Scrooge McKiwi

testWhy is it that so many celebrities claim to have been ugly teenagers? For some of us, those ugly teenage years are as good as it gets and it’s the same for many New Zealand businesses. It’s sad to see so many struggling in that ugly duckling stage despite being innovative, working excruciatingly hard and doing the best job.

What is it that holds them back from becoming business superstars?  We think it’s got a lot to do with Scrooge McKiwi syndrome.  Scrooge McKiwi is our pet name for those time stealing customers who’re so intently focused on saving every little cent that they fail to see the hidden costs of cost cutting.  You know the ones – they drive your prices down so low that you end up working for less than minumum wage or making a loss. What these penny pinchers aren’t smart enough to realise is that: Continue reading Scrooge McKiwi

Got what it takes to make mega profits?

true false blueSelf-help books promise business success but, with so many of them being the size of Battleships, we can’t help but think of Einstein’s quote “if you can’t say it simply, then you don’t understand it well enough“.  We’re certainly not professing to be mini-Einstein’s but having seen inside the guts of thousands of businesses some pretty clear traits have emerged and we’ve dared ourselves to share them with you in less than 200 words!  See how many can you tick off.  Continue reading Got what it takes to make mega profits?

Beating made-in-China wages

12796152As New Zealand propels itself into this mad global market, many of us are at risk of having our profits and wages slashed to compete with Made-In-China prices.

Personally, I’m not keen on New Zealand turning into a mini-China (living standard wise) but some Chartered Accountants (not us) are seizing this opportunity and having their work done more cheaply overseas rather than hire more expensive Kiwi staff. Continue reading Beating made-in-China wages

Speed dating business partners & investors

benchmarkingOkay, so admittedly our M.O.  [modus operandi] at Boutique Financial is about focusing on all that’s good in business but lately we’re seeing far too many people naively heading into deals with new business partners or investors.

A fair chunk of partnerships turn nasty and we reckon it’s got a lot to do with people dreamily thinking their new business partner will swoop in like an Eagle, turning life into a Big Wednesday advert, when in reality it can feel more like a Vulture picking at the bones of the business.   Continue reading Speed dating business partners & investors

Worklife balance nonsense

Exploding wealth mythsThink working harder, being better or cost cutting is all it takes to get rich?  Tell that to the millions of people working 80 hour weeks in the Mumbai slums.

And as for this worklife balance nonsense!  It might’ve worked for generations gone by but it now takes an impressive double income plus debt to have any kind of lifestyle in Auckland. Being one of the worlds most expensive cities, with the average house costing around 7 times the average income, having children is almost in the league of designer luxury for Generation X so how do we get ahead? Continue reading Worklife balance nonsense

Magic number for business growth

Accounting growth magic numberMum might’ve taught you the magic word but did she teach you the magic number? Chances are that you’re blind to your magic number if business is crazy busy and you’re operating in a haze of exhaustion without earning enough. Think of the magic number as finding your business sweet-spot so you won’t have to work as hard for better results.

All it takes is focussing on exactly how much of your sales you actually get to keep and enjoy. This is pure magic because it’s the play money that buys those guilt free shopping sprees or the blissful days chilling with friends and family without money worries lurking around too. Continue reading Magic number for business growth

Breakfast numbers

Boutique Financial breakfasting on your numbers blogStarting the day by spending just a few moments focussing on your key numbers can really help make big improvements to your business.  Arm yourself with your sales so far, how much cash you have and how much you’re owed and owe. You’ll easily find all this, cleverly summarised on the front page, if you’re using xero accounting software.  Start with something as simple as checking if the money coming in will cover money going out. Then drill down into Accounts Receivable to see if anyone needs a bit of a hurry up Continue reading Breakfast numbers

What’s a boutique accounting firm?

Boutique accounting firms are an exciting new development starting to emerge globally. Think of them as the Gordon Ramsey’s of the accounting world (but with a little less tantrum throwing). What makes them different is that they tend to limit their clients to those that align with their specialty. By vetting clients, much like a doorman at an exclusive hotel, you’re guaranteed a more high-end personal experience with a chartered accountant that really cares about your business.

You definitely won’t find a boutique accounting firm sending your work off to be done in India or throwing it to the bottom of the firm to be done by an accountant still wearing learner plates. 

BOUTIQUE ACCOUNTING FIRM FOUNDERS FROM THE BIG ACCOUNTING FIRMS

Because it’s a bit trendy to be a boutique firm right now, lots of pretty mediocre firms are masquerading Continue reading What’s a boutique accounting firm?