Emma had the opportunity to be interviewed for the start-up show on Eagle Waves Radio.
Have a look at how Nudge Accounting is changing the way accounting is done for small business.
Emma had the opportunity to be interviewed for the start-up show on Eagle Waves Radio.
Have a look at how Nudge Accounting is changing the way accounting is done for small business.
I love sharing stories about how nudge has helped small businesses…
Recently we took on a client with a small business in the building industry. For the last 15 years his accounting was basically a shoebox which he took to his accountant at the end of each year when his tax return needed to be done.
He came to us because he wanted more control over his business numbers. Chatting to him, he had a bank overdraft that was killing him and cost overruns which were starting to make his business unprofitable. Whilst he has only been with us a few months, he now feels more confident with his business situation. By giving him his numbers each month, he has been able to take proactive steps to fix these problems now, not in a year’s time.
With nudge, there is no more waiting till the end of the year to understand your numbers. By providing small businesses with their numbers each and every month, Nudge empowers small business to make the most of the options available to them.
Get in touch to see where better decisions can take you and your small business.
We all know that big businesses have lots of resources available to them that a small business can only dream of. But something that we can learn from big business is to focus on what adds value to the customer and get experts in other fields to do the rest.
In big businesses, they are able to employ experts in a variety of fields to help them achieve the best outcomes for their business.
But we all know that all these costs can add up to a fair bit of money. However, there are a variety of tools and platforms available now that are significantly reducing these costs and can really help a small business look like a big business. Continue reading “I’m not an expert at that. Do I get someone else to do it?”
Strategy is a difficult thing for small business. We always believe that we have found the perfect niche in the market and that we will make the most of it. But sales don’t always come as quickly as you hope and you start to spread the service offering to get more customers in the door.
Are you guilty of this? Have you strayed from your niche? Have you become a bit of everything to everyone in your field to make the most of the potential sales on offer? Have you lost your way a little for sales?
One book I love is called “Strategy and the fat smoker”. In the words of the author David Maister, he knew that being fat and smoking was really bad for him but did nothing for 37 years until a vital organ failed. He had to change his ways. And fast. He describes strategy as deciding whose business you are going to turn away. What will bring a point of differentiation to your customers or help you establish your reputation.
In last month’s issue of Dynamic Business Magazine, I co-authored an article based on some research I did with UTS. We interviewed over 700 small businesses (size: 0-20 employees) – you can check out the article at http://ow.ly/dwISk.
One of our key findings was that almost half of small businesses do their own bookkeeping and accounting. Why? The main reason really came down to money and affordability.
Another interesting observation was that over 90 percent of small businesses used their end of year financial statement to work out how well their business performed.
These two findings really tie in with the Nudge story. By doing all the monthly bookkeeping, accounting and tax for small business at really affordable rates, we empower small business to make great decisions for their business now, not months or years in the future. And by doing everything, we can give the night back to small business. Read more about our story here.
A few days before launching Nudge, one of my friends sent me a Lego message from the other side of the world (she lives overseas) which said “Good luck Nudge”. It looked awesome and currently sits on our wall.
It got me thinking though… how much luck do you need in small business?
When we talk about luck, we commonly say; we were lucky to be in the right place at the right time, we’re lucky to meet someone who gave us business, we’re lucky to have these opportunities … people recognise that luck may play a part. But by how much?
I like sport so I have used an old sports analogy, ‘the harder you train, the luckier you get’. We all understand that sometimes you just get a lucky break. But how much of small business is about the lucky breaks and how much relates to some solid and well thought out planning or learning from mistakes? Did working on the sales pitch open up new doors, or being open about your business allow an introduction? or did going after a sale with a bit of hunger change a few things?
Drawing on some of my research into small business at UTS and some of the data about business failures, the feedback suggests that businesses that don’t plan, plan to fail. Over 50 percent of businesses don’t have any form of planning at all. That’s quite a lot. And to think that a huge number of small businesses fail in their first year, shows that a bit of planning can go a long way to becoming a luckier small business. If you’re interested in a small snapshot of some of planning and strategy that we worked on over these months at Nudge Accounting, you can find it here.
We have launched today and are delighted that you have come past our blog.
We’re planning to write this blog with the following people in mind:
We’ll cover a whole lot of interesting content. We will chat about issues we experience in running Nudge, as well as topics and info that small businesses will hopefully find useful. And, of course, we’ll also keep you update to date on accounting and tax news for small businesses.
Before we go, just a bit more about Nudge – Whilst we’ve officially just launched today, we have been working on our concept for over twelve months. In our pre-launch period during the last few months, we had a number of small businesses experience our service, and the feedback they have given us (some of which is on our homepage) to date has been fantastic! We’re the first Aussie integrated solution and are super excited to be bringing our service to the whole of Australia. Feel free to drop us an email, call or comment via this blog.
Emma, Mark and Aaron
With the rapid and astonishing expansion of technology, that pierces through the core of all professions and establishes its mark, we humans suggest that a “perfect word” is slowly approaching. As far as the accounting realm is concerned, technology has enriched it by providing impeccable accounting software and adroit methodologies for financial organisation. However, all these advancements are deemed inadequate when alternative companies tend to lay back and settle with traditional methods of accounting that are deemed for failure and disorganisation. A manual accountant is no longer a viable option as financial processes are slowed down and the percentage of a mistake is evidently high. New, technological advancements are finally here to engulf the financial realm, dispersing the need of manual and old fashioned accounting practices.
Our software and technological client interface is meticulous and seldom do alternative online accounting companies acquire this quality of infrastructure. Software such as Xero enables us to be in complete control and display all your financial statements within a user-friendly area, thus keeping an organised portfolio and a happy client! Nudge Accounting have embraced technology and with new, young and versatile online accountants, we are the future of the accounting realm. A digital era, where bank statements, tax lodgements and all financial related affairs are completed through the internet in an online area is what we are facing at the moment. Accounting firms have yet to realise the reality of the situation, by sticking to old and washed out methods of accounting. Nudge Accounting, the professionals, utilise the new tendencies and envision the future of accounting, online accounting!
Computers have changed the nature of accounting. They evolved accounting into a face-paced dynamic profession that requires adroit members and a core team. The profession has evolved to a point where accountants need to acquire further skills, such as interpreting data, giving good financial advice, suggesting accurate business decisions and overall assisting the client on a more influential level. Today’s accountant has adapted into a business consultant rather than a human calculator. Luca Pacioli (1494) was the first to analyze the systems of debits, credits, journals and ledgers. Pacioli’s writings are the basis of modern accounting. With that in mind and the upbringing of technology, Nudge Accounting propelled their excellence and with their dynamic team of online bookkeeping professionals transcended competition and have cemented themselves as the leading online bookkeepers in Australia.
Alleviate the perpetual stress normal bookkeeping procedures may bring out. Forget all the convoluted and painful paperwork situations that flourish failure! With Nudge Accounting you will receive the utmost professional online bookkeeping service with a structured reporting system that will have you in control of your finances. Contact Nudge Accounting, today!
The alluring manifestation of increasing hospitality services in today’s era is evident. The plethora of small bed and breakfast studios or immense multi-star hotel complexes are multiplying erratically. A resilient accounting team is always a preference since, fluctuating exchange rates, tight margins and increased regulation across the sector all have a significant impact on your business. Tourism tends to be a “hit-and-miss” industry. Exceptionally for small to medium enterprises. A wide range of accounting services are required to harmoniously blend in order to propel your hospitality business. Auditing, tax compliance, mergers & acquisitions, industry bench-marking analysis and many more…
Hospitality is by far one of the world’s most exciting and rewarding industries. Many a person tend to divert their career towards a path in hospitality. Lucrative yet delicate, the hospitality industry requires firm and versatile accounting knowledge! Nudge Accounting provide a solid accounting backbone to assist and organise the financial sectors of any tourism or hospitality business. Obtaining a formulated structure will help you improve the operating effectiveness of any restaurant, hotel, club, bar, or institutional facility you manage. Just as you learned in elementary school about the rule that says 1 + 1 always equals 2, accountants found in hospitality business have developed their own specialised rules and procedures that govern counting, recording, and summarizing financial transactions as well as analyzing and reporting them.
However, let’s not confuse managing and accounting. Accounting is a tool used by good managers! It is vital to remain organised and stable in the hospitality realm. One false maneuver could send you back to the drawing board! Whenever a guest purchases a beverage, a meal or even a souvenir from your hotel you must have acquired the suitable team to document and organise listings, audits and weekly reports on all expenses and many more. Nudge Accounting are capable of reinvigorating your hospitality business providing performance management reporting, annual tax preparation and lodgements, monthly KPI’s, strategic tax and managerial approaching to cover a small spectrum of our immaculate services!
Wrapping up, the importance of a structured and systemised accounting backbone is essential for the blossoming of a business in the hospitality region. Dealing with a numerous amount of clients in such a vigourous environment can be a daunting task. Nevertheless, Nudge Accounting is here to enlighten you on how to manage and arrange your business without missing a penny!
Evolution, progression and growth are inevitable factors in the majority of industries. Technological advancements and leaps into the realm of the unknown have become a trend in today’s era, speculating whether or not our progressive minds might just be a tad too much. Traditionally, regarding the accounting world, an individual would pack their suitcase fill it up with a year’s worth of paperwork and spill them in front of the accountant so they could action it over a longer period of time. However, our adept thinking in concordance with the flourishment and uprising of the internet, have lead us to new and versatile ways of accounting. New accounting. Fast accounting!
First and foremost, online accounting is engulfed and executed by online accounting software. Something that not only boosts the speed of accounting procedures, yet also provides a user-friendly environment for both the understanding of the client and the efficiency of the accountants. Following this, one thing we always need and seek with our accounting, security. Security is key when dealing with financial statements and matters. With an array of security certificates embedded in online accounting, one can never go wrong in choosing online accounting. Safer, faster and more accurate accounting!
Invoicing, payroll management and cash-flow can all be measured and grasped in numbers and ease with online accounting. These factors are critical as they provide revenue for your company and valuable income. In addition, productivity is also increased. Paperwork can be tedious, causing employees to get distracted and become less productive. Online accounting software, combined with online accounting techniques is a much more effective procedure than filling out paperwork because half the work is already done for you!
Nudge Accounting take pride in providing the utmost finest online accounting service across Australia, with a variety of small to medium businesses and accounting excellence, technology and Nudge go hand in hand, just like the glove fits the hand! Equipped with the necessary and up-to-date online accounting software, we propel our clients to prosperity and maintain an organised financial structure. Online accounting plays a pivotal role in today’s businesses and could turn out to be a detrimental factor for those who have elected against it.
Concluding, older and more traditional methods should be kept in the past! Immense paperwork and enormous amounts of time will and tend to lead to mistakes, costly mistakes! Newer and more adroit online accounting techniques are favorable, time-saving and accurate. Your choice…
At Nudge, we do it all for your small business: bookkeeping, accounting and tax. we can also help you with tax advice, company setups, personal tax, monthly performance summaries and specialist advice for small business owners. All work is completed by Aussie Accountants so you’ll never have to worry about compliance again.
“Nudge has been a fantastic company to work with. They’ve really gone above and beyond in providing an extremely high level of service and truly care about our business and its growth. Their team is very personable and supportive. By providing us financial transparency, Nudge has better equipped us to make informed business decisions.”
“The nudge service has been a massive cost and time saver for me. Having a separate bookkeeper to my accountant was causing double handling. I was spending far to much time on admin tasks. The automation, workflows, responsiveness and easy access to real time information has allowed me to focus on the growth aspects of the business rather than administration.”
“Nudge is like having my own personal CFO for my startup without the cost. The team go above and beyond to make sure they take the time to assess your numbers in order to help you strategise on getting your business to the next level”
“Nudge takes the hassle out of bookkeeping and accounting. Their service utilises cloud accounting to make things fast, painless and easily accessible, so I can spend less time on administrative tasks and more time on growing my business. I recommend them to any startup, as well as any other business who wants a thoroughly modern approach to accounting.”
“Nudge rescued us from a midsized accounting practice who, amongst other things, messed up our GST returns. As an ex Accountant, I have to say, to move to a cloud based solution (but very cost effective) had me feeling uneasy, but we decided to take “the risk”. The outcome (we’ve now done a full years cycle) was much better than expected. Accounting is now a simple process for us, no longer a distraction from running our business. Monthly reports, GST returns and our annual return are prompt, and any questions (there are very few) are answered quickly. We can’t give a strong enough recommendation for Nudge.”
“The biggest challenge that I have faced since starting my own business 3 years ago is finding a good accountant/bookkeeper who not only understands my business but can provide advice and solutions to help grow my business. Nudge takes care of all of my bookkeeping and financial reporting in a timely and professional manner. They never grow tired of answering my questions – no matter how silly they may sound! I would strongly recommend Nudge to any business owner.”
“Nudge have been awesome from the very start, from flawlessly migrating our accounting software mid way through a financial year, to giving us clarity on our numbers with tailored reports that are meaningful to our business. Their team has a genuine interest in seeing us succeed and are always available with any support that we need.”
With the uprising of technology and the plethora of competition in the majority of industries, business owners tend to seek help and assistance in managing and tailoring their business to suit the era’s needs and expectations. The process of accounting provides reports that bring key financial indicators together. Understanding financial concepts and gearing clients to financial success is what we exceed at here at Nudge Accounting. Our expertise lingers throughout the field of online accounting and engulfs all financial cases. With years of extensive experience and a dedication for our clients success, we endeavour to evolve our existing methodologies, in order to transform into Australia’s leading online financial firm.
A successful marriage between bookkeeping and accounting will contribute to the long-term financial success of any business. Nudge Accounting takes pride with their online bookkeeping and online accounting services that encompass all aspects and sectors of finance to ensure our clients receive the utmost finest service. Commitment is an attribute we stand for as client satisfaction is always key to evolution. Our reliability is second to none, as we ensure our clients are well organised and pursuit their financial tasks with accuracy and precision. Nudge Accounting propelled their excellence and with their dynamic team of online accounting professionals transcended competition and have cemented themselves as the leading online bookkeepers in Australia.
Our software and technological client interface is meticulous and seldom do alternative online accounting companies acquire this quality of infrastructure. This is what portrays our excellence and gears Nudge Accounting towards success. We ensure client satisfaction, by going through all the details and explaining financial situations to our clients. Engaging the client is what makes us stand out! Online accounting software, combined with online accounting techniques is a much more effective procedure than filling out paperwork because half the work is already done for you! Nudge Accounting take pride in providing the utmost finest online accounting service across Australia, with a variety of small to medium businesses and accounting excellence, technology and Nudge go hand in hand, just like the glove fits the hand!
Nudge provide exceptional accounting service and support whilst remaining price competitive. All of our packages provide the same great features for your small business accounting needs, which includes:
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