Improve Your Business With A Thriving Network – Complimentary Webinar
In conjunction with Cameron Brown, Found of the CX Academy, Value Beyond is hosting a webinar on Thursday 17th September at 10am. On the webinar, you’ll discover…
- How to build a thriving network of quality strategic partnerships, raving fan customers and loyal, high performing team members
- The formula for turning your satisfied customers into raving fans that refer you business and rave about you online
- The 3 reasons why partners don’t refer their customers to you (and what to do about it)
- How to get your team to consistently deliver a remarkable customer experience that brings you more sales, referrals and profit every month
Keep an eye on your inbox over the next few days for more details!
Abundance Or Scarcity – Which Way Do You Think?
When it comes to all things business, investment and money, do you think in abundance or with scarcity?
A scarcity mindset is an attitude that there is a finite pool of money/resources and that the money and resources in that pool have to be share out. If someone gets a bigger slice of the money, then there is less for everyone else.
An abundance mentality is an attitude that there is plenty available for everybody, and if more is needed it can be created.
Which side of the fence you sit on when it comes to abundance or scarcity will make a big difference in your attitude towards the management of your money. A scarcity mindset will have you believe that what you have and what you earn is all that there is available to you, and therefore those scarce resources must be controlled so that no one else gets a greater share of it than you think they are entitled to. An abundance mindset, on the other hand, will believe that there is plenty available to everyone, and if you don’t have enough you just haven’t earned it yet.
Strangely, a scarcity mindset can actually stifle wealth creation and business growth, because the through of spending money to buy something – be it a purchase of property, shares, education or some other outlay – is seen as a cost that decreases the resources available.
Conversely, an abundance mindset will see that expenditure as an investment and opportunity for greater growth and returns, leading to more wealth and greater abundance.
So, if having a mindset of abundance can lead to improving your finances and opportunities available to you, then all you have to do is think in an abundant way and everything will improve dramatically, right?
Unfortunately it is not that simple! Just thinking is not enough. You need to take action that is consistent with that way of thinking in order to actually achieve any meaningful results.
You know that you should invest into shares, property, superannuation, and pay down debt to create abundance, but do you keep your money in a term deposit earning 2%?
You know you should invest in some marketing, advertising or invest your time into some initiatives to grow and improve your business, but too many other things are more urgent and you’re “too busy” to make it happen?
Are you actually acting consistently with your knowledge of what it takes to improve your circumstances and living out that abundance mindset? Take your knowledge, and put it into action today.
Don’t know where to start?
Talk to us at Value Beyond to see how we can assist you to take the right steps towards your success.
ATO To Data Match Payments To Merchants
The ATO will be requesting and collecting data relating to credit and debit card payments to merchants for the periods from 1 July 2014 to 30 June 2015.
The data requested will include information that enables the ATO to match some 900,000 merchant accounts to taxpayers, including the number and value of transactions processed for each merchant account. This data will then be data matched to ATO records to identify possible non-compliance with tax laws.
What this action highlights is that the ATO is going to greater lengths to data match information relating to income of taxpayers in an effort to ensure that the right amount of income is reported to the ATO. As a taxpayer, this reinforces the need to keep accurate records to ensure that all income is reported, and more particularly that all deductions are captured to be able to be offset against the income earned.
Without good record keeping, if the ATO does detect what they consider to be anomalies between their records and tax returns lodged, then trying to fight that argument will be all the more difficult.
If you run a business and are having trouble keeping your affairs and records in order, contact Value Beyond to discuss some of the options that are available.
Record keeping is useful not only for preparing tax returns, but also allows for better and more timely insights into your business which can allow you opportunities for growth and profit improvement that you might not otherwise have discovered.