Oct 28

What Are Your Customers Saying About You?

Social Media facebook, Social Media, Twitter

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In my recent blog on Business Networking Web 2.0 Style I posted a video from YouTube which made some eye opening claims about the prevalence of Social Media. It raises many issues which are very relevant to the way we do business today, and small business owners would be well advised to consider them.

Many people still dismiss social media as a passing fad. According to ComScore, over 70% of Australians visited a social networking site in June this year, up 29% from the previous year. Facebook visits grew from 3 million to 6 million and Twitter grew from 13,000 to 800,000 in the same period in Australia alone.

This kind of growth and reach is hard to ignore. Read More

Oct 23

The Finance Maze – Operating Leases

Finance chattel mortgage, finance maze, it equipment, operating lease, rental product, small business tax break

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Moving on from consumer finance to small business and corporate finance, we’ll look at the example of purchasing IT equipment. Rental or operating lease facilities are often ideal for these groups as they need to be up to date with technology to keep pace with their competitors.

Rental Products

The rental products available in the market allow the small business to lease (off balance sheet) IT equipment which will no doubt be out of date in 2 to 3 years time. This product allows the business “the use” of the current IT equipment and at the end of the finance term they just hand it back and upgrade to a more current product. A fixed monthly payment is calculated at the time of purchase. Read More

Oct 13

The Finance Maze – Cash vs Finance

Finance buying a car, car finance, cash vs finance, finance maze

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Buying a motor vehicle whether it is new or used can be a time consuming and frustrating adventure. In this article I will look at the everyday person buying a family car and some of the things to consider.

The act of purchasing a vehicle and funding it are two very separate parts of the process. The negotiating of a price or change over figure is one transaction and the funding a totally different transaction.

Once you have completed the buying of the vehicle it then comes down to how is the most effective way to pay for it. Most from the old school would say that if you can’t pay cash then don’t buy it and to some this is still the way they buy things. Read More

Oct 10

Business Networking Web 2.0 Style

Social Media business networking, facebook, Social Media, Twitter

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Nine years ago this month I launched my business on an unsuspecting public. Nobody had warned me at the time that in addition to being an accountant, I had to be social as well!

Much has been written recently on how to use [insert favourite social media application here] to win the hearts, minds and business of new and existing customers. Being a non-typical Generation Xer and an early adopter of computer / internet technologies, I’m loving the opportunities being opened up by Social Media.

When I first started my business I joined the local Chamber of Commerce, Rotary, breakfast referral groups and so on. Every so often I’d go to networking events which were not unlike what I imagine speed dating to be like. Get as many contacts and business cards as you can then move on to the next group. Read More

Oct 7

The Finance Maze – Consumers

Finance consumer finance, finance maze, no deposit, no interest, rental

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In today’s ever changing society the consumer, small business and corporate entities rely so heavily on finance as an everyday occurrence that many different products have become available. ‘The Finance Maze” series will lead you through a number of different options available in the market from the small through to the large lending products.

Consumer Finance

The consumer uses finance for anything from buying a TV, car or boat through to the home they live in and there are many different ways to procure these items, some more expensive than others. Let’s have a look at each market segment to see where the advantages are.

Example: purchase of a new Flat Screen TV for $3,000.

Mum and Dad go out to buy a new flat screen TV from a major retailer. Read More

Oct 3