Happy New Year to everyone, hopefully you have had a brain break and now thinking about what this year could hold!

The media are all repeating the same message of how tough this year will be, they sell fear based on, at the best of times half-truth. The signals do indicate that 2023 will be financially tough for some people.

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If you look back over the last few years in business and how tough that has been and how many challenges and obstacles you overcame then look where you are now; you are stronger, wiser and more resilient than ever! Yes, 2023 could be tough, and you are now tougher and ready for this challenge!

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When the marketplace gets harder to operate in, people leave and less people join, resulting in a larger slice of pie for those remaining. There are often more opportunities available, for the right person to capitalise on.

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What you focus on expands, what you feed grows and you have control over the inputs you put into your mind. The new year means it is a time to reflect and a time to reset. One practical action you could take is to assess what unhelpful inputs you consume are. Make a list and the time you spend on each one then choose to eliminate one. For example, you may choose to delete one social media app from your phone.

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Now what is a positive input you can add for your mind, for example listen to one business podcast a week. There are two great books on habits – Tiny Habits & Atomic Habits. Both are great books that I recommend reading.

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As you look forward into this year, knowing that there is greater emphasis of finances, it is even more important to have a budget and/or a cash flow. Budgets are vital for making decisions. They give you something to track against and when variances occur. It is a tool to ask questions and learn what is causing particular results. Budgets give you a way to make decisions earlier and faster and can help you feel more in control of your finance and your business.

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If you have never done a budget or it has been a long time – we can help

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If you always budget and want to run through it with us – we can help

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No matter the level you are at with your budgeting, we can assist and support you with the process.

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Xero has a budget functionally built in, that allows you to track actuals to budget. If you are using Xero, then tap into this resource.

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Remember as you go into 2023, reflect back on the knowledge and skills you have built that makes you ready to tackle new challenges. The struggle makes you stronger!

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