How to get the most value from your accountant!

Posted 15 Sep '20

When do you take time to work on your business instead of in your business?

Most days we are caught up in running our small business and organising life in general. Goals we set get pushed from one week to another and before we know it, another year has passed.

This is where Empire can help you with our accountability meetings.

The idea is to catch up on a regular basis to firstly establish goals and then guide you on your journey to achieve those goals, holding you accountable.

The accountability meeting is scheduled time you take to stop and think where you want your business to head in the future and how this vision can become a reality.

We also look back and identify some of your biggest struggles and how we can prevent or ease them in the future. We educate you around your figures to ensure you know where you are at in business and there are no surprises at the end of the year.

These catch ups are highly interdepended and individual to you, the stage you are at, and ultimately where you want to take your business!

We will answer your questions, provide advice and essentially act as your sounding board for decision making. We focus on the following areas:

Processes
– Which processes do you have in place?
– Is there a sales process?
– Follow up process for potential leads?
– How is your invoicing done?
– How are your debtors followed up?

People
– Should I hire someone additional?
– When is it time to get my first employee?
– Should I employ someone, or should they be contractors?
– What do I have to do when I employ someone?
– I have this issue with one of my employees what should I do?
– I am struggling with one of my employees, what can I do?

Workflow
– I am struggling to plan book in work for the next few months, what can I do?
– What type of work should you focus on?
– Which work should I focus on in the future?
– How much work do I have in the next quarter?

Marketing
– Why you might want to engage a marketing agency?
– Who is my ideal client?
– What type of marketing might be beneficial to me?
– What are my goals for marketing?

Finances
– I have a lot of work, but why is there no money in the bank account?
– I am constantly out of cash, why?
– What does my gross profit look like?
– How much should I quote for jobs?
– Which one of my expenses have gone up in the last quarter?
– How much do I roughly have to sell to break even?
– Why are my sales down?

And these are just a few examples!

Accountability meetings is like hiring a Personal Trainer. A PT ensures you stay on track and focus on your end goal, whilst educating you around the different areas that go into being fit. We all set ourselves amazing goals at the beginning of the year in relation to our fitness. Some have the self determination to go to the gym by themselves on a regular basis to work towards the goal. Most though struggle to keep going past February without a clear goal and someone that holds them accountable.

There is even research to back this up. If you set a goal and you write it down, you are 42% more likely to achieve it. If you are serious about the goal, get an accountability partner and your chance of reaching this goal has a chance of 95% to succeed.

If you feel like it is time for you to escape the procrastination loop, get serious and stay accountable to your goals in business, we’d love to help! Phone us today for a chat 07 3124 0244