Actions that will make you smarter

Want to expand your mind – legally? A little bit of brain exercise every day goes a long way to help you expand your mind and knowledge. Readers to an online thread shared the habits and actions they follow to fuel their brains and become smarter. Please let me know if you have any ideas to add to this list. Come up with 10 ideas every day on any subject. Read the newspaper. Play devil’s advocate. Read a chapter in a book. Instead of watching TV watch educational videos. Subscribe to feeds of interesting information. Check […]

Are you compelling customers to buy from you or your competitors?

Your competition is stiffer than you think. Your ability to win a sale is harder than you think. It’s because you aren’t just competing with your direct competitors. For example these battles happen… Does a consumer buy a new bed or opt for a Caribbean cruise? Does an engineering business hire a new person or invest in new machinery? Your buyers have a limited budget too. They can spend their money with you. Or they can spend their money on a variety of other products or services fighting for their cash. How do you compel customers […]

What a business should not do!

5 Things a Business Must Not Do

I was recently asked what I thought were the five most important things a business should not do. In no particular order they are: Don’t be over optimistic I generally find that businesses overestimate their income and underestimate their expenses which effects their profitability and cash flow which allied to overestimating the speed of cash inflows can create cash   flow problems. The advice here is to be realistic as possible and also do planning for various assumptions/scenarios. Don’t ignore your continuing education It is essential that you continue to invest in your knowledge base by reading […]

Close Company Surcharge

The corporation tax rate of 12.5% may increase if the close company surcharge is relevant to your company. The close company surcharge provisions discourage rolling up investment, rental and professional income in companies by imposing an additional tax on such income retained and not distributed by the close company. Section 441 Taxes Consolidation Act 1997 provides for a surcharge on certain undistributed income of service companies.  The section defines a service company as including close companies where the principal part of the company’s income is derived from the carrying on directly of a profession or the […]

Successful Brainstorming

I was recently involved in a brainstorming session to examine how a roofing contractor could improve the professionalism of his operation and his bottom line with ideas that could be readily applied at low cost and provide quick wins for him. We quickly came up with seventeen ideas that if implemented would substantially change his business profile, prospects and bottom line for minimum outlay. Due to the success of this exercise we have decided to hold a weekly internal brainstorming session among staff for a selected client to see how we can help generate business growth […]

15 Great Questions to Ask Your Accountant Now!

Do you have any ideas on how to grow my business? Can you give me good ideas on how to improve my cash flow? Can you establish my breakeven point so that I have more financial awareness? Can you create an improvement action plan? What are the key profit drivers in my business? Can you advise on pricing strategies to increase my profitability? Can you provide cash flow forecasts so that I do not get into financial difficulties? What sales improvement ideas do you have that I can act on to increase sales? How do I […]

A tea lesson – should you be better at upselling?

Paul Shrimpling a leading marketing advisor to UK accounting firms recently published the following on upselling. “Upselling can have a transformative effect on profits and client satisfaction too. Here’s a classic and simple example of upselling used by the tea vendor on Fridays train journey home when I asked for a cuppa… “Sir would you like your tea in this larger cup for only 20p extra or would you like less in this smaller cup?” What would you opt for? £1.90 vs £2.10 = 20p I bought the larger amount. Circa 10% price increase for probably […]

A Unique Wedding Gift/Idea!! from Joerg Micansky

Through his  website client Joerg Micansky offers to write, produce and record customised songs for couples on their wedding day. He also has a song store with a selection of beautiful songs which he has written for couples to play at their wedding ceremony or reception. Check it out and pass on the link to anyone who you think might like this – I think every bride to be will love it! Joerg writes and produces all the songs at together with a team of celebrated lyricists from all over the world. His co-writers include Enda Cullen, […]

A coffee drinking educational experience – Pricing Strategy

Bernadette Jiwa, the marketing strategist and author from Dublin but now living in Melbourne, recently blogged her coffee story. “When my family and I were in Venice recently we decided to take a seat in a tiny Cafe in St Marks Square and ordered four hot drinks (anyone who has holidayed in Italy knows what’s coming next!). There was nothing remarkable about the coffee but we walked out half an hour later having paid €37 for 4 drinks.… the most expensive cup of coffee I have ever had.… my husband kept the receipt! The lesson. If […]

Office Insurance – A telephone call for good news!

Your Office Policy insurance will generally cover you for the items that you would expect including property damage, asset protection, employers liability, public and product liability, money and revenue protection. A good Office Policy will provide commercial legal protection which can give you cover for eventualities including:   Employment disputes for past and present employees with cover for tribunal awards (Aviva covers to a maximum of €1.5m).   Tax protection in respect of Revenue audits for professional fees agreed and incurred. You may note be aware of what cover you have so it is highly recommended […]

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