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Month: May 2019

Still relying on email? Enhance team communication with these tools…

Posted on by Carolina Jaramillo

The world has changed. Work has changed.

The possibilities provided by cloud and mobile technologies are beyond what most people would even have considered possible just a decade ago.

But have you adapted and updated your systems to keep up with — and take advantage of — these exciting and fast-moving changes? Or are you still determined to drive the steam engine?

You may not realise it but if you’re still emailing and Cc-ing and Bcc-ing the whole office in on messages — and this is your main (or only) internal team communication method — then you are still puffing away on the steam engine.

You’re left behind while everyone else is taking fast bullet trains to get to their destinations safely and more effectively; you’re relying on out-dated technology.

The McKinsey 2012 Social Economy report found that:

● The average corporate user spends about 25% of the workday answering and sending email
● 25% to 30% of time spent on email could be saved if the main communication channel was switched to a social platform

Most businesses could use a little more time and productivity back in 2012. What about now?

Years later and the bottom line is this: If you run a team of professionals that needs to collaborate on work, you need to start taking advantage of the many tools available beyond simple email, in order to be more productive.

There is an array of project management, collaboration, chat, and email enhancement tools that help your team communicate more efficiently and get work done more effectively.

So what tools are available – and how, specifically, can they help you be more productive?

Chat and messaging tools

Chat tools allow you to securely and privately talk to individual team members or interact with the whole team.

There’s no writing emails, no waiting for emails to be read, no wondering if people have read what you wrote or received attachments…it’s all a lot more direct, real-time, and collaborative.

You attach relevant links and files as you go, virtually rendering email defunct for some organisations in terms of internal communications. Some organisations even use chat tools as the main interface and communication channel with clients.

Below is a brief overview of a few of the most popular ones.

● Slack

Slack is built for communication between everyone from freelancers to large enterprises. It has customisable real-time messaging, archiving, and also search… from mobile or desktop devices running Windows, Mac, or Android.

It features built-in internal and external sharing options, open channels, file sharing, notifications, and there is flexible file browsing and integration with Google Docs and Dropbox.

Free versions are available, which are great for freelancers.

● Hipchat

Hipchat is designed specifically for chat amongst team members in small and medium businesses. Available for Windows, Mac, Android, and Linux, it is fully customisable.

The app offers easy screen sharing, secure guest access, SSL encryption for security, simple file sharing, and unlimited chatrooms.

A free version is available; a paid version offers more functionality (such as video calling) for a small monthly charge.

● Telegram

Telegram is a free app, regardless of the amount of chats stored (unlike Slack). It also offers similar features to Slack but with unlimited search history. It only works off mobile.

A great feature of Telegram is secret chats, by which you can share sensitive information like passwords. Privacy is a big deal. It also offers audio notes – another cool feature.

Being open source, there is a support community to back it up.

Collaboration tools

Collaboration tools go beyond simple chat tools. They may include a chat component to them but their key function is to organise work and to make collaboration on projects and project management easier.

As the nature of work has changed with the mobile and cloud revolution, more people work remotely than ever before.

Nowadays, it’s not just the travelling salespeople who aren’t based in the office. The office itself might not even exist!

Collaboration tools allow remote teams to work together as if they were at adjacent desks in the office – often from opposite sides of the world. This is partly what has enabled the wholesale hiring of freelancers in many businesses.

Below is a brief overview of just a few of the most popular from the many collaboration platforms available.

● Basecamp

Basecamp is a cloud-hosted project management platform. Created 10 years ago, it is one of the most established and popular online suites available, with many millions of users. It is capable of looking after large enterprises or small businesses.

Simple to learn, reliable, and full-featured, it’s easy to organise people, delegate tasks, and monitor the progress of projects.

● Trello

This is another of the leading project management tools available but different in design to Basecamp. It uses a ‘kanban’ board set up.

Within these boards (projects), a series of cards represent tasks. These cards can be used to invite team members to, in order to assign tasks and track the progress of a project, and to categorise work in relation to the project. Simple to use and reasonably priced.

● Wrike

Wrike is another project management tool that allows you to prioritise assignments and monitor updates in real time.

It assists with task management, has an interactive timeline, allows document collaboration and discussions in tasks, and can be used on iPhone and Android as well as desktop.

Wrike can also be integrated with email, Google Docs, and Dropbox.

● Asana

Asana is another of the most popular project management tools to replace the need for email.

It makes team communication and collaboration easy, with the ability to easily create projects and tasks, and to follow the progress of projects.

Team members can be added to projects and tasks, with files shared and messaging made easy between them. It is compatible from both desktop and mobile devices.

● Podio

Podio has a dedicated following of over 400,000 teams and makes communication, organisation, and project workflows simple.

This customisable tool is suitable for small and medium business, as well as freelancers. It has a strong social core, with activity streams featuring comments, likes, and status updates. Anyone with a company email address can join and collaborate on a thread.

Email integration tools

Email may still have a place in your business, even with social tools being introduced. But, like with an old car that still gets you from A to B, it may need a few accessories to do its job efficiently.
There are several email tools that can jazz it up and help email to better meet the requirements of a modern business.

Email should no longer be treated as the sole communication tool; instead, it needs to interact with the social tools you introduce.

Email inboxes need to be unified and shared across teams and no longer designed as separate silos of info for individuals: email needs to be integrated into the new reality of a collaborative, information-sharing platform.

Here are just two of the great tools available – a simple search on Google will suggest more:

● Karbon

Karbon is actually is actually a workflow management application, with a focus on the accounting industry. It helps accounting firms manage client work and email communications.

One of its main features is email triage: This allows all emails to enter into a single repository to be assigned out as work comes in: a much more efficient way of organising emails than the traditional individual account set up.

● Hiver

Hiver is another tool that helps you manage your email better. Effectively it turns Gmail into a help desk, bringing all the features you need for your help desk right into your Gmail account.

It is able to rapidly delegate emails so that communication becomes more seamless and customers receive better, more streamlined service.

Collaboration: there’s no time like the present

During the 90s and noughties, email became an indispensable business tool. Now, however, it is replaceable.

In fact, in many cases it needs to be replaced as it ends up wasting too much employee time and damaging productivity.

The beauty of most of the chat, collaboration, and email enhancement tools detailed above is that many of your staff will already be familiar with how to use them.

They are probably using similar social apps for chat and messaging in their private lives. This creates a low barrier of entry that should be embraced by businesses: very little training is required!

Of course, you will need to create some usage guidelines but simplicity is key here: Most of these tools are so easy to use that you can literally implement a new system and have people using it to collaborate almost immediately.

If you would like assistance in selecting the right chat or collaboration platforms for your business, one of our qualified professionals can help. Simply contact us here.

9 ways for small business owners to keep the taxman happy

Posted on by Carolina Jaramillo

When Benjamin Franklin said that the only things certain in life were “death and taxes” most people didn’t consider that they may be closely linked.

But problems with taxes can lead to the death of your small business unless you take steps to keep the taxman off your back.

With sales meetings, recruitment, salaries, cashflow issues, marketing, suppliers, and a whole string of other things for small business owners to worry about, there’s no need to add the taxman to the list.

A robust financial system that keeps the tax authorities happy should be the foundation that underpins your business – allowing you to focus on the multitude of other issues that require your attention.

The specific requirements set out by your tax authority will differ by location but many of the basics remain the same wherever you are.

And most authorities are currently tightening the rules and clamping down on tax cheats and tax avoidance.

Nine of the most important general guidelines are detailed below: wherever you’re located, whatever your business size, and whatever industry you’re in, these will help you identify red flags in your tax setup:

1. Understand all the tax requirements – or find someone who does

Do you think your tax affairs are simple? They’re probably not. Ninety-nine percent of small business owners don’t fully understand tax legislation – so it’s important to seek specialist help.

The temptation a business owner is to try to look after everything yourself. With tax, this can be a false economy: not only can it take ages to get to grips with what you need to do; it’s likely that you’ll miss something important. And the taxman will be on your back!

2. File returns on time

The general rule is to file tax returns within twelve months of the end of your accounting period but this may vary with location.

Good planning in your business will ensure that you’re ready for the process; you know when it’s coming, have scheduled time to do it each year, and don’t end up scrambling around at the last minute to avoid penalties.

3. Keep consistent & accurate records

You should already understand the importance of accuracy and consistency: quite apart from generating the management reports to make good business decisions, the tax authorities love you for it too.

Being consistent and accurate will help you flag any changes that affect your tax liability and explain any changes that raise questions from the tax authorities.

If you have some bookkeeping experience, you may be able to manage this yourself with user-friendly cloud software like Xero and Quickbooks Online. Otherwise, it’s best to have a certified bookkeeper or accountant keep your accounting records up to date.

4. Keep the ‘evidence’ together

Keep the receipts and invoices for business expenses together. Most business owners know they should do this but it’s surprising how many find themselves scrambling around looking for receipts when the time comes to do tax returns.

And even when they do find the receipts, they don’t know what they relate to.

Keep it organised. All tax authorities want to know that there is sufficient documentation to justify business expenses. Receipts don’t have legs. Your own inefficient system is responsible for losing them or causing confusion about their origin.

One of the benefits of using a cloud computing app such as Xero is the ability to take a photo of a receipt with your smartphone to ‘scan in’ an expense receipt straight into Xero; or you can use specialist apps that integrate with Xero such as Receipt Bank or Expensify.

5. File business & personal expenditure separately

It’s easy to confuse business and personal expenditure. Unfortunately, it’s one of the quickest ways to get offside with the tax authorities.

By keeping them separate, you can see at a glance what you can deduct and what you can’t: that means two separate (probably electronic) filing systems. Don’t be tempted to think “I’ll sort them out when the time comes for my tax return”. You’ll forget or cause delays.

6. If you’re a cash-based business, take extra steps

For small business owners such as tradespeople, who often get paid in cash, take extra steps to keep things transparent. You can guarantee that you will be on the taxman’s radar at some point.

For income, keep additional records to back up bank deposit records, such as cash register printouts or manual records of daily sales that can be matched to the bank records.

One of the benefits of moving your accounting systems to the cloud, is the ability to do things faster and easier with paperless processes. For example, trades-based businesses can use apps like ServiceM8 to quote and invoice in the field and even take electronic payments on site.

If you’re thinking, “I prefer to be paid in cash,” the ‘cash economy’—where a business does not declare all its income in order to reduce profits and therefore tax—is not such a great idea. Your business will be more valuable when it comes time to sell it if you have always shown all your sales revenue ‘on the books’.

7. Create a clear policy for employee reimbursement

Tax auditors want to know that you’re following the regulations with regards to employee reimbursement for travel, mileage, personal expenses, etc. They also want to know that expenses are appropriately signed off within the business to indicate that the business accepts liability.

Document a clear policy that determines what employees can claim for and how they go about claiming it. Make sure that this is clearly communicated to all employees.

8. Plan for your tax bill

There’s no room for surprise tax bills on the path to success. Tax is generally predictable and consistent. This means that you can – and should – plan for it in advance.

Sit down with your tax professional, understand what’s coming and when, and create a fund that can be used to pay the bill when it arrives. Maybe lock away a set sum every month. That way there are no nasty surprises ahead.

9. Never avoid the letters

Just because your tax authority writes to you asking questions or requesting records, it doesn’t necessarily mean the worst. Never avoid or delay answering these questions, as they don’t go away.

Answer in a timely fashion – there will normally be an expected response date detailed on the letter. Don’t go beyond this.

Take some tax advice and answer the questions to the best of your abilities. Most tax issues can be solved relatively easily if they are dealt with before they spiral out of hand.

Don’t get caught out by non-compliance with tax or it can cost you and your business. Get the right tax advice from the start and follow the tips above to keep the taxman happy.

If you need any specialist tax advice for your business, contact one of our advisors to talk it through.

Business owners: 3 proven steps for setting achievable goals

Posted on by Carolina Jaramillo

A: “My goal is for my business to win more new clients.” 

B: “My goal is for my business to take on 12 new clients by June 30 next year.” 

Which of the above goals is more likely to be achieved?

If you chose B, you’d be right. It shows serious intent about achieving a goal by placing numbers and dates on it. If you chose A – well, hopefully by the end of this article you will have changed your mind.

So, what are the goals for your business in the next 30, 90, 365 days? And how can you go about setting goals that are more likely to be achieved?

With the turn of the year or during a slower period in business, it’s a good idea to take stock of where you are now, recalibrate, and set new goals for where you want to be.

But whether you actually achieve those goals will depend largely on whether you are doing three things that many business owners are not currently doing…

If you’re not following the three guidelines revealed below, your so-called ‘goals’ may simply be a collection of wishes.

The difference between wishes and goals

Non-specific goals that are not written down and cannot be broken down into definite actions are essentially wishes.

Wishes are fine – for children. They can be wild and wacky, unbound by logic. But they should occupy no space in the minds of business owners. It’s no use saying: 

“I wish my business could achieve a million-dollar turnover.” 

“I wish my business had more competent sales staff.” 

“I wish my business had fewer competitors.”

If you haven’t set proper goals, you are pinning your hopes on wishes. You can’t plan your business around them. You can’t commit to them.

When asked what their goals are, almost everyone will say “I want to be happy, healthy, and prosperous.” This is fine and sounds good on a New Year’s greeting card – but they are general wishes rather than actual goals.

Similarly, almost all businesses want to either increase revenue or reduce costs; or both. These are not goals either. They are just business realities.

Well-considered goals should be the basis of every business plan. They create the foundation of your work activities over the coming days, weeks, and months. They are what spur the necessary actions. They should shape your daily activities and provide the direction for where your business is heading.

You commit to making them happen and this commitment needs to be taken seriously.

Shape your goals correctly and all this is possible. By committing to doing the three things outlined below, you will start creating actionable, achievable goals that help your business to thrive… 

1. Create S.M.A.R.T. goals

There is a lot of information out there on goal setting. You can go and try to read it all or you can cut to the chase.

Make SMART goals: that’s not just a convenient or clever name. It’s a really simple acronym to remember and apply every time you create a goal.

It means the following:

  • SPECIFIC – your goal should be no longer than 15 words and be aimed at something very specific;
  • MEASURABLE – you must know when you’ve achieved your goal: that means you need to make it measurable by including numbers;
  • ACHIEVABLE – make sure that the goal can be achieved in the timeframe you set (see the final point);
  • REALISTIC – make sure you have the right tools and resources to complete the goal;
  • TIMED – include actual dates rather than a timespan. With a date, you are more likely to commit and work towards that specific day and take the action necessary.

Simply by focusing on the above with every goal you set, they will be easier to commit to and to achieve.

But there are two other guidelines you should follow to really create perfect goals…

2. Write each goal down

If you did a snap survey of the population and asked them what their written goals were, most would stare back blankly at you. Around one percent might be able to show you a set of written goals.

With business owners, they might pull out a business plan…but unless that includes a set of goals that are clearly defined, specific, measurable, achievable, realistic, and timed, they are also falling short.

Those who write down their goals have over an 80 percent higher success rate of achieving them than those who don’t.

In a much-referenced Harvard Business School study of MBA students in 1979, it was found that three percent of the class had both written goals and a plan. When they were resurveyed 10 years later, this three percent was making ten times more than the remaining 97 percent of the class!

The bottom line is that to be truly effective, goals must be written. Only then will you commit to the necessary actions. 

3. Focus on the activity – not the goal

If you’re a rugby union player lining up a conversion kick after a try, is it best to focus on the scoreboard or the goalposts?

Ultimately, the goal is to win the match by getting the highest amount of points on the scoreboard. However, if you focus on that (the end goal) you’ll miss the kick…and be less likely to achieve the end goal!

To achieve a goal, you need to focus your sights on the specific actions necessary to complete it. Only then will you kick the goals.

Now apply this to your own business: break each goal down until all that is left is the action required.

For instance, say it’s the end of December now. If your main goal is to generate 10 new sales by 30th March, what does that mean in terms of activity?

When you consider the end goal, that may seem tough; a real challenge.

But start breaking it down:

  • How many proposals do you have to write to get 10 sales? 40?
  • How many sales meetings do you need to have to generate 40 proposals: 80?
  • How many calls do you need to make to set up 80 meetings: 240?
  • How many business days are there between now and the target goal date: 80?
  • How many calls do you need to make each business day to arrange meetings: 3?

The goal that once seemed so far off (10 new sales) now seems far more achievable because you know the precise daily action required to accomplish it: three calls to prospects per day is not scary at all. And you know that by taking this activity, you will reach your target.

See how this works?

Remember – without following the three guidelines above, your so-called ‘goals’ may be no more than wishes.

By setting real goals you have positive, purposeful, reachable signposts for the future of your business; rather than simply being reactive, you are in control of your own direction and destiny.

This is important stuff! Follow the steps outlined and you can make a big difference to your business in a relatively short space of time – if you are prepared to commit to the actions.