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Good Business

Support in Business is Key

When businesses (and the whole country) closed in March like many people I sat and wondered what would I do now.  I found myself with extra time on my hands because school runs no longer needed to be worked around and I couldn't go anywhere.  I became determined not to waste the time I was given.  I was soon sitting in on various webinars and courses which were conveniently online.  Today I thought I'd give a share of some of the helpful groups, businesses, etc that I came across.

BNI

BNI is hardly a new organisation in Ireland and I had heard of them before but hadn't joined.  After sitting in on a couple of meetings I quickly realised how beneficial it could be.  Having been a member now for about 5 months I can definitely say it was a great decision.  Benefits include:

  1. Grow in confidence to highlight your business and why you should be hired
  2. Referrals to potential clients, rather than cold-calling these are warm referrals where the person is already told about you and usually has a need for your services / products
  3. Accountability, it's not all about what you take but also what you give and being held accountable is good for business
  4. Business growth is, of course, a big plus

There's many chapters all over the country and you can find out more at www.bni.ie or give me a call.

ActionCOACH

Not long before lockdown in March there was a BizExpo on in Dublin and that's where I came across ActionCOACH.  Due to a special offer I had some sessions with a Coach who asked all sorts of questions that really made me think more about my business and where I was going with it.  A course of 12 sessions was coming up that looked at businesses from all sorts of angles - financial, systems, teamwork, marketing, and more - which I knew would be really beneficial.  With the support of a grant from the Local Enterprise I was able to sign up to the course.  It covered a lot of information and while I'm only a new business I still gleaned a little nugget from each session, and banked away many more that can be used as I grow.  I can also bring what I've learned to my clients so they're businesses can grow and be more effective too.

If you'd like to get the benefits of a Coach you can contact them ActionCOACH or give me a call and I'll put you in touch directly.

Support Agencies

Throughout the last six months the Local Enterprise office has been brilliant with support both financially and informationally.  They run great courses and everyone should be signed up to the newsletters which bring out information pertinent to businesses, as well as upcoming events.

Skillnet also run great courses.  One I completed was in Data Analysis & Business Intelligence which was based on using Excel to full advantage for businesses.  These are skills I can now bring to my clients.

What have you been up to?  Are they're particular agencies, groups, businesses which you have found useful especially over the last 6 months?

If you're having difficulty finding out more about the groups mentioned (BTW I don't get anything if you join / buy from them) then get in touch today and I'll be happy to point you directly to people.

Administration

5 Apps for Better Business

I wondered about the title today, thinking 'am I being really presumptuous saying this' but I don't think I am because I use most of these apps and find that they do indeed make my business life a whole lot better.  Let me tell you what they are and why I like them:

1.  Adobe Scan

This is one of absolute favourites.  With it you can scan any piece of paper and save it directly into OneDrive, GoogleDrive, or just on your phone.  You can send it immediately to whoever needs it by email, text or WhatsApp.  I like many things about it such as the quality of the scan, even faded print on receipts comes out clear and those big long till receipts you get from some shops - it can snap it in one scan and still keep it clear!  Did I mention it's completely free too 🙂

2.  Microsoft To Do

I mentioned in last weeks blog about keeping a notepad by the bed at night time for all those late night ideas and to dos you remember.  Well I also keep To Do on my phone and PC.  They are linked so whatever I put in one place is synced in the other, it has reminders and you can set tasks to repeat periodically - such as Monthly Invoices.  It's super simple to use and keeps all your tasks in one place.

3.  Evernote

I used this app before when I was working for a Multinational CEO and it worked a treat.  He would scan all his receipts, etc into it, save them into the relevant folders and then I could log in and pick them up.  It's like having a digital filing cabinet and you can even lock some of the drawers if they're private stuff too.

4.  OneNote

Ok this one I don't use but it was recommended by someone who does.  This app works as a note taker, collaborator and recorder.  So if you're working on a project with other people this is a great app for gathering great minds together and you can all your bits into it.

5.  OfficeLens

Another recommendation from a friend.  This app allows you to scan whiteboards and documents making them readable and savable to storage such as OneDrive, OneNote or Evernote.  You can also save the files as PDF, Images, Word or PowerPoint (this is where Adobe Scan falls down - you can only save as PDF).

Sometimes people aren't keen on Apps or maybe feel like they aren't technologically minded - that's where you phone a friend 🙂  My number is 087 415 1435 and when you or your business needs help please do call.

What other Apps would you recommend?

P.S. no payment was received for recommending any of these Apps.

Good Business

5 Tips for Working from Home

Here we go again, we're back in a semi-lockdown until September 13th.  So I thought today I'd bring you some of my tips for working from home ... again!!!

1. Set up your office space

Might sound like an obvious but I'm suggesting having your office space set up in an area firstly with a door so you can close out distractions when you're working and close it behind you when you're not.  This way when you're not working you're not looking at your office space thinking 'maybe I'll just do one more thing'.

2. Take breaks

When you are working in your usual office you take breaks, right?  Because let's face it no one can sit in the same position for 8 hours straight.  This is just as important as at home, and no getting up to answer the door does not constitute a break.  I mean step away from work, put the kettle on, put some music on, walk around the garden a few times, whatever you need to do to switch off for a little while.  Make sure at a minimum you still take your hour for lunch - if you live in town why not venture to your local cafe or pub that serves food and not only take a break but also support local businesses who are struggling at this time.

3. Log out of Social Media

Unless your job requires you to be on Social Media during the day log out of it.  It drains your time and distracts you from getting work done.  Maybe turn on some music instead, remember you're in your own home it's OK to belt out a few lines with Meatloaf - no one is going to think any less of you.

4. Give yourself a break

No I'm not repeating myself.  What I mean here is - we are in ever changing times and we need to give ourselves a break.  I don't know your exact situation but on March 13th I suddenly became a teacher on top of everything else and my perfect little plan of what I could get done while the kids were at school went completely out the window.  It took some getting used to and realisation quickly set in that I wasn't going to be able to do everything, I definitely wasn't destined to be a teacher.  Sometimes when we are thrust into these situations we expect perfection from ourselves and it's just unrealistic.  So we need to give ourselves a break.  Kids will wander in and ask something when we are just getting our head around that task we've been putting off.  The phone will ring with someone just wanting to chat at the other end.  And that's all ok, because tomorrow is another day.

5. Set up for the next day

How many times have you been in bed at night thinking I need to remember to do this, that and the other tomorrow?  Or is that just me?  Last task before you close the office door behind you should be to write down your To Do list for the next day.  Do a little mind dump of what you have to do, what you want to achieve, who you have to call / email so that you won't be trying to remember everything.  It's also a good idea to keep a piece of paper or notepad and pen by your bed, that way when you get that lightbulb moment just as your eyes are closing you can note it down and go to sleep.

What have you found most helpful while you've been working at home?  What challenges do you have?  If I can help in any way make sure to get in touch.

Bookkeeping

Cash Flows & Budgets

Cash Flow is essentially a forecast based on past experience and current knowledge of income and expenses.  For example, you know that your electricity bill arrives every 2 months so you can look at last year and work out the average.  This is inputted every 2nd month on the CF.  You may need to adjust if your business is seasonal and uses a higher amount over winter for example.  Or if you consider heating oil – this generally is an expense in approximately October and January but not in May or August.

Cash Flow always starts with your current bank balance (if you have multiple accounts you may wish to do a Cash Flow on each one or add them together – just remember which you do so that your Cash Flow is as accurate as possible 😊).

Cash Flow

When you have inputted your income & expenses then your bank balance will update across each month.  What you are looking for here is if at any point it goes red – this is where you need to act.  That could mean applying for loans or grants, following up more strictly on outstanding bills or look at your expenses and cut down where possible. It looks month by month.

A Budget tends to be more project focused or annually.  You will have similar information as in the Cash Flow, but the projects would have more detail.  Depending on your reason for doing a Budget – family expenses, holiday planning, new business plan, new projects in existing business – you will ask varying questions.  Though there are some commonalities such as what income have I and when is likely to arrive, known / expected costs, etc.  But then the projects / reason for doing a Budget gets pieced in so you need to ask questions like what are you trying to do, when does it need to be done by, what costs are involved, what outside support will be needed & what will it cost, what will your contingency be.

This might seem like a lot of hard and time-consuming work but in the long-run it will set you up so that your home or business runs well and you can avoid any nasty surprises!!!

Get your FREE Cash Flow template here and get started today Cash Flow Template

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Administration

5 Tips for keeping up with paperwork

5 tips for keeping up with paperwork
  1. Know your deadlines and plan for completion 2 weeks prior to give time for delays, etc
    • Income Tax 31 October
    • VAT 19th of the month after the VAT period
      • Bi-monthly
      • Bi-annually
      • Annually
    • CRO Returns – Annually on date of registration
  2. Utilise software – finding what’s best for you isn’t always the best, quickest or cheapest way to do it. These days software pretty much does it all for you, but you still have to input the items and know how to read the reports.  They have many great facilities such as Cash Flows, Year on Year Comparison, Project Allocation, RCT reporting, VAT reporting, just to name a few.  They do vary in cost from €15 per month upwards but most offer a free 30 day trial so you can look around and get a feel for them first.

3.  Do little and often. Block off some time each week (minimum monthly) to take care of the books.  That way it doesn’t build up.  Make sure this is time during the day when you would be working anyway and not Saturday evening when you should be spending time with family.

4.  If you run a business where your van is your office, or even if you have a physical office, get a box and get into the habit of putting all your receipts into it as you get them. Be aware that receipts kept in direct sunlight will fade quicker and if you can’t read them then neither can Revenue if they do a VAT audit.

5.  Number everything. Even if they aren’t in date order, if you have them numbered it will be a lot easier to find the one you need in a hurry.

What tips would you add?

Leave them in the comments below

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