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Forum weekly update #87

JasonHill's avatar
JasonHill
Former Staff
10 years ago

Hi all,

 

We were thrilled to recently celebrate 60,000 registered members of the Community Forum. The community has been growing incredibly rapidly in recent months and we’re so pleased it has become an invaluable resource for making so many people’s business lives easier. Thank you all so much for your participation on the forum.

 

It’s been another incredibly busy week on the forum. We’ve welcomed another 580 new members and over 1630 posts have been submitted, including 700 from MYOB staff.

 

Let me extend an enormous thank you to those community members that have assisted others on the forum during this extremely busy period. An extra special thanks to our top contributors of the week - TonyLane, ronatbas, oyster, jenniek, David_Cree, CloudMindAcc, Leanne_Berry, gavin12345, Geoff_ and Mike_James. We really appreciate you sharing your knowledge, expertise and wisdom.

 

Extra special kudos and thanks to ronatbas, CloudMindAcc, David_Cree, oyster, Leanne_Berry, Nic-acc-addons, TonyLane and The_Doc who all had multiple posts marked as solutions.

 

This week MYOB CEO Tim Reed encouraged business owners to make the most of this important time as we get stuck into a new financial year in Australia. Tim says the beginning of a new financial year is the time to make things happen. “With a little professional business advice and advanced planning, you can take charge of your new-financial-year destiny,” he says.

 

Tim encourages all business to reflect on the last financial year and celebrate successes before setting some specific and inspiring goals. Here’s his top five tips for a happy new financial year:

 

1. Create a business plan. It can be just one page. Ensure it has measurable goals and it lays out a path to achieving those goals. If you have one already then revisit it with today’s and tomorrow’s market in mind.

 

2. Work closely with an accountant or financial advisor throughout the year. They can provide strategic business advice and planning, and assist with sales and growth forecasts, cash flow and more.

 

3. Streamline productivity and processes for a more efficient team and business. There are constantly new tools available to assist you with this. For example, a recent survey of MYOB clients who upgraded to our online accounting systems revealed they are saving around 10 hours per month compared to their desktop accounting systems. They also have the peace of mind that they’re always compliant with legislation changes.

 

4. Don’t try to be all things to all people. Are you the director, IT person, admin manager and salesperson in your business? Wearing multiple hats can be exhausting. Work out what you’re exclusively good at and where possible delegate other activities.

 

5. Conduct an audit of your suppliers and delivery channels – are they still the most appropriate/affordable; make sure you ask for better prices from your suppliers where possible.

 

Tim says establishing a good mix of clearly defined goals and strategic activities in the new financial year can help put you on a pathway towards success. Good luck and please feel free to share any of your experiences of running a business on our Mind your own business board.

 

Love your work,

 

Jason Hill

Community Manager 

Published 10 years ago
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