Quick Daily Marketing Ideas

Ric Willmott the Australian business consultant and author advises that you should: “Every day engage in marketing activity to attract potential clients to you and your offerings. Invest 20-40 minutes every day and the momentum will build that it actually becomes harder to stop than to continue. What can you do? Send a handwritten note to a client. Take an existing client to coffee to talk about them — not you. Give a referral to an existing client or a colleague. Ask for a referral. Ask for a testimonial. Write and disseminate a press release. Write […]

How You Benefit From Your Accountant Putting You to Sleep — Again!

We all agree that we are not getting enough sleep. In my younger days I was a great believer in cat napping at lunchtime for 15/20 minutes. It is now known as power napping. I found that taking a timeout to sleep during the day gave a quick energy boost. Research now shows that it also has cognitive and health advantages. Studies are showing that naps can restore our attention, the quality of our work, while also helping us reduce our mistakes. It also improves our ability to learn while on the job. Power naps can […]

Book Summary – Currencies That Buy Credibility

Tom Wanek in his book “Currencies that buy Credibility” (2009) teaches the six currencies that you can invest in to purchase credibility in the market place to drive more traffic, sales and word of mouth business. The 2008 Edelman Trust Barometer says “that most ads today lack believability” and that companies would be wise to pay more attention to fostering trust in advance with their customers as trust can serve as a catalyst for company growth. Neurologists have discovered that humans are uniquely gifted to detect and respond to trust in other humans. We use these […]

10 ways to get the best value out of your accountant

I came across the following article on taxdonut which is reproduced in its entirety. Your accountant can sort out your tax return or your annual accounts and provide advice on a range of issues, but how do you get the best return on the fees you pay to an accountant?  Choose carefully. Look for accountants with experience of your type of business. Anyone can set up as ‘an accountant’, so look for chartered or certified accountants, whose qualified status is backed by membership of professional bodies. A large firm suggests reliability, but a smaller one may […]

Are There Different Types of Directors?

There are five types of Directors:   Executive Directors are directors involved in managing a company e.g. Managing Director or Sales Director   Non-Executive Directors are directors not involved in the management of a company. They may be knowledgeable and experienced enough to be appointed to the Board of Directors to provide advice.   Alternate Directors are chosen by directors to act for them in their absence.   De facto Directors perform the duties of a director even though they are not formally appointed or registered.   Shadow Directors are not formally appointed as Directors but […]

Simple Business Rules!

Harvard Business Review recently published an article “Three Rules for Making Your Company Truly Great” based on research of 25,353 companies over 44 years.   According to the article the three rules are:   1.     Better before cheaper i.e. it is better to compete on differentiators rather than price.   2.     Revenue before cost i.e. it is better to prioritise increasing revenue over reducing costs.   3.     There are no other rules.   Business cannot be made any simpler! PDF

Proper Company Secretarial Records

A company is required under the Companies Acts 1963 to 2012 to maintain the following: Register of Members Register of Directors and Secretaries Register of Directors’ and Secretary’s Interests Register of Debenture Holders  Minute Books   It is the responsibility of the Directors of a company to ensure compliance with all provisions of the Companies Acts, 1963 to 2012. We recommend that the Directors of a company carry out a health check on the Company Registers and Minute Books of a company annually to ensure that the Statutory Registers and Minute Books are up-to-date and compliant […]

Revenue Crackdown on Independent Contractors

Revenue is preparing a crackdown on thousands of engineers and IT professionals after uncovering “deliberate understatement” of tax by those who have set up companies to trade as independent contractors but work for a single client. The planned swoop, notified by revenue to tax advisers last week will concentrate initially on Cork, Limerick, Kerry and Clare, although a nationwide investigation is expected to follow. The current move represents the first attempt to extend the PAYE net to a growing army of IT professionals who prefer the flexibility of working as independent contractors. Revenue is offering reduced […]

Frequently Asked Questions – Sole Trade

Over the last number of months we have received numerous questions by email and blog comment. Below are a selection of the most popular questions relating to setting up a business as a sole trader.   Can I register as a sole trade and continue to work in my current job? Yes. You can register as a sole trade using Form TR1 and continue to work in your current employment. Once registered as a sole trader you are required to submit a tax return by the end of October each year which will include all your income, from […]

How Low Should You Go – Healthy Margins

Maintaining a healthy margin is essential in order for a company to survive and continue to grow. Appropriate pricing and monitoring costs are key components to establishing and maintaining a strong margin. Here are some key points on determining how low you should go with pricing your product/service.   Points to remember to maintain healthy margins:   Have the most up to date information regarding costs – this is the basis for determining your selling price. Ensure volume does not decline as this will increase the overall overhead cost per unit and so decrease the margin […]

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