Accounting On Purpose

As the CEO of an NFP, telling your story in meaningful and consistent ways is vital to delivering on your purpose. In this podcast, I discuss storytelling through the language of accounting, and why the CEO, Board and stakeholders should speak it regularly to tell their story. Creating a meaningful story with the numbers on the page may be challenging at first, however when spoken regularly, this unique approach has many benefits. Using the language of accounting in storytelling creates consistency and aligns your purpose throughout the organisation. Connect with me on LinkedIn or visit our website rightsource.com.au Visit the downloads page to access accounting spreadsheets, templates and budgets. If you have any questions, are in the process of starting up an NFP, interested in becoming an NFP CoSec, feel free to contact me on LinkedIn. If it is of interest, join us for the NFP Governance Rendezvous, a free online event for NFP CEOs, Directors and CoSecs, or anyone aspiring to these positions; or just wanting to learn more about governance in the NFP space. Click here to learn more about upcoming Rendezvous. Right Source Empowering Your Purpose Is Ours.

Today I want to talk to you about recruitment bias and how it plays into the daily running of your business. The cost of recruitment bias needs to be examined in order to make good decisions as you move the business forward. In this episode we look into unconscious bias in recruitment that you may have and general unconscious bias in the workplace and how once we recognise where it shows up, we can begin to manage it. One way that unconscious bias in recruitment and selection plays out is the moment we even think about hiring. We look at the person who was hired before and think that we need another one of them when in fact, there may have been inefficiencies about that role that can now be managed in a new way. The good news is that our unconscious bias in recruiting can be managed if we begin to ask the right questions. If you’re not sure that you contribute to unconscious bias in the workplace (unconscious bias @ work), then I’d love for you to listen and critically examine your own behaviour and perhaps begin to put into place the suggestions I make around how to go about lowering your own recruitment bias. Connect with me on LinkedIn or visit our website rightsource.com.au Visit the downloads page to access accounting spreadsheets, templates and budgets. If you have any questions, are in the process of starting up an NFP, interested in becoming an NFP CoSec, feel free to contact me on LinkedIn. If it is of interest, join us for the NFP Governance Rendezvous, a free online event for NFP CEOs, Directors and CoSecs, or anyone aspiring to these positions; or just wanting to learn more about governance in the NFP space. Click here to learn more about upcoming Rendezvous. Right Source Empowering Your Purpose Is Ours.

In this episode I want to talk about paying yourself first from your business and also why, how and when to do it. So, the question is, are you paying yourself first? And if so, do you know how to pay yourself first? If your business is bringing in income and you are doing all the work then it stands to reasons that you need to pay yourself first. It’s a big step for a lot of people to pay themselves before they pay others but you need to know how to pay yourself as a business owner because it will inform you of a number of things. It will give you a taste of what it’s like to pay employees, whether or not the business can withstand wages going out and how profitable the business truly is. If you want to know how to pay yourself as a sole trader or how to pay yourself as a business owner in Australia then you take a look at the standard salaries and wages going in your industry and pay yourself accordingly. Knowing how to pay yourself and how much should you pay yourself will give you enormous insight into eventually hiring employees to fulfil the technical role you are currently filling. Connect with me on LinkedIn or visit our website rightsource.com.au Visit the downloads page to access accounting spreadsheets, templates and budgets. If you have any questions, are in the process of starting up an NFP, interested in becoming an NFP CoSec, feel free to contact me on LinkedIn. If it is of interest, join us for the NFP Governance Rendezvous, a free online event for NFP CEOs, Directors and CoSecs, or anyone aspiring to these positions; or just wanting to learn more about governance in the NFP space. Click here to learn more about upcoming Rendezvous. Right Source Empowering Your Purpose Is Ours.

Firing a client is never easy and it’s not something any of us ever really want to do. However, it’s important to maintain a profitable business so that sometimes means doing the difficult thing. In this episode I want to take you through my process of understanding when you should be firing a client - tips to determine client profitability. To understand when to fire a client, a great place to start is with a client profitability analysis. That being said, determining whether or not they are profitable strictly by numbers is not the whole picture and firing customers needs to be based on more data than purely numbers. If you truly want to know when to fire a customer you need to take into account other factors such as how difficult they are to work with. Are they paying their invoices on time? Do they always question the process or the invoice? You see, if it’s purely a mathematical issue then you have a moment to discuss new fees with that client but if you are seeing behavioural things as well then terminating a client might be the best solution. Difficult clients are never easy but firing difficult clients brings an unprecedented amount of relief as well as gives you time back in your schedule for new and more profitable clients. Connect with me on LinkedIn or visit our website rightsource.com.au Visit the downloads page to access accounting spreadsheets, templates and budgets. If you have any questions, are in the process of starting up an NFP, interested in becoming an NFP CoSec, feel free to contact me on LinkedIn. If it is of interest, join us for the NFP Governance Rendezvous, a free online event for NFP CEOs, Directors and CoSecs, or anyone aspiring to these positions; or just wanting to learn more about governance in the NFP space. Click here to learn more about upcoming Rendezvous. Right Source Empowering Your Purpose Is Ours.

Are you part of the finance team in your organisation or do you have a finance team? Today I want to talk to you about understanding finance team culture and its organisational impact so that you can make strides towards enhancing your team culture. While the finance culture is just one area of organisational culture, it is an important one. In today’s episode I delve into how culture not only impacts your business but how it creates value within the business. Naturally, this affects not only the team itself and the organisation but clients too. In Australia, corporate culture (particularly accounting culture) does not get spoken about enough so as a not for profit accountant here in Australia, I want to shed light on the topic. Connect with me on LinkedIn or visit our website rightsource.com.au Visit the downloads page to access accounting spreadsheets, templates and budgets. If you have any questions, are in the process of starting up an NFP, interested in becoming an NFP CoSec, feel free to contact me on LinkedIn. If it is of interest, join us for the NFP Governance Rendezvous, a free online event for NFP CEOs, Directors and CoSecs, or anyone aspiring to these positions; or just wanting to learn more about governance in the NFP space. Click here to learn more about upcoming Rendezvous. Right Source Empowering Your Purpose Is Ours.

Personal/professional development training is one of those expenses where it can be difficult to measure in terms of impact and ROI as it’s a long term venture. Personal development training expenses can also eat up a large portion of your PD budget if you aren’t careful. In this episode we look at personal development and professional development and how these business expenses should be considered within your training and development budget. Training and coaching employees is essential to long term success within your business. Leadership development training is essential for those in leadership positions as they need to continue to make great decisions for individuals and for the business as a whole. Unfortunately these things do cost money (and sometimes a lot!) so as you are tracking expenses for small business and working out your budget for business expenses such as training, be mindful of the long term impact versus the short term impact of these investments. And, if you’re asking, how much should I spend on personal development and professional development for your staff then you’ve come to the right place. Connect with me on LinkedIn or visit our website rightsource.com.au Visit the downloads page to access accounting spreadsheets, templates and budgets. If you have any questions, are in the process of starting up an NFP, interested in becoming an NFP CoSec, feel free to contact me on LinkedIn. If it is of interest, join us for the NFP Governance Rendezvous, a free online event for NFP CEOs, Directors and CoSecs, or anyone aspiring to these positions; or just wanting to learn more about governance in the NFP space. Click here to learn more about upcoming Rendezvous. Right Source Empowering Your Purpose Is Ours.

Finding an accountant can be a daunting task at the best of times. On the one hand there is an abundance of accountants all seemingly performing the same duties. On the other hand, how do you know who to trust? Do they specialise in your type of business? How do you go about asking the right questions when you’re hiring an accountant? I’m going to answer these questions and more in today’s episode. Hiring an accountant for small business doesn’t have to be scary and you don’t need to fear it. Knowing how to choose an accountant really comes down to the values you hold and whether or not the accountants you talk to hold similar values to you. So, listen and learn how to pick an accountant, learn the difference between a cpa and accountant and take notes on the questions to ask your accountant to help inform your final decisions. Connect with me on LinkedIn or visit our website rightsource.com.au Visit the downloads page to access accounting spreadsheets, templates and budgets. If you have any questions, are in the process of starting up an NFP, interested in becoming an NFP CoSec, feel free to contact me on LinkedIn. If it is of interest, join us for the NFP Governance Rendezvous, a free online event for NFP CEOs, Directors and CoSecs, or anyone aspiring to these positions; or just wanting to learn more about governance in the NFP space. Click here to learn more about upcoming Rendezvous. Right Source Empowering Your Purpose Is Ours.

I want to discuss job automation and job loss and what this means for jobs in the future. Globally, It’s already been a wild year and the future of the workplace might feel even a little more uncertain for some. Robots taking over jobs in the near future is a real possibility as we have tasted a crisis that has, for the most part, shut the world down. The question on many people’s lips is ‘will robots take our jobs?’ and the simple answer is, over time - yes they will. We’ve already seen it happen with the installation of ATMs and self-service checkouts in the grocery store. AI taking jobs is the modern world that we live in. However, I want to pose to you the idea that jobs in the future, while potentially different from today's, will be abundant and require something that only humans can give. And that’s what I want to discuss in today’s video. Will robots take my job? Will robots replace humans? Yes. But jobs that will disappear will be replaced by new jobs that, I believe, will bring even more professional fulfilment. Connect with me on LinkedIn or visit our website rightsource.com.au Visit the downloads page to access accounting spreadsheets, templates and budgets. If you have any questions, are in the process of starting up an NFP, interested in becoming an NFP CoSec, feel free to contact me on LinkedIn. If it is of interest, join us for the NFP Governance Rendezvous, a free online event for NFP CEOs, Directors and CoSecs, or anyone aspiring to these positions; or just wanting to learn more about governance in the NFP space. Click here to learn more about upcoming Rendezvous. Right Source Empowering Your Purpose Is Ours.

If COVID has taught us one thing, it’s that having a business continuity plan is necessary moving forward. In this episode I want you to think about your own business continuity planning for your business and how that has effectively become a business continuity planning process that can now be documented and written into your business systems. Second to this, I want you to think about the change management principles this pandemic has activated and how that too should be something documented and accounted for within your business. COVID-19 business continuity has enlightened us with many learnings as we’ve been forced to pivot and adapt at lightning speed. Planning for a pandemic and business continuity were likely not on the agenda before now and in the face of such a pandemic, your ability to adapt has possibly taught you more than prepping without actual experience. That being said, how can we use COVID-19 as effective crisis management planning, business continuity planning and disaster recovery as we move forward? Connect with me on LinkedIn or visit our website rightsource.com.au Visit the downloads page to access accounting spreadsheets, templates and budgets. If you have any questions, are in the process of starting up an NFP, interested in becoming an NFP CoSec, feel free to contact me on LinkedIn. If it is of interest, join us for the NFP Governance Rendezvous, a free online event for NFP CEOs, Directors and CoSecs, or anyone aspiring to these positions; or just wanting to learn more about governance in the NFP space. Click here to learn more about upcoming Rendezvous. Right Source Empowering Your Purpose Is Ours.

Are you thinking of starting an enterprise here in Australia that has a social purpose? Perhaps starting a social enterprise is something you have in your long term business plan? Well, starting a social purpose enterprise is a little different to starting a nonprofit organisation and many people think they are one in the same. I want to use this episode to walk you through the differences and what that actually means for you as you start your enterprise. To be clear, this is not a social enterprise vs nonprofit in terms of which is better but rather which is better for you and your goals. Connect with me on LinkedIn or visit our website rightsource.com.au Visit the downloads page to access accounting spreadsheets, templates and budgets. If you have any questions, are in the process of starting up an NFP, interested in becoming an NFP CoSec, feel free to contact me on LinkedIn. If it is of interest, join us for the NFP Governance Rendezvous, a free online event for NFP CEOs, Directors and CoSecs, or anyone aspiring to these positions; or just wanting to learn more about governance in the NFP space. Click here to learn more about upcoming Rendezvous. Right Source Empowering Your Purpose Is Ours.

It’s a strange time right now in the business landscape and there are very few businesses that aren’t dealing with a business crisis. In this episode I am going to walk you through some tips around how your accountant can help with crisis management. This isn’t the time to shy away because you need business crisis management, it’s the time to have a chat with your accountant and perhaps come up with a crisis management plan. If you have a business affected by COVID-19 then please reach out so we can discuss the options available to you at this time. Connect with me on LinkedIn or visit our website rightsource.com.au Visit the downloads page to access accounting spreadsheets, templates and budgets. If you have any questions, are in the process of starting up an NFP, interested in becoming an NFP CoSec, feel free to contact me on LinkedIn. If it is of interest, join us for the NFP Governance Rendezvous, a free online event for NFP CEOs, Directors and CoSecs, or anyone aspiring to these positions; or just wanting to learn more about governance in the NFP space. Click here to learn more about upcoming Rendezvous. Right Source Empowering Your Purpose Is Ours.

We’ve officially moved into an interesting time here in Australia, as well as globally, where working from home and flexible working arrangements have been enforced. It’s not an easy task understanding how to facilitate flexible working arrangements in Australia and as we move back into the regular pace of work (when this is over) we will likely be faced with flexible work as an expectation. So how do we navigate that? Flexible working hours are one thing but there are also flexible working practices that we might not have even considered because we are yet to experience the challenges and adaptations that come with a flexible workforce. With flexible working conditions becoming the new norm, I’d like to help you navigate staff work flexibility by giving you some of my own flexible working examples as well as challenges we’ve faced or that I’ve seen play out for clients. I’d also like to extend my help for those of you who are finding this time challenging. If you need help with your accounting or even understanding what might be available to you through the government stimulus packages, or maybe you simply need some more remote working tips please reach out to me and we can work through it together. Connect with me on LinkedIn or visit our website rightsource.com.au Visit the downloads page to access accounting spreadsheets, templates and budgets. If you have any questions, are in the process of starting up an NFP, interested in becoming an NFP CoSec, feel free to contact me on LinkedIn. If it is of interest, join us for the NFP Governance Rendezvous, a free online event for NFP CEOs, Directors and CoSecs, or anyone aspiring to these positions; or just wanting to learn more about governance in the NFP space. Click here to learn more about upcoming Rendezvous. Right Source Empowering Your Purpose Is Ours.

When you begin to go down the rabbit hole of building a business in Australia there are so many questions involving the ‘how’. One of the biggest downfalls of that thinking is that we need a ‘how to start’ motivational speech just to get us off our couch and into action. If you want to know how to start a business you simply get it done. There isn’t a magic formula, you just start it. Just start now. Get up and do one thing to move you towards your goal. Stop procrastinating with the how. Stop procrastinating, motivation won’t find you when you’re idle. If you really want to stop procrastination in its tracks or stop procrastinating now then you get up, you step outside, you make a phone call, you build a website, you ask for a referral, you reach out, you cold call, you just. Do. something. To get it done. Motivation is a false idea that people look for to give them momentum but the truth is that motivation comes by doing. The joy that comes through doing creates momentum and instils motivation in you to get up and try again tomorrow. In this episode I give you a real life example of how this played out in my life and get yourself moving! Connect with me on LinkedIn or visit our website rightsource.com.au Visit the downloads page to access accounting spreadsheets, templates and budgets. If you have any questions, are in the process of starting up an NFP, interested in becoming an NFP CoSec, feel free to contact me on LinkedIn. If it is of interest, join us for the NFP Governance Rendezvous, a free online event for NFP CEOs, Directors and CoSecs, or anyone aspiring to these positions; or just wanting to learn more about governance in the NFP space. Click here to learn more about upcoming Rendezvous. Right Source Empowering Your Purpose Is Ours.

It’s an interesting question and I want to walk you through how to think about it in a way that positions you well for business. I want you to ask yourself, who do you want to be? Better still, who do you want to be today? If you want to win, if you want to be the best, listen to this episode on business mindset and start strong! Connect with me on LinkedIn or visit our website rightsource.com.au Visit the downloads page to access accounting spreadsheets, templates and budgets. If you have any questions, are in the process of starting up an NFP, interested in becoming an NFP CoSec, feel free to contact me on LinkedIn. If it is of interest, join us for the NFP Governance Rendezvous, a free online event for NFP CEOs, Directors and CoSecs, or anyone aspiring to these positions; or just wanting to learn more about governance in the NFP space. Click here to learn more about upcoming Rendezvous. Right Source Empowering Your Purpose Is Ours.

Now more than ever we need to be thinking about how we will emerge on the other side of a national crisis. In today’s episode I am going to give you a handful of tips on crisis management and what to do now that we are actually in need of business crisis management. This crisis management plan is for those of you who have had business affected by Covid-19 and any smaller internal crisis yet to emerge. Too often we don’t think of what we’d do in a crisis situation because we’ve never faced one so I want to help you navigate through as unscathed as possible. Remember, this too shall pass and if you need any help please reach out to us at Right Source. Connect with me on LinkedIn or visit our website rightsource.com.au Visit the downloads page to access accounting spreadsheets, templates and budgets. If you have any questions, are in the process of starting up an NFP, interested in becoming an NFP CoSec, feel free to contact me on LinkedIn. If it is of interest, join us for the NFP Governance Rendezvous, a free online event for NFP CEOs, Directors and CoSecs, or anyone aspiring to these positions; or just wanting to learn more about governance in the NFP space. Click here to learn more about upcoming Rendezvous. Right Source Empowering Your Purpose Is Ours.

Are you a leader of a company and tearing your hair out because building trust in the workplace is HARD?! You aren’t the only one! Building trust in teams isn’t easy but it also isn’t complicated! The good news is that a culture of trust is a top down initiative so the buck starts and stops with you. Learning how to build trust in teams is really you learning how to give trust TO your team. If you don’t give it to them, they cannot give it to their peers or those who report to them. Learning how to build trust at work and ultimately building successful teams simply takes time. You have to wait for them to have a myriad of situations in which they can process the trust they’ve been given and then do something with it. Leadership trust or trust given by the leader is of ultimate importance. You are their biggest champion. If your team develop a workplace culture of trust then essentially it frees you up to do other things within your role that perhaps require a little more of you. Building trust through committed leadership is one of the best ways for workplace trust to be built and team commitment to grow evident. So let me walk you through how to do this so that you are equipped to build trust with your employees! Connect with me on LinkedIn or visit our website rightsource.com.au Visit the downloads page to access accounting spreadsheets, templates and budgets. If you have any questions, are in the process of starting up an NFP, interested in becoming an NFP CoSec, feel free to contact me on LinkedIn. If it is of interest, join us for the NFP Governance Rendezvous, a free online event for NFP CEOs, Directors and CoSecs, or anyone aspiring to these positions; or just wanting to learn more about governance in the NFP space. Click here to learn more about upcoming Rendezvous. Right Source Empowering Your Purpose Is Ours.

Sometimes it can be difficult to put empathy and care about the fiscal needs of the business but today I want to talk to you about caring in business and how caring about employees makes for good business. It seems obvious right? That we should care about our business and our people within its four walls but empathy in business and more specifically, empathy in business leadership isn’t always present. Show of hands who has ever worked in a toxic environment? 🙋‍♂️ Unfortunately it’s all too common and really, it just makes for bad business. Otherwise known as 'tactical empathy' in business is such an excellent skill to hone because leadership creates the culture and to have an empathy workplace where everybody cares for and tries to understand one another is an environment worth working in (and working towards!) So join me today as I talk about how this plays out. Connect with me on LinkedIn or visit our website rightsource.com.au Visit the downloads page to access accounting spreadsheets, templates and budgets. If you have any questions, are in the process of starting up an NFP, interested in becoming an NFP CoSec, feel free to contact me on LinkedIn. If it is of interest, join us for the NFP Governance Rendezvous, a free online event for NFP CEOs, Directors and CoSecs, or anyone aspiring to these positions; or just wanting to learn more about governance in the NFP space. Click here to learn more about upcoming Rendezvous. Right Source Empowering Your Purpose Is Ours.

Internal fraud is a very real thing in business but unfortunately by the time you know anything about it, it’s too late. Preventing employee theft is possible though - but for you it can feel awkward. In this episode I look at employee theft and specifically employee theft prevention so that you know how to frame it in your mind when you’re putting measures in place. Employee theft in the workplace is something every business owner needs to know about. Employee theft signs are not always obvious so it’s important we put working parameters in place from the beginning to avoid these things. It’s a safeguard for both you and the employee. So if you want to know how to stop employees from stealing or you have an employee stealing money, then watch this to understand what to do. Connect with me on LinkedIn or visit our website rightsource.com.au Visit the downloads page to access accounting spreadsheets, templates and budgets. If you have any questions, are in the process of starting up an NFP, interested in becoming an NFP CoSec, feel free to contact me on LinkedIn. If it is of interest, join us for the NFP Governance Rendezvous, a free online event for NFP CEOs, Directors and CoSecs, or anyone aspiring to these positions; or just wanting to learn more about governance in the NFP space. Click here to learn more about upcoming Rendezvous. Right Source Empowering Your Purpose Is Ours.

Do you feel overwhelmed when you think about how to systemize your small business? You’re not alone! Figuring out your business procedure after business procedure and turning them into some type of documentation is a bit of an area a lot of business operators avoid. It’s not the most fun task but it IS important! Creating systems and processes for small business can be the difference between selling your business for the price you want and not selling it at all! When you create systems and processes, you essentially create a machine that can operate without you - which is what the buyer of your company will need and want. Not only that but if you can learn how to systemise your business, you begin to create a culture where it’s easier for new staff to learn how and why to do things without needing the input of a person every time (which costs you money!) Business systems are vital in the profitability of your business to pull yourself out of the famine and feast cycle and into something more sustainable, repeatable and therefore predictable. So, come along with me as I walk you through the process for creating small business systems and processes. Connect with me on LinkedIn or visit our website rightsource.com.au Visit the downloads page to access accounting spreadsheets, templates and budgets. If you have any questions, are in the process of starting up an NFP, interested in becoming an NFP CoSec, feel free to contact me on LinkedIn. If it is of interest, join us for the NFP Governance Rendezvous, a free online event for NFP CEOs, Directors and CoSecs, or anyone aspiring to these positions; or just wanting to learn more about governance in the NFP space. Click here to learn more about upcoming Rendezvous. Right Source Empowering Your Purpose Is Ours.

Are you an accountant or lawyer and want to give back but not sure where to start? Well, let me share a bit of my story in this video about how I became a company secretary for a non profit company in order to give back. Non profit governance is much like corporate governance (Australia) except that it doesn’t have all of the positions filled. For example, they often don’t have a CFO or an HR department and so the CEO themselves are carrying not only the responsibility of the organisation but also the weight - mostly alone. That’s where a company secretary executive can be of use, especially if you’re a lawyer or accountant. These are strong skill sets that nonprofits need in order to manage the organisation effectively and by you volunteering your time and experience you can give quite a lot of value while simultaneously sharing the load with the CEO. So, if you’re looking at how to give back with business skills, then this is a role you should consider! Your familiarity and corporate governance structure will make you an asset to any non profit. Connect with me on LinkedIn or visit our website rightsource.com.au Visit the downloads page to access accounting spreadsheets, templates and budgets. If you have any questions, are in the process of starting up an NFP, interested in becoming an NFP CoSec, feel free to contact me on LinkedIn. If it is of interest, join us for the NFP Governance Rendezvous, a free online event for NFP CEOs, Directors and CoSecs, or anyone aspiring to these positions; or just wanting to learn more about governance in the NFP space. Click here to learn more about upcoming Rendezvous. Right Source Empowering Your Purpose Is Ours.