PETER'S

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SP Business

Edition #27

"END OF FINANCIAL YEAR"

This topic is hot to trot in the business world coming up to June 30th each year.

Last issue we found out “why is it so“. Great quote of Professor Julius Sumner Miller noted physicist 1910-1987 who had a television show entitled the same name exploring the power of physics.

That aside SP Business recently listened to some eminent advisers on not placing your main focus on what is happening in your business but “why” it is happening in your business.

This should give thought to why we do what we do in business, why we do it this way and maybe why we may need to change or tweak something in our business operations.

Technology can assist us in this and is a wonderful tool.

Locally last week we experienced some mobile phone issues and it was like being in the last century without that little device many of us are so fond of. Some even had to revert to pen and paper.

For many in Victoria, the recent storms put paid to the provision of energy forcing them to revert to the alternatives.

Generally, there is always a solution we just need to get our thought processes working.

So, the topic this month is the “why“of your business. Make it your new financial year solution to understand your “why”.

Take the time to visit Youtube and listen to a Ted Talk “Start With Why” by Simon Sinek by following the link:  https://www.youtube.com/watch?v=u4ZoJKF_VuA

 

                SP Business and the Sheridan Partner’s team wish you a happy and successful

                                                          “New Financial Year”.

 - Peter Nelson

SP Business

Edition #26

The end the of financial year is fast approaching.  It is a time of year when business owners can take time to assess their business performance for the past year.

We may wonder why the end of our financial year is the 30th June.

Well, prior to Federation in Australia, each colony (now being the six states) had their own parliament who were reported to by their individual Treasury offices. Parliamentarians usually took their annual breaks or holidays at the end of the calendar year being Christmas and summer weather.  

The treasury offices saw no sense in reporting to parliament on 31st December as most were away on leave.  They chose the colder months in the middle of the year to report as they knew Parliament would be sitting.

Upon Federation the Commonwealth followed this decision and hence the 30th June became Australia wide as the end of the financial year.

In conclusion, the world around us may have impacted on this year’s results but let’s reset and look forward to a more “normal” year ahead.

We know the saying “two things certain in life are taxes and death” As we approach June 30 it is time to review and evaluate past performance, prepare and put plans in place for the coming year.

In the motto of the boy scout movement “Be Prepared”

 - Peter Nelson

SP Business

Edition #25

What is a business plan?

In recent times the request by financiers for a business plan to support any application for money (loans) to assist with your business is becoming more common.

People who provide support for a business operation want to know more and more about your business operations.

More so they want to understand that you are thinking about the current and future operations of your business.

There is a saying “businesses don’t plan to fail they just fail to plan“

In our business it is common for our professional bodies to do as QA (quality assurance) check to see that we are keeping our records in order. As part of that review we were asked for our Risk assessment manual. This is to identify risks associated with our business for any unexpected event.

Covid-19 could be such an event and how do we deal with it.

Some businesses say we will deal with this as it comes. If we are not prepared there can be a fair bit of stress along with this.

As we move on it may be worthwhile having a bit of a think about your business. It is as simple as:

- Where are we now?

- Where do we want to go?

- How do we get there?

Enjoy your planning  

             

 - Peter Nelson

SP Business

Edition #24

How has your year been so far?

Still a few Covid restrictions but the good news is vaccines are finally rolling out.

It has been a tough 12 months, tougher for some than others but let’s look forward to more happier and promising times ahead.

We will always face bumps in the road in our business and personal lives and having business strategies in place can alleviate stress and uncertainty.

Need help with Strategies? – Meet with your advisor for discussion.

Wishing you every success in the future.

 - Peter Nelson

SP Business

Edition #23

Welcome to the New Year! It is a time of year when some have a think about what they are doing in life. Some make big decisions so just go with the flow but we can all improve. The resolutions are made - some kept, some not. 2020 was the year we maybe didn’t want but the fact is what happened has happened. We can only deal with the present and to some degree the future.

So what about YOU. Are you happy with YOU and what you are a doing?

Don’t spring to attention and make radical changes. Put some time aside to think about what you might be able to do to improve you and where you are in life.

You only get one of these (that’s life ) so you had better make the most of it .

Good luck and good fortune for 2021 and beyond .

 

“Today is the first day of the rest of your life“

 - Peter Nelson

SP Business

Edition #23

Welcome to the New Year! It is a time of year when some have a think about what they are doing in life. Some make big decisions so just go with the flow but we can all improve. The resolutions are made - some kept, some not. 2020 was the year we maybe didn’t want but the fact is what happened has happened. We can only deal with the present and to some degree the future.

So what about YOU. Are you happy with YOU and what you are a doing?

Don’t spring to attention and make radical changes. Put some time aside to think about what you might be able to do to improve you and where you are in life.

You only get one of these (that’s life ) so you had better make the most of it .

Good luck and good fortune for 2021 and beyond .

 

“Today is the first day of the rest of your life “

 - Peter Nelson

SP Business

Edition #22

What a great time of year the festive season is

It’s a time when we think many good things about life.

Many decisions are made at this time of year some good and some not so good.

So hopefully all our decisions will be of the good type.

Many reflect on the year that has been and what a year we have had.

Never did we think we would face such challenges.

For many there have been very tough times, let us spare a thought for the many people who have been severely affected by the scourge of COVID-19 and maybe think about how we can help in some small way with the recovery in life and business they face.

There is a saying “if it is to be it is up to me “but don’t be restrained from seeking help if you feel the need. 

So, as we pass this season of good will can we say as we move into 2021 do so with some vision of the road ahead.

Sometimes it is good to write things down, have some form of plan in your life, career, and in business.

Merry Christmas and look forward to 2021.  

 - Peter Nelson