Planning for Success

The 4 Experts you need for a Vibrant Business in 2021

Did you know:  62% of small businesses don’t have any staff. Because of that, many decide to simply go solo. 

But you don’t have to do business alone. In fact, you’ll have more success if you don’t!

Even if you don’t have a very big team, it’s important that you have experts around you who can help guide you in the right direction, that is, what will best suit you, your lifestyle, your family – and the future you desire.

The experts you need to have (or upgrade to) are a top-notch accountant, a savvy bookkeeper, a marketing strategist, and a business coach.

These 4 people will serve you best wherever you’re at on your business journey.

From 2021, we can help you in these areas, including:

  1. Tax and Accounting
  2. Bookkeeping
  3. Business Mentoring
  4. Marketing and strategy
  5. Courses, workshops, and webinars

Tax and Accounting

Our new tax and accounting service now has capacity to take on new clients, we are here to help all business owners.

Being compliant in this area of your business can easily be overlooked if you don’t have a specialised accountant on your team – and that’s where we can step in.

We can help you build a system to keep your business running smoothly, stay compliant, ensure accuracy, and organise and maintain your financial records.

We specialise in working with sole traders, partnerships, trusts, and companies that require assistance with taxes and accounting.

Learn more

Bookkeeping

Bookkeeping is a must for a successful business. We let you do what you are good at in your business while we do the “stuff” you don’t like or don’t have time for.

Not only that, we keep you updated with real-time weekly reports so you can stay up-to-date. We can also work with your accountant – this will be even easier if that’s us!

Keeping in check with what’s going on in the background will help you make strategic business decisions to grow and develop a vibrant business you love.

Learn more

Business Mentoring

Business can become overwhelming – and that’s not the emotion you need to grow and scale your business. With our business mentoring packages you will have an instant accountability buddy and a business coach who has been where you are now.

Our job is to help you be clear on the steps required to grow your business in a way that suits you, your lifestyle, and how you want to grow – a point that’s often overlooked.

Our quarterly or monthly coaching programs can provide you with increased accountability and support so you can achieve the results you want from your business.

The outcomes include increased profitability and cash flow, customised reporting templates to measure actual performance against forecasts, and access to an expert sounding board to ensure you continue working toward your goals.

Learn more

Marketing and Strategy

Our latest addition to the Vibrant Business family is our new marketing arm. We have added this because business planning goes hand-in-hand with marketing solutions. We have been offering advice and help in this department for many years and in 2021 will make it an official service.

Together with our new Social Media Manager and the Vibrant Business team, we can help you with your marketing plan, social media plan, and the content that is needed to help your business grow.

As we are looking after your business plan, and understand where you want to go on your business journey, we can now also look after the marketing that goes with it and make sure it is aligned with the goals you set.

Learn more

Courses, workshops, and webinars

To help you on your business journey, we offer business planning webinars and workshops designed to help you understand where you are right now and what you need to do to move forward in the direction you desire.

Meanwhile, our 8-week Planning for Success course covers the 8 key areas, including specific strategies that all business owners need to cover to grow their business for success. These strategies include:

  1. Knowing your “why”
  2. Determining your vision and core values for the next 12 months
  3. Creating a budget, KPIs, and knowing your numbers
  4. Understanding your target market, ideal client, and value proposition
  5. Identifying your opportunities, vulnerabilities, and your most critical challenges
  6. Creating 12-month goals
  7. Creating a 90-day action plan
  8. Accountability

Learn more

Taking the next steps for your business success

Gaining clarity, direction and purpose will help your business grow – and the biggest success driver is having a qualified finance team on hand.

Vibrant Business will help take care of all of your financial needs. From taxes and accounting to bookkeeping, marketing, business coaching and mentoring, we can help you plan and structure your business to achieve your milestones.

Not sure where to start or what you need?

Book a call with us now to discuss your situation.

Planning for Success

Vibrant Business 2020 wins – The Year that was 2020!

What can I say about 2020? It was up, it was down, it was up, it was down!

Some business owners had an incredible year, their very best yet, while others had to make huge and unexpected changes and sacrifices. Some went out of business altogether.

And it was exhausting any way you went.

At Vibrant Business, we saw and felt it all with our clients and in our community too.

But one thing that got us through it was to be grateful for the opportunities we were being given – whether we thought of them as good or bad (or even dire!).

When I look back on the year, we were busy and overwhelmed a lot of the time; and when I was asked to think about the wins I’d had, initially, nothing came to mind except it had been a disastrous year and the team and I were ready for a break!

But then I thought deeper and I’d forgotten all the wonderful things the team and I had achieved. {It’s been a long 12 months!}

I would encourage you to dig deep too and think back to the start of the year and reflect on all the good you achieved.

You might be surprised, just like I was.

So, cheers to the year that was, may we NEVER go through that again, and if we do, know we are prepared with the lessons 2020 gave us.

I’d love to share the Vibrant Business team wins with you as a reminder to always be positive and focus on what you do have.

Vibrant Business – The Year that was 2020!

Business and team wins

  • Eloise joined the team in January starting two days a week and has now moved to five days a week!
  • Theo hit his two-year mark in December and starts in a new permanent role as an administration trainee in the new year.
  • We introduced our tax and accounting division in July.
  • We doubled our turnover.
  • We have advertised for a new marketing team member to start in the new year.
  • We are developing new service offerings for our clients to help them grow a beautiful and vibrant business.
  • We increased our awesome client base.
  • We developed an online course to help our clients plan for success!
  • We ran free Business Continuity webinars and provided resources during the height of COVID.
  • Learned a lot of new legislation in a very short time frame and got this out to our clients as soon as possible to help them survive through the COVID closures, downturns, and so on.

Community and volunteer work

Among all the turmoil and busyness in the business:

  • Brenda finished another year as president of Bayside Women in Business Inc (BWIB) increasing the membership from 30 to 80 during the year and despite COVID, we still held many successful networking events.
  • She took on the role of Publicity Media Officer for Manly-Lota RSL Sub-Branch assisting the branch to be “seen”.
  • She finished the year off by taking on another role as a Steering Committee Member of the “new” Wynnum Commerce to develop and grow the Wynnum Brand.
  • Plus, Brenda had the pleasure of supporting her local State MP, Joan Pease, and volunteered when she could with her election campaign, which saw her successfully re-elected.

I’d love to hear from you

I’d love to hear your wins, however big or small you think they are – they are an achievement.

Heck, just making it to December relatively unscathed is an achievement in 2020. You can share these privately by reply email or join me over in my Facebook group Planning for Success in Business here.

Planning for Success

Business forecasting 2021: Pour the sav, activate holiday mode, and work on your business!

Are you ready for your annual Christmas holiday and some business forecasting for 2021?

It’s time to relax, unwind, and spend time AWAY from your business – especially after what 2020 threw at us.

Apart from the sav and pav – how will you spend your Christmas holiday? And if you are not taking one, I recommend that you do. (Why a holiday will save your business)

You need to take a break after the occurrences of this year. We’ve had fires (people are still living in tents), floods (farmers are still suffering the repercussions of the floods at the start of the year), and who will ever forget the worldwide COVID pandemic, and the economy now, and the high unemployment rate.

You need to be done with 2020 and rid yourself of its juju and we must all step into the new year and 2021 with a renewed confidence and passion for your business, whatever it looks like for you right now, whether you have pivoted, boomed, or started again.

So let’s do that together.

Of course, you must rest and relax during the holiday season, but there is something else you can focus on too … getting ready for a stellar 2021.

And you do this by decompressing, engaging, and forecasting.

Decompress from the year that was:

It’s important to remember and reflect on the year that was and what you achieved, however big or small that is.

Take some time to:

  • Go over your monthly management reports.
  • Look at your 90-day plans and actions from this year. What did you achieve and what‘s still on the to-do-list?
  • Look at your KPIs and how you fared.
  • Understand your financial awareness and where you are right now.
  • Look at your core values and definitions.
  • Update your business plan.
  • Add some pre-work reminders for 2021.
  • Ask your bookkeeper, accountant, or finance team any questions you have.

This is your time to get perspective on the year that has been.

Engage with family and friends:

Now, put the laptop down. Step away from your business. And close the doors to 2020 (for good!). It’s time to enjoy some “me-time” and time with loved ones, family, and friends. It’s your time to do whatever you like now – but not business-related!

{I know you are excited, but I’ll get to working on your business for 2021 in the next point!}

Right now, do all things you enjoy. Here’s a simple plan of how you might like to best use your “days off”.

  • 1 hour of exercise – you can break this up with 30 minutes in the morning and 30 minutes in the afternoon if you like.
  • 2 litres of water – guzzle the H2O!
  • 3 cups of tea – or green juice or coffee! And, yes, wine beer, and cocktails are also permitted. It is the holidays after all.
  • 4 colours on your plate – if you’ve been meaning to start eating better, do it now!
  • 5 minutes of meditation – 5 minutes if all you need.
  • 6 songs that motivate you – dance like no one is watching!
  • 7 minutes of laughter – watch a funny video or try laughing yoga (yes, there is such a thing!)
  • 8 hours of sleep – get to bed early and let your body restore itself.
  • 9 pages of a book – an easy way to learn and grow. Nine pages are nothing!
  • 10 reasons to be grateful – start practicing gratitude. You’ll be reaping the rewards before you even start in 2021.

What else can you add to this list?

Forecasting your business for 2021:

Now it’s time to recalibrate and plan out 2021. Now the fun begins. It’s time to go nuts with your dreams and goals.

Grab a pen, paper, Post-it notes, highlighters, butcher’s paper, whatever you need and let’s get started and answer these questions.

1.         What were your business goals when you started?

2.         What three things would you change?

3.         What will you do differently in 2021?

If you need to, revisit your business plan, action plans, and KPIs and get these into motion. Call on your team, start delegating, and get organised for a better year in business.

Start living with more freedom:

It’s time for you to start living your freedoms because freedom is oxygen for the soul.

  • Time freedom – spending your time however you see fit – more time with family and friends, time to travel, and time for yourself.

“Time is a currency you can only spend once.” – Harmon Okinyo

  • –       Mind freedom – working on your mindset and not letting anything hold you back, especially your mind.
  • Financial freedom – making money and spending it on what makes you happy.

Make 2021 your best year in business yet!

>>> FREE DOWNLOAD: Need help making changes in your business for 2021? 

Business success is having freedom – time, mind, and money – but getting to that point takes time and money.

Making changes in business isn’t always easy, and chances are that you’ve already made many changes this year – and there will be more to come.

If you need a place to start, our 8-step framework for business success will help you with the key areas that need your attention.

And it’s the perfect place to start while forecasting for 2021.

This free guide discusses eight foundational points for building a successful business. You’ll discover why it’s essential to have a vision for your business, the importance of planning, the power of setting goals, and more. 

Get our 8-step framework for success here

Planning for Success

7 Reasons why you must take a break this Christmas

Holidays. Remember those? Think back to last Christmas when the world was coronavirus free – and so were you.

Now people are extremely concerned about their jobs, businesses, and livelihoods following the grip coronavirus has on our country, and, in fact, the world.

We are working harder than ever and stress levels are through the roof, according to many health professionals.

This year you’ve also been busier than ever doing activities you never contemplated you’d be doing, such as homeschooling, being in isolation, and working from home.

The situation in Australia is improving and we are getting back to our “normal” lives, including getting out and about more, booking holidays, and taking a real break, away from work and your business.

Even if you feel like you can’t do this right now, studies show even planning a holiday can help you to relax and reduce your stress.

Fact: Researchers from the Netherlands found that the simple act of planning for a holiday led to a large boost in happiness and that happiness lasted for eight weeks. (Source: Skyscanner)

If an extensive holiday is not an option for you at the moment, take a mini-break or staycation in your city for just a few days. Your health will thank you for it.

Here are 7 reasons why you must take a break this Christmas:

  • Reduce Stress

Stress and burnout can lead to physical illness. Before you get to that stage of ill health, take a break.

“We may experience feelings of inadequacy, simply due to feeling overwhelmed or uninspired by working too much – something that is preventable if breaks are taken.” That’s the word from Stephanie Lau, an educational and developmental psychologist.

  • Look after your Health

Working too hard without taking breaks throughout the year can have severe consequences to your health.

Your health may have taken a back seat this year as you tried to keep up with the demand or worked hard to secure more cash flow in your business, but it’s time to put yourself first.

  • Get Perspective and open yourself up to new Opportunities

When you are busy, opportunities can pass you by because you can’t see what is right in front of you, only what you have to get done.

Tunnel vision is real! This year has been very hard, there’s no denying that, so if you’d like a fresh start in 2021 start by taking a holiday and allow new opportunities to come into your life.

You never know what may be waiting for you.

  • Get more Creative and Productive

If you have been aching to work on your business instead of in it, but coronavirus has had other ideas for you, taking a break can help you be more creative and productive, so when it comes time to work on your business again, you are ready and can create new ideas and actions to move your business forward for a better 2021.

  • Plan out 2021

If you’ve been working hard this year chances are you are ready for a break and the thought of working on your business makes you cringe!

But once you have gone on a holiday – for a few days, a week, or a month – you will actually feel like working on your business as well.

This is where you can look at the 8 areas of business success and work on your business plan too.

The 8 key areas for business success include:

  1. Knowing your “why”
  2. Determining your vision and core values for the next 12 months
  3. Creating a budget, KPIs, and knowing your numbers
  4. Understanding your target market, ideal client, and value proposition
  5. Identifying your opportunities, vulnerabilities, and your most critical challenges
  6. Creating 12-month goals
  7. Creating a 90-day action plan
  8. Accountability
  • Live more Freely and be Happier

Get back that taste of freedom! By taking a holiday, it will renew your dreams of freedom and allow you to live more freely, doing all the things you love. Just being on holiday helps you be happier. Think of your last holiday, how happy and carefree were you?

  • Give Yourself more time with Loved Ones

A holiday can help improve your quality of life as you get to spend time with your loved ones, creating memories, laughing, and having fun today. Taking a break can also help you to understand what’s important to you.

Three rules to stick by when taking time off this Christmas:

  1. Don’t feel guilty – Many business owners may feel guilty about taking time out, especially if your business relies on you to make money. Remember, this is your time and you deserve it.
  1. Completely disconnect – Not taking a break from your business may also make you obsessive and therefore lead to feelings of anxiousness and overwhelm. Disconnect and detach are the keys here!
  1. Do what makes you happy – It’s your holiday so it’s important to do what makes you happy while you’re on it. If that means getting out in nature, shopping, eating, or having a sneaky glass of sav, do it.

You have earned this time, especially this year with everything that’s occurred. While you shouldn’t need a reason to take a break, if you do, just know that your good health depends on it.

After your holiday, plan your business for a Bumper 2021:

Making changes in business isn’t always easy, and chances are that you’ve already made many changes this year.

Sometimes, you don’t need to make changes, you just need to work on the core components of a business and get back to basics.

If you need a place to start, our 8-step framework for business success will help you with the key areas that need your attention.

You’ve had a holiday, now it’s time to plan your business for a bumper 2021.

This free guide discusses eight foundational points for building a successful business. You’ll discover why it’s essential to have a vision for your business, the importance of planning, the power of setting goals, and more. 

Get our 8-step framework for success here!

Planning for Success

Cashflow and Preparing for the Christmas Shutdown Period

Tips for keeping Cashflow steady during the Holiday Season.

Every business owner hopes to celebrate the season with their employees, but it’s hard to focus on the spirit of the holidays if your cashflow is tight. Small business owners often feel the strain of the season since people may be less likely to do business at this time of the year. If holiday season cashflow is a concern, keep these tips in mind:

●     Cut your costs – All business owners can benefit from regularly reviewing their expenses. Take time before the holiday period to see if there are any ways that you can cut back. Make adjustments and ensure that you have a financial cushion for added security.

●     Invoice in advance – Clients can be hard to get hold of once the holidays roll around, and their cashflow may tighten up as well. Ensure that you get paid early on by sending invoices in advance.

●     Speak with suppliers – If things are looking tight, have straightforward and honest conversations with your suppliers. Many vendors are willing to work with you if they know that you’re honest and reliable. Set up payment plans when possible.

●     Follow up on payments – if you have lingering invoices, take time before the holidays to collect payments. Make calls and send emails to anyone who is behind, and set up payment plans with customers if you need to collect outstanding balances.

With a bit of planning, the holiday season doesn’t have to be financially stressful. Lay the groundwork now for a successful end of the year so that you don’t have to worry about low cash flow.

Planning for Seasonal Dips in Income.

Seasonal dips in income can be highly challenging when you’re a small business. But there are proactive ways to predict, plan for and overcome these dips in revenue.

The key to dealing with seasonal dips is to know when they’re most likely to occur, and to have measures in place to spread your income and revenue pipeline over the course of the year.

Understanding Seasonality in your Sector.

If your business is seasonal such as pool supplies, or a ski gear specialist, you’ll be used to the peaks and troughs, but many ‘non-seasonal’ businesses experience times during the financial year where sales and revenue peak – and, on the flipside, where sales and revenue experience a pronounced dip.

When income is low at certain times of the year, it makes for challenging times.

So, what are the key ways to plan for this kind of seasonality?

  • Forecast your seasonality – it’s vital to know WHEN you’re most likely to experience any seasonal dips. Looking at benchmarking reports for your industry is one way to predict the seasonality in your niche or sector. But you can also use your own accounting data to great effect. Look back through your profit & loss reports and spot where the peaks and troughs have occurred over preceding years.
  • Charge a premium in peak time – one straightforward approach is to apply premium pricing for your products/services during the busy season. By increasing your pricing, you boost your overall revenue, giving you more working capital to see you through the leaner months when sales and income are at their lowest.
  • Offer additional peak-time services – offering added extras and other additional service lines during peak time is another way to maximise the season. In the months where customers are most engaged, look to upsell these premium services and offer more value. Satisfied clients will be more inclined to pay for added extras, giving you an increased revenue stream from the same number of customers.
  • Target other markets – exploring other related markets is another useful tactic. When you’re experiencing downtime, look for other ways to monetise your existing assets, products or services. For example, if you’re a hotel where sales peak in summertime, offer discounted conference space in the winter months to boost revenue.
  • Diversify your products/services – if one product/service has a known seasonal dip, look at adding an additional product or service to offset this downtime. For example, a a ski resort could promote bike-riding or hiking breaks during the warmer summer months to keep revenue constant. Likewise a pool maintenance firm could establish an outdoor fireplace business for the colder months.
  • Have a regional e-commerce strategy – If you’re dependent on a small local market, broadening your marketing and e-commerce strategies can help to attract a wider customer base – and bolster sales. Paid advertising through Facebook, LinkedIn or Twitter can easily target new geographical markets, bringing in new customers and giving your revenue a much-needed uplift during seasonal troughs.

Talk to us about planning for seasonality

If your business is struggling with seasonal dips, and the resulting impact on cashflow, come and talk to us. We’ll help you identify the timing of your seasonal downtime, and come up with a clear strategy for stabilizing your income across the year.

Get in touch to start beating those seasonal dips.