Most companies track numbers such as turnover, net profit margin and gross profit margin but in this episode, Shaz shares the numbers that you should and must be tracking if you want to increase profit and bring more equity to your business.

Businesses often spend time trying to reduce the cost of marketing and generating leads but is this what you should be doing? Listen in and hear about exactly how to track the numbers that make a difference.

 

KEY TAKEAWAYS

• Cost per lead – how much does it cost you to generate a lead? Look at the individual marketing strategies and identify the cost of each marketing activity.
• Cost per sale – how much are you spending on the client between them being a lead and becoming a customer.
• Transaction size and frequency - How much is someone ordering when they place an order and how many times per year do they place an order.
• You need to look at both the frequency and transaction size for each customer
• A higher cost lead could give you a customer with a higher transaction size
• Total customer lifetime value – compare this with the cost of the customer lead.  
• Once you have the real value per customer you can work out your margins and know what you want to pay to get a customer.
• When you have refined your marketing to focus on the more valuable leads you will generate and convert more leads to valuable lifetime customers.
• Tracking these numbers will increase the profit and net value of your business, you are adding more equity and value to your business making it worth more.

 

BEST MOMENTS

‘If you understand exactly the value of each customer you will be ahead of most of your competitors’

‘A higher cost lead could give you a customer with a higher transaction size’

 ‘How much are you spending to get them to be a customer?’

 

VALUABLE RESOURCES

[email protected]

 

ABOUT THE HOST

Shaz Nawaz is a serial entrepreneur; he owns five thriving businesses in diverse sectors.

Shaz is committed to helping business owners build successful businesses. Having conducted over 3,000 business growth consultation he has helped his clients generate millions in additional profits. His purpose is to inspire business owners to build businesses that are hugely profitable and sustainable.

He is a huge advocate of having multiple streams of income. He has written a number of business books and regularly contributes articles to mainstream media outlets.

You can find Shaz on:

•   Facebook
•   LinkedIn
•   Instagram
•   YouTube.

Money is a topic that Shaz knows quite a lot about and in this episode, he shares some great content about ‘must-dos’ for any business that wants to build wealth.

If you own a business or want to start a business follow this advice and take positive steps towards building your success and your business wealth through understanding your spending, investing in yourself and setting the right goals.  Anyone who is in business can take these steps and make a difference to their wealth, listen in and get started now.

 

KEY TAKEAWAYS

• If you have a business you should create more than one bank account with a separate account for your tax.
• You should seek to have multiple streams of income. If you want to create a serious amount of wealth you need to diversify so that if one business is disrupted then the others are not
• Schedule time for extensive reading to underpin your personal development.
• Track your spending – many businesses don’t spend enough time tracking and small amounts can add up to a sizable amount
• Invest time in yourself – network, join groups, complete training because this is the investment that will bring the biggest return.
• Set goals and be clear about what you want – have clarity around goals and how you want to achieve them.
• Value yourself and believe in you – if you don’t value yourself others won’t either.

 

BEST MOMENTS

‘The more you give away the more that comes to you’

‘If you are tracking it you have control of it’

‘Invest in marketing to know where you can get the best returns’

 

VALUABLE RESOURCES

[email protected]

 

ABOUT THE HOST

Shaz Nawaz is a serial entrepreneur; he owns five thriving businesses in diverse sectors.

Shaz is committed to helping business owners build successful businesses. Having conducted over 3,000 business growth consultation he has helped his clients generate millions in additional profits. His purpose is to inspire business owners to build businesses that are hugely profitable and sustainable.

He is a huge advocate of having multiple streams of income. He has written a number of business books and regularly contributes articles to mainstream media outlets.

You can find Shaz on:

•   Facebook
•   LinkedIn
•   Instagram
•   YouTube.

Shaz is looking at the onboarding process and the difference in the expectation gap between what’s promised and what’s given.

Onboarding a new customer, client, patient or tenant is an important process in any business and in this episode, Shaz explains the detailed process he uses and how getting it right can build confidence, customer relationships, retention and longevity with your customers.

Shaz is sharing his expertise and experience of how to get onboarding right and make your customer feel they are part of your business family, listen in and enjoy.

 

KEY TAKEAWAYS

• The single most expensive and arduous task any business faces is getting more and new customers, clients and tenants.
• There can be an expectation gap between what they thought they were going to get and what they got – they are 2 different things
• when a customer signs up there should be an onboarding program and its length and depth should be determined by the lifetime longevity and value of the customer.
• if you make them happy and satisfy them then they will be more likely to give a strong and positive testimonial and be happy to recommend you.
• A good onboarding process helps you to build a strong customer relationship and this will mean retention rates increase.
• enables you to share relevant information provide good value and upsell because of the strong relationship in place.

 

BEST MOMENTS

‘Haven’t, you had an experience where what you got was very different from what you were expecting?’

‘If signing up a customer is an expensive process then its important to do everything you can to keep them’

‘If a customer is happy they will recommend you’

 

 VALUABLE RESOURCES

[email protected]

 

ABOUT THE HOST

Shaz Nawaz is a serial entrepreneur; he owns five thriving businesses in diverse sectors.

Shaz is committed to helping business owners build successful businesses. Having conducted over 3,000 business growth consultation he has helped his clients generate millions in additional profits. His purpose is to inspire business owners to build businesses that are hugely profitable and sustainable.

He is a huge advocate of having multiple streams of income. He has written a number of business books and regularly contributes articles to mainstream media outlets.

You can find Shaz on:

·    Facebook

·    LinkedIn

·    Instagram

·    YouTube.

The coronavirus business interruption loan hasn’t quite worked out how the government wanted and so for smaller businesses, there is now the bounce back loan scheme.

The government don’t often do things that are positive for small businesses and entrepreneurs but with the bounce back loan scheme they have delivered something that can make the difference. Naz explains exactly what the qualifying criteria are and what he thinks about the scheme in this informative episode.

 

KEY TAKEAWAYS

• It is 100% guaranteed by the government so there is no risk for the bank as a lender.
• There is no interest to be paid in the first 12 months
• The loan is over 6-year period and you can borrow anything between 2,000 and 50,00 pounds.
• Your business must be UK based, established on or before 1 March 2020 and negatively affected by the coronavirus.
• It is a broad scheme and the interest rate is phenomenally low.
• You need to look at your own circumstances and seek advice from an appropriately qualified person before making an application.
• It is a self-certification process and you are responsible for repaying the loan in full, you need to understand the self-certification that you are submitting.

 

BEST MOMENTS

‘At the moment I’m extremely impressed with it’

‘Of my clients, not a single one has been refused’

‘It’s an extremely quick and efficient process’

 

 VALUABLE RESOURCES

[email protected]

 

ABOUT THE HOST

Shaz Nawaz is a serial entrepreneur; he owns five thriving businesses in diverse sectors.

Shaz is committed to helping business owners build successful businesses. Having conducted over 3,000 business growth consultation he has helped his clients generate millions in additional profits. His purpose is to inspire business owners to build businesses that are hugely profitable and sustainable.

He is a huge advocate of having multiple streams of income. He has written a number of business books and regularly contributes articles to mainstream media outlets.

You can find Shaz on:

·    Facebook

·    LinkedIn

·    Instagram

·    YouTube.

In this episode, Shaz is answering a range of questions around tax, finance and the current support available from the government.

This is a great listen and the wide range of questions that Shaz answers provide valuable information about buying land, loans between companies, deferment, the grants available to businesses during the current pandemic and why it’s vital to create your own emergency budget.

Shaz truly has a wealth of expertise and knowledge, listen in for great content shared in an easily accessible way, with the questions we are all asking and the answers we need.

 

KEY TAKEAWAYS

• HMRC are currently being flexible around payment plans and deferring.

People are protecting cashflow and deferring but it’s vital to remember these payments will have to be made later.

• Create an emergency budget and be ruthless. Cut costs where you can because if you need it later you can get it later.
• There are many scams operating at the moment so you need to be very aware of this.
• For directors who are on an annual salary, there is a challenge as they would not have filed their RTI by the date currently being used as the stop point by the government.
• When you are working in property every deal is different so it’s important to ring-fence finance setting up a limited company for each deal is a way of achieving this.
• If a tenant is seeking deferment you can as the landlord request evidence of their change in circumstances.
• If a business has applied for a business rates account number and not yet received one they should still be able to access the small business grant.

 

BEST MOMENTS

‘If you can get the VO to register you and you can show you were there prior to March then you can apply to the council for rates relief’

‘The Chancellor has not been very favourable to directors’

‘Make sure you budget for deferred payments’

 

 VALUABLE RESOURCES

[email protected]

 

ABOUT THE HOST

Shaz Nawaz is a serial entrepreneur; he owns five thriving businesses in diverse sectors.

Shaz is committed to helping business owners build successful businesses. Having conducted over 3,000 business growth consultation he has helped his clients generate millions in additional profits. His purpose is to inspire business owners to build businesses that are hugely profitable and sustainable.

He is a huge advocate of having multiple streams of income. He has written a number of business books and regularly contributes articles to mainstream media outlets.

You can find Shaz on:

•   Facebook
•   LinkedIn
•   Instagram
•   YouTube.

In the current climate, never has cash flow been so important and the saying ‘cash is king’ been so true and in this episode Shaz shares some great tips on how you can keep your cash at the moment and be in a great position when things start to move again.

He explains the vital importance of tracking all money through your cash flow forecast and undertaking regular reviews of all aspects of your business.

With many elements to any business it’s vital to closely examine every payment and service to ensure you are running your business in the most efficient way.

This will mean when there are tough decisions to be made and difficult times you know exactly where your money is, putting you in a great position to move quickly when the world moves forward and the opportunities start coming.

 

KEY TAKEAWAYS

• Complete a cash reconciliation every day and have a cash flow forecast.
• Speak to your suppliers to agree payment dates, it’s vital to keep communicating.
• Speak to your accountant, they will be able to advise on the grants and funds available to small businesses.
• Stress-test your business by considering different possible scenarios moving forward, this helps you to see exactly what things will look like and you will know exactly when the money will run out.
• Your cash flow forecast will help you to know when you should be furloughing your staff.
• If you have investors and stakeholders it’s important to keep them informed and on board with you on your current business journey.
• Look at what you can put on hold, only make the cuts you need to, it is possible to make so many cuts the business can’t survive.
• You need to preserve cash because there will be many opportunities moving forward and those who are quick to move will be able to grow their businesses quickly

 

BEST MOMENTS

Keep a tight eye on what’s going on

‘Get ready for the upside when it comes’

‘Review your management accounts regularly’

 

 VALUABLE RESOURCES

[email protected]

 

ABOUT THE HOST

Shaz Nawaz is a serial entrepreneur; he owns five thriving businesses in diverse sectors.

Shaz is committed to helping business owners build successful businesses. Having conducted over 3,000 business growth consultation he has helped his clients generate millions in additional profits. His purpose is to inspire business owners to build businesses that are hugely profitable and sustainable.

He is a huge advocate of having multiple streams of income. He has written a number of business books and regularly contributes articles to mainstream media outlets.

You can find Shaz on:

•   Facebook
•   LinkedIn
•   Instagram
•   YouTube.

 

In this informative episode, Shaz shares some of the tax advantages of Serviced Accommodation and why having SA as part of your strategy can significantly reduce the amount of tax you pay.

If you have ever wanted to understand more about Service Accommodation and the tax relief that can be applicable to this type of business then this is an episode you can’t afford to miss!

This is a great overview and provides clear advice on both the tax relief that is accessible for Serviced Accommodation and the criteria that must be met, listen in and learn why the differences between ‘buy to let’ and Serviced Accommodation can be a game-changer.

 

KEY TAKEAWAYS

• Section 24 mortgage interest relief does not affect a serviced accommodation business if you meet the required criteria. The property must be available for commercial letting for 210 days out of the tax year and actually let for 105 days.
• Rollover relief, gift relief and relief of loan to traders are all accessible if you qualify as a serviced accommodation business. These are not available to buy to let businesses which are treated as investment businesses.
• When you are buying a property you can claim capital allowances - when you purchase a commercial property you can claim capital allowance on the purchase and when you undertake refurbishment you can claim capital allowances.
• In serviced accommodation, you can use partnership rules and split the profits however you choose.
• If you qualify for the tour operators margin scheme (TOM) you will only pay VAT on the margin, not the gross amount.
• If you only have one property changing it to serviced accommodation for 2 years can mean you will be able to claim entrepreneurs relief and sell the property as a serviced accommodation business.

 

BEST MOMENTS

‘Make sure you claim capital allowances it’s a game-changer’

‘You will be able to significantly reduce the amount of tax you will pay’

‘Entrepreneurs tax means you only pay 10% if you meet the required rules’

 

 VALUABLE RESOURCES

[email protected]

 

ABOUT THE HOST

Shaz Nawaz is a serial entrepreneur; he owns five thriving businesses in diverse sectors.

Shaz is committed to helping business owners build successful businesses. Having conducted over 3,000 business growth consultation he has helped his clients generate millions in additional profits. His purpose is to inspire business owners to build businesses that are hugely profitable and sustainable.

He is a huge advocate of having multiple streams of income. He has written a number of business books and regularly contributes articles to mainstream media outlets.

You can find Shaz on:

•   Facebook
•   LinkedIn
•   Instagram
•   YouTube.

Shaz is now like the rest of us ‘staying at home’ and in this episode, he reflects on how working from home was not something he had ever contemplated before because home is where he spends time with his family.

Currently, everything is different for everyone and Shaz shares how he and his team are adapting to working from home and discusses the best way to create a productive routine using the right software.

 

KEY TAKEAWAYS

• We have a group huddle every morning to share what we are looking to achieve, it sets up the day so we know what to focus on.

When working from home you can choose a different routine from the traditional 9 to 5.

• I can get started earlier in the day if I want to. I like to have a routine and structure to my day but using software like Asana and Teams help keep me organised and focused.
• Having a dedicated space for work can make it easier for you and I can take a walk at lunchtime which I never did before when I was in the office.
• There are lots of benefits from working at home but also distractions such as social media.
• Working from home means I have a higher expectation about keeping focused.
• Through ‘Teams’ people are more thoughtful and considerate about others time.
• Will I carry on working from home? I don’t have as much of an aversion to it now but I think in time when things are back to normal I’ll go back to the office because I’m a creature of habit but it’s a positive that I have been able to adapt and work from home.

 

BEST MOMENTS

‘There is no commuting so you can either spend the time on your business or on yourself’

‘My team are committing to doing more and achieving more because they are putting more effort in at home to show it can work’

‘Working from home means I have a higher expectation of myself about keeping focused’

 

 VALUABLE RESOURCES

[email protected]

GOV COVID19 Support for Business

 

ABOUT THE HOST

Shaz Nawaz is a serial entrepreneur; he owns five thriving businesses in diverse sectors.

Shaz is committed to helping business owners build successful businesses. Having conducted over 3,000 business growth consultation he has helped his clients generate millions in additional profits. His purpose is to inspire business owners to build businesses that are hugely profitable and sustainable.

He is a huge advocate of having multiple streams of income. He has written a number of business books and regularly contributes articles to mainstream media outlets.

You can find Shaz on:

•   Facebook
•   LinkedIn
•   Instagram
•   YouTube.

There is lots of information out there and Shaz brings together the important key points that every business owner should know about COVID19 and Government Grants and Loans in a clear and succinct way in this informative episode.

From the loans available and the qualifying criteria through to what is happening with Tax and VAT this is a must-listen for every business owner with clear information and great advice on what you can do now.

KEY TAKEAWAYS

Business interruption loan scheme

Funded by the government this is a demand-led scheme. They will fund based on how many people need it and how many qualify for it

Speak to your bank or one of the providers making loans available through this government incentive.

This loan facility is available to businesses who have at least 50% of more of their income from a trading business or trading activity If you get funding for the initial 250,000 it should be unsecured, but it is at the bank’s discretion over this amount will require security

Furloughing employees

Kicks in from the 1st March. You can furlough employees you can no longer pay and claim 80% of their actual monthly salary. The payroll run used for the calculation will be 28 February 2020.

HMRC are policing the system and expect to begin making payments at the end of May -until this point employers will need to continue paying their employees and will be reimbursed in early May

If an employee has been furloughed they can’t work but they can undertake training but use a furlough agreement so everyone is clear about the arrangement in place.

If you had already made people redundant you can bring them back and furlough them.

Directors can furlough themselves but can then only carry out the statutory duties required.

10k grant

If you qualified for small business rate relief on 11 March you will get 10k grant administered by your local authority.

Most local authorities are contacting small businesses but you can be proactive and contact them yourself.

 

BEST MOMENTS

‘The loan must be used for business purposes; it is intended to bridge the difference between loss of income and loss of turnover’

‘If you get funding for the initial 250,000 it should be unsecured, but it is at the bank’s discretion’

‘I’m distilling the information to make it easier for you and your business’

 

VALUABLE RESOURCES

[email protected]

GOV COVID19 Support for Business

ABOUT THE HOST

Shaz Nawaz is a serial entrepreneur; he owns five thriving businesses in diverse sectors.

Shaz is committed to helping business owners build successful businesses. Having conducted over 3,000 business growth consultation he has helped his clients generate millions in additional profits. His purpose is to inspire business owners to build businesses that are hugely profitable and sustainable.

He is a huge advocate of having multiple streams of income. He has written a number of business books and regularly contributes articles to mainstream media outlets.

You can find Shaz on:

·        Facebook

·        LinkedIn

·        Instagram

·        YouTube.

One of the most effective strategies in property is the new-build; a project involving the purchase of land, the obtaining of planning permission for that land, and the building of a new property there.

When it comes to this strategy, there are few people more experienced than Shaz. In this week’s episode, he talks you through a recent project he’s completed, including the pitfalls he wants you to avoid, and the lessons you can take away for your own projects.  

 

KEY TAKEAWAYS

• When you’re buying properties at auction, make sure you set your walkaway price before going in. If there’s a pre-auction asking price, your walkaway bidding price should definitely be no higher.
• When you have joint venture partners working with you on new build projects, it’s always advisable to keep their family or close friends out of it, as the relationship can become strained and imbalanced, and accountability becomes far more difficult.
• Always get three quotes for any work required, and make sure you practice complete transparency. This means the same terms and conditions, the same criteria and time-frames. 
• If you’re teaming with a joint venture partner, it’s vital to ensure that they have the necessary time and resources to put into the project. Remember that this is a business, and it needs to be fair. Don’t be the only one doing all the work. 
• Make sure you schedule in regular updates and/or meetings with any partners. Even a regular email between you can make sure that you stay on target.

 

BEST MOMENTS

‘I got a bit excited on the phone…'

‘You need to be dispassionate about this!’

‘It’s very hard to hold these people accountable’

‘It was friendship that got in the way’  

 

ABOUT THE HOST

Shaz Nawaz is a serial entrepreneur; he owns five thriving businesses in diverse sectors.

Shaz is committed to helping business owners build successful businesses. Having conducted over 3,000 business growth consultation he has helped his clients generate millions in additional profits. His purpose is to inspire business owners to build businesses that are hugely profitable and sustainable.

He is a huge advocate of having multiple streams of income. He has written a number of business books and regularly contributes articles to main stream media outlets.

 

You can find Shaz on:

• Facebook

• LinkedIn

• Instagram

•