Using a Company to Save Tax

Using a Company to Save Tax by Lee HadnumUsing a Company to Save Tax by Lee Hadnum is a very useful book. I didn’t find it a particularly easy book to read but it is crammed full of useful info on using a company to help you save tax. If you are starting up in business and are wondering whether to trade as a sole trader/partnership or a limited company then this could really help you make that decision. Come to think of it if you’ve been trading for a while already and want a refresher on what the best options are for you then this is a great book for you too.

The book contains lots of calculations demonstrating what the best tax situation would be. To be honest I ended up skimming over a lot of these as I found it difficult to follow them as I read along, however if I do find that I need to research some of this myself (rather than just asking our accountant) then it’s good to know that they are there to go back to and look at in more detail.

If nothing else, the book has made me aware of just how much I don’t know and how complicated tax issues are. Thank goodness for accountants who are there to understand these things for us! This is an area that I obviously don’t take to naturally and I did have to force myself to keep reading at times (luckily it’s a pretty short book at 110 pages) but I feel like a better person for finishing it. Yes, it’s not an easy read but it’s a highly valuable book for the information that it imparts.

Rating: ★★★★☆

Be your own best life coach

Be your own best life coach by Jackee HolderBe Your Own Best Life Coach by Jackee Holder is a book that challenges you to ‘take charge and live the life you always wanted’. It is broken down into 52 easily digestible steps, setting you tasks to help you work towards the life you want.

There’s no doubt that the author knows her stuff. However, maybe because I wasn’t following along with the activities, I didn’t find it to be the inspiring book that I hoped. As I say, I wasn’t following along so maybe if I was I would have been drawn into it more, but I didn’t get much of a buzz from it.

Even though each chapter included practical steps to help you look at things differently or discover something about yourself, I did feel like it was a bit disjointed. It felt like 52 completely individual steps rather than working through a process that built up throughout. But, as I said, I may not be the best person to judge as I was just reading it.

Not a complete no-no but if I was to start a program of changing my life I can think of books that I would turn to more readily.

Rating: ★★★☆☆

The New Rules of Marketing & PR

The News Rules of Marketing & PR by David Meerman ScottI had high hopes for The New Rules of Marketing and PR by David Meerman Scott. The book is about “how to use news releases, blogs, podcasting, viral marketing & online media to reach buyers directly”. I thought it was going to revolutionise my online marketing. I’ve managed to trawl my way through it and I feel … disappointed.

Why’s that then? Why aren’t I skipping off to my computer right now to market my business? (Oh yes, I’m already at my computer…) I’d say that the book is definitely food for thought. There’s no doubt that it helps you look at things with a fresh eye. But…

… I find myself left thinking “now what? now what do I do?”. Yes, it’s given me a lot of theory but nothing that I can really get my teeth into. I find books like that frustrating. It’s like I’ve asked a cook “how do I bake a cake?” and they’ve replied “in an oven, you can make chocolate cake, or carrot cake, or coffee cake, it’s great”, when what I really wanted to know is how much flour to use, how to compile the ingredients and how long to cook it for. Do you know what I mean?

So, I would say that if you’re interested in reading up on the theory of using the web to market your business then this could well be the book for you. But if you’re after a step-by-step guide to putting the theory into practice then you might not get so much from it.

Rating: ★★½☆☆

Brilliant Start-Up

Brilliant Start-Up by Caspian WoodsNow here’s a book to get your entrepreneurial juices flowing: Brilliant Start-Up: How to Set Up and Run a Brilliant Business by Caspian Woods. First published last year I was delighted to find it in the online catalogue of our library system and amazed to find a copy actually at our local library, so went skipping round to borrow it.

The book takes you through the stages of setting up and running a business. It is an inspiring mix of practical information and entertaining writing style. If you’re toying with the idea of setting up a business then this is definitely the book for you. Our business has been going for a few years now but even though some of the book was covering old ground I still found it an interesting read, so I would say that it’s not necessarily just for start-ups. It’s given me a new perspective on parts of our business and I’ve set myself some homework to follow up on some ideas.

The only criticism I would have is the bias towards sales rather than marketing as a whole. There’s a whole chapter which is basically on telesales way before the whole marketing concept is covered, which I found offputting. However, the author began the book with explaining that it would be opinionated and this is an example of that. I can see the point he’s trying to make, I just don’t necessarily agree with it.

My previous book review was, I said, not one for lifting your motivation. This book is exactly that - whether you’re thinking of starting up a business, are in the process of doing so, or (like me) have been running a business for a few years, this book could provide you with the inspiration that you need.

Rating: ★★★★½

Preparing a Winning Business Plan

Preparing a Winning Business Plan by Matthew RecordPreparing a Winning Business Plan: How to Win the Attention of Investors and Stakeholders by Matthew Record isn’t going to go on my list of ‘inspirational’ business books but it is crammed full of highly practical information. If you are about to go through the process of writing a business plan then you wouldn’t go far wrong in using this book as a guide. It’s not a read from cover-to-cover book, it’s a bit too dry for that, but it is a good choice for dipping into for specific information.

The book takes you step-by-step through the different sections of a business plan, explaining the information you need to compile and giving information about using resources. Each chapter also includes scenarios of different people setting up in business, which helps lift the dryness of the book a bit. However, I did feel that they could have been a bit more directly related to the subject matter of the chapter just covered to see how the advice could be practically applied.

The copy I have is the fourth edition, published in 2003, and it is therefore surprising that resources mentioned give postal addresses but not website details. If there is a more recent edition available I would hope that this has been rectified.

Overall a good information resource to have on your bookshelf but not a book to dip into when your motivation needs a lift.

Rating: ★★★½☆

Inspiring Women: how real women succeed in business

Inspiring Women: How Real Women Succeed in Business by Michelle RosenbergI’ve found myself having an interesting love/hate relationship with Inspiring Women: 25 Top Female Entrepreneurs Reveal How Real Women Succeed in Business by Michelle Rosenberg. It was on my Amazon wishlist so my brother bought me a copy for Christmas (thanks bro!). It’s a series of profiles of women behind successful businesses, talking about what they’ve achieved and how they have done it. I was keen to read it because I don’t know much about the actual people behind businesses and thought it might help me choose a role model/something to aspire to, particularly with it being specifically about women and me being a woman and all.

However, what I’m not and have no plans to be is a mother and what this book is screaming at me is that to be a ‘real woman succeeding in business’ I have to have the added challenge of raising a family and spending enough time with the kids etc. Don’t get me wrong, I’m full of admiration for women who do manage to do both, but that’s just not who I am. I find it hard enough getting a decent work/life balance as it is! But, my idea of reading about how women have succeeded in business is more about learning about their experiences running the business, not the children bit.

Overall I did find the book very interesting but I found the focus on being a mother increasingly frustrating and at some points (which I quickly talked myself out of) began to feel inadequate for my lack of offspring. Does everyone have to be introduced as ‘blah, mother of three’ - if it was a book about men in business that wouldn’t happen. It seemed that even the types of businesses covered were fluffy women-friendly ones - maternity clothes, baby food/toiletries, fashion, secretarial. Let’s face it I obviously don’t fit into the target audience for the book - if I was a mother thinking of setting up a business I’m sure I would find the book incredibly inspiring.

How about a book about women succeeding in male-dominated industries … like web design for example? They can be women with or without children, I don’t mind, just don’t make it all about the motherhood.

Rating: ★★☆☆☆

Keeping It Simple: Small Business Bookkeeping, Self-Assessment & VAT

Keeping It Simple: Small Business Bookkeeping, Self-Assessment & VAT by James SmithI never thought I’d find myself getting excited over a book about keeping accounts but James Smith’s Keeping It Simple: Small Business Bookkeeping, Self-Assessment & VAT is definitely a book to get excited about. Isn’t it funny how sometimes you find that exactly what you need lands on your lap at exactly the right moment? This is what has happened to me - this book is exactly what I was hoping the ‘Managing Your Finances’ course would be but sadly wasn’t. It explains in an incredibly easy to understand way the types of records you need to keep, how to fill out forms such as the Self-Assessment for self-employed, and makes tricky subjects such as VAT seem a lot less scary.

The first part of the book is mostly aimed at sole traders, though I still found the simple explanation of bookkeeping records extremely relevant to our business (which is a limited company). Then to make me even happier there is a section on ‘Accounting for Limited Companies’ which explains some of the additional records that a company needs to keep. I’ve never seen such a clear explanation of a director’s loan account! There is then a fairly extensive section on VAT with some excellent advice to help you decide whether you should register for VAT or not (it doesn’t just boil down to how much your turnover is). Finally, the book ends with some general advice on small business issues - accounting software, taking on an employee, and choosing a bookkeeper or accountant.

I suppose I should say that the book doesn’t cover absolutely everything, however it’s not setting out to. If it had it would have become overly complicated like a lot of other accounting books. Instead it sets out just enough to get you started and gives you pointers as to what else you may need to find out about. It is nice and clearly laid out, with lots of example spreadsheets and uses case studies to help explain different scenarios.

The book’s blurb starts with “This plain-English guide is essential reading for all small business owners” and I couldn’t agree more. I wish that I’d had a copy when I was first starting out, it would definitely have helped me get my accounts on a firm footing, but even a few years down the line it’s clarified some issues for me and given me an idea of how I can improve my accounts in a managing the business context rather than just essential records for tax purposes.

Rating: ★★★★★

Press Here! Managing the Media for Free Publicity

Press Here! Managing the Media for Free Publicity by Annie GurtonI discovered this gem in our local library service. It’s the 1998 edition that I got hold of so was a bit concerned that it may be a bit out of date, but aside from email maybe being used more predominantly for sending press releases (I don’t know, maybe journalists still prefer to receive them through the post, but I doubt it) it all sounded pretty spot on to me.

Press Here!: Managing the Media for Free Publicity by Annie Gurton takes you through the different aspects of dealing with journalists and the media to get publicity for your business. It is crammed full of practical advice and I now feel like I have a good grasp of the different ways we can use the media. Now I just need to form a PR campaign and get working on it!

I particularly liked the case studies at the end of each chapter. The author used three different scenarios - two businesses and one freelance journalist - and followed their stories throughout the book. Absolutely brilliant. They reinforced the advice given in a very accessible way, showing how it could be applied in a real situation. It was also very useful to get an insight into how a journalist thinks and the pressures they are under - somehow makes contacting journalists seem less daunting.

Definitely a book to refer to again when I’m ready to launch into some PR.

Rating: ★★★★½

Get into Bed with Google

Get into Bed with Google by Jon SmithThere’s nothing worse than somebody who knows a little bit about a subject but thinks they know a lot. Unfortunately this somebody with a little bit of knowledge has seen fit to write a book. Big mistake. I feel terribly sorry for all those people who have read this book and taken it all as fact. I don’t know what is annoying me more: the fact that he has actually got some of it right or the hideous inaccuracies that had me groaning.

The book is Get into Bed with Google by Jon Smith. I was really looking forward to reading it - it was published this year and is a British book, and (possibly more importantly) our library system had a copy. I ordered it to my local branch with a view to seeing if it was worth recommending to those of our clients who like to be more hands-on with their search engine optimisation. What a waste of 50p! The information is given in no apparent order, giving you no identifiable procedure to follow, and on the whole appears to be based on the author’s conjecture. That’s not to say that he gets it completely wrong - a lot of the techniques he suggests are based on sound reasoning. However, the book is absolutely littered with inaccuracies, which had me screaming at it.

What’s this nonsense about if you do a Google search you get ‘about 12 results per page’. Eh? Google displays 10 results per page by default and you couldn’t even change it to 12 if you wanted to. Couldn’t he even be bothered to count? I know that’s a minor detail but it is a book about Google!

My advice is to steer clear of this one unless you’ve got an SEO expert to hand to check your facts with.

Rating: ★☆☆☆☆

How to Talk to Anyone

How to Talk to Anyone by Leil LowndesHow to Talk to Anyone by Leil Lowndes is a book giving 92 tips to enhance your ability to talk to other people - particulary people you don’t know in a networking/social situation.

You know what it’s like when you go to a networking event and there are one or two there who seem to just breeze around the room, being greeted by loads of people they already know and talking to new people with ease? Wouldn’t you love to be just like that? I know I would, but instead I’m the one nervously standing in the door desperately looking around for a friendly face. Actually, I’m not as bad as I used to be, I’ve definitely got more confident but I would like to feel more comfortable with striking up a conversation with someone I’ve never met before.

One of my fears when it comes to networking is not knowing what to say when I meet someone for the first time. This book provides you with techniques for overcoming that - not just things to say, but the whole thing from how to enter a room and choose who to talk to, to how not to answer certain questions that might leave the other person at a loss as to how to respond. Great stuff! I can certainly see how I can do things differently. A lot of it is being more aware of how you are reacting to the situation.

I’ve got this one down as a book to dip into every now and then. I don’t think I’m going to be able to go out there and put all 92 tips into practice straight away, I’d never remember them all. So, I think the thing to do would be to try out one or two at a time and see how they help, gradually improving my networking and conversational skills.

Rating: ★★★★☆

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