Moving away from your centre
Greg Sheehan (FCA)
Ex Nike and Air NZ. Co-founded Xero's largest accounting partner worldwide, then became their global accounting thought leader. Now reimagining small business accounting and commerce with Squeeze.
There are literally hundreds of millions of small businesses around the world. Aggregated together they could be considered the largest market in the world.
Each of these small businesses were started by people with passion. People who idealised over building their own enterprise. Something for which they had skills or a calling — maybe fixing motorcycles, building homes or running a restaurant.
Many of them (actually most of them) knew how to do what it is they “do”, but didn’t know the first thing about running a business. Enter the advisor.
As an accountant or bookkeeper you are considered to be THE number 1 advisor to small business. Given the personal nature of small business we all know that your advisor role quickly morphs into one of counsellor, confidant and guide. It’s a role of huge privilege.
It can also be thought of another way. It’s a point of connection into small business, a distribution channel if you will.
So let’s step back and think about that:
- The world’s largest market (SMB)
- Serviced by the most trusted channel into that market (Advisor)
And what do we generally do with it? A tax return!!
OK, I am being a little cheeky and provocative. I know many of you do much, much more than what it takes to ultimately file a tax return… But I want to encourage you to think far wider than the walls you’ve often held yourself in.
A small business needs help with most things. For example, how does a restaurant owner attract more customers, what happens when guests arrive, how are rosters managed, how is the food and beverage activity managed to deliver healthy margins, what happens at the point-of-sale? I could go on.
If there is one wish I have for the world of accountants and bookkeepers it’s that you take your trusted position and build new skills. It’s never been easier. Niche down into really understanding the wider commercial aspects of successful business. Watch your clients faces light up when you deliver them the freedom they were ultimately seeking in the first place.
You started in the world of numbers. It’s your DNA and the spine of your knowledge. And don’t get me wrong. That is an asset. It pays your bills. But leverage off it.
Be brave and venture away from the centre to new places of knowledge and expertise this year. You wont regret it.
Founder @ StockTrim, helping product businesses scale through optimized inventory
6yBig opportunity now is with all the data being spat out by software, is to create smart products that help SMBs make better choices and become more productive.
Money-Man, Musician, Maker - Founder at EBCFO LLC - Partnering with fractional CFOs to generate accounting and operational data that is accurate, timely, and relevant
7yI think this exact point opens the door for non-accountants to add huge value to accounting and finance firms. Us number people tend to get blinders, and forget that it's just a language - a way to communicate info - but doesn't necessarily lead to action. By marrying accounting, non-financial data points, and recommended next steps we can arrive at that true advisory position.
Mentoring/coaching accountants to build a better business. Founder of 2 accountancy businesses, author of 3 books, mother of 2 and a fan of the 25 hour week. Speaker, coach and award winning author
7yHave you been reading my mind? With today’s software recording the numbers almost takes care of itself and we can offer so much more to help clients.