Hope you all had a wonderful Christmas and celebrated hard for the New Year! Most importantly, I hope you all had a chance to recharge, reflect and establish some goals for your businesses in the new year. I’ve spent the past week and a half reflecting and then knuckling down on some big goals I really want to kick for 2020.

Goal setting is incredibly important to ensure that you’re accountable to yourself and your business. Don’t be afraid to set some big targets. As they say – shoot for the moon, even if you miss you’ll land on the stars.

I’d love to know what goals you’ve set for your business.

 

Bushfire Devastation

I won’t be the first nor will I be the last person to grace you with my opinion on the bushfires in Australia. However, politics and climate change aside, the people (and animals) that need our help the most are those that are caught up in the longest bushfire season on record.

While we can’t help fight fires, we can contribute through other means such as donations. However, it’s important that our philanthropy is going to the pockets of those who need it the most. Therefore, it’s imperative that you conduct your due diligence on where your funds are going to. I created a quick last-minute video addressing exactly that and how you can ensure you’re donating to the right organisations.

And being the accounting guy, don’t forget that any donations over $2 can also be tax-deductible!

 

Goal Setting

There seems to be a lot of bashing of New Year’s Resolutions this year for some reason. People think it’s an arbitrary time of the year that has no significance, so why bother with setting yourself some resolutions? While the timing is true, I believe there really isn’t any harm done in setting yourself some targets.

Whether it’s trying to get healthier, get a promotion or to start your own business – the fact that a new year can trigger these thoughts is never a bad thing. But, it’s important that focusing on setting lofty goals isn’t enough. Focusing on growth is even more important.

1. What skills do you need to grow?
2. What qualifications do you need to grow?
3. How do I grow my understanding?
4. What habits do I need to form?

James Clear and Jay Shetty have been talking about this for a very long time – only having a goal in and of itself isn’t enough. Having the growth plan to get there is vastly more important and the goals eventually will talk care of themselves.

Tell me. What goals have you set and what growth is necessary?

 

Choosing a Business Name

People tend to fall into two camps when it comes to choosing a business name – they either spend very little time or they spend way too much time on it.

But, what if you approached naming your business in a more practical way? How easy is it to tell someone the name of your business without repeating yourself? Is it easy to market? Is it available to register?

Here’s my video that explains exactly this.

 

Important Upcoming Dates

21 January 2020: December Monthly BAS Due
28 January 2020: December Quarter SG Due
03 February 2020: 6.30pm “Know Your Numbers Workshop” presented by Davie Mach
28 February 2020: December Quarter BAS Due

 

What’s Happening at Box AS

I’m excited to announce that I’ll be running a small business workshop called the “Knowing Your Numbers” at the South West Sydney Entrepreneurial Hub in Cabramatta on Monday 3 February 202. The talk will be intimate and will be dedicated to the importance of knowing your numbers as well as a discussion on the financial implications when you structure your business correctly or incorrectly. To find out more, join their Facebook group for more information on how you can attend. See you all there!

We’ve also recently put an emphasis on sharing more about what we get up to beyond the office. Follow our Instagram for our latest stories!

Until next time..


Kind Regards,
Davie Mach CA, B. Comm (Accg & Tax)
Emaildmach@boxas.com.au
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