What’s on your EOFY shopping list? 🛒
Things that should be on your radar this month 👀
- PwC is well and truly in the government’s bad books after being caught feeding their clients loopholes in tax policy that they themselves helped create, and it’s making the government rethink its relationships with private enterprises.
- Elon Musk is (once again) spouting an incredibly unpopular opinion: That work from home is “immoral” (🙄). We loved this opinion piece about why he’s wrong.
- Power prices are set to soar again in the coming months, and the peak body representing small businesses has warned this will put many businesses under significant strain.
- In great news for Paytron users: The Aussie payment platform has been acquired by industry giant OFX. They’ll still be operating as Paytron, and we’re looking forward to seeing what’s next for them with more resources at their disposal.
- FinTech Australia has developed this amazing interactive infographic that visualises Australia’s fintech ecosystem – it’s so encouraging to see this sector flourishing (and we’re looking forward to trying even more home-grown tech).
Tech recs that’ll make you want to sit at your desk
⌨️ DROP mechanical keyboard: If you haven't noticed the growing trend towards aesthetic mechanical keyboards: Congratulations, you’re a normal person (but you’re also missing out big time). This keyboard is the perfect gateway drug for anyone looking to level up their typing experience.
🖱️ Microsoft Surface Arc mouse: We’re obsessed with this mouse and can’t see ourselves using another any time soon – it’s ergonomic *and* functional (without looking like a spaceship).
🔋 ALTI desk mat: Putting down a desk mat is an easy way to make your workspace feel 10 x more comfortable and professional. We’ve been eyeing off this wireless-charging one for a little while now.
The highs 📈 and lows 📉 of small business life
📈 This month, we’ve been writing quite a few more proposals than usual. While balancing the time we spend on these with work for our current clients can be challenging, there’s something so invigorating about coming up with creative ideas for how we can service new businesses.
We pride ourselves on thinking outside the box, so having the freedom to develop creative solutions with prospective clients is a highlight of running our own business. Plus, who doesn’t love a few new clients on the books!
📉 While we love writing proposals, they definitely add to the number of plates we’ve got spinning each month. Juggling existing client work, new business proposals, new client onboarding, our own admin and more is a daunting task, and we’ve had to make sure we’ve got robust processes in place to allocate enough time to get everything done.
It’s taken quite a while to get our workflow processes to a comfortable place – spending time thinking about how you’re going to get work done (instead of just doing the work in front of you) is tough, and it requires a bit of discipline.
We’ve found that when we’ve got a lot on (like we did this month) we have to tweak how we’re working, which takes up valuable time. It’s worth it though, and gives us a framework for the next time we’ve got a lot on our plate.
Productivity hacks 👩💻
- We’re not huge fans of time tracking at work – if you’re meeting deadlines and feel like you’ve got a good work-life balance, who cares how long individual tasks take you? However, if there’s one thing we’d recommend actively allocating time for in your day it’s this: Procrastination.
It’s nearly impossible to lock in 7.5 hours of complete focus every day – our brains just aren't wired that way. While we’d usually put our noses up at regimenting your work breaks, the Pomodoro technique might be a great place to start if you’re struggling to incorporate downtime into your day.
A five-minute break is plenty of time for a quick chat, a cup of tea (or your stimulant of choice), or even just to doom-scroll LinkedIn for a while (@Project Alfred, thank us later). You’ll be surprised by how refreshed you can feel after just five minutes.
- This might seem obvious, but you’d be surprised how often we see businesses that don’t do this: Build 👏 an 👏 effective 👏 strategy.
A good strategy is the guiding light for all your business decisions. If you feel like you’re working yourself to the bone but seeing minimal business growth, you’re likely spending time on tasks that don’t align with your strategy.
Having a single source of truth to reference when making decisions not only makes the decision-making process easier, but also helps you articulate why something isn’t worth your time, energy or money.
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With the end of financial year fast approaching, we’re preparing ourselves for the question we get from friends, family and clients every June: “What can I buy to increase my tax deduction?”
Our answer? Only things you *actually* need. We know, it’s a boring answer, but too many business owners see EOFY as a chance to splurge. While the prospect of a hefty tax deduction is tempting, don’t forget that the money you’re spending isn’t free (a certain Schitt’s Creek scene comes to mind).
If you’ve got cash to spend: Don’t run out and buy an iPad you’ll never use. Instead, think about purchases that you could move forward to this financial year, or make an upfront investment in your team’s training and development. Just make sure your investments are considered and practical, never impulsive.
That's just our two pennies' worth.
- Liam and Amy, co-founders of Project Alfred
(changing the way people think about accounting)
Recent issues
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As their public dispute goes nuclear, we’re diving into the fistfight between Employment Hero and Hostplus. We'll also examine the trials and tribulations of Australian SMES grappling with payroll errors, uncover the truth behind cashback rewards, celebrate Australia’s first tech unicorn in two years, and examine some of the latest startups that have raised money this month.
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We look at Hatch, a Gen Z jobs marketplace that has secured $7 million in seed funding to expand nationally, using AI to match candidates with roles based on skills and values. Plus, discover how Taylor Swift's concert at the MCG broke Melbourne's internet, insights on gender pay gaps from the Workplace Gender Equality Agency, and the latest advancements in AI with OpenAI's new system, Sora, generating short videos from text prompts.
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We’ve started the year at break-neck speed, onboarding two exciting new clients, growing the Project Alfred team, getting frustrated at the Australian government’s proposed changes to sophisticated investors, reading about Atlassian’s WFH 1000 days progress and exploring new startup blogs.
In our final 2023 newsletter we look at when to pay attention to your brand, the resurgence of startup funding, rebates for Sydney startups looking for office space and some potential relief on the cost of living.
Liam is participating in Movember and raising money for Beyond Blue to support their efforts in mental health awareness and support. Every donation made on Liam’s fundraising page will be matched by Project Alfred - so if you can afford it, we’d love you to contribute. … And a reminder: every donation is tax deductible!
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Christmas is around the corner, so notify your staff about leave requirements if you’re shutting down. We dive into the Australian funding scene with Employment Hero's impressive cap raise, making them a double unicorn. Learn from a costly lesson about keeping receipts, discover the inspiring journey of Vegemite and find out why work created by AI can't be copyrighted.
How one business has monetised ‘the meeting that could’ve been an email’, a business that has pivoted its offering as a result of the higher cost of living, a significant payroll underpayment issue making the news and the first ‘real’ holiday Liam has taken since starting Project Alfred.
How Barbie & the Matilda's have sparked equal pay discussions, small business grants in QLD, how Australia harnesses students' entrepreneurial spirits, marketing tech we're using, and our August highlights as we celebrate our 2nd birthday.
What direct-to-consumer startups can learn from Barbie, the Twitter rebrand that’s left question marks over our heads, tech to make travelling for work a breeze, our tip for surviving the second half of the year, and much more.
Some good economic news (finally), the hot new website everyone is talking about (ours, obviously), tried and tested website tech we swear by, a list of 20 small business EOFY tax tips, and much more.
An excellent opinion piece about why work from home is a good thing for society (despite what Elon Musk thinks), a desk setup that’ll make your colleagues green with envy, the TLDR on the PwC tax scandal, some EOFY spending advice we know some people need to hear, and much more.
There’s been a spike in company insolvencies that the AFR is describing as a “zombie apocalypse”, advice from HR experts on how to promote work-life balance in your team, a Slack feature we don’t think gets enough airtime, a monitor stand we’re drooling over, and much more.
The TLDR on the banking drama and how it could affect your business, exciting AI tools to keep your eye on this year, the businesses where the UK’s four-day workweek trial didn’t work, our non-negotiables when flying for work, and more.
Apps to boost your sleep skills (these do more than just fix dark circles under your eyes), mindset shifts to stop you feeling like you’re burning both cash and energy, and how to get excited about the next quarter.
An important reminder about what AI can and can’t do for your business, more reasons you should go paperless (and a stack of great resources to show you how), a workday lunch tip to get you away from your desk, advice on setting effective goals for business growth, and much more.
Our thoughts on work-life balance, projections for the tech industry in 2023, some AI tools (or toys) to play with over the break, highs and lows of the year that was, and more.
Tips for making the most of December (T-minus 21 working days ‘til Christmas 🤯), a step-by-step guide to registering for your company director ID, one of our favourite tech recs of 2022, an important cause close to our hearts that we’d love you to support (scroll to the end to find out how), and more.
How to protect your business from cybercrime, apps to build a connection with your colleagues and customers, the science behind the perfect productivity playlist, and more
Three tech recs that’ll make your life 10x easier, the impact of late invoices on your cash flow, the pros and cons of going to a conference, a massive shout out to our community, and more.
The technology shaping Australia’s future, Slack shortcuts we can’t live without, and tech recs to help you share your knowledge online.
Tips for hiring in a tough labour market, an ominous shift in pricing strategy for subscription models, and tech recs to help you grow your team.
Some new economic policies coming in on July 1, tech recs to help you celebrate (or survive) EOFY, and some tips for cultivating a growth mindset next financial year.
Some tips to help you focus, proposed policies on the horizon after the election, the crash of a not-so-stable stablecoin, a big debate we had on LinkedIn, and some tech recs that anyone who’s into design will love.
Did ASIC actually just kill off 'finfluencing’, ideas for designing your perfect work week, tech recs to level up virtual meetings and a sneak peek into the tech stack we use here at Project Alfred!
Tech recs and productivity hacks to help hybrid workplaces get the best of both worlds, our thoughts on the latest Federal Budget hot off the press and an audio book we’re loving right now.
High Court rulings around being an employee or an independent contractor, funding for Covid-affected businesses, great news about mental health support for small business owners, some new favourite tech finds, the Super Bowl…and we’re hiring!
22 things you should do to help your business in 2022, what records you need to keep and what you can let go of in the new year, why eating a frog is the best way to start your day, and some of our highs and lows from the last month.
How to stay on the ATO’s nice list this Christmas, our how-to guide for director IDs, small business trends for 2022, how to work smarter not harder, and some of our own recent business highs and lows.