19 June 2020

Get smarter about running your small business

| My Gungahlin
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Jane Hadrill with business client Holly Komorowski from home.byholly

“Get Smarter about running your Small Business” is a CIT short course, starting on Wednesday 17th October. This course looks at how your business fits with the Australian tax system framework, maximising tax deductions, interpreting financial statements, creating and utilising a budget, monthly reporting and cash flow management.

Who is running the course?

Jane Hadrill (BA,CPA,MPA), Managing Director of Mitchell based firm Hadrill Accounting, has been in business for 12 years. Jane is passionate about small business, and understands the trials, tribulations and rewards firsthand. Jane’s knowledge of the industry and engaging presentation style makes her courses very popular.

We asked Jane to tell us a little bit about the course and her passion for small business.

How can a course like this help small business owners?

There’s so much useful content in this course: business structures, tax deductions, bookkeeping, how to employ staff, business challenges, and what makes a good accountant.

Plus, course attendees get four weeks’ access to my advice, not only during the course hours but also via ‘on the spot’ phone calls and emails for the duration of the course.

Business owners are so busy working in the business that they often don’t have time to step away and work on their business to understand it better. Doing the Get Smarter about running your Small Business course allows them to carve out this time.

What are some of the biggest mistakes those starting out in small businesses make?

Business owners who are just starting out tend to ‘go too big too fast’. My advice is to only buy items for your business if and when you need them, even if they are tax deductible. Also, don’t outsource the bookkeeping until you’ve got your head around it yourself. It’s just as important to be on top of the financials of the business as it is to master the products/services you are selling. It’s no good ploughing ahead making muffins if you don’t know how many you need to make to turn a profit.

Why are you the best person to teach this course?

Being an accountant does not automatically make someone good at running a business, but my own success in business means I am well placed to teach other business owners about much more than just accounting. For a business to thrive, owners need the tools to help them look forward and make the right decisions. I can help them fine-tune the direction they want the business to go, by looking at such things as budgeting, profit margins, cash flow and long-term goals.

I also like to think that I’m approachable and people tell me I have a knack of explaining complex ideas in a simple manner and making sure my audience understands them.

If you were to give those starting out in Small Business one piece of advice what would it be?

Find an accountant who you can communicate with and who you can ring up for advice without the fear of unexpected bills! Also, do your homework before you start: do some projections at a very specific level eg how many coffees do I need to sell to pay the rent. Asking yourself these sorts of questions is important and turns your business from just an idea to a profitable possibility.

The Details:

Wed 17 Oct- 7 Nov

6 – 8pm/4 sessions/CIT Bruce

Go here to register: www.shortcourses.cit.edu.au

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