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Better business tips

Mar 08, 2011

Tip # 1

Hold an annual office "clean-up" day. Ask your staff to pick a day in the year close to a holiday that isn't generally that productive and ask everyone to come in to work in sturdy clothes. Use the day for everyone to spring clean their work area and common work areas, organise paperwork and throw away old files and equipment. Combine the day with a great lunch and some drinks and everyone should have fun and benefit from the reduction in clutter for the rest of the year.

Tip # 2

If your workday is out of control, consider a period of "no phone" time. By setting aside at least a couple of hours each day where you don't take any calls, you'll be able to make progress on important tasks (such as returning yesterday's calls). The phone is a great tool but don't be a slave to modern communication technology.

Tip #3

Remind your staff never to pay accounts if they have not been provided with a tax invoice bearing an ABN. Never assume that your staff understand the importance of collecting valid invoices and receipts - or you could find yourself at the end of the financial period with a very large pile of non-claimable receipts. Keep in mind that bottom line profitability is often dramatically affected by the sum of many deceivingly small expenses.

Tip #4

Sometimes employees know more about what's happening in the company than you do. Give them a chance to have their say and always show you're interested. A suggestion box, regular staff meetings or brainstorming sessions, or even Friday afternoon drinks can give staff a chance to contribute ideas. Never underestimate the pool of skills that your employees can contribute to your bottom line success.

Tip #5

Don't neglect training. Try one of your local workplace training organisations for upgrading basic skills in your workplace. If you are a regional business requiring specialised training, have only a few employees and can't afford to send them to the city, invite your competitors to join with you and share the cost of bringing a professional trainer to your area to train all of your staff jointly. Working together will only improve the performance of all of your businesses. This must ultimately be of benefit to your industry.

Tip #6

A great way to benefit from your staff's wealth of expertise is to give a few of your staff members time off to prepare a 30 minute session on "How to ..... (do something in a particular area of your business)". Put aside a couple of hours during or after work and divide your staff into groups. Have each small group trained by a staff member and then rotate the groups. Everyone will benefit from a variety of short and sharp training sessions.

Tags: EmployersSmall Business

Author: Mr Taxman

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  • "A really interesting question Mel. Whilst negative gearing of a rental property is great for the higher earning spouse as there is a nice tax deduction which comes back to them, it comes to bite..."

    By: Mr Taxman at Mar 04, 2020 9:36PM

    Post: Marriage

  • "Your refund is your asset. It would be up to the courts to determine if you have to share your assets when you settle your split."

    By: Mr Taxman at Mar 04, 2020 9:28PM

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  • "Sorry to hear Emma. Generally speaking when it comes to completing your income tax return and including spouse details, a spouse includes another person who: * you were in a relationship with that..."

    By: Mr Taxman at Mar 04, 2020 9:22PM

    Post: Marriage

  • "Admittedly not too much depreciation with a 2011 car but there will still be a few $$$ there still. My motto is that you would pick up $20 if it was on the ground so why not claim it in your tax..."

    By: Mr Taxman at Mar 04, 2020 8:59PM

    Post: Claiming car expenses

  • "Geez 15 hours is a long shift. I certainly hope you get some breaks during the week. Generally, meals are considered a private expense. You can only claim a deduction for meals when you receive..."

    By: Mr Taxman at Mar 04, 2020 8:48PM

    Post: Claiming car expenses