Customer Discounting in your trade business is a quick race to the Bottom

Some tradies will start customer discounting to land enough renovation or trade jobs to just survive in the current building market downward trend or to keep their sales pipeline busy. So right they have work, they will survive?

WRONG – don’t do customer discounting!

Right about the “just survive” bit because survival is all you derive when you discount.

Discounting really is a race to the Bottom. The bottom line and an empty bank account is what hits you with this stragey!

Geoff Gartly has been looking after small business trade clients for many years. He has seen what works and what doesn’t. We know that discounting is NOT a recommended business strategy.

Profit can be tight sometimes when you are quoting but don’t discount to get the job!

We got your back – our tips on how not to dig a hole with customer discounting!

So here are a few tips to help you quit discounting in your trade business.

Decide that you can’t afford to discount

Unless you have heaps of spare $$$ in the bank you can draw on to tide you over several years make the decision that you cannot afford to customer discount anymore.
It’s a bad habit to get into at the best of times. But, if you do it for too long, it can become a hard habit to break. Sure, you may need to adjust your prices to meet market conditions, but that is quite different from getting into a discount war against another builder or tradie. Do that, and you both lose?

We help our tradies get the pricing right so that the hourly rate allows for GP, admin , mistakes and anything else that can impact.

Re-evaluate your service.

Make a (long) list of all the things you provide for your customers and make customer discounting not one of them. List things that are not in a typical estimate. If you are a good builder or tradie, you actually provide your client with many things that they don’t pay for. So, increase the value of your estimate by letting them know all the other things you provide. Improve your sales delivery and your customers will feel like they are getting a fair price!

Determine to walk through the fear (of missing the sale).

This is the hard part because it’s so personal. Yet it is an absolute requirement if you are going to rise above the discount mentality because facing fear head-on is the only way to overcome it. Sometimes you just need to talk to someone who has done it before to know it is OK

It takes courage to stick to your prices, but if it ensures you retain decent margins and make decent money, then it’s worth learning to do. Right?

To do it right, you need to add value to your trade business by marketing quality and service, not cheapness and discounting. Set your trade companies vision and start marketing this to your customers

The Federal Budget 2022

Here is our quick summary of the Federal Budget handed down on Tuesday. The Budget focused on keeping business and the economy going during uncertain times. It would be also be drafted with a focus on the following Federal Elellection due soon. Media reports indicate that if there is a change of Government, the ALP will publish a newly revised budget in July or August this year, which may not result in all initiatives etc., being fulfilled or modified.

Here are the critical points that we believe will impact our clients:
• 120 % tax deductions for small and medium business spending on Training and new technology
• No further extending the temporary full expensing of equipment investments
• $1.3 billion to businesses to fund apprenticeships
• ATO will be allocated more money to chase tax cheats
• PAYG system to better match a business trading result
• TPAR reporting changes to make it easier for businesses to report
• Super pension drawdown rates halved till the start of July 2023
• As previously announced before the Budget, the work-related COVID 19 test expenses incurred by individuals will be tax-deductible.

Small Business Full Expensing is finishing up!

The full expensing instant tax deduction has not been extended, meaning businesses will have to install or use the new equipment by June 30, 2023, to claim full expensing provisions.

In replacing full expensing, we have a New Technology & Training Tax Break

The new temporary tax break is for businesses that invest in either new technology or employee training and skills development.

Employee Training
As of Tuesday night, for every hundred dollars a small business spends on training their employees, they will get a $120 tax deduction,

Technology incentive

As of Tuesday night, every hundred dollars small businesses spend on digital technologies — such as cloud computing, e-invoicing, cyber security and web design — results in 120% tax deduction.
Limited to Investments of up to $100,000 per year will be supported by this new measure; however, if you are spending more, please see us as the existing immediate write off provisions still apply till 2023

How it works in real life, reducing the cost of Training or technology!

For example, Smith Co Pty Ltd has engaged an RTA business in Australia to provide Training staff to its employees online. The total cost of Training was $10,000. Smith & Co Pty Ltd will be able to claim 120% (i.e. $12,000, as a tax deduction concerning these expenses)

The True Cost of the Training from a cash point of view

Cost of training $10,000, payable now when you buy it
Claim tax deduction of $12,000 (still to be clarified – 2023 year )?
Real cash tax-saving @ company tax rate $ 3120
Net cost of training $6,880

A reminder that Loss carryback rules still apply for the next two years

Loss carryback provides a refundable tax offset that eligible corporate entities can claim:
• after the end of their 2020–21, 2021–22 and 2022–23 income years
• in their 2020–21, 2021–22 and 2022–23 company tax returns.
Eligible Companies can obtain the offset by choosing to carry back losses to earlier years in which there were income tax liabilities. The offset effectively represents the tax the eligible entity would save if it could deduct the loss in the earlier year using the loss year tax rate. As it is a refundable tax offset, it may result in a cash refund, a reduced tax liability or a reduction of a debt you owe us.
Loss carry back tax offset – Australian Taxation Office. https://www.ato.gov.au/Business/Loss-carry-back-tax-offset/?=redirected_losscarryback

Fuel costs temporary relief

Petrol and diesel excise will be reduced by half for six months, saving 22 cents for next six months. Hoping this is passed on to the small business at the petrol bowser

Tax Bonus when you lodge your 2022 return

Low Middle-income tax offset (LMITO) — in 2022 can put up to another $1,500 against your tax refund once you’ve done a tax return in 2022

Draw down rates for Self Funded Retiree Pensions – 50% reduction till June 2023

An Initial repair occurs when you acquire a new rental property that has existing known repairs. The old house needs fixing before it can be rented. Initial repairs may include such things as plumbing, painting, new carpet or appliance repairs just to name a few

Initail Repairs must be capitalised!

Though Initial repairs are not able to be claimed outright in the first tax year there is some tax relief. These repairs should be treated as a capital expense. By treating them as a capital expense your will be adding them to the cost base of the property.

We are often asked what is the tax treatment of an initial property repair? Can you claim a tax deduction for a newly acquired rental property investment?

Why the ATO wont allow all repair claims to be treated as an expense.

What is the Government thinking around initial repairs? Why did they decide you just can’t claim the repair outright when you buy the property?

In looking at the intent of the legislation, the lawmakers simply said if you haven’t yet rented the property out yet there is no right to claim an expense on revenue account. Furthermore, the ability for some taxpayers to buy a rundown property and then claim all the expenses in fixing that property up would mean the ATO would be inundated with excessive claims. Hence the initial repairs must be capitalized.

A repair claim should be evaluated on merits. You may find it may not be classified as an” initial repair” simply because it’s the first repair made after you acquired rental your property. The ATO has designed a tool kit and it can be accessed here. Also, you can refer to taxation ruling TR 93/23 where you can read more. It states that A repair is not an ‘initial repair’ simply because it is the first repair made after the property is acquired. The ATO has numerous examples within these two resources.

Repairs that will not be claimed outright can be capitalized. The capitalized repairs are added to the cost base of the Asset. This will assist when calculating the capital gain upon sale as a cost. This means that you can reduce your capital gain at the sale of the property but not claim it against your tax when you acquire the property in the first year.

Here is an example of an ongoing repair that is tax-deductible!

If the dishwasher was working perfectly when you started renting the property but needed repairing a couple of months thereafter, then this would be considered an ongoing repair and tax-deductible.

Repair vs Improvement need help ?

Gartly Advisory looks after many happy clients who own rental properties. Plan carefully and do your homework. The ATO is looking closely at rental property claims as more Australians love to acquire property for investment purposes.

Not sure about what can be claimed upon purchasing your new rental property then reach out to us and we can assist!

Insolvency – Worrells Liquidation observations

Despite the last 2 years being a rocky road for small businesses in Australia, liquidations and actions by the ATO have been very low. Yesterday I attended the Worrells Solvency seminar on the current state of play. Here is a quick summary:

• The ATO has been quiet over the last 2 years about debt recovery, but soon the sleeping giant will awake!
• Jobkeeper forced many taxpayers  to get their lodgments up to date, so the ATO is aware of who owes what,
• ATO debt is sitting at $61 billion outstanding. That’s a lot to collect expected that $20 Billion might never get collected
• ATO has been kind regarding payment plans, but now it is likely that things will tighten up.
• Last 2 years, there has been a drop off insolvency appointments, but soon the ATO will start,
• The prediction is that corporate insolvency appointments will rise with higher interest rates, lack of supply and labour, and more excellent ATO activity.
• Directors changes in terms of appointment and debt

Small Business needs to start managing their debt. To avoid becoming personally liable for ATO Debt in an insolvency situation, make sure you ensure that all returns are lodged on time or within three months of the date of lodgment.

If you need advice on how to manage your debt, please call us, and we can assist you in exploring your options

Like Real Estate, then listen to our client Sue

and her podcast Real Estate Right

The podcast is designed to educate, inform and better prepare the public with expert information about how to maximise their real estate transactions and dealings

PODCAST! – go to her website or search on Spotify etc

https://www.podbean.com/ew/pb-uupcs-11d0846

TOP EXPERTS TALK ABOUT HOW TO BUY, SELL, RENT AND INVEST… RIGHT!

New date for online “Freedom Discovery Workshop.”

Join us as we explore what business freedom means to you and your business

New date Monday, April 4^th 7:30 pm online – rsvp admin@gartly advisory.com.au

https://www.eventbrite.com.au/e/276167834427

The implications of your home business and cgt needs to be considered if your home is regarded as a place of business.

Typically many small businesses operate their business out of the home. Especially since the onset of covid.

Occupancy expenses you can claim

In this case, then you are entitled to claim home occupancy expenses if you are running a business.

If you use some or all of your business from your home, you may be able to claim tax deductions for home-based business expenses in the following categories:

• occupancy expenses (such as mortgage interest or rent, council rates, land taxes, house insurance premiums)
• running expenses (such as electricity, phone, the decline in value of plant and equipment, furniture and furnishing repairs, cleaning)
• the expenses of motor vehicle trip between your home and other locations, if the travel is for business purposes.

A home-based business is one where your home is also your principal place of business. That is, you run your business at or from home and have a room or space set aside exclusively for business activities.

Where you are renting a home, then there are no cgt implications

Where you are operating as a Trust or a Company, you cant directly claim the interest etc., on the house. However, you are entitled to charge your business rent.

Your claim is based on % of occupancy of your home. Make sure you do a mud map and work out the area allocated. Please don’t include your toilet or kitchen as the ATO considers this material and need it for private purposes.

However, your home will be subject to CGT on the proportion of use and time.

CGT implications upon sale of home if used for business

Selling your home from which you have run your business will make it subject to capital gains tax on the percentage set aside for business multiplied by the period. However, as a small business, you will be able to claim the small business capital gains concession. These concessions may considerably reduce or eliminate the gain.

Please discuss your options with us and keep adequate documentation if the ATO decides to review your claim.

Motel Occupancy rates are a good indication of the profitability of your accommodation business. What brings back your customers? Why do some accommodation providers have high occupancy rates and some don’t?

In the seventies, it was “free colour tv ” now it is “free wifi” to add that little extra to attract the customer.

All small businesses need a point of difference to attract customers and retain their competitive edge. With the advent of online reviews and social media, it’s important to keep your accommodation business inviting at all times. A bad review impacts your online chances of securing a customer.

Your higher Motel Occupancy rates are driven by customer satisfaction

The occupancy rate should be monitored weekly. Its is an indication of how space is generating revenue

Traveller surveys show that customers want:

• Cleanliness
• Value for money
• Happy welcome
• Facilities that work
• Quite and restful
• Comfortable beds

It is not a lot to ask for but often one or two of these just doesn’t happen will make repeat business hard to sustain.

To see how Melbourne fairs when it comes to occupancy rates follow this link

Treat travellers how you would like to be treated

How often have you experienced a situation after a long drive and you are greeted with the owner is grumpy or unaccommodating of travellers needs? Rooms, where lights are broken or are so harsh with the lighting as they have inserted those energy-saving globes in that, save money but makes a dull night lighting.

It’s often the little things that can make or break an accommodation business. I was at a meeting in country SA and a fellow meeting attendee complained about her motel. Her story was one of amusement but handled badly by the owner.

She proceeded to tell us after a big day she retired to her room and bed only to find a pair of men’s pj’s under the pillow. It was late so she decided to sleep on top of the bed thinking the sheets had not been changed. She informed the owner the next day and he laughed saying it was probably the old guy who was going to stay before her but changed his mind moved on. The motel owner showed no empathy to the customer and hence she proceeded to warn others not to stay there.

Of course, not all motel owners are the same and many go out of their way to help you. In fact, if you are a regular many add that extra something to keep you coming back.

Look after your customers, keep your lodgings clean and tidy and customers will continue to make your hotel accommodation of choice. A low vacancy percentage is good. This means more revenue to your business and ultimately a higher value upon sale of the business leasehold or freehold, depending on how your business is structured.

Online Reviews help customers decide if your place is where to rest their head!

Always ask and seek online reviews. Reply glowingly when someone leaves a great review and reply empathetically when a review isn’t satisfied.

Always be aware of the reviewer that pays out after the event without having confronted you first hand. Having told someone that you have fixed the problem for next time is better than ignoring it completely.

Running a motel or air BnB takes effort and you need to be a people person which ensures success. Occupancy rate is something that takes time to maintain but ultimately is what drives profitability and value in your business

Are you claiming rental expenses that might relate to the private use of your rental property?

The ATO has indicated that they intend to review taxpayers who have rental properties.

Who’s on the title is important!

When declaring the property. The ATO will be looking for the persons whose name is on the title to declare the net rental income or loss. This also goes for the eventual gain when sold.

Many think that if they share in the loan liability that this is sufficient. The truth is it is entirely based on ownership and title details.

Beware of the ATO

The ATO’s focus will be looking closely at those taxpayers that incur expenses beyond the norm for their rental property. The ATO will consider these expenses as both excessive and where the rental property is not available for rent but rather used as a holiday home.

The ATO like all of us is aware if you have a holiday home for rental in most cases there is a big chance you will use it for your personal use.

Travel to and from your holiday home or rental property

From 1st July 2017 travel expenses to your travel holiday home were legislated to be disallowed. (note this does not apply to commercial properties).

The ATO has previously been on the public record stating that they will take a keen interest in the interest expense claims. They will look to see if the property is available for continuous rent vs the percentage of the expense claim. Remember also you can only claim interest from the time it’s available to rent and not before.

Further, those taxpayers who have drawdown additional funds against their investment loan or refinanced will need to ensure the loan interest claim reflects the proportion % of the original loan.

Those using loan offset accounts should be okay

Adjust for private use on rental expenses

Make sure that if the property is used for private use then the property expenses are proportionately claimed accordingly.

The same goes for low rental, not arms-length, adjustments also apply.

The ATO has technological ways to check taxpayers’ stories, including real estate sites, social media and other sources such as water and electricity accounts. Take care when claiming and if in doubt please check with us.

Rental properties are still a great investment. We are now seeing many of the rental schedules being positive rather than negative gearing. This is entirely due to low-interest rates and high rentals.

We encourage you to contact us if you are purchasing a new property and let’s discuss who should hold the property and what claims can be made

Franked Dividends are recognising tax paid by the Company and transferring the tax as a credit when the Company pays Profit to shareholders.

Running your own Company will mean that as a shareholder you will want to access these profits. This is done as a Dividend. In simple terms your company is a money box and the only way to get it out as a shareholder is to pay profits as a Dividend. This will either be paid to you as a Franked or unfranked Dividend.

Profits to shareholders can be paid from the Company retained profits as a dividend.

A company pays distributions to its members. Shareholder members may be individuals or other entities such as your family trust. The amount of a dividend allocated will depend upon a number of shares you hold and the percentage of ownership.

What is a Franked Dividend and a Franking Credit?

Your Company, after paying a paid tax payment, either in the form of a company tax instalment or year-end company tax, will record these amounts as franking credits in the Company Franking Account.

Presently the Company Tax rate is set at 26%

When the Company issues a dividend, it will issue a distribution or dividend statement to each shareholder member.

The dividend statement is then given to each shareholder who receives a distribution outlining their entitlement.

Dividends paid by your company can be either Franked Dividend or an un-franked Dividend. The franking amount will depend upon the availability of tax paid by the company in the company’s franking account. When no company tax has been paid by the company a franked dividend may not be paid. Therefore, the Company may choose to issue a dividend, as un-franked.

The Dividend statement will show the amount of franking credit attached to the distribution. The statement will also show the extent to which it’s franked. Only resident taxpayers of Australia can claim a tax offset for a franking credit attached to a dividend.

Non-resident taxpayers, receiving a franked distribution are exempt from withholding tax in Australia. This is to the extent that it’s franked. Therefore, if it is 100% franked there is no final tax to pay or declare as a non-resident.

We recommend reviewing your Company’s Retained Profits regularly. Leaving large profits in retained earnings can lead to tax problems down the track when you decide you need to access these profits. Regular Dividends can eliminate the problem of tax implications being paid out in large Dividends.

Grossing up your Dividend in your tax return.

An individual shareholder in your Company will pay you a dividend. The franked dividend from the Company must include the amount together with any franking credit as declared taxable income. This is known as Grossing up your Dividend.

Receiving a franked divided also entitles you to a tax offset equal to the” franking credit amount. For tax purposes, this effectively means any tax up to 26% on the income will result in a neutral result.

A tax offset can result in a refund or excess tax payable. The tax may result in the need to pay additional tax liability on the distribution. When this happens, it is known as ‘top-up’ tax.

Taxpayers with lower taxable incomes can receive a refund of all or almost all the franking credits. This will be dependent on their income position.

As your accountant, we try and work with you to obtain the best result for your tax position. Managing how you declare your declared Frank Dividends using the right tax opportune time. The aim is to help smooth out your tax position and reduce your retained earnings in the Company.

Contact us for help 03 9597 9966

Gifting Assets to your Family Trust protects your investments and assets and is also great for tax planning. Many of us establish a Family Trust for asset protection and to ensure our assets are correctly passed onto the next generation. Having now established your trust, you may now ask how do I get money into the Trust?

Fundamentals of a family trust

Let’s explore the basics of a family trust first. The Trust has a couple of fundamental elements that you should be aware of, but in simple terms these are:

• Trust Deed – the rule book of how you run your Trust
• Settlor – establishes the family trust.
• Trustee – runs the Trust on behalf of the beneficiaries
• Appointor – appoints the Trustee.
• Beneficiary – family who benefit from the Trust.

How do I get money into my family trust?

Putting money into your trust can be done in two ways:

1. Gifting assets from your funds to the trust.

2. A Loan from you to trust – repayable defined or non-defined

Either method works but gifting assets to your Trust is better for estate planning. It must be done properly so that the Trust Assets are secure and recognised as owned by the family trust.

A Trust is a legal entity . However, some registries won’t recognise the Trust but require the Trustee to be the registered owner on behalf of the Trust.

Loaning money to your Trust!

Loaning money to your Trust will allow you to request that you can recall the monies you have lent to the Trust . Repayments will depend upon the Trust the ability to pay and several other factors. Even though a loan agreement is not necessary, many people still decide to draw up an agreement for certainty and estate planning.

The Trustee has an obligation to repay the loan if requested. If no loan agreement, then maybe at a minimum the loan should be recorded by the Trustee by a minute. The accountant should record it on the Trusts balance sheet. Yes ,interest can be charged but that again depends upon what you have agreed to with the Trust and you as the lender.

Gifting assets to the Trust

A Trust can help protect you and your family’s assets. Many families gift assets to the Trust. This means that you forego ownership and the asset forms part of the Trusts capital or corpus. This means that over time creditors, angry family members and newly wedded children cannot make a claim on these assets as they are now owned by the Trust.

In most Family Trusts, the control is established by yourself as the Appointor. The appointor has the ability to fire and hire the Trustee. This means that you effectively control the Trust.

Upon your death, your executor acts on your behalf. The great thing is that the Trust continues to the next generation detailed in the Trust Deed. This will continue until trust vesting day normally 80 years after establishment.

As the Assets are owned by the Trust, gifting can in some circumstances for social security planning.

Every person’s circumstances are different. Therefore what we have outlined above is a very simplified summary of the operation of the trust and your money. We suggest that you seek professional advice. We are happy to assist you if you need help in this area.

Who takes over my business when I die as a sole trader?

If you were running as a sole trader and you die then in most cases your legal personal representative will step in and manage your business. They will be in a position to assess if the business needs to be either wound up, sold or transferred to a beneficiary.

Your business asset forms part of the assets of the estate.

For many clients, they are unsure of the process.

There is a number of matters that should be dealt with in a timely matter when it comes to a sole trader business.

What happens after I die ? The process of winding up my affairs

The process that can take place after death include

• The business continuation as a going concern ! – The longer the business is left un-managed the greater chance that the business value may disappear
• Until probate takes place its best to ensure if a beneficary is to inherit the business that this takes place as soon as practical or allow the beneficiary to act as caretaker mode
• Reassure customers and suppliers of the situation and ensure where possible that the business remains of value and assets are protected from going missing

The business forms part of the estate and impacts the final distribution to beneficiaries. Often upon the death of a sole trader, there may be outstanding debts to the ATO, suppliers and financiers. If there are insufficient assets upon realisation to pay the debts then the estate is placed in bankruptcy.

Careful planning required

We suggest careful planning of your affairs. Planning will ensure that when it comes to your business your wishes and adhered to and that a plan in cases of death has been considered to assist the executor to manage the sale of the business. It is why for many reasons Life Insurance is recommended. Insurance will ensure that insurance proceeds can cover some of these unexpected business expenses.

As a final tip is to make sure all registrations such as GST, ABN, social media accounts and WorkCover have been cancelled. This will avoid recurring notices. We can assist you here!

Suggest that you contact us and discuss a plan so that we can guide you on how you would like to finalise your affairs after the man upstairs has called you for higher duties.

Are you taking a giant step to make a difference or falling into a black hole? The fear of failure has killed more dreams than all other fears combined.

The fear of failure is insidious because it’s mainly in your imagination.

It can also prevent you from trying new ideas, growing and trying something new. Fear guarantees failure.

Interestingly, young children have no concept of failure. They couldn’t care less if they failed to do something. They just try again. There are no negative thoughts or emotions involved. They just keep on going.

Having hesitations is essential, which leads to calculated risks. But, give it a go, and in most cases, success will outweigh failure most times.

Consider these facts:

The fear of failure doesn’t have to impact your life significantly.

1. Failure is temporary – unless you quit. Failure isn’t final unless you give up. Successful people experience failures too. But they ended up being successful precisely because they didn’t stop. So failure is just a temporary state that means nothing because it’s only temporary.
   
   
2. Failure will occur with everyone. You’ve failed thousands of times and managed to survive. Consider how many times you were unable to walk or to talk well. Babies have constant failure.
   
   
3. Successful people fail all of the time. It’s a massive part of how human beings learn. We realized that our approach didn’t work; we adjusted and tried again.
   
   
4. Failure allows you to learn. You can learn something from every single one of your failures. Failure makes you more knowledgeable and capable. The more you fail, the stronger you become.
   
   

Why it’s in your imagination

1. Others are far less concerned about your failure than you think. A few people might notice your disappointment, but they quickly turn their attention back to themselves and their own challenges.
   
   There’s nothing to worry about. Feel free to fail as much as necessary. Fail enough, and you’ll quickly see that no one relevant cares.
   
   
2. Focus on how great it will be when you succeed. Don’t look at possible failure; consider possible success. Make yourself feel excited and optimistic about taking action.
   
   With high enough expectations, you’ll do just about anything without worrying about failure.
   
   

3. Redirect your thoughts. Put your attention on what you’re doing. Forget about the outcome. Stay focused on your actions or something positive. Thinking about failing will freeze you in your tracks. Take risks but put stop gap measures in so that failure is only a small chance in scheme of what you want to achieve.
   
   
4. Consider the cost of doing nothing. Taking action might be a little scary, but what will happen if you do nothing?
   
   
   • What will you feel about failing to take action?
   • What if you’re stuck in your current life for the nextfew years or more?
   • Maybe taking a risk is far more attractive than remaining where you are.
     We’ve all allowed the fear of failure to influence our decisions. We’ve allowed this fear to stop us from trying new things or taking risks. As a result, we all have more minor lives than we could because we’re too concerned with what others think.

Rejecting the fear of failure is one of the most incredible things you can do for your future! Your small business , your team and your family will be incredibly proud if you achieve your goals.

Plan to succeed!

 Bite off what’s going to give you joy. Go where no one has gone!

In business, we have all failed, but many also succeed.

Personally, I have failed at things that looked right. Ultimately I have used my failures to move forward and help myself and others. Failure to me is if I do the same dumb thing again and don’t learn from past mistakes

When it comes to inspiration you need to read what others have achieved and make your own list.

Not sure where to focus on in your business then check out our business value score and within 15 minutes receive your free score.

In 2022 to succeed, start an action plan. Focus on those things you are passionate about that will make a difference in your business. Many of us have a long list of formal and informal goals. Some of us don’t start then for fear of failure. Others find excuses, and others try to do everything at once. Don’t over commit but start by actioning small runs that you can get on the board.

You can start today. What are you going to do today that you’ve been afraid to try? What small step can you take that may make a difference? Sometimes 1 per cent changes can result in extraordinary outcomes. Conquer your fear of failure and just do it