Step 10 of Building a Better Business

Anna Stubbs • August 2, 2023

Keep your ‘well of happiness’

This should be something you focus on all the time. Just as the flight attendants tell you to put the oxygen mask on yourself before helping others, it’s the same in business - you need to look after yourself at all times.

What are the things that fill your ‘well of happiness’?

These are activities that restore your energy and resilience levels and help you face challenges in your business. It could be dancing, yoga, mountain biking, reading, weightlifting, cooking, or meeting friends for coffee. Most likely, they’re the things you just don’t feel you have enough time for right now.


Of course, you do have the time; you have the same number of hours in your day as Einstein or Helen Keller had. You’re just choosing not to spend your time on these activities.


Make a list of the pastimes that make you happy. These are things you keep putting off doing because you think you don’t have time or feel guilty about taking time out of your business to enjoy.


Now, make a commitment to yourself to spend at least 1 hour per day doing these things. Share that commitment with your business mentor or someone who’ll hold you accountable to spending your time in this way.


Lastly, set aside time in your diary to do these activities until they become an ingrained habit.


Keeping your well of happiness full reduces stress and restores your energy, both crucial to life and business success. So, make it a priority.


“Life is short. Smile while you still have teeth.” - Mallory Hopkins

Making Tax Digital to be extended to more sole traders and landlords

By Anna Stubbs • April 9, 2025
Hiding in the HM Revenue & Customs (HMRC) announcements published on 26 March was a technical note entitled ‘Modernising the tax system through Making Tax Digital‘. This note announces that the income threshold for Making Tax Digital for Income Tax & Self Assessment (or MTD for ITSA) is to drop to £20,000 per annum for sole traders and landlords. If you fall into this category, this means moving your tax completely over to digital by April 2026. But don’t worry, let’s see what MTD for ITSA is all about.

Reducing the uncertainty: financial forecasting and planning

By Anna Stubbs • April 9, 2025
Uncertainty can be a major threat to your strategic financial planning. Being unsure of what lies around the corner makes it difficult to make those important financial decisions around operational budgets, investment and growth funding. But by using forecasting and scenario-planning, you make it easier to manage your finances and reduce some of the financial uncertainty.

What's new in Xero (Spring 2025)

By Anna Stubbs • April 9, 2025
Some great new enhancements have come to Xero in the first few months of the year, here's some important features that have been released: Enhancements to the new invoicing Keyboard shortcuts. Drag and drop attachments. Date Picker quick select. Exchange rate adjustments in the invoice. Tracking categories for invoices. Automated bill entry The ability to upload bills directly to Xero, create one or many bills by dragging and dropping multiple files. Xero creates draft bills with the key details, and the original document is attached. Other important features (region dependent) Bank feed updates (Australia adds Suncorp Bank, United States gains PNC Commercial). Simplified whole operations with improved sales orders (United States). Easier 1099 reporting and filing (United States). Streamlined tax workflow and compliance (United Kingdom). Easier reporting (United States Schedule C compliance report, New Zealand not-for-profit tier 3 & 4 PBE reports). For the full breakdown read Xero's update .