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9 business building things to spend money on before the end of financial year

Nine business building things to spend money on before the end of financial year

So, it’s June, tax time is just around the corner, and you’re in the enviable position of having made too much money and you’re looking for something to spend it on before the end of financial year. Or maybe you’re a not-for-profit who has surplus funds.

While we’d never advocate spending money simply for the sake of spending it, there are certainly things worth investing in that will have a positive impact on your business down the track. Here are nine ideas:

1. Team building

If you’re a business owner, you know how valuable it is to have good people working for you. It’s important to show them you appreciate them, and it’s also useful to get them out of the office to have some fun. Team building activities are a great way to do this and gone are the days of boring seminars and lame trust exercises. Today most team building companies offer outdoor events and adventure-type activities. [It doesn’t have to be paintball (but it could be)]. Or organise something yourself – a little while back the Success Resources team all flew to Queenstown in NZ to ride helicopters, skydive and go jet-boating – we still rave about it.

2. Stock up the library

Business books are an investment that never stops paying back. There are many that can have a major impact on your business life, but for a selection a little outside the norm, have a look at what Tony Robbins is reading right now.

3. Get a magazine subscription

Business magazines tend to be a little hit and miss but Nathan Chan’s Foundr Magazine is next level. Over the past few years he’s managed to secure interviews with Richard Branson, Ariana Huffington, Seth Godin, Tony Robbins and Gary Vaynerchuk to name a few. The magazine doesn’t just promise ‘talks, tips, and tools you need to build a game-changing business’ – it actually delivers.

4. Get your blog happening

“I’m a business builder, not a writer.” If you’re really a business builder, you’re creating content that allows your customers to search, find and engage with you. You know that what you know nobody else knows. You’re the authority, get it out there and get found. Oh, so you don’t have the time to write a blog – then spend much less time to find a specialist writer who does.

5. Change your accounting software

If you’re currently using an account system that’s not doing the job for you (not naming names) and you’d like to switch over to something that actually plays nicely with other programs the end of June is the ideal time to do this as it means you’re starting the new financial year with the new software. Don’t wait ‘til after the first quarter of a financial year had already finished, it’s bound to cause unwanted pain. If you’re going to move over, do it now.

6. Upskill

If there’s an online course you’ve been eyeing off, this is probably a good time to purchase it. Not just because you’ve got surplus cash to spend, but also because July tends to be a quiet month for many businesses (which means you’ll actually have time to do the course!). There are amazing self-paced online course for those who work for themselves from home but no matter what your situation there is a huge range of courses out there for specific skills.

7. Join a business mastermind

Some of the biggest jumps you can make in your business life will be thanks to business mastermind groups you’re part of. There are lots of free groups out there but reports suggest paid groups have a reputation for higher quality, and also the founder of the mastermind tends to be more active in them (which is important).

8. Buy that conference ticket

Even if most of your interaction with people is from behind the safety of your laptop screen [and you can build some great relationships that way] the relationships you’ll be able to build in real life by attending conferences in person are among the best business relationships you can make. So, if there’s a conference you have your eye on attending, and you’re umming and ahhing about it … grab your ticket now. You won’t regret it.

9. Get a branding audit

There are so many businesses out there who are struggling to get noticed by the ‘right’ kind of client, and it’s almost always because they’re not sure what their brand is. This makes all their marketing efforts weak because it lacks a coherent and unified message.

As Tony Robbins [& he’s not the world’s #1 life & business strategist for nothing] says:

“When you are building a business, one of the most critical areas of focus is creating a brand identity – that is, what your company is and what it offers the customer. It sounds simple enough, but it’s layered with complexities. It’s a manifestation of your business’s values, goals, mission. It’s the catalyst that sparks the emotions you want your customers to experience. And it will become your north star – guiding every decision you make, from what design aesthetics you use to the tone of your content to the employees that you bring on to be part of your team.”

If it feels like the ‘right’ kind of client is continually passing by your business, it might be time for a brand audit.

To wrap up

Again, don’t spend money just for the sake of spending money at the end of this financial year. Check in with your accountant first. If they give you the go ahead, hopefully the ideas above will prove helpful 😊

Source: swishdesign.com.au

PS: 10. Create the ultimate business advantage with Tony Robbins*

At Tony Robbins’ Business Mastery program you’ll discover how to take control of your business, grow your company and thrive – not just survive – in any economy, all with a $1 Million 100% Satisfaction Guarantee. Plus, enrol now & you’ll condition yourself for success at his firewalk weekend, Unleash the Power Within, FREE – very limited offer, act now.

Tony Robbins Business Mastery
*Please be advised by your tax advisor to confirm your eligibility for tax deductions.

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