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From Abacus to Automagical

4 Sep 2016 6:00 AM - Setting yourself up for Business Success

Ok Small Business Owner – this is for you. I have a tendency for being as subtle as a brick trough a plate glass window, so I am going to call it like it is. 


Running a business is hard. You work odd hours. You work long hours. Often you are up late at night crunching the numbers or you are up early getting stuff ready for the day. In a lot of cases it's both. So what ends up happening? Your life takes second place to your business. I know. I have been there. A number of times.


As small business people, we are entrepreneurs, we take risks (in most cases calculated) and occasionally we blaze new paths. We know the majority of us will not be the next Richard Branson or Mark Zuckerberg or Rod Drury. But we look up to them as idols and for inspiration. Most of us strive to provide a good service, offer value for money, do the right thing, create something new and unique or special to make our and other peoples lives better. I believe very few of us start a small business just to make money.


It’s a tough challenging juggling act – from managing products, services, suppliers, contractors, distribution, logistics, premises, staff, clients, compliance, legislation, marketing, advertising, investment, borrowings, the bank, and that’s without even considering family or personal time. Add to this that according to the Australian Bureau of Statistics  more than 60% of small businesses cease operating within the first three years. These are daunting figures. So let’s consider how we make you and your small business a statistical anomaly.


With more than 25 years in the small business sector, I find there are two key tools that set you up to achieve business success.


First – Your Support Team

The sad thing is a substantial number of small business people look at bookkeepers and the services they provide as an unnecessary evil. A requirement for compliance. An expense. Let’s face it why would you hand over hard earned cash to a bookkeeper and accountant when at the end all they do is tell you how much tax to pay. Seriously it’s a bitch. 


Yet, I’ve seen time and time again, the difference that a bookkeeper can make to those entrepreneurs who embrace the services of a bookkeeper as a key member of their success team. They look at them as valuable advisors who can manage the back office and help them achieve their goals and profit targets. These are the ones you read about in the paper and hear about in social media. They are the ones that understand it takes a team to build a serious business.


Second - Modern Technology

The funny thing is digital disruption has being happening for some time, we just have not used it or taken full advantage of it. There are many that fear it. Automated data entry in today's world is considered normal. It's not science fiction. It’s now. It’s what we call “Automagical”. 


As Andy Lark sums it up to accountants and bookkeepers attending Xerocon, the world’s most beautiful and innovative conference for leaders in cloud accounting, “You need to help your clients navigate change. They cannot afford to be complacent, because the early adopters eat the late.”


As an entrepreneur, if you are planning to stay in business, and strive for profit and success, no matter what form that is for you, you need to embrace change. You need to embrace technology. You need to build a trusted team that understands and accepts the power of change and technology. We are way past the Abacus. It is ripe time for you to embrace Automagical.


So if you’re worrying about your business, get in touch with the support team at Business Boost Centre. With many years of real world business experience and continuing investment in embracing technology and innovation they are the people you want on your side.


About Don Grgic Serial entrepreneur with failures and successes. Technology and science geek, often the early adopter. Visionary, strategist and tactician. He is a sucker for a good red wine. In vino veritas. Don’s latest venture is BookBOOST.