”However beautiful the strategy, you should occasionally look at the results.” -Winston Churchill
This quote definitely rings true in the planning and goal setting process – we must make sure our strategy is bringing the desired results or we need to re-evaluate it quickly.
As they say “A fool and his money are soon parted.”
Money and Me: If you save five dollars in a day, in 43 years you will have one million bucks. When the funds hit the J-curve, you may well and truly have more than that in the bank. So at least let’s help the next generation hit this goal. I wish I knew this 20 years ago, but then again it’s never too late to start! What we need to be careful about is thinking that we have disposable income that can be thrown away. It really is discretionary income and we should be looking at investing 10 per cent of our income each week.
“You are today what the plans of your past have brought you. You will be tomorrow where today’s plans will take you.”
Any small business owner leading up to the end of this financial year needs to seek professional advice.
Too often, small business owners make mistakes that could easily have been avoided if they had sought the right advice.
Here’s an example of the confusion around this tax time: last year a small business could write off deprecating assets costing less than $6500. “The rules are no longer clear under Abbott government – they plan to reduce the immediate write-off down to $1000; however it is not yet passed. Confused?
Small business owners work hard for their money and time is not regarded as a valued commodity it is part and parcel of the job. Where you can, I suggest you make use of the Chamber of Commerce educational forums around the Coast, small business courses and employ an excellent small business accountant. This way, money and you will not soon be parted!
Educate, Innovate and Succeed. Call your local training company today and see how you will benefit from further education.