Enjoy the self-employed lifestyle

Whether you like to work hard, play hard, or just want to fit your business round your everyday life (or the other way round), being your own boss is not always what it's cracked up to be. We can help you ensure you get the best of both worlds
Being self-employed is great. You set your own salary and have the freedom to do whatever you want, whenever you want. Yeah, right! Running your own business can also be very stressful, it can be hard to find enough time in the day, juggling family and work responsibilities can drive you round the bend. This section of the site will help you regain your sense of control and find ways to enjoy what your business should be about - your lifestyle!

Make the most of being your own boss

Working from home - on your own - can be great, and is usually productive. But it can be isolating too. Robert Gerrish has some savvy advice on breaking out when you feel the need

Whether your business is based in a city or in remote countryside, chances are you\'ll occasionally suffer from isolation. The good news is, there are some simple steps you can take to avoid the lonesome blues.

1. Appoint a support team
You just can\'t do everything on your own; you\'ll accomplish a whole lot more with support. We\'re not talking here of employing people necessarily, rather appointing unofficial \'business buddies\'.

Schedule a regular time to converse... more

When you work from home - often in isolation - it can be hard to keep yourself motivated. Nicole Attias shares some ideas on keeping your competitive edge honed

It's Wednesday morning. You're half-way through the week. As you wake up, you ask yourself, "why am I struggling so much?" Struggling in your business, that is. You are about 2 years into your work. You've made many new connections, you've revised your promotional materials and accomplished some great goals. Yet this internal voice keeps asking, "what am I doing here?" You question whether you should get a job or "stick it out".

How did you reach this point? You didn't see it coming... more

Image on Bizbuzz
If you run all or part of your business from home, and you have children, you'll know what a juggle it can be to keep the business on track while the kids are home. We come to the rescue with some tips to help you stay sane (and profitable) during the school holidays.

Sharing your home with your work can be challenging during the school holidays. Here are some tips that can take away some stress for work-at-home parents.

The Challenge
One of the biggest reasons you chose to work from home, was to spend more time with your children. But somehow your best client always seems to need something urgently, just at school holiday time. Or perhaps it's just that school holidays come around faster than one expects, last longer, and the loss in income... more

Personal matters have a habit of impinging on the time and energy you put into your home business. Nicole Attias suggests putting some temporary measures in place to help you make it through the tough times

Just when you think things are flowing smoothly in your business, personal or family matters come up. Others are requesting your help and your time more than usual, you're having problems with your mate or family members and you feel burnt out because you've worked so hard to get to this great place in your business. You now find yourself trying to balance work and personal matters to the best of your ability. You "know" that the best of you feels "blocked" and is not coming out since these... more

After the intellectual investment in your profession or vocation the capital investment in your home is likely to be your next largest investment. The fact that your home is your office as well means that its maintenance is doubly important.

Background
Currently the media is featuring, very colourful articles on the rotting timber framing of houses and that house are in danger of collapsing. Now, we all know how accurate the media can be. Not only are these stories greatly exaggerating the problem that exist, in some cases they are completely wrong in their conclusions.

I would like firstly to give the history of the problem and what to look for when inspecting your home/office and then follow up with articles... more

tips for a thriving, valuable business
Whether you're actively grooming your business for sale in the near future, or just building value so you can cash it up one day, Malcolm Billington highlights ten things which you should be doing to make for an easier and more profitable exit.

If you are thinking of selling your business then following this advice will help you maximize your sale price. And even if you are not thinking of selling yet, it's worth building these aspects into your business right from the start.

1. Be prepared. Most businesses change hands as a result of unplanned events such as changing personal circumstances. You may even be approached to sell.

2. Protect IP and Trademarks.

3. Formalise customer and supply contracts if possible... more

Making money through your business is obviously important - but what do you do with it when you've got it? Alan Clarke explains why you should be saving some of it, and outlines some options.

“All I ask for is the chance to prove that money can’t make me happy”  - Spike Milligan  

And money is like oxygen, we have to have it, and saving is a key part.   Saving gives us a sense of achievement ,  more personal freedom, access to cash in emergencies, may allow us ease our workload, and maybe we can retire sooner .   As we get older  life insurance and  medical insurance  become very  expensive, we can drop off those costs and if needed use our savings instead. If not needed... more

Saying no
There's much emphasis today on saying yes - and rightly so. However there are times when it makes sense to say no - or at least not now. As a manager, it is essential you keep in mind the long term picture - although there are many examples of people later regretting saying no. But examples of people saying no when that turns out to be the right decision might get less publicity, but are far from rare.

As a small business manager, “yes” seems to be the pre-loaded response to just about every question. The problem is, you have to say “no” from time to time in order to keep your efforts focused on what make sense for time and money.

Plus, if you want to keep your sanity intact, you’ll need to learn to say no. There are three major categories that you must consider before singing out the most beautiful “yes” anyone has ever heard.

Time

Running a business requires top... more

Is your business simply a job you've given yourself, or is it a means to attain the lifestyle you desire?

"business needs a lifting purpose greater than the struggle of materialism" - Herbert Hoover

How long is it since you reviewed the reasons why you went into business? It is probable that you will say that you wanted to be your own boss, that you wanted the freedom to make choices that you never had in your employment, or perhaps you saw an opportunity to earn more money.

How has the experience been so far? Has the business served you in the way that you hoped, or are you... more

The IRD treats passive investors differently to investors who are "in business" through their investments. Here's the low-down ...

Section OB 1 of the Income Tax Act 1994 defines business to include \"any profession, trade, manufacture, or undertaking carried on for pecuniary profit\"

Whether a taxpayer is in the business of investing is dependent on that taxpayer’s fact situation. The leading \"business\" case in New Zealand is Grieve v CIR (1989). In that case the judge set out the factors relevant to the inquiry as to whether a taxpayer is in business:

the nature of the taxpayer’s activities, and... more

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