No more refund cheques from the ATO, by Karnig Momdjian

As an accounting practice, what does this mean to you in terms of impact on your processes? As you know, as of this tax year all refunds will be deposited directly into the client’s bank account. No more cheques, but you will still receive the Notice of Assessment (NOA) to verify against the estimate. You may not have given this much thought but it will prove to be a good test of your responsiveness and client service commitment. Imagine if the client gets his refund on a certain day and he doesn’t receive your confirmation and the Notice of Assessment (NOA) from you for weeks. Would he be frustrated? Would it give him reason to call complaining about your lack of action? What if you also had an arrangement to deduct your fees from his refund? What sort of time lag is there between you receiving the client’s refund and you remitting the balance to the client? Would you impress him or frustrate him? If all of the above are issues that you are grappling with, we can help you streamline your processes. We will apply the appropriate technologies to automate the processing of the NOA’s and more importantly create a secure client portal where all your document exchanges with the client can happen quickly and securely via the cloud. We will start by reviewing your current processes, to; identify bottlenecks and problem areas, design and implement the solution, and train the staff. A total solution. You may have some solutions in place but are they being using effectively to produce the productivity gains they promised? Again, our process audit will provide the answers. I look forward to working with you to overcome the processing challenges facing your practice. For more information about how the KONA Group can help your business adapt to the new tax procedures please contact Karnig Momdjian  at info@KONA.com.au or 1300 611 288.

Three Steps to Great Business Presentations

If you think a head full of knowledge and years of experience is enough to deliver a great business presentation – think again. It only gives you the credentials.

Successful presentations have their own unique skills and elements that need to be acquired and developed; like everything it takes practice.

Remember these three power steps…

1. Your role is to impart specific information to a specific audience and at a level they can understand, follow and remember. You are 100% familiar with your information but your listeners are hearing it for the first time.

When creating your presentation ask yourself… will they understand or know what I’m talking about? Approach your presentation from their side to get a feel for how it will land.

2. Build your talk around key points e.g. A report on project X may be organised around…

  • Issues and problems the audience face and relate to
  • Team personnel and cover skills, training, performance, needs  etc
  • Marketing and detail strengths, weaknesses, impact, brand awareness etc
  • Sales and include budget, costs, performing or non performing areas, profit etc
  • Outcomes and take always

3. Conclude with recommendations to clear the path for increased performance; or include your take home message in the form of required actions for the next step.

Incorporating the three power steps will maximise your effectiveness and strengthen your reputation as a skilled performer in your role.

For more information please contact KONA’s Public Speaking Training expert Timothy Kitching on 1300 611 288 or info@KONA.com.au

Start the Year in the Right Rhythm

We don’t often think about it, but life is based on natural, recurring rhythms: Days, years and even our own lives have predictable cycles that allow us to navigate through time. Our morning activities differ from our evening ones; we plan holidays around the seasons; and we focus our energy according to the stages of our careers. Even our bodies have a rhythm and the health of our bodies is often measured by how good the rhythm of our heart beat is. With the start of the new financial year we are reminded that organizations also need rhythm. Some of it will come from natural occurrences. However, leaders need to provide the rest of the music to give investors, employees, and customers a sense of consistency. From my experience, there are at least three types of rhythm that leaders need to create: Planning and Budgeting: First, leaders need to make sure that an effective planning and budgeting cycle is in place at an organization level. This is the activity that forces people to set strategies and goals and translate them into plans. Gauging the right timing for this cycle and how much detail it requires is almost always a challenge, and many companies stumble trying to get it right (or perfect). Reporting and Pivoting: People at all levels value rhythms for assessing progress and making improvements to achieve their goals. But this rhythm often breaks down due to lack of discipline, transparency, or the avoidance of tough discussions when things go off track. In fact, a common reason that companies struggle with execution is that the “reporting” includes too much improvisation, which means that problems are addressed too late or not at all. Human Resource Staffing and Development: At an organization-wide level, this means identifying needed skills and resources, closing gaps between current and future needs, moving people to appropriate roles, and rewarding or recognizing people for success. Within each work unit, this rhythm also includes periodic recalibration of unit structures, disciplined performance feedback, mentoring, coaching, and training. Again, while many organizations have yearly cycles for these activities, they are too-often viewed as one-time reporting exercises rather than part of an ongoing rhythm. And at the unit level, most managers do not create a predictable mini-rhythm for these activities, but instead squeeze them into the calendar as ad hoc tasks when a problem arises. Establishing the right rhythm for each of these streams is an important but extremely difficult part of the leadership job. Not only does each stream need to be done well, but the combination needs to form a symphony. This way, progress reviews and talent development coincide with planning cycles, both at a macro-level and within each work group. Otherwise managers feel constantly pulled from one set of rhythms to another, without an ability to connect the dots. It’s easy to wait for senior leaders to assemble these rhythms — but managers at every level also need to work at harmonization. One way to do so, particularly in the new financial year, is to create a “master calendar” for your team and yourself. Identify all of the key dates and requirements that are part of the corporate process. Then put in the recurring notes that you require for your own rhythm: one-on-ones with direct reports, diary meetings, project reviews, mentoring sessions, team off sites, etc. Once you begin to see how it all fits together, you can make adjustments, do forward planning, and alert your people far in advance about what is coming down the internal and external pipeline. Every organization has a certain kind of music; making it harmonious is up to you. For more information please contact KONA’s Sales Process Specialist Garret Norris on 1300 611 288 or info@KONA.com.au

No Pain, No Gain: Does this theory really work?

“No Pain, No Gain” has been yelled at us by personal trainers, motivational speakers and keynote speakers. Explained to us by life coaches, business trainers and wellness practitioners, sold to us by investment bankers and probably chanted by tomorrows future champions. In business it means investing now for rewards later. Putting time, effort or finances into something to get the future results.  On a personal level at work it might mean working harder (though not necessarily smarter).  You’ll have longer hours, no weekends and plenty of stress and no doubt achieve good results, earn your bonus and perhaps gain a promotion, but with a little bit of wisdom business coaching and efficiency you could have done the same thing and taken less toll on your stress levels and health. I like this motivational quote because I am an ultra-runner, but I’m not sure I entirely agree with it.  In training and fitness endeavours, it’s pushing yourself to the limits or the boundaries. That is what is needed to get fitter, stronger, better. Sometimes it does hurt to extend ourselves. To get fit requires improving your current self. It doesn’t happen by remaining idle, it doesn’t necessarily happen through pain either. “Even for a professional athlete,” said Carl Lewis in his diary One More Victory Lap, “I don’t buy into the theory of push, push, push, push until you drop. You need to be smarter than that or else you are not going to be around very long. …working out should be something to enjoy, not something that hurts.” It is when you teeter on the edge or tip over the no pain, no gain edge that problems start and the gains finish. The pain turns into a more permanent hurt. Ailments, injury or damage follow and that’s the end of becoming fitter, stronger and better. There is no denying it my chosen sport of ultra-running can be painful, big time.  Same goes for the shorter stuff. I went to the local running club last night and the coach gave us ten by 400 metre sprints. It was uncomfortable, my lungs were burning and my legs were hurting, but I know it was adding to my fitness and strengthening my body not hindering it. Being uncomfortable or experiencing a certain type of pain often comes from the body’s lethargy or the minds unwillingness, then it is worth the effort to keep pushing and the gains start. Other times it can be a warning sign of an injury, then you have to sensibly back off and change your gait, shoes, speed or training methods. You find a solution and do whatever it takes to keep moving without causing damage. We have to listen to our bodies in work, business and sport and learn what needs to be noticed and what needs to be ignored. For more information about how KONA can introduce a staff stress management training plan in your workforce please contact Glenn Dobson at info@KONA.com.au or 1300 611 288    

Negotiating: Take Your Ego Off The Table by Garret Norris

Negotiating is part of our everyday lives and conversations one way or the other! To complement the advice, “Put your concerns on the table,” I should add it is often best to Keep secret your deal-breaking or “walk away” Point (commonly referred to by one of the world’s largest negotiation company’s as the P!@## Off point). Some negotiators feel that there is no such thing as a “win, win”, I disagree with this particularly if you intend to have an ongoing relationship. I find that a win-win situation works out well. Avoiding “I” statements is a good tip. It is very important to be wise rather than smart, putting the interest of both parties at heart of the conversation. Think negotiating is all bluff and bluster? Think again. According to Rony Ross, founder and executive chairman of Panorama Software, a provider of business intelligence software to 1,600 customers in 30 countries, the secret to successful negotiating is to take the ego out of the equation. Keep The Discussion Results-Oriented You have to be very comfortable with yourself to deal with something without any ego, (Keep Passion for Business and Emotion for home). I recommend keeping the focus of the negotiation solely on results and what would make the best long-term deal for both parties. By taking the emphasis off the people involved and keeping it on the facts, the negotiation is less likely to become hostile. While it’s easy to take things personally—considering that most business negotiations hinge on assigning a value to you or your product—it’s important that you don’t confuse yourself with the issue. Be Wise, Not Smart Always show respect and understanding for the other party. Framing the negotiation around mutual interests rather than your interest alone helps both sides feel good about it (the law of reciprocity) . And if you’re respectful, it’s more likely the other side will reciprocate. It is far better to “be wise, not smart.” keep your eye trained on the end result. Put Your Concerns On The Table If in a negotiation you are the smaller party and feel threatened, you may worry that the other party may not follow through with the deal and instead develop its own product, which would likely put you out of business. There is nothing wrong with voicing your fears. Avoid “I” Statements “I’ve been in so many negotiations with people who start with ‘I want this. If you talk instead about how ‘we need to reach a solution,’ it’s a very different approach. It doesn’t play to your ego requirements, but it reaches a much better deal. You can protect yourself with “if you then I” statements, “if you give me better trading terms then I will offer more support with selling the product”, If you range my product then I will give you exclusivity for X period of time”. Body Language Oftentimes people in negotiations lean back in their chairs rather than forward, which put a physical distance between themselves and the other side. Try to communicate openness and interest by sitting on the edge of her chair, placing her elbows on the table and leaning into the conversation. It’s all about engagement. For more information about how Garret Norris, KONA Groups Negotiation Specialist can help your business please call 1300 611 288 or email info@kona.com.au

Mastering Business Presentations

By KONA Group’s Public Speaking Training expert Timothy Kitching 4 Tips to make your message and presentations more Meaningful, Clear & Concise On a small scale business presentations are a sharing of information to a variety of audiences – on a large scale they inform people of internal and industry happenings or motivate people to increased performance, therefore your message needs to be sharp,  accurate and relevant to your audience. Whether your next presentation is a report, proposal, sales and training or to the board, answering these questions will increase your success rate… 1. What do you want to achieve from your presentation? Do you want people to make changes, start a process, make a sale, communicate a vision, win the job, increase team spirit, accept your recommendations etc? The more you clarify your goal/objective the more accurately you can tailor your presentation. 2. Who are you talking to? What level of knowledge or experience do they have of your topic? Are they the board, managers, staff, the public? It’s crucial to know your audience and develop a message they will relate to and understand especially new concepts. 3. How long will you be speaking? You will always have more information than presentation time so only deliver information that supports your message and fits into the allocated time. Build your talk around key points and support your assertions with statistic & facts, anecdotes and personal experience etc. 4. Respect your audience and take time to develop a presentation that’s relevant, easy to follow and understand. They are investing time, effort and often dollars and deserve your best. Delivering a quality talk combines many skills and elements and it’s your reputation at stake – everyone will benefit when you apply the 4 steps with attention to detail. Remember it needs to be Meaningful, Clear & Concise. For more information on how you can make a real impact with your presentations please contact KONA’s Public Speaking Training expert Timothy Kitching on 1300 611 288 or info@KONA.com.au

Software deployment options: in-house or cloud?

By Karnig Momdjian CA May 2013 In my previous blog article, I wrote about your software options; custom software, customisable software, configurable software or off the shelf software. Now you need to decide where to deploy the software and the data files supporting the software. Depending on; your risk profile, confidentiality of data and the accessibility of the system; you have at least three options:
  • In-house deployment- where all required hardware, software and systems are on your site
  • Private cloud- all systems are off site in a remote facility , managed by a third party but you have a dedicated environment and you know where the facility is
  • Public cloud- you are fully dependent on the internet and have no control over the environment; it’s shared by all users, and often you don’t even know where it is located
In-house deployment Currently this is the most common approach, where you install the hardware on your premises and install the software and systems in-house. You are then responsible for:
  • Hardware upgrades
  • Operating system
  • Computer environment
  • Back-ups
  • Security
  • Network administration
  • Communication- remote access, internet
  • Power supply- managing power fluctuations, blackouts
Whilst this may be the most costly option, it may also be the preferred one for many for the peace of mind it gives them by having control over the environment. Private cloud In a private cloud environment, you are almost replicating the in-house option but it is located at a third party facility. You would have delegated the management responsibility to the facility provider. This option is ideal for clients who want control but don’t want the operational responsibility. The facilities manager will often manage your in-house terminals and communication requirements to access the central facility. You will have to manage the relationship with your buytramadolbest.com/ambien.html specific business software provider for the applications provided for you at the third party facility. Typically you will manage the in-house printers but the facilities manager will take care of:
  • Centralised hardware upgrades
  • Operating system upgrades
  • Back-ups
  • Security
  • Communication
You will typically pay a monthly fee to the facilities manager who would have factored in your portion of the equipment dedicated to you, the operating system and the general software but not your specific business application software. You will pay for your business application software. Public cloud In a public cloud deployment you are fully dependant on the internet to access the systems you need to use for your business. Given that the facility is shared by many, your monthly fee will most likely be much less than the private cloud option and considerably less than the in-house option. Many public cloud based application providers now offer the option to have your data stored locally whilst you access the software via the internet. These are described as hybrid systems. The advantage of public cloud deployment is scalability. You pay for what you use and you don’t need to worry about hardware and capacity planning. It’s just there for you to use. This option is ideal for users who are “relaxed” about the location of systems or believe that the provider has implemented adequate security system to protect their data and systems. Typical examples of public cloud applications include; eBay, Amazon, Google Apps, Microsoft Office 365 and more. Let’s not lose sight of the fact that your internet banking, share-trading and BPAY facilities are all cloud applications too… Till next time, happy computing! For more information of how the KONA Groups technology specialist can assist your business contact Karnig on 1300 611 288 or email info@kona.com.au

Get into the Mind of a Business Athlete

business athleteGet into the mind of an athlete and increase the performance of your team, by Timothy Kitching, Health and Fitness Specialist at the KONA Group. An athlete has a long-term plan for success that combines many elements and ensures they stay strong and flexible to cope with the demanding workload. Their success is forged on passion, self care, a positive focus and commitment. The result is exceptional performance. Contrast this with the business world that are overloaded with information, deadlines, minimal activity, boredom and for many ‘it’s a job mentality’. The result is stress and decreased performance and profit. Join us at this unique session and take away performance techniques from the sporting world…
  1. Learn the steps to exceptional performance.
  2. Put the HEALTH into Health & Safety with a healthy workforce implementation plan.
  3. Incorporate the Brain Learning Styles into your organisation to open creativity and strengthen morale.
  4. Learn three powerful questions to improve any situation.
In April 2013 Timothy combined his lifetime of sport & fitness to complete an extreme event; he went up forward and down backwards 2400 steps tossing a 6kg dumbbell overhead. He holds a Certificate IV in Fitness, has competed in many sports and created Dynamic Dumbbells – a unique strength & conditioning program. His clients range from 12 – 77 and include a 2 time World and Australian Surf Boat Rowing Champion. Training is his forte and he says ‘he can train a klutz to cartwheel’. Tighten the control of your results and perform like a business athlete with a workshop or presentation tailored to your organisation or business group. For more information please contact Timothy Kitching at the KONA Group on 1300 611 288 or email info@kona.com.au

KONA Group Networking Event and Seminar

KONA Group has joined forces with Business Advisors and Chartered Accountants Grange Business Partners to put on a Client Seminar and Networking event and we would like to invite you to attend on June 25th in St Leonards. That date is just after the Federal Budget and Grange Directors Diane Terzian and Duncan Barber will present for 20 minutes on 5 critical areas that all businesses MUST address to a) protect their assets from the tax man and creditors b) succession planning for the future and c) consider what will happen to your business if you are no longer around. KONA Group Managing Director Glenn Dobson will then present on How to Match Your Prospecting and Lead Generation to Your Clients Buying Journey. Following the two 20 minute presentations you will have the chance to network and meet new business contacts. The event will start at 6pm sharp until 8, and light refreshments will be provided. Please contact KONA Group on 1300 611 288 or by email at info@kona.com.au if you would like to attend as numbers are limited to 60 attendees.

Software – what are my options?

By Karnig Momdjian CA 30 April 2013 When it comes to business software selection, what are your options? Whether you are a start-up or you have outgrown your current systems, a time will come in your business cycle where you need to choose appropriate software to run your business. Your options will be influenced by the nature of your business and the flexibility of your business processes. Here are some examples: Custom developed software You have a clear vision as to what you expect from your software, you have defined your requirements, you have had a good look at what is available and nothing quite fits; you can consider custom developed software. This is usually the most expensive option in terms of cost and time to develop and deliver. However it is the best option in terms of developing a system that does what you want and fully reflects your business processes. This option requires commitment and dedication to the process of having the system developed. Major milestones in this process include:
  • Requirements gathering
  • Developing functional specifications
  • Creating use case scenarios
  • Defining user experience interfaces
  • Developing test data
  • Carrying out extensive system testing
  • Developing user/operations guides
  • Developing training material
  • Deploying the system
It is unlikely that you will be able to cope with all of this by yourself or with your internal resources that are focused on the day to day operations of your business. You will need external expert assistance in many of the stages of this process but at all times you will be involved to ensure the development is on track and continues to meet your requirements. Customisable software This option is used when you are fortunate enough to find software that is commercially available and where the developer is able and willing to develop a customised version to address specific requirements that are unique to your business. Cost of customisation aside, issues to be considered with this option include:
  • How will future developments of the base product be integrated into your version?
  • Who owns your version of the software?
  • Who will maintain the system?
  • What is the life expectancy of this customisation?
  • Is the system scalable to continue meeting your needs into the foreseeable future?
Similar to custom developed software, you may still require an external project manager to manage and progress the customisation and act as the go between your business and the software supplier. Configurable software This is a commonly used option with most software systems that are developed in a way that with the use of system options, terminology modification and user definable lists, the software can be configured to reflect your requirements without impacting the underlying system. This is the preferred option both in terms of cost and time to go live. This option, however, may require you to modify your processes to fit in with those dictated by the system. You may still require specialists who have a good understanding of the system who can assist with the configuration of the system to meet your needs Off the shelf software These are systems that you have no control over; including most open source applications. “What you see is what you get”. This is typical of most commonly used systems such as word processing, spreadsheet, presentation software etc. However these systems are typically so feature rich that the average user would often use a small % of the packaged feature. As you would expect, this is the least costly option and the quickest to implement. Having decided on the software for your business, the next question is how best to deploy it; cloud or in-house? This is the topic for the next post… To discuss how Karnig can help your business please call 1300 611 288 or email him at info@kona.com.au