Tax and Profit tips from an unfiltered, opinionated accountant.
When you think of financial planning, you probably imagine ways to increase your wealth, such as making a budget, reviewing what’s coming in and going out, and creating a plan for how to make the most of your money.
You may think of investing in stocks or bonds, or of starting a retirement fund. Perhaps you think of saving for a major expense, like a home or education for your children.
And that all counts as financial planning. But lately, the concept of lifestyle planning is giving financial planning a run for its money.
Lifestyle planning is the idea of using your money to get the most enjoyment out of your life.
It means maybe foregoing the maximum financial return in exchange for something you value more. You choose to budget your money in a way that makes you truly happy. In other words…
If the idea seems scary to you, you’re not alone. Most of us were raised with the idea that you should always save for a rainy day, put away as much money as you can, and invest instead of spend.
But lifestyle planning doesn’t mean that you frivolously blow through your life savings.
It means taking the time to consider how you want to live the one life you get. And then, working off of that vision by creating a financial plan that makes those dreams come true.
Sit down and do some soul searching. Write down exactly what you want your life to look like.
Where do you want to live? Who do you want to live with, if anyone? What kind of car do you want to drive? Where do you want to go to school? What clothes do you want to wear? How do you want to eat? Do you want to travel? If so, how often?
Get as specific and as detailed as possible. Sketch out your perfect life in your mind.
Think about the things that are most important to you.
Once you’re satisfied with your vision, take stock of where you stand today.
How much money do you earn now? What’s your future earning potential? Are you spending money on things that aren’t actually important to you?
When you start matching up your reality with the way that you want to live your life, the gaps will become obvious. You will then be able to make adjustments. Maybe it’s not as important to drive a luxury car or any car at all. Maybe a change in career is necessary.
It’s okay if expensive items actually are more important to you than you initially thought. You can now plan for that. Or maybe it has become clear that you actually need more freedom of mobility in your career if travel is a priority.
Whatever it is that you come up with, you can start making a roadmap for how to get there.
And that’s how lifestyle planning affects your financial planning. You can’t reach your goals if you don’t give yourself the means to do it.
Once you know what you want, you can make a specific plan for how to make it a reality. When you’re ready, enlisting the help of a professional accountant will allow you to make the best financial decisions.
Interested to find out more?
Call us on 01617 985789
Or book a meeting at https://calendly.com/d/ckfd-tzk-zbb
Most companies need a website to conduct their business, but it’s also a critical piece of the puzzle in attracting amazing team members. Here are a few things you can do to make sure your website is always making a great impression, so you can attract great people to join your team.
These days, your website is the online face of your business. It can be even more important than your physical office. Potential employees are going to check it out first to decide if you’re a good fit for them. They will decide whether a job is worth applying for solely based on the website of the company who posted it.
Consider your social media presence as well, which is important to younger workers. Folks want to get an idea of the general feeling that your company evokes — and to see if your values align with theirs. It’s critical to make this first impression count.
Check that everything links up, works well, and looks good. If you impress them with your online presence, especially your website, they’ll take the next step.
It’s difficult to show off what you have to offer if you’re not clear on exactly who you’re trying to impress. Take some time to think about what skill set, attitude, and qualifications you desire. Once you know who you’re looking for, it will be easier to figure out what sort of perks or features they would find appealing. Make sure to display these on your website.
Put yourself in the shoes of a career-hunter. When you’re looking around online for a prolonged amount of time, companies often start to blur together. This is why it’s so important to make yourself stand out.
When you’re sifting through a big stack of resumes, you need something to catch your eye to call that person for an interview. By the same token, job-seekers are also looking for something that makes them stop and take a longer look.
If you offer great benefits, say so. If you have a great volunteer program, show it off. If your office celebrates the end of every work week with drinks, mention it. Things that make you unique will help you to stand out in the mind of someone great.
It’s critical that you display your true personality on your website. If you’re giving off the impression of a stuffy, old-fashioned office… chances are you will attract candidates that feel stuffy or old-fashioned. Likewise, if your presence is too casual, you might attract staff that are also just a little bit too casual.
Your About page is the best place to do this. If you “hire and fire” based on your company values, it’s a good idea to showcase what they are. This way you can find great people who share them.
People want to get an idea of what their day-to-day life would feel like if they worked for you. If you have a team, showcase them. Be sure to include a bio with more information and insight into each person and their role.
If you’re performing regular employee feedback surveys, see if you have any shining testimonials to showcase on your careers page. Talented people are smart. They’re going to find out what your team (past and present) has to say about you one way or another. Why not show them the great things they have to say right up front?
Great photos are non-negotiable on any website, but another way to stand out is by using video. It’s a memorable way to give more insight into what your company is like. You can use it to showcase your office space or locations, or you can use it to drive home your values by including testimonials from clients or staff. Feel free to get creative, but make sure to hire a professional to help you make the best impression.
Gone are the days of setting up a static website with your phone number and address. Today’s websites have to be beautiful, impressive, and dynamic. Fresh content is key. If you want to attract top talent, make sure your website is always ready to give a stellar first impression.
Interested to find out more?
Call us on 01617 985789
Or book a meeting at https://calendly.com/d/ckfd-tzk-zbb
Complaints are an unfortunate part of running a business, but they do happen. No matter how hard you work to please your clients, eventually someone will have something negative to say. However, with the right approach, you can turn complaints into a useful tool to strengthen your business.
Here are 6 tips to effectively responding to complaints:
The reason that a client complains is disappointment. It’s a symptom of a need that wasn’t met. They are not looking to fight with you. In fact, taking the time to complain signals that they wish to continue the relationship. Don’t muck it up by getting into a defensive, back and forth argument. Nobody wins in that scenario.
Your customer is actually giving you an opportunity to continue working together. It’s tough to keep cool when someone comes in hot with a complaint, but remember: feedback is a gift. It just may not feel like it in the moment.
The key here is to put explanations aside. Listen until the client has said everything on their mind. Don’t start thinking of how to respond while they are still speaking – they’ll see your eyes glaze over the moment you do, and that will make matters worse. If it’s a written complaint, read it over a few times to make sure you’re not inserting a tone or accusation that may not actually be there.
You want and need to understand the complaint. Without this information, you can’t move forward in any meaningful way. The moment for explanations and solutions will come. Take this time to really set everything else aside and just listen.
It’s important to give the information back to the customer to make sure you’re on the same page. A lot can get lost in translation, so to let them know that you hear them. Make sure that you understand the complaint by saying it back in your own words.
This lets both of you know that you hear and understand the problem. Once they acknowledge that you’ve got it right, you’ll be able to get to a solution.
Forget for a moment that you’re defending your business or firm. Try to imagine how it would feel to be the one making the complaint. You should be able to identify what need wasn’t met, or how you disappointed them.
When you put yourself in their shoes, it becomes clear what solution you would expect. You will also be able to see where you fell short, and how you can avoid doing that to others going forward.
After the work you’ve done to understand the problem, finding a solution will be the easiest part. You know what you’d expect as a customer, and you know what you’re able to offer as a business. Putting this information together will create a solution that makes both parties feel good.
Let them know sincerely that you want to make it right. This is your business after all, and reviews spread a lot faster and further when they’re negative. But, when a business goes out of their way to fix a problem, people let others know about it with enthusiasm.
This may be the most critical step, and it’s also often overlooked. After some time, follow up personally. This shows your client that you care about the ultimate outcome, and that you want to make sure that they’re doing well with the solution.
It doesn’t take long, but the effort goes a long way. They will remember the time and attention you put into making sure they were satisfied. They will also be likely to come back with more business and refer you to others.
Nobody likes to see a complaint come in at their business. We all work so hard to make sure we’re providing a valuable service that is truly helpful, and knowing that we let someone down can be hard. However, take it as an opportunity to become even better, and you’ll find that your business continues to grow.
Interested to find out more?
Call us on 01617 985789
Or book a meeting at https://calendly.com/d/ckfd-tzk-zbb
Most people need some help when it comes to financial planning and investing. That’s when we turn to financial advisors. With many options available, it’s important to ensure you choose a financial advisor that you can trust and feel comfortable with.
So what are some signs that a financial advisor is a good fit for you? Here are some things to look for when deciding who is best for you to work with.
Every client has their own unique needs, goals, and circumstances. But there are some commonalities among clients. Lawyers, doctors, teachers, and other professionals have different pension and retirement plans that affect how much they need to put away themselves. Their careers also alter the resources available to them.
The stage you’re at in your career affects your resources and needs as well. A younger person with a long investment horizon ahead of them may have a greater risk tolerance than someone a year or two away from retirement.
When looking for a financial advisor, find someone who helps clients in situations that are similar to yours. While they won’t be in an identical position, their needs will be similar enough that you can get an idea of how well that financial advisor can help you.
Just as your general practitioner will send you to a specialist to deal with specific healthcare concerns, a financial advisor will have a network of professionals they can refer you to for your financial needs. For example, they may have an estate lawyer who can help with drafting wills, an accountant for tax returns, and a bookkeeper for business dealings.
A strong financial advisor knows that they can’t take care of everything for you, and they will have cultivated a team of experts who can help you manage your finances.
Financial advisors know that investing is stressful, and novice investors can become overwhelmed by dips in the market. This leads to impulsive decisions with disastrous consequences. Your advisor is a coach, who keeps you on track when investment issues arise.
They can show you the bigger picture–how a dip in the market doesn’t mean it’s time to cash everything in–and how the long-term trends affect your investments. Because they’re there to help you, they can take the emotion out of your investments and bring it back to the information available to you, so you can make smart decisions.
As mentioned before, every client is different. Even where there are similarities, your unique circumstances mean your goals, resources, and needs are different from other clients. The best financial advisors take the time to get to know and understand their clients. They ask about risk tolerance, future goals, what those goals look like, and how comfortable you are asking questions.
They take the time to explain everything to you, so you feel confident and comfortable with the decisions being made. They make it clear that they’re working with your best interests in mind, based on your circumstances. And they are available to talk through your concerns.
It’s in your best interests to work with a financial advisor who works well with you. That’s how you get access to the best, most knowledgeable, and most relevant advice. Talk to people to find out who they go to for their financial advice. Look up reviews and testimonials and don’t be afraid to ask questions. That’s how you get to know the people who will be helping you.
Interested to find out more?
Call us on 01617 985789
Or book a meeting at https://calendly.com/d/ckfd-tzk-zbb
Meetings are often a source of contention in the workplace. Have too few meetings and people feel disconnected. Have too many meetings and people feel that their work is being interrupted. Meetings that are too short might not accomplish enough, while those that are too long lose people’s attention. With some planning and preparation, you can easily turn your meetings into a productive, pleasant experience. Your attendees will come away feeling good and looking forward to the next one.
Meetings take time out of everyone’s day so make sure everyone knows the point of getting together. That way, they aren’t left wondering what the purpose of the meeting is, and they’ll feel more prepared when everyone gets together. Defining the goal can also help you stay on track, meaning you’ll be more efficient at getting things done.
Choose participants with diverse perspectives
The purpose of a meeting is to get everyone on the same page. But it’s also an effective way for you to quickly learn things that you may not have considered about the project. Have a good mix of different voices at the table to get the most out of everyone’s time.
Before inviting a person to the meeting, ask if it’s absolutely necessary they attend. This isn’t to exclude people, it’s to protect their time. If their expertise or role doesn’t match the topics being discussed, don’t invite them. They’ll value meetings much more if they’re only included in sessions that their insights would be useful for.
This may seem basic, but it can’t be stressed enough. Lay out the timeline for your meeting, break down how long you’ll spend on each topic – and then stick to it! Keep people on track by allotting a certain amount of time for discussion and stepping in if the talk gets unfocused.
Send out the agenda to your attendees in a calendar invite. This lets everyone know how the meeting will go, and gives you a chance to see who will be there. It also gives them the opportunity to decline to attend if they see that their presence isn’t necessary based on the agenda.
One of the quickest ways you can lose attention is if someone doesn’t understand why they’re there. Make sure that everyone knows why they’re part of the meeting, and what their role is on the team.
This looks different across businesses, but everyone has to feel comfortable enough to contribute. Start the meeting with some ground rules. This helps everyone understand how and when to jump in, and ensures that you won’t have a few attendees dominating the conversation.
Never use a meeting to publicly blame or shame. Use positive reinforcement to showcase achievements. Don’t use the opportunity to highlight shortcomings.
Additionally, make sure the room is physically comfortable. Good lighting and airflow, as well as refreshments, go a long way to put people at ease.
Finally, ask for feedback. This shows your group that the meeting is a two-way street. Your goal is collaboration and team improvement.
We’ve all seen the memes. The last thing you want to hear as your attendees leave the meeting are whispers of “could’ve been an email” as they roll their eyes. If the purpose of your meeting is to download information, save everyone the trouble – just send an email!
A meeting is an opportunity to exchange ideas and information quickly among a group. It’s about the perspectives you’re bringing together and the importance of those perspectives being shared with everyone at the same time. If something could be shared in another manner, use that. Save meetings for topics and issues that are important.
With hybrid work here to stay, many attendees will be joining virtually. It’s a tricky balance, but make sure you’re engaging with both groups.
Additionally, don’t assume that because someone is quiet they have nothing to share. They might be hesitant to speak up or not want to interrupt anyone. Before you move on from a topic, address participants individually and ask if they have any thoughts they’d like to share or questions to ask.
Don’t let anybody leave questioning the point of the meeting or what they’re supposed to do next. Give everyone a sense of purpose and direction, and clear due dates for their tasks.
There’s a lot to consider when planning and running a meeting, but with a bit of preparation you can make it a worthwhile exercise that attendees truly value. It’s nice to get together face-to-face, especially if everyone feels included and like it was a good use of time. A chance for a coffee and a chat with colleagues doesn’t hurt either.
Interested to find out more?
Call us on 01617 985789
Or book a meeting at https://calendly.com/d/ckfd-tzk-zbb
Partner with us and discover how our tailored accounting solutions can maximize your profits and minimize your taxes in the property industry.
Take the first step towards Financial Freedom, today.
Copyright © 2023 Cloud Accountancy UK | All Rights Reserved | Privacy | Terms and Conditions
Developed by Connectable
