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Improving your elevator pitch

Posted on October 26, 2015 by admin

An elevator pitch is the short description you can give about your business in the time it takes to ride an elevator. Your elevator pitch must be brief. It must say enough about what you do so people can easily understand and remember you. And, ideally, you want your elevator pitch to make a positive impression.

It is not easy to develop an elevator pitch. It takes quite a bit of thinking to decide which aspects of your business to mention. Even more frustrating, you have to decide which parts of your company to leave out. Often these can be the things you’re most excited about – a new technology, a great location, the fact you get to go to Europe on buying trips. But if they’re not central to the core of your business, then they don’t belong in an elevator pitch.

Your elevator pitch must not only be short, it must be clear. Unless you’re in a highly technical field, your neighbor or grandmother should be able to understand your business well enough to be able to describe it to someone else.

Your elevator pitch should touch – very briefly – on the products or services you sell, what market you serve, and your competitive advantage. It is often a good idea to use an analogy as part of your elevator pitch, especially if you’re in a new or difficult-to-grasp field. If you’re in an easy-to-understand business, your elevator pitch theoretically could be very short. But you still want it long enough to distinguish you from your competitors.

So go out and find a four-story building with an elevator, ride up and down and practice your “elevator pitch.” That way you’ll be completely prepared the next time someone asks you, “What do you do?”

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When do you have to pay tax on shares?

Posted on February 20, 2020 by admin

Investing in shares is a popular method of growing your wealth, however, there are tax obligations you need to be aware of to get an accurate sense of how much you’ll need to put aside for your investments.

When you own shares, you need to declare all your dividend income on your tax return. It is possible to claim tax deductions for certain expenses you pay to receive income from your shares. The deductions you are eligible for will depend on if you are carrying on a business of share trading or if you are an individual share investor, but they can include:

Individual share investors cannot claim a deduction for the cost of acquiring shares, such as costs for brokerage and stamp duty, however, they can claim deductions on the prepayment of expenses related to the shares such as internet fees or seminars.

Buying and selling shares can involve capital gains tax (CGT), depending on whether you make a capital gain or a capital loss on your shares. Your capital gains or loss is the difference between the price you paid for the shares and the price you sell them for. If you end up selling your shares for more than you paid for them, then you make a capital gain which may be taxed.

How much CGT you need to pay varies depending on:

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