Blog

Apr 14

Biking and COVID-19

Posted by Craig Weston at Tuesday, April 14, 2020

 

What a change.

6 weeks ago I was out with my 3 old scouting mates doing our annual 4 day run of mountain bike trails - this time we biked the Waikato trails - really good, challenging and much more interesting that I first expected.

The first day was easy - biking beside the gentle flow of the Waikato river - life was good.  Until day two - much different terrain - hilly, demanding, unusual, needed the team to stay focused, needed to watch out for each other.  What a contrast.

And now 6 weeks later here we are..... it's lockdown.

Most people are prohibited from usual activities.  Most businesses have ground to some kind of halt or a radically changed level of activity.  A bit like day two....it's hilly, demanding, unusual, we need to stay focused, and watch out for each other.

What do I as an accountant make of all this?

I am heavily influenced by the interactions I have had with my clients.  Many like me were initially stunned by the turn of events and wondered what this would mean.

As time has gone on good practical help has become available:

  • There has been lots of help out there from various industry groups, individuals and Government.  I have been particularly impressed by a group that I am a member of - the Franchise Association of New Zealand.  This represents 37,000 individual franchised business in New Zealand and accounts for $27.6 billion of turnover (11% of GDP).  The Association has run a series of webinars for members focusing on what local franchisors are doing to help their franchisees, with experts in law, accounting and banking giving good advice.  Good down to earth advice from people wanting to help people.  Love this.

  • As accountants we are part of a group of 400+ other accountants based in NZ, Australia and the UK.  This group is known as GAP. Good solid advice and help coming from this group too as we seek to help our clients get to grips with that they can do to make the most of this time and beyond.  Through this group we were able to circulate our Business Continuity Plan resource and a number of our clients have used this to help them plan out their futures.

  • Cash Flow - this is the key to staying in business.  We have been assisting clients with simple forecasts for the bank - predicting what their bank balances will be for the next 12-36 months.  This Service is registered with the Management Capability Development Voucher Fund.

There are still lots of unknowns out there but lots of help available.  Its Kiwis helping Kiwis.

Biking? - as I reflect on the above, life was relatively smooth and easy up to COVID-19, like the "gentle flow of the Waikato river" ..... and now it's hilly, tough, and we need each other.

So, I'm looking forward to my annual bike trip next year and looking back and thinking, yes we all did the best we could together and while there are still big challenges ahead.... for the most part we as a country are succeeding!

Craig


Mar 25

Business Continuity Plan

Posted by Craig Weston at Wednesday, March 25, 2020

The impacts of Covid-19 on health and business are evolving fast. Currently, we are prioritising helping our clients who have the greatest need.  So, if you need urgent help, please get in touch.

It is essential that every business has a plan for dealing with the fallout from this pandemic.

A plan will give you peace of mind and clarify for decision-making for the future of your business, and ensure you access Government support entitlements and maximise opportunities to preserve your cashflow and profitability.  In the worst-case scenario, we want to have certainty about whether your business can continue and plan around that.

We've created some practical content to help you build your Business Continuity Plan and have three ways we can help you using our content:

  1. We can set aside 4 hours to create your Business Continuity Plan online with you.
  2. You can draft the plan before meeting with us online for 90-minutes to finalise it.
  3. You can create the plan yourself.

Doing nothing here is simply not an option.  If you would like us to send you the Business Continuity Plan and the Guide for Developing Your Business Continuity Plan then please get in touch (09) 309 2561. This gives you the option to do yourself or we can work with you to ensure you have a comprehensive plan that will see you through.

In the meantime, please understand that our team work from their home offices so there is no disruption to the service we provide.  Our accounting software is cloud based and we are available via email and phone.  So, contact us if you need help.

Lastly, now is the time to prioritise your mental health.  As they say, put your own oxygen mask on before assisting others.  If the situation is affecting you, consider blocking out social media or things that may worsen anxiety, but whatever you do, please stay in touch with us - so that together we set a plan to help you in these difficult times.

Stay safe

Craig Weston and the Inspired Team


Mar 18

Yes, these are unprecedented times!

Posted by Craig Weston at Wednesday, March 18, 2020

Yes, these are unprecedented times!
I've spent part of yesterday afternoon and today talking to clients about how they are affected by Covid-19 and the Government assistance package announcement.
The Government have put out a comprehensive, well thought out plan with some clear guidelines. View here.
If you want to have a chat to me about this, please give me a call on (09) 969 7450 or drop me an email craig.weston@inspired.co.nz.
We are here to support your through this current situation.  We want to see you survive and thrive.
Keep talking, planning and being proactive.
Talk soon
Craig

Dec 17

We're predicting a happy and healthy holiday season

Posted by Craig Weston at Tuesday, December 17, 2019

Pour the sav,

Serve the pav,

And activate holiday mode!

The Inspired team would like to wish all our clients and colleagues a very Merry Christmas and a Happy New Year.

We've put together some light reading to help you reflect on 2019 and start thinking about your goals for the coming year.

Here's to 2020, we're forecasting an epic year!

Click here to download our Christmas eBook


Our office is closed from Friday the 20th of December and reopens on Monday the 13th of January 2020.



Sep 26

Craig and Nick talk best business advice for business owners

Posted by Craig Weston at Thursday, September 26, 2019

Craig Weston recently sat down with Nick Giles, Head of Hospitality New Zealand at Link Business Broking.  Really impressed with Nick and his team and what they do.  See our short video where we talk about the important things to keep in mind when looking to buy and run a business.


Video Craig and Nick


Apr 15

Be Prepared

Posted by Craig Weston at Monday, April 15, 2019


 

Every year we do our annual back-country bike ride I learn something new.

Back up the story - each year a group of 4 old-boy scouts including me reunite to do an NZ mountain bike ride for a week.  This year was in February and we did the Motu area (in behind Opotiki).

So what did I learn this time? Read on....

When you don't fall off your bike for a while you start to think you have it licked.  You seem to be pretty good at surmounting problem areas, tight turns, rocks on the tracks etc.  I've heard it said 'Pride commeth before a fall" - not sure about the pride in this instance but I sure had the fall!

One of our party was injured - fell down a slope and cut his leg.  Slowed him down.  I was delegated to ride on ahead and get the vehicle and bring it to the road head to pick up the team who would follow up slowly.

Somewhere down the track alone about 17K from the vehicle, I came off my bike - went over a river bank and landed in a dead tree perched above the rocks below.  Upside down, bike on top of me, foot caught in the bike, no one around.  What to do?

Rising panic!  But managed to extricate myself from the bike, climb down the dead tree, jump onto the rocks below and climb back up on the track then go down the tree and pull my bike back up.  I noted some cuts and bumps on the body, jumped on the bike and carried on.  Another few km down the track the bike gave up! Turns out the tree had damaged the hanger mechanism which the chain goes through.  Nothing left but to walk the rest of the way!

Did that - got the vehicle and returned to pick up the guys.  Big day out, totally stuffed!

What did I learn?

When you think you have it licked - do a reality check. Are you prepared for the unexpected? The old Boy Scout motto - "Be Prepared"

Don't go it alone - should have been two of us going and two left to follow slowly.

Relates to Biking as well as Business I reckon.  In business:

  • Plan well and have a back up plan - be prepared

  • Involve others - don't go it alone

Craig


Dec 17

As 2018 comes to an end

Posted by Craig Weston at Monday, December 17, 2018

It's almost the end of the calendar year - an opportunity to glance back at what the past year held, take a long breath over the break, and then look at what could be for 2019.

There is something about looking back that is positive - reviewing what went well and what went not so well.  It's an opportunity to learn from the past to give us wisdom for the future.

As we end this year, our wish for our clients and friends is that you will truly enjoy your Christmas break (whether that be short or long) and come back positively renewed for the new year ahead.



Mar 20

Alps to Ocean

Posted by Craig Weston at Tuesday, March 20, 2018

A2O (Alps to Ocean)

This stands for the bike/run trail that runs from Mt Cook to Oamaru. It's a (mainly easy) trail that winds along beside mountain lakes, rivers, open country, power stations, and small towns.  With 3 mates I biked the trail 2 weeks ago.  Took us a relaxed 6 days.

There is something about this area that easily draws me back.  The magnificent vistas easily calm the soul and put life in perspective.

A great place to think about the future.  I love to think about business and the next steps - its easy to do in this area - see the picture!

 

Oct 05

What's it like being virtual?

Posted by Craig Weston at Thursday, October 05, 2017

This is a question we get asked a lot!
You see, our accounting team of 6 people have been operating in a virtual space for the past 4 years.  This means we don't have a set office in a set location.  Each of our team works from their home office.

When we started this new way of working it was a bit scary but we had some great advice from the team at Xero and our IT advisors and this gave us confidence we could do it and do it well.

So 4 years on you may be interested in what we now know about it !

The Advantages:

We get to go to work without having to hit the Auckland traffic - the office is just down the hall!
We make use of modern technology - we use Skype for business a lot - we use it for team meetings and meetings with clients.
We use the Cloud for all our applications and file storage - no expensive and clunky servers any more.
For face to face client meetings - we get to stay out of the early morning and late afternoon traffic - it's great!
Our team have flexibility - if they have an unwell child at home from school, they can still do some work while looking after their child.

The Disadvantage:

Social interaction for the team - there are no conversations around the "water cooler" anymore - but we make up for this by booking in regular team meetings, on-line conversations, social events, dinners and conferences.

Summary:

We have proved to ourselves that it can work and that it works well.  So if you would like to know more about how this might work for you - give us a call - we would be happy to answer any questions.

 

Yvette Young - hard at work!

Aug 31

Inspired Team Conference

Posted by Craig Weston at Thursday, August 31, 2017

Omaha provided a truly Inspired location for our August team conference.  We brainstormed, discussed, collaborated and looked at the future of accounting.  We are excited about working with our clients on their business and helping them reach their goals.  The future is going to be fast paced, technology-focused, with real-time results, and we will always be there to support and inspire our clients.

We may look a small team in number but we quickly scale up as required using all the up to date ideas and resources that are now available.  We value our time together as we plan for the future, re-align our roadmap and take action to ensure we reach our goals and aspirations.

How do you plan and set your goals for the future? We often talk to our clients about the importance of having a business plan, a roadmap that sets out the future.  Give us a call if you want to discuss how to do this better (09) 969 7450.