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Staying Optimistic When It’s All Too Hard

Aug 05, 2020
Staying optimistic is easy when things are going well. But when business is hard, staying optimistic is hard too.
 
I’m a positive person by nature. Throw me a challenge and I’ll accept it with relish. Put a difficult situation in front of me and I’ll deal with it. But when business is tough, I’ve found it tough to stay positive.
 
Remember when you started out in business and you just hustled all day long to get business, make sales, sign up clients? Your sole focus was on sales and getting money in the bank account.
 
Whether you knew how much you needed to pay the bills or not (and I suspect not), what you did know was that you needed to sell, sell and sell.
 
That same thought process kicks in when business is tough. In 2009 after the Global Financial Crisis, my business income plummeted. I thought back to my early days and figured the solution was to sell, sell and sell.
 
But this time it was different. I was...
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Cash Flow Post JobKeeper support

Jul 21, 2020
What will happen to your business when JobKeeper payments cease?
 
Payments are due to continue to end of September. There may be a change in the eligibility requirements that requires a re-set of eligibility before then.
 
Then there is the question of whether it will continue beyond that date and whether that will be industry specific rather than all types of business.
 
No matter what the circumstances, the fact remains that JobKeeper won’t be here forever.
 
Making JobKeeper work for you
 
The key to maintaining your cash flow is making the JobKeeper payments work for you. Check how much of your fortnightly wages bill is being funded by JobKeeper. Then consider whether the JobKeeper payment is freeing up cash flow in your business. It may be only a small amount. If possible, try and put some funds aside to help with your cashflow post JobKeeper support.
 
One of the ways to get value from JobKeeper is to find ways to keep your...
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The Shifting Sands Under Our Feet

May 11, 2020
Do you feel like there are shifting sands in your business world right now? Does every day feel like a new game with a different set of rules.
 
Confusion
 
It’s normal to feel confused at this time. We’ve got deadlines that weren’t there before. We’ve got questions as to who, what, when and how. There are situations that just don’t fit in the list of eligibility or then again they might.
 
Even as a qualified professional who has taken the time to read the legislation, I’m finding it confusing. Some of the questions I’m asked, I just can’t provide an accurate answer for.
 
I’ve lodged BAS returns that should have the Cash Flow Boost Payment processed automatically against but haven’t. I’ve had to go back through the legislation again to check the eligibility requirements. Now to work out where to lodge the request to have it reviewed.
 
I’ve had a bookkeeper completely stuff...
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