Focus500 | Business service

Focus500

Phone: +61 432 169 620

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24.01.2022 This video rocked me to my core. Sometimes you just have to dance with life and play with the universe. Credit: David Lindberg for incredible production and All...an Watts for his voice of wisdom and film scenes from Tree Of Life <3 #Dance #Play

23.01.2022 TIPS FOR A TAX-FREE CHRISTMAS WORK PARTY - Tip #2 The party location is important! The most certain way to ensure festivities are kept tax-free is to host the party at your workplace during the working week, and to limit attendees to staff only. However, if associates of employees attend, it is important to stay below the $300 threshold and satisfy the minor benefit conditions.... If the Christmas party is away from the workplace, it is important to keep cost per person (staff and their family) below this $300 threshold, among other conditions, to retain minor benefit status but remember this is a total of meals, drinks, entertainment and associated benefits. www.focus500.com.au

22.01.2022 Have a Cash Flow budget and monitor the dam thing!! Many business owners don't have a cash flow projection spreadsheet in place to track the impact of how the cash they have or wont have in their business. If they do, they tend to do them for the bank!! Whos more important? You or the bank? If you don't regularly monitor (daily or weekly) the tools you use to manage your Cash Flow, it's likely you will come unstuck in your business. TIP: Set a reminder to monitor Cash Flow reports WEEKLY if not DAILY. PS if youre wondering what the relevance of this picture is in relation to Cash Flow.... nothing!!.... I just like the picture.

21.01.2022 OFFERING CUSTOMER CREDIT - Tip #4 Enforce: Make sure you enforce strict payment terms. Make sure your invoice clearly states when the payment is due by, and follow up with a phone call just prior to the due date to establish that they have your invoice and payment will be made on time. If payment doesnt arrive on time, keep in constant verbal communication to establish why you werent paid and when you will expect payment. Make notes of who you spoke to and what they said. Never let an unpaid invoice slip through your net. Check you Aged Receivables report once a week. Consider withdrawing credit terms to that customer on future sales until the debt is paid to minimise any catastrophe. www.focus500.com.au

20.01.2022 OFFERING CUSTOMER CREDIT - Tip #3 Accurate: Ensure your invoices are sufficiently detailed and accurate to avoid further delays from Customers querying them. Make sure you are sending them to the correct address either postal or email. www.focus500.com.au

20.01.2022 This video will change the way you look at life! Credit: Unkle Adams

19.01.2022 Small steps for peace of mind. Thanks Mat

17.01.2022 Don't mistake FEEDBACK with failure.

17.01.2022 This is great news for small business operators. Have a look at the attached and give me a call if you need further information.

17.01.2022 JOBKEEPER Important Dates You have until 31 May to enroll for JobKeeper if you intend to claim for wages paid for JobKeeper fortnights in April and May. It is important that you pay your eligible employees a minimum $1,500 (before tax) for each JobKeeper fortnight. ... If your pay cycle does not correspond with JobKeeper fortnights, you are not required to change your pay cycle to correspond with JobKeeper fortnights. What is important is that you pay your employees at some time during the JobKeeper fortnight. Call Concetta on 0432 169 620 if you need assistance with either applying for JobKeeper or for the correct set up in your accounting system including Single Touch Payroll. www.focus500.com.au

16.01.2022 Mini Series Part 6: Why businesses fail & are you on track for success? The Five Ps of business: Proper Planning Prevents Poor Performance. At the start of every new venture, project, or trading year, consider the above acronym and you will arm yourself with a greater chance of success. Each word in the saying has its own relevance.... What does it actually mean? Well here is my attempt to break it down into its core parts: 1. Proper Whatever you are doing, the best way to do it is the proper way. There really is a right way to do everything youve just got to research it and find it. If youre not sure, consult with someone who knows. Dont just jump in head first and hope for the best. 2. Planning Consider what it is you want to achieve. Write down the key points. Who will do what, why and when? What will you need or have to do to make it come to fruition? Make a budget to assess the viability and keep you on track. Employ the right people. Use the right equipment and resources. 3. Prevents In the case of a business its important to consider what can be done to avoid business drying up. If your Plan A is disrupted or fails do you have alternatives? E.g. If you can only operate in dry weather what can you do productively when it rains? 4. Poor It is often said that the costs of doing something poorly on the cheap will cost more than doing it properly the first time. A poor job or buying a poor cheaper product that fails could have long running implications on your equipment, your business or your reputation. Do things right and word of mouth will be your cost-free friend. 5. Performance Continue to evaluate your performance on a timely basis, review your budgets, regularly discuss matters with your employees, and monitor your quality control procedures. Maintain your standards and youll have a better chance of reaching your goals. http://www.focus500.com.au

14.01.2022 Here's what you say to those who can't handle your light. Learn Lisa Nichols' 4 secrets to Speak & Inspire. Sign up for her Free Masterclass today: http://go.mindvalley.com/goalcast-lisa

12.01.2022 It's not how much you can earn it's how much you can keep! Not my words but really worth saying.

12.01.2022 CHASE YOUR CASH No on likes asking for money, right? But being proactive to shorten your receivables WILL DO MORE for you than just boost your cash flow. Regular cash flow reduces stress, builds your confidence, strengthens business relationships with your suppliers when you pay your bills on time and mostly gives you a better chance to continue doing what you love and grow your business. Unless of course your running a charity!!

11.01.2022 Take the time to listen.

11.01.2022 Effective SYSTEMS and PROCESSES are the backbone of a successful business. Avoid feeling out of control as your business grows and start documenting those processes right from the start!

09.01.2022 If you are new to the business world and feeling overwhelmed or confused about the action that's needed to get your business ideas off the ground or need help with some sound direction, then come and join me, as I guide you towards the tools that will make that process easier and share with you my 20+ years of business knowledge and experience. I'm really excited to be part of this series of Business Fundamental Workshops running from Sixty27 in Joondalup, WA that will be delivered from July to September so you can gain a better understand of your Mission with a new found enthusiasm for your Vision, to make your journey easier and more successful. Have a look at the link below and join in for Free. https://www.eventbrite.com.au/e/small-business-fundamental-

08.01.2022 OFFERING CUSTOMER CREDIT - Tip #2 Timeliness: Dont delay in sending out your invoices do it the day of sale. www.focus500.com.au

07.01.2022 Mini Series Part 7: Why businesses fail & are you on track for success? Todays topic will be The Competition. Unless youre one of those very few gifted people who can invent something thats never been seen before and capitalise on its uniqueness, you will be operating in a market where you have competition.... In order for a business to survive and prosper it should know all about its competition. If you dont know what youre competition is doing, how can you position yourself in the market to offer either a better quality service or product, or a better value service or product? Its unlikely you can be the cheapest and the best and survive as a business due to public perception that cheap price equates to less quality, so decide what is more important to you and focus on that. What will be your unique selling point? If you dont know what your competitors are doing how can you set yourself apart from them? What can you offer that will make customers use your services time and again, and better still what will they tell their family and friends about you so that your customer base builds? This is not about bad-mouthing the opposition; its about knowing who youre up against and formulating a plan to beat them. If youre a serious threat you can be sure your competition will be watching you. http://www.focus500.com.au

07.01.2022 It's not too late to join in at the FREE - BUSINESS FUNDAMENTALS BREAKFAST WORKSHOP tomorrow morning. Come and join me for some great content, that you can easily implement in your business. https://www.eventbrite.com.au/e/business-fundamentals-break

07.01.2022 TIPS FOR A TAX-FREE CHRISTMAS WORK PARTY - Tip #4 Where do taxis stand? For an employer thinking of paying for a taxi to get their staff from point A to point B, the important consideration in regards to this will be where exactly those points A and B are.... If the taxi travel is from work to a venue where the party is being held (and vice versa), the Tax Office says this is all part of the fun and the fare can be exempt from FBT under special rules. However if some staff members perhaps overload on the Christmas cheer and consequently are themselves loaded into a taxi to be taken home (not back to the workplace), this may attract FBT.

07.01.2022 Super guarantee amnesty act now! The Amnesty Act provides employers with a 6-month long amnesty to disclose historical superannuation guarantee shortfalls (unpaid super), after which a new and harsher penalty regime will come into effect. Contact Concetta Sultan for assistance with this process. www.focus500.com.au

07.01.2022 Mini Series Part 5: Why businesses fail & are you on track for success? A sale without receiving payment is a gift. All too often in busy periods I see or hear of businesses chasing those extra sales without then having the time to sit down and ensure the sales invoices are sent in a timely fashion, are prepared properly, and the debt is chased on time. Unless you are particularly philanthropic this is not good business practice.... If you are prepared to offer credit terms to attract custom then you must make sure the debt is collected. This will take time and effort so make sure you only give credit to those who are credit worthy, and enforce strict payment terms. There are those out there who will only pay when chased. Keep in regular communication with your debtors (customer) and dont exceed your own limits for each customer. Make sure the invoice is sufficiently detailed and accurate to avoid further delays from customers querying them (a common tactic). Regularly check your Aged Receivables reports so no-one gets overlooked and dont be afraid to use Debt Collection services for those who are trying to avoid paying. http://www.focus500.com.au

05.01.2022 ARE YOU STRONG ENOUGH TO AVOID ALL THOSE SHINNY THINGS? Stay focused on what you really want and watch it come to life. It takes discipline, action, time and a determined FOCUS to live the life and grow the business of your dream.

04.01.2022 TIPS FOR A TAX-FREE CHRISTMAS WORK PARTY - Tip #3 Deduction and GST credits for employee gifts? Its a fine balance. While in the giving spirit, the important thing to remember is that if a Christmas gift or benefit to an employee is exempt for FBT, such as a minor benefit, you typically wont be able to claim it as an income tax deduction, nor can you claim any GST credits from the purchase.... Whether a gift is deductible and GST credits can be claimed depends on whether the gift provided is non-entertainment or entertainment. The former includes such gifts as flowers, wine, beauty products, gift vouchers and hampers for example, while the latter includes item of recreation, such as tickets to a musical, theatre, movie or sporting event.

04.01.2022 Mini Series Part 4: Why businesses fail & are you on track for success? Following on from last week, this week well look more closely at Cash Flow Planning. Whether at the start of a business or in the run up to a period of expansion, it is absolutely vital that you know you have sufficient cash reserves to get you out of any short term problems.... Insufficient Cash Reserves are probably THE most common reason for business failure. When you commence trading for the first time its quite likely that your suppliers will expect Cash on Delivery, while on the other hand you may have to offer your customers credit terms in order to secure their custom. This will drain your cash in the interim period. You will need to plan ahead, and consider your own living expenses too so you have a very good idea as to how much cash you are likely to need. In a period of expansion there are likely to be significant costs incurred in adding extra staff, assets, and products, and the sales revenue may take a little longer to materialise to pay for it all. Again this will significantly drain your cash. Detailed BUDGET AND CASH FLOW PLANNING will help you make more informed decisions on how to best achieve your proposed expansion. http://www.focus500.com.au

04.01.2022 A dream is just a dream until you take ACTION.

03.01.2022 OFFERING CUSTOMER CREDIT - Tip #6 Ezidebit Direct Debit System, ensuring you are paid regularly and on time, every time. www.focus500.com.au

03.01.2022 OFFERING CUSTOMER CREDIT - Tip #5 3rd Party Dont be afraid to use a reputable Debt Collection Service if you are not succeeding in receiving payment. www.focus500.com.au

02.01.2022 TOP TIP TUESDAY: KEEPING YOUR CASH FLOWING! Cash flow is what keeps your business going. A good way to help make sure you have enough cash available at the righ...t time to meet your tax, super and other obligations is to do a cash flow budget. You need to make sure your business is likely to be profitable and will have enough cash available at the right time to pay its bills and to meet your tax and super obligations. For some useful tips on how to successfully manage cash flow visit the ATO website or speak to Concetta Sultan from Focus 500 on 0432 169 620 and see how you accelerate the cash flow in your business. https://www.ato.gov.au//Spotlight-on-managing-cashflow-an/

02.01.2022 The 3 sentences that changed Lisa Nichols' life forever Discover Lisa Nichols' 24 strategies to create the life that you want. Download your FREE checklist today: http://bit.ly/FreeAbundance-Checklist

02.01.2022 UK PENSION TRANSFERS If anyone is looking to get some help with the very challenging task of transferring Pensions from the UK, then I suggest you get in touch with Steve Smith. He comes highly recommended as has many years of experience. https://www.linkedin.com/in/stevensmith14

01.01.2022 TIPS FOR A TAX-FREE CHRISTMAS WORK PARTY - Tip #1 Christmas will be here before we know it, and it is likely that better organised employers will already be thinking about their yuletide preparations. While you should feel free to pop a champagne cork or three for your employees, make sure that you dont get the tax hangover, particularly with Fringe Benefits Tax and associated income tax and GST pitfalls.... Here is the first tip for you to think about to try to keep your Christmas tax-free. - Give until it doesnt hurt. There are two words and one Dollar value that businesses need to keep in mind with regard to tax and Christmas parties and gifts. The words are minor benefits, and the dollar value $300. There is a Fringe Benefits Tax (FBT) exemption for providing minor benefits valued at less than $300 that satisfy certain criteria that they are provided to staff or their associates, for example a spouse, on an infrequent or irregular basis, and the benefit is not considered a reward for services. Another thing to note however, is that the $300 threshold applies to each benefit provided, not to a total value of associated benefits. So if, as a generous employer, you host a party and also give a gift to everyone, the party and the gift are considered separately for FBT. If each is less than $300, they are both generally FBT-free. The minor benefit exemption is dependent on the facts. www.focus500.com.au