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Turn Your Hobby into a Business – Final Words of Wisdom

Following on from our overview of how to turn your hobby into a business, let’s look in more depth at the seventh step: Final words of wisdom This just contains some final points to think about and remember. In no order of importance! Add a personal touch where...

Turn Your Hobby into a Business – the First 7 Steps

On your marks, get set …. GO! You’ve ditched the job (hopefully gotten a golden handshake or gardening leave), taken the plunge and are now your own boss. Congrats! Massive step, and one you need to be proud of. Are you ready though? Have you set up all the things...

Turn Your Hobby into a Business Step 6 – Know Your Fans

Following on from our overview of how to turn your hobby into a business, let’s look in more depth at the sixth step: We all need fans (aka customers) - do we know who they are? It’s all very well having a kick-ass business plan, structure, logo and website, not to...

Turn Your Hobby into a Business Step 5 – Know Your Numbers

Following on from our overview of how to turn your hobby into a business, let’s at the fifth step in more depth: Do you know your numbers? And no! Your 16-digit credit card number is NOT the number that you need to know backwards. You need to know numbers coming in...

Turn Your Hobby into a Business Step 4 – Branding

Following on from our overview of how to turn your hobby into a business, let’s look at that fourth step in more depth: Do you look like a professional business? By “professional business” - I mean the image that your business portrays to the public. This means a...

Turn Your Hobby into a Business Step 3 – Business Structure

Following on from our overview of how to turn your hobby into a business, let’s look at that third step in more depth: The million dollar question … How do you set up your business? Have you thought about the structure that you will operate your business from? There...

Turn Your Hobby into a Business Step 2 – Business Name

Following on from our overview of how to turn your hobby into a business, let’s look in more depth at the second step: the Business Name. Have you decided on a Business Name? The name of your business is the identity of the business, and every business needs one. It...

Turn Your Hobby into a Business Step – 1 Business Plan

Following on from our overview of how to turn your hobby into a business, let’s look in more depth at the first step: The Business Plan. So, you’ve decided to start your own business! Yippee! You’ve weighed the risks and decided this fits your flexible life goals,...

6 Questions To Ask Before You Turn Your Hobby into a Business

So your hobby is taking off faster than Pokemon Go! Okay, maybe not that fast – but you are battling to keep up with orders from Great Auntie Sheila and Uncle Bob, and are thinking about taking the plunge and turning your hobby into a business. So what is the...

Proudly South African in Australia – Down Under, Now What?

Moving countries is one of the toughest hardest decisions you will ever make. Leaving behind family, friends and everything that is familiar – I remember feeling so totally overwhelmed on my first grocery shopping experience. I was feeling quite chuffed that I found...

Every Thing You Need to Know About Cash Flow Levers

Cash flow is simple – money comes in, and money goes out.  A positive cash flow (which simply means that you have more cash coming into your business than going out) is critical for the longevity of your business.   “Poor cash flow management” is cited as the reason...

Reasons why you should use a Registered Tax Agent

TAX TIME: Should I DIY or should I engage a professional accountant and tax agent to get the job done? So, the million dollar question – do you do your own tax return, or do you engage the services of a professional? There are pros and cons to both options. As a...

When is closing your business the right choice?

According to the Australian Bureau of Statistics, more than 60 percent of small businesses cease operating within the first three years of starting. But what exactly is going wrong? The Australian Securities and Investments Commission released a report into corporate...

Top Tax Tips For EOFY 2017

We have well passed the three-quarter mark of the financial year, and we are racing down towards the finish line. Now is an opportune time to take this a extrapolate your numbers to date for the year, and consider your profit and tax position for the year.  Once you...

Contractors v Employees Legal Rights

I have hired a contractor. Yippee. I just pay their invoice – Right?  Wrong … Contracting is a well-known and often used alternative to the traditional employee / employer relationship.  A contractor can be engaged directly as a natural person, through a trust,...

Nomination for Aus Mumpreneur Award

We are delighted to be nominated for an award in the AusMumpreneur awards!! Mumpreneur is Australia’s #1 Community for mothers that are also entrepreneurs. These are mums that are creating freedom, flexibility, family time, success and the money for themselves and...

ATO audit hot spot – Tax Returns 2016

Did you know that the ATO is targeting work related expenses claimed at Item D5 on your tax return in 2016? The ATO will be comparing taxpayers in similar jobs in comparable industries and flagging those taxpayers that have higher then average work related expenses...

Evergreen Tax Tips – End of Financial Year Preparation

End of Financial Year Review – Some suggestions below to assist you get ready for the 30th June Review Profit & Loss to end April / May – Check with your accountant on how you are tracking for the financial year. This can assist in planning for shortfalls or increased...

TAX READY 2016? 5 simple tips and tricks to assist with the tax bill

Its the count down to FY 2016 tax year end. There is still time to reduce the taxes you pay. Five simple tips and tricks to assist with the tax bill Consider making deductible contributions to your superannuation – either additional personal deductible or employee...