Showing posts with the label Shelze Consulting

Asset Replacement

After my university hustle days which I have attempted to chronicle here , I started an accounting practice in 2013 and needless to say, very few of the computers, furniture etc I acquired at the start are still in good working condition. The harsh reality is that nothing lasts forever. Not even your favorite macbook pro which you used to launch your digital marketing agency. 😃 The challenge with most business assets is that they lose value (depreciate) over time. When this happens, they eventually get to a state where they are no longer in usable state. Thus, there is a need to repair, overhaul or replace. If one does not manage this very well, the capital outlay required to replace this assets might be as significant as what was required at startup if not more. I have seen many businesses who have made good returns only to die or start operating poorly because their assets stopped functioning optimally and they couldn't replace them. A couple of ideas: 1. Have

Startups and Maternity Leave

A female colleague at my startup recently informed me about her wedding plans later in the year. After congratulating her and assuring her of my commitment to attend, the costs of this news began to dawn on me. As the business leader, I am responsible for the financial management of the firm and so I deal with costs everyday. Aside from the cost of buying her a befitting wedding gift, I began to think long-term about the other costs. Her upcoming wedding means approximately nine months from that time, we are likely to expect her to turn in a request for maternity leave. Now this is where things get tricky. Asides the fact that a key member of our team would be away for a long time, this maternity leave is also a paid leave. With startups, policies get formulated along the way. They are never all in place from day one. We did not have a maternity leave policy so we needed one! I must confess, the thought of one of my staff members needing maternity leave never crossed my mind