Client Working as a freelance Personal Training and Group Fitness Instructor sounds like it could be liberating, interesting and a good-paying job. But the truth is, like any independent contractor, there are business issues that have to be considered, before you take your first class or train a client. Dean Turner was a full-time chef and fitness enthusiast before he decided to take a chance and work for himself in an industry he loved. Problem Dean knew he needed to learn how to run a small business and decided to start by talking to his Accountant. It was a given that [...]
Confused about what it means to be an Independent Contractor? Maybe you are working for a business but you want to start your own business. Maybe your employer has suggested that you could work at home, and they will change your status to that of an Independent Contractor. Before you make this change, you should know about some of the pros and cons of working independently. Benefits Independence. You may be able to work your own hours from whatever location you choose depending on the type of job. You should be able to negotiate pay rates and a payment schedule. [...]
Richard Branson says, "You should train your people well enough so that they can leave but then treat them well enough so they don't want to leave." Discover how you can find great people and keep them for the long term.
Client Sue and Richard are a newly married professional couple. They have no children and earn a very decent income as corporate lawyers. The mystery was they were living pay to pay. Truth be told, they were behind! They had acquired few assets other than a great car, substantial wardrobes and an eclectic wine collection. Problem Sue and Richard required assistance to manage their income and expenses so they could save to purchase a home within the new few years. Their immediate need was to understand where their funds were going. Solution Their Accountant listened and reviewed the limited financial [...]
It is very simple: To gain wealth, you must spend less than you earn. Being fiscally astute is not rocket science. Let’s review simple options to help you turn your spending habits around and achieve a positive personal cash flow. Settle bills by the due date unless there is an incentive to pay early. Your money is better placed to work for you in an interest-bearing account. Pay off high-interest rate debt to free up money. This is your priority task. Debt is not a given. Break the cycle and pay off your debts. Pay as much extra off the debt as [...]
Request an appointment today! How a personal trainer transformed her business and increased her income. Claire is a personal trainer with 20 years of industry experience. Her personal training business was a great success. There were many gyms competing in the area; but she had the clever idea, many years ago, to focus on a niche market of training pre- and post-natal women. Problem Twelve months ago, Claire decided to take the leap and grow her business. She opened a second location. Since that decision, Claire has been working long hours and, despite her hard work, her net [...]
Running a business without a business plan is like rock climbing blindfolded. Your chances of making it successfully to the top are slim. And the process will surely be a death-defying one. A business plan is a step-by-step guide to running your business and creating a product or service that will make it successful in the marketplace. You and your business plan must be flexible. Your plan will need to be adjusted periodically depending on opportunities in the marketplace, the current health of your business etc. Every business should have a plan. It may be formal or informal, it does [...]
In any business there are three core activities. It is important to understand three areas of business operations Marketing Sales Servicing It is important to analyze the effect of budgeted dollars, and how it affects your net income. Putting all of your effort into one of the three legs of the stool means money rolls off the table.
n optometry practice had been trading for over 20 years under a previous owner’s name as their business brand. The business offered a broad range of optometry services in line with most mainstream optometry practices. CHALLENGE The business did not stand out in the marketplace. With increased competition, the business was seeing sales decline and the need for discounts to compete within the market. This strategy was not sustainable. The business sought the advice of its Accountant to see if they could reposition the business and enable them to escape the price-cutting cycle. ACCOUNTANT’S ROLE The Accountant surveyed existing customers [...]