3. How to Be Your Own Business Adviser – Customers

 

Where do your ‘best’ customers come from?

 

By ‘best’, I mean the people who pay you the most money, as opposed to the ones you like best.

 

Because once you know where they come from. You can find more of them.

 

Maybe it is referrals, possibly from just one person?

Perhaps a networking group, social media campaign or even adverts.

Then you can direct your efforts, more fruitfully, into getting more of those customers.

 

More excitingly, you can stop doing those things that don’t work.

 

My name is Jenny Bracelin and I am a business adviser and money coach.

Please follow me on Facebook or sign up to my email newsletter for tips on running your business simply and well.

 

 


What is Coaching and Why Does it Work?

What is Coaching and Why Does it Work?

 

Essentially, it is just a conversation, but it is the quality of that conversation which produces the results.

 

There are so many definitions and types of coaching, it can be very confusing, even for me as a coach.

You have ‘performance coaching’ in sports to ‘non directional coaching’ in therapy.
Everyone seems to have their own view about what it is and how you do it.

 

Personally, I tend to use ‘transformational coaching’. That means I combine both the head and the heart, to achieve the desired result.

 

The International Coaching Federation (ICF) have their own definition and it is not too ‘management speak’ so I am going to read it out.

 

“Partnering with clients, in a thought-provoking and creative process, that inspires them to maximise, personal and professional potential.”

 

It does sound good, doesn’t it.

 

So why does it work?

 

Well I think there are lots of reasons for it working.

The particular ones I want to talk about today are:

 

Often we are inside our own head and can’t see ourselves.

A coach provides that external perspective

 

The other thing, is when is the last time, that someone really deeply listened to what you are saying, with a view to helping you, as opposed to replying or putting their point of view across?

 

The one key skill that all coaches agree on is that listening, particularly deep listening, is the most important thing.

 

Other skills they tend to have are ‘reflecting back’ so you hear what you say fresh, or asking questions.

 

Innocent questions because they don’t know you, to get you to the core of something.

Or challenging questions to stimulate a response.

They also hold you accountable, supportive, bring their expertise to a coaching session and I thing the one thing you perhaps don’t think of, is coaches are generally your biggest fan club.

 

They want you to succeed more than anyone, because they often become coaches to make a difference.

 

Coaching is essentially an opportunity, a modern opportunity, to spend time really looking at you and your life, as the main focus, and that’s why it works.

 

Thank you very much for watching.

 

 


The UK Budget March 2017. What I need to know as a Self-Employed Woman

The UK Budget March 2017.

What do we need to know as Self-Employed Women?

That is what I am going to answer today.

 

 

So the first thing is, because the budget fell on International Women’s Day.

They chucked £10 million in our direction.

Which is a small amount in terms of budget but it is to celebrate the voting rights of women, it is a 100 years.  Also to help people get back into the workforce.  Good to start with a positive.

 

The second thing is the most urgent.

If you have premises and you pay business rates or going to being paying business rates, they have done all kinds of reliefs and transitional things and it is a bit complicated.

 

What I suggest you do is give it 2-3 days and let the journalists and the accountants work through the details.

 

Perhaps at the weekend or next week, have a look, as the chances are you won’t have to pay business rates, which is really good news.

 

The other side of that is they have decided that lots of businesses now don’t have premises and we run our businesses digitally, which I must admit I do.

They are going to find a way to tax us to make up the shortfall – so pros and cons there.

The one they are all talking about is the self-employed increase.

The National Insurance increase.  National Insurance is used to pay, in theory, the National Health, Pensions and Benefits.

When you are self-employed, you do get to use the National Health and in the last couple of years, you now get pensions but we still don’t get quite a lot of benefits and that is why we pay less National Insurance.

As that evens out, their view is, they want to even out the amount we pay.

 

Whether you are employed, self-employed or running a Limited Company, you will pay similar amounts of tax and National Insurance, that’s their plan.

 

From next April 2018, they are increasing the national insurance rate by 1%.

 

What that means is when you do your tax return, you pay 20% tax and 9% national insurance. 

Next year it will 10%, the year after it will be 11%.

 

If you are wanting to put up your prices, which is a question I have been asked a lot today.

By how much? Probably 1% is enough, so that is not too bad.

 

The other thing they have done is increase the amount we can earn before we pay tax.

We still have to do a tax return, if we earn under this amount but it was £11,000 and it has gone up from this April to £11,500.

You won’t start paying 40% tax until you reach £45,000 profit, up from £43,000 too.

Actually they have done it so it will feel like you have got more money but they will still be taking that extra 1% in national insurance.

 

That’s the thing everyone has been talking about so it is quite simple and there is nothing you need to do urgently.

 

If you are in the middle of putting your prices up you can add 1% to cover that over the next couple of years.

 

Anything else?  Yes, if you do run a Limited Company they have made that much less attractive so when you do your tax return, I would review that.

They have taken off tax relief on dividends if you know what that is.  If you don’t know what that is, talk to your accountant or you will see when you come to do your tax return.

There is nothing you need to do anything about this minute.

 

The only other thing for women is they have changed Child Tax Credits.  David Cameron did this a couple of years ago but it has only just come into effect this April.

From this April, if you have more than 2 children, they will only give you tax credits for the first 2 children.

So if you want to have 7 or 8 children, they are not going to give you tax credits for those, just the first 2.  That has come into force this April.

That’s it, it isn’t that complicated and there are some great resources on the internet if you want to find out anymore information.

I just wanted to give you the basics that are relevant to us, as self-employed women.

Thank you for watching.

 

 


Can’t Face your Figures? Write a Letter to Money Instead.

Can’t face your figures? Write a letter to money instead.

Yes, we are all human and there are times where we all think ‘ugh’ I can’t face doing my figures or my bookkeeping, or money just got on top of you.

So today what I wanted to do, was provide you with a short, quick tool to use, when you get into that place.

Yes, it is only being human and by doing writing instead of figures, hopefully, it accesses a different part of your brain.

Now many of you might have written a letter to money before but what I am suggesting today, is to just pick one topic to keep it short and sweet.

Why can’t I get on with my books?
Why do I always spend more than I earn?
Why do I … whatever it is that is your thing?

Just pick one topic and write a letter.

Now what you want to do is write it like you are writing to a dear friend.

A dear friend that is never going to read it so you can be as honest as you like!

It is a great place to have a good rant or get anything off your chest that you feel will help.

You can just take a sheet of paper and write it out, do it on your computer. Or if you want some headings to help you along, I have prepared some.

If you go to my website www.jennybracelin.co.uk/dearmoney you will find the headings and the explanations.

The headings for your Dear Money letter are:

I am doing…, so it is Dear Money and then say what you are doing.
I am feeling…and say what you are feeling.
Ask what can you do…what can you do?
Dealing with buts, and’s and I want more’s… they will come up so have that as a topic.
What can I do now? You don’t have to do it but ask the question.
End with a Thank You, that is always a good way to end.

So that is my ‘get yourself unstuck’ little tool so thank you very much for watching.

Next week we are back to practical stuff and it is a Live Q & A on Facebook at 12 noon GMT on Friday 3rd February 2017.

We are talking about now you have done your books, or now you have done your accounts, what now? You can just stick them in a drawer but we are going to provide you with some other useful suggestions.
Thank you for watching.