAYROLL TAX RATE IS 5.45% - OUCH!!!! In addition to wages and salaries, payroll for payroll tax purposes can include allowances, fringe benefits, salary sacrifice, superannuation and many other employee costs. To get through this 2 things are important 1) You are going to loose a lot of cash flow and you need to plan the business through this period - it can break some very fast growing businesses that are price driven 2) Make sure you understand all aspects of this tax. Especially when dealing with contractors. Business recharge is well resourced to discuss the above issues with you Contact us and see what help we can give you Phone 1300 982559 and ask for Business Recharge Services

20.01.2022 SCALEABILITY - Business activity goes up and it goes down. Keeping your business scalable means that you can grow and shrink your business and still maintain profitability. Our BUSINESS RECHARGE product examines assets in businesses and looks at the utilisation and return of those assets against the cost to keep (lease & HP) and maintain. While hiring equipment might look more expensive, as long as you can offset the cost on any project, it means that the end of a project or... a busy phase you can pass the assets back to the hire company - ending the only liability which was the hire. BE IT AN EXTRA TRUCK, A DIGGER OR DOZER - its costs a lot just to own them. The same for staff. Casual staff and the use of sub-contractors (who should be engaged for a fixed fee for fixed work)MAY COST MORE BUT WHEN THE JOB IS FINISHED YOU DONT NEED TO KEEP PAYING - looking for jobs just to keep staff busy has been the downfall of many businesses. Business Recharge looks at making a business scalable - so that cash flow and profit can ALWAY be maintained.

18.01.2022 Weekend Reflection CHANGE YOUR BUSINESS AND GAIN WORLD PEACE - ONE PICKLE AT A TIME No Im Not crazy.....Continue reading

15.01.2022 The CEO of Business Recharge and Your Business Angels invites you to have a free review of your business with him and or his senior staff. This is complimentary and may have great benefits for you and the business.

15.01.2022 Make something great form compost It’s one thing to recognise that there are aspects of your business that are at a business point due for evolutionary extinction because the market is slipping away or the demand is so low that the only one left standing will survive (I believe there is only one die maker in Melbourne now) or that it’s a dinosaur and needs to make massive modern changes to be competitive OR that’s you could be sitting on something wonderful and not even image... that you could exploit it. Let’s consider Peat and see if you can see a metaphor for your business. Peat (turf) is an accumulation of partially decayed vegetation or organic matter that is unique to natural areas called peatlands or mires. Peat is a solid compacted moss that accumulates slowly in bogs of Ireland and Scotland in places you wouldn’t go summer camping. Peat has traditionally been used as a low value fuel on fires that are very smokey. No one got rich cutting peat, and probably never will. But treating the barley malt with peat fires and water that has been filtered through peat bogs to make scotch whiskey you have a multi-billion dollar business from a few dozen soggy valleys (remember no camping) on the Celtic fringes of Europe. That metaphorical bog you are sitting on might be magic in some other form. Remember Thomas Edison invented the gramophone to record a dying man’s last words (women apparently may not have the last word) as well as famous speeches. He was appalled that his new invention was used for music. Got an idea or a peat bog that you don’t know what to do with. Give us a call and come in for a chat. Maybe we can see the magic in what you have as a business or business idea and help you go forward.

14.01.2022 AN ARTICLE WRITTEN ABOUT OUR CEO From The Lounge Australian Post Pile em high, sell em cheap might work for big business, but it is rarely a good strategy for small...Continue reading

14.01.2022 YOU CAN RENT MONEY........and it will give you more flexibility in your business. If I am doing business in Adelaide where our companies don't have offices or resources I arrive and rent a car. Its logical, I will need that car for one or two days then I return it. Compared to buying or leasing on a daily basis it would be very expensive, but I only needed the car for two days so it made financial sense to rent a car - rather than own one that sits in the Adelaide airport and... doesn't get used 330 days a year. MONEY IS THE SAME. Some many business owners have large debts with financial institutions they didn't really need, but because they had the money - it was spent - SO NOW THEY HAVE CORE DEBTS THEY ARE CONTINUALLY PAYING, and these debts are usually secured against the family home. While bank loans secured against your family assets may look cheaper (and are) than other loans they can remove your businesses scalability - you have borrowed all you can and you are stuck. Finance like Factoring may look expensive - but I always describe it as RENTING MONEY. Its a loan against your debtors - your debtors go up, so does the ability to borrow against the facility, your debtors go down, the debts on each debtor is extinguished and the costs go down as well. This flexibility with your finances, also helps with your businesses scalability. IF YOU HAVE A GOOD MARGIN, quality debtors and great accounting system, there are a number of products in factoring, be it a fixed contract or spot factoring that will certainly help drive the business. SO BEFORE YOU LOCK YOURSELF DOWN TO SOMETHING INFLEXABLE, sign away the family home, really investigate your options or maybe discuss this with us. BUSINESS RECHARGE is here for your business to be profitable and strong.

13.01.2022 Make something great form compost Its one thing to recognise that there are aspects of your business that are at a business point due for evolutionary extinction because the market is slipping away or the demand is so low that the only one left standing will survive (I believe there is only one die maker in Melbourne now) or that its a dinosaur and needs to make massive modern changes to be competitive OR thats you could be sitting on something wonderful and not even image... that you could exploit it. Lets consider Peat and see if you can see a metaphor for your business. Peat (turf) is an accumulation of partially decayed vegetation or organic matter that is unique to natural areas called peatlands or mires. Peat is a solid compacted moss that accumulates slowly in bogs of Ireland and Scotland in places you wouldnt go summer camping. Peat has traditionally been used as a low value fuel on fires that are very smokey. No one got rich cutting peat, and probably never will. But treating the barley malt with peat fires and water that has been filtered through peat bogs to make scotch whiskey you have a multi-billion dollar business from a few dozen soggy valleys (remember no camping) on the Celtic fringes of Europe. That metaphorical bog you are sitting on might be magic in some other form. Remember Thomas Edison invented the gramophone to record a dying mans last words (women apparently may not have the last word) as well as famous speeches. He was appalled that his new invention was used for music. Got an idea or a peat bog that you dont know what to do with. Give us a call and come in for a chat. Maybe we can see the magic in what you have as a business or business idea and help you go forward.

12.01.2022 WANT TO IMPROVE YOUR PROFIT BY 10% THIS YEAR? The 1% solution program THAT INCREASES BUSINESS PROFIT (not sales) can work for you - but its as much about your personal culture as it is about changing the business. The average business doesn't improve its profit or go anywhere because THE STAKEHOLDERS FORGOT WHY THEY WENT INTO BUSINESS.... The 1% solution can work (in parallel with having the accounts absolutely up to date) as long as the stakeholders will change. Sure many business owners want the business to change, but they wont change ourselves - AND THATS THE KEY. Things being done differently in the business, means things being done differently by the stakeholders. The 1% solution program looks to improve the bottom line of the business by 1% per month for 12 months (we assume that you cant hit the whole 12 months so we call the objective 1%) so that we end up with a 10% saving. Each aspect of the business is cut and put back together LOOKING FOR THAT 1% IMPROVEMENT. Each change in the business needs to go through a process where the changes are implemented so that they become "ingrained" in the way the business deals with that particular aspect of the business and the 1% remains on the bottom line. BUT THE BUSINESS OWNER MUST REALLY WANT IT. Feel that you wants a 10% better profit, then give us a call and we will discuss your particular business.

11.01.2022 What sort of business are you running? Do you have the flexibility of a cat, or has your business become stuck like the giant Panda that went down an evolutionary cul-de-sac and now has found it too late to reverse. Here is what could be considered a jaundice observation of the situation by Alan Beattie an economist while writing in his book False Economy....Continue reading

11.01.2022 Building a business......Highway robbery - "opps!" I mean payroll tax could really hurt your business, the tax is very high and drains cash from a growing business The worse thing about is that many owners miss it and when the guys with the masks and pistols arrive from the State Revenue Office you may be well in debt - IF YOUR BUSINESS IS GROWING QUICKLY - NOW IS THE TIME TO MODEL AND COST IN PAYROLL TAX... Payroll tax is a state tax calculated on wages paid, or payable, by employers and applies in all Australian states and territories. ATO will exchange wage-related and other information with the state and territory revenue offices for their identification and assessment of tax liabilities. Employers with an expected payroll above $550,000 per year should check registration requirements and payroll tax rates in their state. For payroll tax purposes, wages in general include: Salaries, allowances, director's fees, super, fringe benefits, and more For NSW Threshold is $750,000 annually at the rate 5.45% For VIC Threshold is $550,000 annually at the rate 4.85% from 01/07/2014 (decrease in rate only by 0.05% For WA Threshold is $800,000 annually at the rate 5.5% from 01/07/2014 If estimated tax payable in a financial year is $6000 or less, payment can be made on annual basis for NSW, otherwise if more than $6000, the Due date for each monthly payment is due within seven days after the end of each month, and annual reconciliation and payment are due by 21st of July.

11.01.2022 Business Recharge Its about the business being MORE for you Business Recharge is a consulting and coaching service which gets you better return and rewards by capturing more from your business and its markets. We work on set goals measured through the accounts and company data so we leave you with a more dynamic scalable business that will service your needs into the future. ... Its not hot air and fluff. The accounts will show the improvements in your business so that you have real evidence of the results.

10.01.2022 PEOPLE ARE LESS RELIABLE WHEN THEIR EMOTIONS RUN HIGH, when they are subject to misleading cues, unusual conditions, distractions or external pressures. YOU ARE LESS LIKELY GO GET WHAT YOU WANT if you haven't picked your place, both environmentally and emotionally, correctly. PICKING THE RIGHT TIME FOR NEGOTIATING, giving a quote or working with staff is often as important as the actual task. If you are in great mood, you are well rested and your mind is well focused, those ...around will pick up on it and your tasks will be completed easier and with far more benefit to all, your ability to get that yes will increase. SO MUCH OF BUSINESS IS THEATRE, and your performance will be much better if you are in the right mood, have prepared yourself well and are calm. If thats not the case then you might be best to postpone a task or meeting, especially if you emotions are running high over something.

09.01.2022 FOUR OF THE TOUGHEST QUESTIONS FOR YOU if you have been running a business without much though about directions here are four questions we ask our Business Recharge Clients at the beginning of the program They may look easy......BUT MOST BUSINESS STAKEHOLDERS FIND THEM HARD... DESCRIBE THE BUSINESS? this is the business and not the products or services. WHAT DO THE DIRECTOR(S) AND STAKEHOLDERS DO IN THE BUSINESS? this isn't the tasks that are performed to deliver product or service this question is about running the business. WHAT DO THE DIRECTORS THINK THE CURRENT IS? who, how why of sales and clients DESCRIBE WHERE THE DIRECTORS AND STAKEHOLDERS THINK THE BUSINESS IS GOING and without goals and strategies and tactics to deliver the goals the answer has to be "nowhere". if YOU WANT TO HAVE A BUSINESS DIRECTION, talk to me about what business recharge could offer you. And we will start with the above 4 questions.

09.01.2022 IF YOU ARE IN BUSINESS ARE STILL GOINGYOU ARE A MIRICLE A new study says that Australia lost ground on all 4 direct drivers of manufacturing, competitiveness. WAGES SURGED 48%, the dollar appreciated 21%, productivity slipped 1% AND ENERGY JUMPED 80%.... AND YOU HAVE SURVIVED You have every day risked your business and family home You have survived the GFC Probably have been burnt by another business financially as it went under Probably struggle with a confusing business structure, a business model that needs to change and a Nagging tax debt. AT BUSINESS RECHARGE We believe passionately that the 3.5 million micro-businesses and the 800,000 medium-sized businesses in Australia are the key to the nations financial, cultural and spiritual health. Businesses represent creativity, generosity, and hard work in the fulfilment of dreams and ambitions that are paramount to the survival of our country. We are here to serve those people who are owners and stakeholders in these businesses. WANT YOUR BUSINESS TO BE SPECTACULAR AGAIN Call BUSINESS RECHARGE CEO ON 0419578707

08.01.2022 GET YOUR CALCULATOR OUT AND SEE WHAT YOUR STAFF REALLY COST YOU PER HOUR (see below for the formula) In November 2013 the average weekly wage was $1,437.70 which is an increase of 3.2% on the year before. Thats $1,510 including superannuation and Work Cover (averaged) which is $78,558.20 per year. If the average employee takes 4 weeks holidays per year, 11 statutory days and 2 weeks allocated sick and personal leave per year that means the real weekly cost is $1,793.55.... If the employee is working 40 hours a week then the hourly rate is $44.85 per hour. Of course this is even more in industries such as the building industry where the days worked and hours per day worked are dramatically less. Reading as I do IBIS Industry reports I can tell you no businesses are experiencing growth of 3.2%. That is to say the average business in Australia cannot keep up with wage growth. So there is only one thing to do make sure you are better, a lot better than average. 1) Examine your business and make sure you have the right balance between full time and casual (costs more but more flexible). Can your business use subcontractors working on a set rate for a fixed job. 2) If you have full time employees are they working in a team to serve and maintain your client base? Are they working with clear SOPs (standard operational procedures) and is there a clear line of supervision to deal with new or unusual issues. 3) Is there a process of training, formal and informal that dramatically or incrementally improves the skills and quality of the work that your employees bring to the business? 4) Are there workflow programs or is the accounting program designed to measure the value your staff are bringing to the business, so that the real hourly rate can be measured. Of course your market may dictate what you earn but every business can improve its efficiencies and provide a profit for the stakeholders. Having staff who are on board with the business, work well, work hard and on the whole are happy then you are better placed to make that profit. But unless you are measuring it you will never know. The formula (short hand) to calculate hourly employee costs WEEKLY WAGE X 1.095 = THIS FIGURE X 1.05 (WORK COVER) = THIS FIGURE X 52 = THIS FIGURE DIVIDED BY 43.8 = THIS FIGURE DIVIDED BY 40 (OR HOURS WORKED EVERY WEEK) = HOURLY WAGE COSTS (Frightening isn't it)

08.01.2022 CASH FLOW IS FINITE - that is it can be measured and calculated based on the products and services you have, how often you sell these services and what it costs to sell them. PUT SIMPLY EVERY TIME YOU SELL ON PRICE TO GET THE SALE...you have dramatically reduced your cash flow in so many ways and have joined the "race to the commodity bottom" no matter what margin you think you have. IF YOU HAVE EMPOWERED YOUR STAFF TO GIVE DISCOUNTS AS WELL....then the cash flow formulas ca...n work out when you will go broke. AND YOU WILL. I BELIEVE THAT IF YOU WALK AWAY FROM REDICULIOUS DEMANDS OF DISCOUNTS FROM CONSUMERS AND OTHER BUSINESSES, you will soon make better profits and have a stronger business, as long as off course you have a great offering that is desired by the buyer. (They will probably buy anyway) Let me give you an example. I have yesterday spend 2 hours with a retailer with a 3 million dollar turnover. Apart from his total lack of control in his business (and my belief that there could be a lot of wastage, theft and other issues) the flow of cash is slowing and the business will soon choke. This business owner gave me an example of how he sells. Its furniture and he related this story of how a person came in and identified $14,000 worth of furniture (in peak season) and then offered $10,000.00. The owner quickly capitulated at $11,000.00. ONE - The sale based on the accounts I saw and the margins, and he would have just covered costs "and a bit more" not enough for the overheads, which means the sale drove the business backwards. TWO - IF THE SALES WAS LOST BECAUSE OF THE DEMAND FOR SUCH A DISCOUNT, then the items would have remained in stock, soon sold for a higher margin (at least 25% more) and even if the sale was piece by piece and the time delay added a $1,000 to overheads the profit and the cash flow (the businesses ability to restock and create a dividend for the owner) would still have been in place. BY THE WAY, my assessment of the accounts and the margins shows that the business turning over $2 million and sticking to its key margins would have been profitable and sustainable. This get's back to my key theme when working with clients - I only focus on profit not sales. The sad thing is this business owner had forgotten what a profit was, what taking reward was and will soon be broke. BUSINESS RECHARGE UNDERSTANDS THE IMPORTANCE OF PROFIT FIRST and then growth second. These two hostile strategies in a business needs one to be master, and its profit that must be the master.

08.01.2022 How Long Is A Piece Of String In business now its important to remove all variables from your planning. As much as possible everything should be planned so their is a minimum and or maximum financial costs for the business is known. From having large materials costs planned and mapped out so that you know exactly what you will pay, having fixed labour costs, especially if you can use subcontractors down to having a phone plan, all means you can do your costing's, perform your... tasks, complete your costing and most importantly "make a profit". Businesses that know their costs don't undercharge and loss money, don't take on work "just for cash flow" and businesses that know their costs know when they have to scale up, and when they to scale down. Want to stop dealing in guess work - end the pieces string accounting and give us a call

08.01.2022 Making up your mind about something - I have just spent time with a potential client who walked in and said "It took me 70 minutes to get here - um no it took me 5 years" There seems to be an issue within us to ask for help. It took me 20 of my business years to ask for help - for small and large things and now its a habit.....I am asking....and learning and gaining from this habit every day.... The reaction above is typical. Many business owners sit on potentially profitable businesses, and what to go ahead and make the changes that will bring them the rewards. But they are not in the habit to ask - they go far without help why do they need to now. With our business Recharge product we work with the clients to gain the best result - they only have to ask - and make the journey

07.01.2022 My Passion is to See AUSTRALIAN BUSINESSES FLOURISH As CEO of Your Business Angels group, I have always enjoyed working directly with business owners who want to progress their business. I look to consolidate what the business has built, confirming what has already been achieved and then accelerating the business's PROFIT. My goal is to maintain its existing strengths while developing greater resilience and building on its potential to generate more profit.... I now offer my services to owners who wish to work directly with me to make sure their enterprise operates at its best, using resources which in most cases already exist and without placing personal assets under stress. My product Business Recharge uses the resources of your business to generate as much profit and growth as possible. I am an evidence based consultant. This means working through the evidence the business provides (what accurate and up to date accounts tell us). I consider existing resources and how to get the optimum return. I look at the markets and diagnose staff, product and client performance to identify the direction which will lead to best results.

05.01.2022 Are you your brand? Could you break free from your business? How many businesses rely on the character of the owner for its reputation and position in the market place. What would happen if you changed the name of your business??? While there is nothing wrong in a name being a brand such as "Dick Smith" or "Harvey Norman" its important to decide which one you are building. Dick or Harvey don't have to greet us as we enter the businesses that operate under the banners because ...we know that this is the name of business. Have a look at your business, is it based around your skills and clients "just want to deal with you" or are they satisfied that the "business" and not the stakeholder can service their needs. Its a long "haul" to develop your business so that the brand and not You develops the trust and support of your market and tribe. Remember this as you plan your marketing and services of your business (and how your clients will feel about them). A business that is free of the stakeholder is far more valuable when it comes to selling it.