The New Year Blog

A very Happy New Year from all of us here at QAccounting! To kick-start 2012, this week’s blog is our Top Ten Tips for the new business year. These are a combination of common sense, good business practice, and our hot tips for the year ahead. So, in no particular order: –

10 tips for the new business year:

1. Set yourself some goals.

It’s a cliché, but if you don’t know where you’re going, how will you know how to get there? The new year is a great time to reflect and set yourself some new targets or objectives. Twitter & LinkedIn have been full of people talking about theirs over the past two weeks!

2. Diet time!

Get your business lean & mean for the year ahead – what fat can you cut out? What are you spending money on that you could get cheaper elsewhere?

3. Are you on Social Media?

If not, why not?!? It doesn’t have to be Facebook or twitter – what about LinkedIn? If you’re a contractor, then there is no better way to get your profile out there than a good LinkedIn presence.

4. But get on Twitter too!

You’ll be amazed what you can use it for. Think of it as the virtual pub – you need a plumber in Kemnay? Just get on twitter and ask. You’ll be blown away how quickly you find someone that will come recommended. Much better than just Googling, or using the Yellow Pages (does anyone still do that?).

5. Review your business relationships.

What’s working & what’s not? How can you further leverage the good ones, and what do you need to do to make the others work? Or do you need to change them?

6. What will your funding requirements be for the year ahead?

Are you planning to grow your business? If so, will you be able to finance it yourself, or will you need to raise money? Given the current banking climate, you may need to be creative!

7. Consider Crowdfunding

An innovative and different way to fund a business. Established crowdfunding models include Kickstarter in the US, and now Bloom VC here in Scotland. From recording artists to charities, crowdfunding opens up a whole new world of raising money.

8. How can you be disruptive in your industry?

The days of just doing what you’ve always done are over, unless you want to be history. Everywhere you look markets are being disrupted. What’s happening in yours? And can you be the catalyst?

9. Are you optimising your tax position?

Well, it’s what we do, so you’ve got to let me have this one! Consider getting a review of your company’s tax structure and talking to your accountant about how you can be more tax efficient.

10. Balance

Last, and by no means least, make sure you get some balance in your life. Life is short, as we see far too often, so make time to enjoy it!

If you want to learn more about our accounting services, please get in touch with a member of our friendly team today.