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- How The Cloud and Automation Make Business Management Easier
- Avoiding the Wealth Creation Con Artists
- Why Business Owners Should Think Like Futurists
- Buying Property? Why You Should Care About Interest Rates
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- 4 reasons to consider refinancing your home loan
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- Does your super fund provide enough life insurance cover?
- HIFX - INTERNATIONAL PAYMENT EXPERTLY DONE
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- Carry forward your unused Concessional Contributions
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- COVID-19 and Estate Planning – Your Will
- ATO is Auditing Rental Property Expense Claims
- JobKeeper 2.0 – Extension 1 and Extension 2
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- REMINDERS! LAND TAX REGISTRATION and DEED OF VARIATION
- 2020-21 Federal Budget – Update
- UPDATING SMSF TRUST DEEDS
- SMSF - $1.6 MILLION TRANSFER BALANCE CAP
- CONTRACTOR vs. EMPLOYEE – EMPLOYER OBLIGATIONS
- FBT
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- CRYPTOCURRENCY
- Using your Equity to Lower your Rate AND to Invest
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- Bookkeeper Service – Why does your business need it?
- AUDIT INSURANCE – ATO Increasing Audit Activity in the Areas of Income Tax and Supe
- 5 Everyday Examples of IPA in Practice
- Deed of Variation – NSW Surcharge Land Tax
- Deed of Variation – NSW Surcharge Land Tax
- Is Your SMSF Investment Strategy Compliant?
- GST on Property Transactions has changed from 1 July
- INVESTMENT LOANS – IS IT WORTH TAKING OUT PRINCIPAL + INTEREST at 3.89% RATE*?
- GLOBAL TALENT SCHEME – Get the expertise your company needs…
- Business Intelligence (BI) in Small Business
- It’s started – Single Touch Payroll (STP)
- CAR LOAN – HERE’S AN OFFER
- Should you pay principal + interest on your investment property?
- Over 65? Downsize your home to contribute to your super!
- NEW Skilling Australians Fund (SAF) Levy
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- Did you know YML Group offers CFO Services?
- JobKeeper 2.0 – Extension 2 Commencing Soon
- NSW State Budget 2020-21 – Economic Stimulus Packages
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- Superannuation Guarantee Amnesty – Self-Correct your past Super Guarantee Liability
- Non-Residents and SMSFs – Tax Alert!
- Managing your Money through this Crisis!
- Proposed Partner Visa Changes – NEW Two-Step Process
- YML Insight – Special Edition COVID-19
- Divorce Order – Self-Managed Superannuation Funds (SMSF
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- Should I ‘fix’ my home loan?
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- Working with Remote Staff – Business Process Outsourcing
- HR in the Australian Hospitality Sector – Specialist Service Available
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- Australian Director Identification Number (DIN) – Introduction
- Refinance and get up to $4k bonus OR renegotiate with your current lender?
- JOBKEEPER INCENTIVE – ENROLMENT REQUIRED 30/04/20
- GOVERNMENT INCENTIVES UPDATE
- Taxable Payments – New Compliance for Couriers and Cleaners
- Superannuation Guarantee Amnesty 2020
- Government announces Changes to the Working Holiday Maker Programme
- NEWS! CGT Main Residence Exemption to End for Foreign Residents
- EOFY Removal of Main Residence CGT Exemption for Non-residents
- YML Insight July 2015
- Economic Stimulus Package Updates
- BUY / SELL Insurance – What is it and how can it help your business?
- YML Insight August 2015
- Working from home: What deductions can you claim?
- COVID-19 – Rent Moratorium + Financial Support
- Applying For A Mortgage Is No ‘Walk in the Park’
- MyGov – What is it and how do you apply?
- SMSF – Would it suit you?
- Economic Stimulus Package – Small Business Grants
- Small Business Instant Asset Write-Off : NOW up to $25,000
- POWER BI - BUSINESS DATA TOOL
- Employees : Time and Attendance Platforms
- COVID-19 – Travel Bans and Exemptions
- COVID-19 – Workers Compensation and JobKeeper
- Funding to help small businesses re-open after COVID-19
- Digital Automation supporting Remote Work
- The Importance of Estate Planning
- Buying Property through your SMSF
- FBT 2019 – What’s new?
- Tax Time Checklist for Individuals
- Single Touch Payroll – NOW Mandatory for ALL Businesses
- Economic Stimulus Package Updates
- Should I leave my savings in the offset or in the redraw?
- Tax Planning and Restructuring to suit your Business
- Federal Budget 2019 – Immigration to Australia NEWS
- NOW is the time to consider your Year-End Super Contributions
- Federal Budget May 2016 - Superannuation and Social Security
- Federal Budget 2014-15 Update
- Federal Election 2019 Outcome – What it means for you
- STP – COMPULSORY Cloud-based Payroll Reporting
- AI and RPA changing the Future of Work
- SuperStream Deadline for Small Employers
- Superannuation Year End Considerations Continue!
- YML Insight February 2015
- Happy NEW Financial Year – ATO Changes Update
- Economic Stimulus Package Updates – JobKeeper 2.1
- Does your SMSF have an investment strategy?
- Business Process Outsourcing (BPO) – Remote / Offshore
- YML Insight March 2015
- General Outsourcing Services provided by YML
- How to get on top of your finances post COVID-19
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- RPA
- FAMILY TRUST DEED VARIATION
- ENCOURAGING NEWS FOR Permanent residency (pr) APPLICANTS
- WORK RELATED CAR EXPENSES - WHAT'S LEGAL?
- WHAT IS THE BEST WAY TO PAY OFF YOUR DEBTS?
- Business Protection Insurance
- Aiming to Make a Final Non Concessional Superannuation Contribution for 2016? Be Careful!
- Getting Organized and Planning Effectively This EOFY
- New Withholding for Non Residents
- Four Per Cent Stamp Duty Surcharge for Overseas Investors Buying Residential Real Estate in NSW
- Co-Sourcing: An Alternative To Out-Sourcing
- What Small Business Expenses Can You Claim?
- Israeli Tax of Trusts
- New Superannuation Rules
- YML Group App - Coming Soon
- Obtaining a Business Skills Visa
- Quick Tips to Pay Off Your Mortgage Sooner
- FBT on Christmas Gifts and Tax Deductibility of Christmas Parties
- Changes to the Assets Test for Centrelink Aged Pensions from January 1st 2017
- Why You Should Consider Co-Sourcing for your Business
- Is It Worth Fixing Your Loan?
- Co- Sourcing
- Shareholder's Agreements
- Tax
Why Business Owners Should Think Like Futurists
Innovation in technology is happening at a rapid rate, and there’s no doubt that it is leading to shifts in the way we live from day-to-day. These shifts are only going to happen more quickly in the coming years, bringing in changes in consumer behaviour, and changes to the products and services that people want and need. In order to take advantage of these changes, business owners need to think like futurists, and be ready to adapt.
So what exactly is a futurist?
Broadly speaking, futurists analyse current trends, and based on that, make predictions for the future. The idea behind thinking like a futurist is to understand, get ready for and capitalise on coming changes.
Looking down the barrel of change
There’s no doubt that change will be exponential over the coming years. We’re already seeing the impact of innovative technology in 3D printers, and services like car-sharing company Uber that have turned traditional industries on their head.
Thinking ahead, consider how driverless vehicles might impact on the transport industry. The construction industry is another one where change will be significant – new building materials, and changes in the way housing estates and commercial buildings are powered.
Futurists watching the healthcare space give us fantastic clues to how it could look a few years from now. Futurist Jim Carroll foresees technology functioning as a “dashboard for the human body.” Gene therapy, artificial organs produced by 3D printers, regenerating cells, tissue, or organs, and so on all seem possible.
We’re likely to see huge strides in wearable tech, and gains in artificial intelligence and autonomous robots.
What is certain is that there will be plenty of opportunities for forward thinking entrepreneurs to get in on the ground floor with new products and services.
Business owners must be ready for change
Well known futurist Craig Rispin says that in order to succeed in the marketplace, business owners need to “know first, be first, and profit first.”
In order for business owners to think like futurists he says they should:
- Think long term – it’s necessary to look 10 and 20 years into the future rather than focusing on the short term.
- Think global rather than local.
- Consider more than one future – there can be multiple outcomes or possibilities.
- Gather information widely – not just from familiar sources or from within one industry. It’s important to look to what’s happening in a wide cross-section of industries when considering what the future might hold.
Look to the future, but keep one eye on the now
Finally, it’s important to analyse current trends in order to not only make predictions about the future, but also to capitalise on them now. There are many new technologies that are proving to be a boon for SME owners. For example, moving business operations like accounting to the cloud is a current trend that has yet to reach its full potential. The cloud offers many business benefits, such as the ability to automate and streamline processes, and time and cost savings. So why not consider switching to cloud accountants in Sydney? After all, you can’t be a futurist if you’re already lagging behind!