The 10,000-hour rule is a popular ideology that when you put 10,000 hours practicing deliberately on an activity you can master it. It is a magical number introduced by K. Anders Ericsson, a psychologist (and later on, popularized by Malcolm Gladwell in his book entitled ‘Outliers’), the 10,000-hour rule argues that anyone can be an expert of various fields by allotting thousands of hours to become successful in it. Gladwell called successful individuals, whose achievements are out of the normal, as the “Outliers’. Read more
Any form of marketing can be expensive and even time-consuming. However, it doesn’t need to be that way – enter Referral Marketing. Referral Marketing is simply an advertising through the word of mouths of satisfied customers. These satisfied customers will give their seal of recommendation after availing a product/service to friends, family members, colleagues etc. Why and how does it work? Read more
Every business starts with a business idea. We all know it.
However, not every business idea out there gets properly executed and eventually transforms into a sustainable business. When not executed in the right manner even the best of business ideas is likely to be doomed to failure. Read more
It was not too long ago that contractors were being offered a seemingly endless number of schemes that allowed them to take home up to 90% of their income while simultaneously reducing their tax liabilities. Known as contractor loan schemes, they offered a way to funnel contractor income through multiple channels before being returned in the form of loans. Read more
The restaurant business is one of the most competitive around. You really have to be on your toes to stay ahead of the competition while at the same time trying to attract new people to sit in your tables. As such, marketing is critical. Effective marketing will bring new customers in the door. Then it is up to the staff to create a memorable experience that will keep those customers coming back.
There is always something to worry about for businesses when it comes to HMRC. Our tax scheme is so complicated that even the most experienced accountants are prone to having problems. A case in point is a recently settled squabble between HMRC and a company that makes chocolate bars. Who knew a chocolate bar could cause such consternation for the taxman?
The Xero accounting platform is one of the best in the business for a lot of reasons. At the top of the list is the Xero Dashboard, a single location to find all of the most important accounting functions you need quick access to. The Dashboard is a fast and efficient way to address accounting both in the office and in the field, and it is highly customisable for your convenience as well.
So, you really feel driven to launch your own start-up. You think you have this great idea you can turn into a successful business that could set you up for a lifetime of success. That’s great. The only question is whether you are willing to do whatever it takes to succeed. You see, the secrets to business success are not magic. Your success will depend more on your attitude than anything else you might encounter along the way.
Have you heard the old phrase, “there’s more than one way to skin a cat?” Whether you have or not, the principal certainly applies to marketing. There aren’t just one or two ways to effectively market. There are hundreds of ways to do it. You are limited only by your imagination and budget.
April 2019 is when the new Welsh rate of income tax (WRIT) kicks in for Welsh taxpayers. From 2019, the amount of income tax Welsh taxpayers pay will be partly determined by standard UK rates and partly by the National Assembly for Wales. If you own a business in Wales, the WRIT will definitely affect you. You need to start thinking about it now, in terms of both your accounting and the software you use for payroll.