Articles from October 2016



Stay On The Right Side Of Obsessive! – Business Leadership

leadership

If you’ve started your own business, the chances are you’re a little bit obsessive. That’s part of what drives you – if you weren’t, you probably wouldn’t put yourself through it.

But there are elements of that obsessive drive that can have a negative effect on your business if you don’t keep them in check.

Yes, you have to work hard, longer hours than most – and mentally, you probably rarely switch off. This may not change, your business is your baby – but you can at least decide what areas to take your focus and which to sideline.

Work hard, know your market and your competition… but don’t get so obsessed with your competition that you forget what is special about what you do.

Our business advisors see this time and time again – capable business owners who are so busy monitoring their competitors that they forget to focus on what makes them special. Obsessively looking at your competitors (even if they seem more successful than you) can lead to you taking your eye off the ball. There’s a difference between knowing what they are doing and tracking their every move.

WANT TO FIND OUT MORE ABOUT MANAGING YOUR OBSESSIVE DRIVE?

If you think you’re working hard but not concentrating on the right things, why not get in touch via this link contact us for free!

#iom #business #accounting #pinnacleiom

 

50% OFF XERO CLOUD ACCOUNTING with PINNACLE THIS MONTH

cloud

Always wanted to get to grips with Cloud accounting?

With 1/2 price offers (£11 plus VAT a month) from Pinnacle, now’s your chance!

Give us a call today on 627334 and let’s get you started.

A few Xero facts!

We can train and support you and your team or just do it all for you!

Contact us for a freeXero silver cert partner chat!

#iom #business #accounting #xero #pinnacleiom

 

Pinnacle Tie’s up with Hospice for charity 

tie-up-for-hospice

Get your Hospice Christmas tie on for charity on Friday 9th December.  Only £2 each

#TieUpForHospiceIOM #iom #accountants #business

 

Accounting Software: What is cloud accounting? The Team at Pinnacle Can Help

cloud-accountingThere are relatively few technological advancements that have dramatically changed the role of the accountant. The advent of computers was one and cloud accounting is another. If used correctly, this new system empowers the user and creates an environment that allows your accountant to provide advice as and when you require it.

BUT WHAT IS CLOUD ACCOUNTING?

The premise of cloud accounting is to move your financials from a desktop computer and into the cloud. This means that your information is available for you to access 24/7 from anywhere in the world that has an internet connection. Using the same level of security measures as high street banks, your data is as secure as your online banking.

Initially this doesn’t sound like much of a change. How can moving where my data is stored have a significant impact on my business? The answer to that is “time”. Modern business is an ever-changing fluid system that requires quick decision making. Will our new venture make money? Can we afford to do it? Can we secure the financing in time to start it?

Moving your data into the cloud not only allows “you” to access it from anywhere, but also facilitates your advisors to do the same. This enables you to discuss your accounts from anywhere whilst both looking at the data simultaneously in real time. Your accountant can access your up-to-date financials, advising on whether a venture is affordable and creating a budget for its assessment. If you find you need initial financing then reports can be created for your investor and they can access those, also in real time.

AND THERE’S MORE
The advent of cloud accounting has brought with it a number of simple but powerful tools that help simplify and speed up the accounting process. Examples of these are:

– A direct bank feed that imports information from your bank
– The ability to invoice customers on the job and immediately get paid
– A feature that directly imports purchase invoices, either via photos or emails
– Automatic chasing of debt
– The means to compare your business to others in your industry or region

The user-friendly nature of these features and the ability to access information from anywhere enables you to tailor the service from your accountant, taking on or offloading specific tasks to find a fee that fits you.

SO HOW MUCH DOES THIS COST?
All this advancement sounds incredibly expensive, but a software subscription with the market leader can be around £20 per month. The removal of data entry by utilising the direct bank feed will easily cover this in time saved from processing.

The dynamic relationship with your accountant will also provide you with the assurance that your quarterly figures are accurate.

BE DEMANDING!
The crux of all this advancement is that you should be expecting a higher level of service from your accountant. Be demanding and ensure you receive a tailored package that fits your needs, and remember that this service should be flexible so that you can adopt or offload parts of the processing for a reduced or increased fee.

Most importantly, ensure that your accountant has a team in place to deal with cloud accounting and can provide the service that you require.

#business #iom #accountants #cloudaccounting

 

 

Know That Jabberwockies Are Worth More Than Apples!

marketingSales & MarketingChances are, if you are selling apples, they aren’t so delicious and unique that customers are going to pay £12 each for them. Apples are pretty common and you have to choose your pricing accordingly.

If you’ve got 10 Jabberwocky puppies, however, their value will be off the scale and you can dictate your price. After all, who else is selling Jabberwocky puppies? You only need to find 10 super rich people looking for rarities and you are set for life.

This might seem frivolous, but the point is a serious one.

Pricing your goods and services correctly is vital if your business is going to succeed – and there’s more to it that sticking your finger in the air and hoping for the best.

Our experienced business advisors see startups and small to medium sized businesses every day – and it’s surprising how often even established organisations get their pricing wrong.

It might be that you need to increase your prices – not decrease them. What’s the true value of what you offer? Or is ‘value pricing’ not applicable to your product or service?

If you don’t know the answer, you can book a free session with one of our expert team Contact us for a free chat!.

#business #iom #accountants

Pinnacle in the Pink for Manx Breast Cancer Support Group

Pinnacle spenimg_5331t the day in the Pink! for Manx Breast Cancer Support Group funds and awareness.

The boys embraced it!

@PinnacleIOM @ManxBreastCancerSupport

#Pinnacle IOM #ManxBreastCancer

Come to your senses. Come to the Isle of Man">Come to your senses. Come to the Isle of Man

 

Stand in the spotlight – Sales and Marketing">Stand in the spotlight – Sales and Marketing

Champions team

…And if you can’t find a spotlight, make your own.

It sounds obvious, but it is vital to be seen. It’s surprising how often visibility is neglected by business owners. They think that simply being brilliant, by being better than the competition will ensure success, rather than investing in sales and marketing.

Wrong. No matter how brilliant you are, if you aren’t standing in the light shouting about it, nobody will ever know. But your loud, brash, ‘not as good as you’ competitor? They’ve heard of them. They never stop hearing about them. So when they need to buy from someone, who are they going to go to? You, quietly being brilliant while nobody know about you, or the less talented but more vocal competitor?

Sales and marketing are fundamental to your success in the modern world. Whether your business is online or off, there is no substitute.

You need a website. You need a social media presence. You need to attend real life events and shout your successes from the rooftops.