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About Lincoln Sharp

Growth, Profit, Cashflow, Risk Management, Succession. These are five keys things your Accountant should be assisting you with on a regular basis. Helping my clients in these areas is what lights my fire. Oh, and I can help with the Compliance stuff too!

How to write effective emails

Hi there,

OK.  Anyone who knows me knows how “particular” I am about grammar, spelling etc.  I received this article from Stephen Lynch at Results.com which beautifully identified how an email should be put together.  Enjoy.
 

How to write effective emails
Stephen Lynch

The number of software tools we have for communication and collaboration is expanding all the time – but the trusty old email is going to be with us for a while yet.  

In 2010 (depending on which research you look at) approximately 300 billion emails got sent every day, and the average business leader now receives 100+ emails per day. 

Thankfully, email tools are becoming available to help us filter and prioritize the deluge of information that comes into our world.  These filtering tools will make it even more important for business leaders to improve the effectiveness of their email communication – that is, if you want to cut through and get your emails noticed:  

Clarify your intentions.

Before you even begin typing, think about the specific action you want the reader to take. Finish this sentence: “When the reader has finished reading my email they will……”

Summarize your topic in the subject line.

People receiving 100+ emails per day scan the subject line of every email to decide how soon to open, and whether or not to file or delete your message. If your subject line is vague you have already blown your first opportunity to move to the head of the queue.

Also, it is highly frustrating to have to wade through lists of emails, and re-read the content just to find the particular one you are searching for.  Do us all a favor, and take the time to write a decent subject line explaining the key thrust of your email in the first place.

Identify yourself clearly.

If you are introducing yourself to someone for the first time, always include your name, company, and any other identification information in the first few sentences.  Then provide the context for why you are writing to them.

Start with the conclusion.

As a general rule, always start with the key point you want to make in your opening sentence – and then elaborate on this point in the following sentences.

One topic per email.

If you have a number of points to make, you could number your points to ensure they are all read.  In this case, you should state that your email contains multiple points in your opening sentence.

However, it is usually better to split your key points into separate emails so your reader can respond, file, or delete each email individually.  You goal should be to keep every email short and to the point.  

Consider the reading device.

Many emails are read on mobile devices these days.  Do they really want to download and open the large attachment you have sent?  Do they really want to have to click on links and wait while the web pages load?  Do us all a favor, and summarize the key points of any attachment or link into the text of the actual email.

Stay classy.

When you are writing to a friend or a close colleague, it may be OK to use “smilies” and abbreviations.  If you are writing your email on a mobile device, typing is more cumbersome, and it can be very tempting to abbreviate and be more abrupt than you normally would be with a full size keyboard.  Resist this temptation.  Without realizing it, you can come across as being rude or overly familiar.  Unless you are drinking buddies, always err on the safe side and keep your emails friendly but professional.     

Email signature.

Add an automatic email signature with your company branding and standard contact information.  Make it easy for someone to add you to straight into their contacts folder and/or enter your details into a CRM without creating a whole lot of extra research on their part.  And does anyone really care about your screeds of legal disclaimers?

Measure twice, cut once.

Double check that you are sending the email to the right person. Always use a spell check and proof read before sending.  If it is a marketing email, always get someone else to proof read it and sign it off.  When you are too close to a project you can easily miss some glaring errors.  First impressions count.  

Never write an email in anger.

Draft something out to clarify your thoughts if need be – but don’t send it.  Just like diamonds, emails are forever.  Sleep on it. You will be glad you did – because things always look different tomorrow.  I repeat – sleep on it, and then re-craft your email the following day.  You will thank me for this.

Look on the bright side..

Hi there I’m cheating this week. I get daily emails from the great Brian Tracy. Brian is a Sales/Marketing/Personal Development Guru who I would thoroughly recommend (see http://www.briantracyintl.com). The following is a recent email I received that I thought was mighty applicable given the circumstances many of us feel we are in, economically or personally. Please enjoy.

Look on the Bright Side
By Brian Tracy

The most important application of the law of cause and effect in your life is this: thoughts are causes, and conditions are effects. What this means is that your thought is creative. You create your world by the way you think. Nothing in your world has any meaning except for the meaning you give by how you think about it and talk about it. If you don’t care about something, it has no effect on your emotions and actions.

How to be Happy
Many thousands of people have been interviewed over the years to find out what they think about most of the time. Can you guess what the most successful and happy people think about all day long? The answer is simple. Happy healthy people think about what they want, and how to get it, most of the time. When you think and talk about what you want, and how to get it, you feel happier and in greater control of your life.

How to be Unhappy
What do unhappy people think and talk about most of the time? Unfortunately, they think and talk about things they don’t want. They think and talk about their problems and pains, and the people they don’t like. Sometimes, their whole lives revolve around their complaints and criticisms. And the more they think and talk about what they don’t want, the unhappier they become.

The Most Important Quality
Based on many psychological tests, the happiest people seem to have a special quality that enables them to live a better life than average. Can you guess what it is? It is the quality of optimism! The best news about optimism is that it is a learnable quality. You can learn to be a more positive, confident, and optimistic person by thinking the way optimists do—most of the time.

Look for the Good
Optimists seem to have different ways of dealing with the world that set them apart from the average. First, as we mentioned, they keep their minds on what they want, and keep looking for ways to get it. They are clear about their goals and they are confident that they will accomplish them, sooner or later. Second, optimists look for the good in every problem or difficulty. When things go wrong, as they often do, they say, “That’s good!” and then set about finding something positive about the situation.

Seek the Valuable Lesson
The third quality of optimists is that they seek the valuable lesson in every setback or reversal. Rather than getting upset and blaming someone else for what has happened, they take control over their emotions by saying, “What can I learn from this experience?” Fully 95% of everything you do is determined by your habits, good or bad. When you repeatedly look for the good and seek the valuable lesson in every obstacle or disappointment, you very soon develop the habit of thinking like an optimist. As a result, you feel happier, healthier, and more in control of your world.

The Body-Mind Connection
More and more doctors are coming to the conclusion that 80% or more of all diseases and ailments are psychosomatic in origin. This means that “psycho,” the mind, makes “soma,” the body, sick. You do not get sick from what you are eating, but from what is eating you.

Action Exercise
Resolve from now on to see your glass of life half full rather than half empty. Give thanks for your many blessings in life rather than worrying or complaining about the things you do not have. Assume the best of intentions on the part of everyone around you.

A new approach to manufacturing

 

Had a very interesting evening listening to Tim Groser, our Minister of Trade, on Friday. The setting was Bracu, and with Branka Simunovich also in attendance, we were spoiled with attention, food, not to mention some samples from their skin care range (very handy for Mothers Day on Sunday!).

Tim is obviously a very busy man, having come off a flight that morning that started in Europe, with events thrown in with great regularity. However, he had kindly taken time out from what is clearly a hectic schedule to give a very personal account of his views of policy, international trade and NZ politics in general. While all of the content was fascinating, and Tim is clearly a comfortable orator, the “revelation” comment for me came around manufacturing.

As someone who studied economics at University, I saw manufacturing as a game where you produce first or faster/leaner/cheaper/smarter than the competition with products that had mass (and therefore the largest market) appeal. Demand being greater than supply meant better prices, greater profits, better returns for investors. Size and production capabilities was therefore paramount. Our distance from larger markets (mass appeal), our more expensive labour structure (look at what the ipad production line staff get paid for a 10 hour day), our lack of heavy machinery and accessible mineral resources all made me think we had to either:

  • Rely on agriculture/horticulture products as our principle export.
  • Rely on tourism or services to for local employment.
  • Become a service orientated economy.

However, Tim Groser gave four clear examples that showed how limited my thinking was. We can still be a manufacturing economy (in fact we have to be), we just need to ensure we don’t approach it using the historical model. All four examples were clear on why they were successful:

  • Specialist, almost insanely niche markets.
  • Mass production was not the focus, targeted production was (specific to the end users requirement).
  • Utilisation of local people with incredible “smarts”.
  • Partnerships with foreign interests to finance the operation, and/or provide channels through which to distribute.

There were even some businesses at the event who ticked the above boxes, proof that this model is becoming more of a reality all the time.
It certainly makes me think differently when I hear the word Manufacturing.

Till next time.

Lincoln

Friday night drinks anyone?

Another month almost over, the first of the 2012 financial year. Every last Friday of the month we have “formal” work drinks (the informals happen most Fridays) for staff to kick back and have a couple of quiets to mull the week/month over and talk about something other than work.
When I started work out of university, the Friday drinks were one of the highlights of my fortnight (Gosling Chapman had them fortnightly), where you would have a few and then consider a night out on the town with your colleagues. But is this culture, which I would have thought quite common, is changing?
With people increasingly becoming more time-poor, are these casual Friday night events becoming a thing of the past?

We have 57 staff at Campbell Tyson Cooper White, but only managed to rumble up 10 staff to our drinks. We have some staff who don’t work Friday’s, work part time, have Friday night sport (mainly kids of staff, Friday night sport being a relatively new development), but is the Friday night drinks still relevant?
With Twitter, Facebook, 4 out of 5 couples meeting on-line (in the US), Friday night “demands”, more varied and complex social circles, are work place drinks losing their attraction and relevance? Or do the Friday night drinks needs to evolve? Do they need more than the “nuts and crisps”, the “get together and talk stuff”?
Do they need to have better food, a specific reason for being there, time off work?
This blog is more of a question mark than a statement, so have your say and tell me whether you think Friday drinks are still relevant or what they needs to have to be relevant to you.

Till next time.
Lincoln

Easter eggs and much more!

It’s been a busy time at CTCW.  We have had a Director retire,  a Director appointed, 2 staff do an Ironman, had numerous staff charity bake (there is a Pie competition coming up in May),  we’ve had 6 graduates join us, and we have moved to dual screens for all staff.

Aside from client work, I’ve been involved in a training programme run by the Icehouse (www.theicehouse.co.nz). The ICEHOUSE is a business growth centre that includes business growth programmes for SMEs,  a business incubator for start-ups and New Zealand’s largest group of Angel Investors. 
It is a collaborative partnership between The University of Auckland Business School, The Boston Consulting Group, Telecom and Gen-i, BNZ, Ernst & Young, HP, and Microsoft.  
It was established in 2001 in recognition of the importance of SMEs to the New Zealand economy.
The programme I am doing is a five month owner-manager course with 23 other SMEs.  During the programme we have a full and frank assessment of our business models while examining growth strategies. Thrown in to the mix is some fascinating presentations from previous course attendees,  knowledgeable academics,  and market place specialists.
The other course attendees are interesting in their own right, with a broad range of industries,  ranging from Fuel Stations,  Marine Engineers,  Boat Builders,  Light/Heavy Engineers,  Foodies,  Exporters,  Builders,  Lock Smiths, and more.
The most exciting aspect of the course is the positivity and enthusiasm of the attendees.  While they are all aware of the state of the economy and the difficulties many businesses are facing,  they are all energetically surging ahead.

We had an intriguing trip to Dad’s Pies in Silverdale, as a field trip (www.dadspies.co.nz). 
A big thanks to Eddie, Kevin and Phil who gave us a tour of their plant which produces my favourite food;  Pies!
They have started exporting around world, after making big in-roads in to the New Zealand Pie Market, conservatively put at 120million (yes, that is 120!) pies each year.  They supply to BP, which certainly helps their numbers. 
They produce, with the exception of pies containing bacon,  halal certified pies which certainly came in handy for an export order to Dubai for the Rugby 7’s tournament there  earlier in the year. 
Eddie started off with a small bakery at Red Beach and has now built up a very impressive business through hard work, application, and a good team.  
A classic example of an amazing kiwi business that is chasing its potential and succeeding.
Till next time…
Lincoln

Not just lip service..

    Accountants are fortunate for the position they fill in their clients business. The compliance (think annual accounts and tax returns) work rolls around with a seasonal regularity, and we have had Governments keen to keep the playing field an evolving one. However, the assistance that clients receive, especially the compliance work, is becoming increasingly commoditised with many smaller firms staking their place through price. Without getting in to the usual arguments around you get what you pay for, we should look closer at why clients are increasingly willing to move their “preferred advisor”. Value added services is a phrase Accountants roll out on a regular basis, but I believe that this is only part of what clients want. Clients want to be valued. They don’t want lip service or someone who is reactive to their needs. They want someone who cares so much about their business that the Accountant will contact them before things go sour. Increasingly in the service industry we want/need providers who anticipate our needs. We don’t want those nasty surprises popping up when we are paying someone to take care of things for us. This is not unique to accountants and indeed spreads across all services such as IT, Human Resources, Law and Operations Management. As service providers we need to constantly be challenging ourselves to deliver a better service, one that is personal, enthusiastic and inquisitive. We need to look to the future and ensure that the services we provide are outcome focused rather than just another delivered commodity. And we should expect our clients to be demanding this.

Cheers

Lincoln

Changes in our turning World.

1 October has come and gone and the World is still turning. Personally, I haven’t noticed the 2.5% increases in price. But then, the increases haven’t been across the board. Some retailers and other businesses have elected to carry the increase themselves, or are saving an increase for a more appropriate time. And given the wildly fluctuating prices of recent times, its hard to know if changes for some are just price movements or tax changes!

Most of you will have experienced by now the income tax changes with more in your pay packet. This is the perk of the budget changes.

Another change that is becoming clearer are those being undertaken in respect of Loss Attributing Qualifying Companies (LAQC). There are sweeping changes that will have a potentially significant impact on NZ’s famous rental property industry. LAQCs will, from 1 April 2011, no longer be able to allocate losses to their shareholders. There are solutions, but it is vital that you contact your Accountant/Tax Advisor to discuss options and solutions.

Our staff are all well versed with the many changes the Government have introduced. They will be more than happy to discuss any questions you might have. They too are experiencing some big changes, but I’ll cover this in my next blog.

Till then…..

Lincoln

Off the Radar

Accountants call it the silly season.  We’re in the middle of the busiest part of the year for Accountants.  Our clients have ordinarily got all their information together and are itching to know what the tax result was for the last year.  Its a trick to manage it so that clients are getting the information when they need it, but from experience I find that the best approach is to have up-to-date management systems that present the information to the decsion makers without waiting on an Accountant to put it together. 

There are some wonderful packages available out there now, like Xero (www.xero.com – a personal favourite), Banklink (www.banklink.co.nz – great, low cost cash flow management tool that covers GST to), Saasu (www.saasu.co.nz – Xero on steriods) as well as the good old MYOB (www.myob.co.nz).  One package I think is losing ground is Quickbooks (www.quicken.co.nz).  One of the more complex shrinkwrap options, their recent response to the GST changes has been rather poor.  Unless you want to bring your version up to the latest, you’re not supported at the 15% GST rate.  This lack of options strikes me as somewhat “don’t care” and heavy handed.  All of the other packages I have mentioned have rushed to find working solutions across the board.  Plus no word on a Saas solution, which appears to be where the other packages are all heading.

We’re running courses on GST changes and some of the other fun tax changes the Government bundled in to their 20 May 2010 budget.  Our next one is a breakfast function on 15 September 2010 at the Racetrack in Pukekohe.  Make sure you know what you need to do before 1 October rolls around.  Your financial well-being may depend on it!

Till next time.

Lincoln

Barking Mad!

Anyone who knows me will know that I am a passionate supporter of Greyhound as Pets.  This is a charitable organisation that receives, assesses (for suitability with cats and kids), desexes, vaccinates, microchips and rehomes ex racing and unwanted greyhounds.  The charity’s prime source of cash funding is from Greyhound Racing New Zealand, who levies trainers and contributes a portion of this cash to the Greyhound Rehoming Programme. 

Greyhound Racing undertakes this support as it was is responsible for the creation of the charitable trust in order to find a home for these wonderful animals once their racing careers have finished.  Prior to Greyhound as Pets being established, the majority of unwanted dogs were euthanised (not an uncommon occurrence in the horse racing industry).  Greyhound as Pets provides an alternative to trainers and breeders who have an ethical issue with the euthanasia route.   

 On the 3 June a race meet was held at Manukau, where the proceeds from the races being sold to sponsoring organisations were to be paid directly to Greyhounds as Pets.  There was also talk of this becoming a regular event which would contribute over $2,000 a year to the greyhound adoption programme.  

An individual has decided to attack this event, by providing a template letter/email to lambast and abuse those companies and businesses that assisted in sponsoring the event.  This has resulted in the main organiser and the businesses that supported the event pulling out from all future events, as they have been bombarded with correspondence from small minded individuals who don’t understand what Greyhound as Pets is trying to achieve.

The actions of this individual, his cohorts and the position that they are taking is tantamount to abusing the SPCA for encouraging people to dispose of their animals.

This individual’s argument that greyhounds are injured and killed in racing is sufficient reason to ban all greyhound racing and their associated activities.  While injuries and fatalities do occur, they are in the extreme minority.  Greyhounds love to race (being an owner of two and foster of one, I should know!), and injuries in any high speed sport are a possibility (just look at motor sport, winter olympics, flying, etc).  This individual’s view just simply isn’t sustainable.  And sadly, the comments and postings of this individual on the public forum have resulted in the loss of many thousands of dollars, and it heartening of the hundreds of people who contribute actively to the adoption programme.  

That is the end of my bleat about the greyhound issue.  I wanted to highlight the power of e-media and its ability to convey good and bad things targeted and unexpected markets.  It pays to think clearly before putting anything out there in the public forum!   Have a great week and I look forward to catching up with you later.  

Lincoln

Mixing Business and Pleasure!

I have just got back from a trip around the state of Victoria.  Hired a Camper Van for the first time and travelled with Lynda and the two kids on a circuit round Great Ocean Road, the Grampians, and back to Melbourne through Bendigo.  It is a beautiful part of Australia and the family have really enjoyed the trip.  We were fortunate to tag this on at the start of a trip for a conference in Melbourne as part of Campbell Tyson Cooper White membership with NZCA.   NZCA is an affiliation to which we belong where like minded accountants can share ideas, strategies, and knowledge in a casual and relaxed environment.  The Melbourne seminar is focussing on networking strategies and techniques, something most accountants ordinarily struggle with!

CTCW is the principal sponsor of the Business and Innovation Expo that was planned to be held on the 7 May.  While there has been incredible interest and early involvement from many organisations in the Franklin district (as well as some outside of the district), there is also many businesses who expressed their difficulties with preparing exhibitions for the 7 May date on which the event was planned to be held.  In order to ensure that the maximum participation possible can be achieved, we have made the difficult decision to postpone the event until an as yet undecided future date.  This new date will be set after consultation with interested parties to ensure that they have additional time to prepare their exhibitions as well as incorporate the cost of the event into their marketing budget.  With the difficult recessionary times, CTCW fully understands the difficulties of funding and staffing expo events and as part of our commitment to the community we are seeking to enable as much participation as possible with our clients and their related business community.

If any of you would like to consider putting in an exhibition at the Expo, or are keen to register your interest to attend, please do not hesitate to contact either our reception or Niru at Enterprise Franklin Development Trust.

Have a great week.

Lincoln