Upgrading or changing your payroll system comes with a ton of wonderful benefits. Saving time and money, making everyone’s lives easier, and better integration are all good reasons to consider a change. But if the switch is mishandled, the results can be catastrophic and lead to long-lasting problems. Read on for some tips on how to avoid a disastrous payroll system migration. 1. Give the project the time it needs… Read more
In a world with endless distractions, it’s no wonder that we find it difficult to complete tasks. Focus is hard to come by these days. This is especially true when you’re working from home. Household tasks that would otherwise be out of sight and out of mind are suddenly in your workspace. With that said, there are some proven methods to help you get things done. Time blocking and Time… Read more
When starting a small business, business owners often think about things like the storefront, branding, and displays. They think of smiling employees and happy customers. It’s not usually the image of the shelves and cupboards in the back stockroom that fill their heads. But inventory is a critical component of your business. Sales are made and lost because of inventory control so it can’t be overlooked or left to sort… Read more
It’s an inevitability in every business – you have to raise your prices to continue making a profit. There are many factors that go into deciding how much to charge, all of which are dynamic. The rising cost of goods, inflation, and a changing market are just a few reasons why any small business has to reevaluate its rates regularly to stay competitive (and to stay in business). While it… Read more
When you start a small business, it’s usually only you behind the whole operation. You wear many hats, from CEO to clean-up crew. As you pour your heart and soul into your business and it begins to grow, the amount of work involved grows with it. Because a small business is so focused on survival, you pay a lot of attention to the bottom line. This makes a lot of… Read more
As prices continue to rise, you’ve likely noticed that your cost of doing business has increased as well. With that in mind, you may be considering raising your prices – as you should. After all, the main point of any business is to make money, and you can’t do that if you’re no longer breaking even. Read on to discover some tips on how to raise your prices, and how… Read more
When it comes to hiring seasonal employees, business owners tend to fall into two groups. Some look forward to hiring temporary workers, knowing that the need for seasonal workers reflects a business season. Some feel that it’s a necessary evil to get through times where the workload is heavy and the permanent workforce is lean. Unfortunately, the attitude is that seasonal employees are temporary, and are therefore not as skilled… Read more
There are a few different methods that employers use to pay their employees, and while they may have similarities, they each also have their own implications for your business and its employees. On top of that, there may be a blended model at play, in which you offer two types of compensation at once, such as a wage and bonuses. How you pay your employees will impact your finances and… Read more
There are many types of insurance for individuals, and choosing the right ones for you can be overwhelming. These policies are distinct, yet they often overlap. It’s smart to review your personal insurance policies any time you have a significant life event. This ensures that you and your loved ones are cared for should you find yourself unable to work. Read on for a brief explanation of the different types… Read more
The unfortunate reality is most business owners don’t take proper holidays. Usually this is because their business relies on them and they don’t have the support to keep the business running without them. As a business owner, have you ever considered what would happen to the business if you had to take a six months break because of a serious illness or injury? Would the business survive? How would the… Read more
When it comes to managing your finances, there are two professions that can help you understand your numbers, and ensure you have a plan to get to where you want to be. Accountants and financial planners can both play an important role in your financial success, but there are some important differences between the two. For any successful business, it’s advisable to have both an accountant and a financial planner… Read more
Financial independence is an important goal for many people. It means you have the ability to support yourself financially, without relying on others for assistance. It also means you control your finances because you make your own financial decisions, rather than someone else making them for you. Regardless of who you are, financial independence makes it easier for you to achieve your dreams. It also gives you the peace of… Read more
Businesses are increasingly moving online to expand their reach and provide the best possible experience to their customers. Being online, however, means more competition, so business owners must come up with ways to amp up their game to gain a bigger market share. If you own an ecommerce business or are looking to start one, read on to learn about ways to delight your online customers. Put the buyer’s journey… Read more
With the potential for business life to return to something resembling normal, it’s a good idea to take a look at your budget and see where you may need to shift some of your priorities. Pay attention to how your spending over the past few years affected your business and either helped you achieve, or took you away from, your overall goals. Considering how your business and your employees functioned… Read more
If you want your business to continue growing and thriving, you’ll need to find ways to bring in new clients. Here are 5 ways you can find new clients for your business. 1. Set aside time for marketing Regardless of whether marketing is your preferred activity, you need to set aside time for it. It’s easy to put marketing at the bottom of your priority list, but doing so makes… Read more
Sometimes you want to try something new when it comes to networking with other business owners. Here are some unconventional ways for you to grow your network and bring in new leads. 1. Collaborate with others in the industry You know your niche, so you know the questions to ask others when it comes to your industry. Collaborate with people who fit your ideal market. For example, you could create… Read more
Virtually everyone can use a savings account to help build up their wealth, but with so many options available, how do you pick the best savings account for you? The number of options available might make it more difficult to select which savings account to choose, but it also means that with a little bit of knowledge, research and strategy, you can almost certainly find a savings account that fits… Read more
As a parent, you may worry about how to ensure your child can receive a post-secondary education. Costs are constantly rising, and you may face high tuition fees as well as cost of living expenses if your child has to live away from home. Here are some steps you can take to save for your child’s education. Be clear about what you can and cannot afford to pay Being clear… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. What an American recession means for Australia What exactly does it mean for Australia if the United States is headed for a recession? Sky News breaks it down here. ASX continues to drop Most of Australia’s biggest companies continued to see major slides in the stock market last week,… Read more
Early retirement may sound like a big dream, but it is achievable if you’re willing to do some planning and stick to your strategy. Here are four steps you can take to put yourself in a position to retire early. 1. Figure out how much money you’ll need after you retire This involves figuring out what age you want to retire at–if you want to retire at 55 you’ll need… Read more