5 Tips for Being in Business for 5 Years!
Our top business rules that will help you stay successful...
Accountable bookkeeping has turned 5 this month. What a ride this has been - some good, some interesting. Like any business, we also had times where things have not gone smoothly. We have had major highs, like winning the “Emerging bookkeeper of the year 2017” and becoming a Silver Partner with Xero, attending Xero Con twice, being a member of the Institute Certified Bookkeepers New Zealand for coming up 5 years and attending each conference. Even writing this list of a few things, it’s great to see what we have done over the last 5 years.
As I sit here and think of the Top 5 tips for being in business for 5 years that I would offer a new business owner, I struggle to think of only 5...but here goes...
Tip 1:- Ask for help.
This is probably the hardest thing to do! Yes, I admit it, but when you say, “I need help,” the help comes. That is if you ask the right people to help you. When you start a business don’t ask on Facebook how to structure your business. Everyone has views but talk to an accountant as they will understand your personal needs and what suits you and your business. Asking for help may cost money but receiving the right information can be cheaper in the long term. Do you need help around the house – employ a cleaner? Do you need someone to watch the kids a few afternoons a week? It can be a small ask for help or a large one. Just ask for help!
Ask the right people for help, not Facebook
Tip 2:- Surround yourself with the right people. We want people around us that are positive, honestly supportive, and truthful. I am a true believer this is both business and personal. I am lucky to have the most supportive husband, kids, my parents, my in-laws, and close friends that will always help with the kids, help as a sounding board for my questions, ideas, and issues. Look for the right business mentor, and remember you don’t have to take the first one you meet – that goes for any professional you meet. Also, look at your staff. Are they right for you? Do they match you and your values and ethics? This also applies to clients and customers. Why would we have clients that we dread when they ring us or come to see us? Those are not positive clients to have within our business or our lives.
Positive people positive mind
Tip 3:- Behind the scenes. This is what the clients and customers may not see. When you start in business you can only see tomorrow or the day after that. You need to take time to look at the long term plan, where do you want to be? You also need to look at the setup of the business - have you got the right accounting package in place? Yes, a spreadsheet is cheap but does it give you accurate up-to-date information on your business? The dining room table may be easy for now, but long-term, you will want to be able to walk away from your work? How are you going to manage and store information? Write up a list of where you want to be in 5 years! Yes, I still have mine I wrote when I started my business. I love looking at what I wanted to achieve and what I have done and why I haven't done the others.
Set things up how you want them to be in 2 years!
Tip 4:- Balance work and life. There is no simple way of doing this, but we all must find a balance. What suits me might not suit you. We love spending days as a family riding motorbikes and we plan weekends away with the kids (ok and sometimes we leave them behind). Having something else to look forward to is so important. You can focus your time on what you need to do. Take breaks, go to assembly with the kids, go for daily work. This also includes no answering emails after hours, or if I am doing something with the kids after school, I will not answer the call from a client. I will call them back shortly.
Take time for yourself and your family
Tip 5:- Education. Upskill, Upskill, and Upskill. I am a strong believer in this. Attend conferences within your industry, attend open days and network. Learn new things within your business (and at the end of the day your personal life as well) push your boundaries and try something. I am not a big writer, but I have done the “Blog your socks off” course through The Helpful Academy. Blogging has nothing to do with being a bookkeeper, but this pushes me out of my comfort zone, big time! Over the years I have completed my diploma in Accounting and to maintain my Xero Certification I am required to attend webinars with Xero. Take time to upskill, set yourself a budget to allow yourself to be able to upskill in life, and you never know where it might take you.
Set the time to learn something new
We would love to hear what you are going to put in place to help your business get to the 5-year mark! Flick us an email at Jessica@acbk.co.nz and let us know.
As I sit here and think of the Top 5 tips for being in business for 5 years that I would offer a new business owner, I struggle to think of only 5...but here goes...
Tip 1:- Ask for help.
This is probably the hardest thing to do! Yes, I admit it, but when you say, “I need help,” the help comes. That is if you ask the right people to help you. When you start a business don’t ask on Facebook how to structure your business. Everyone has views but talk to an accountant as they will understand your personal needs and what suits you and your business. Asking for help may cost money but receiving the right information can be cheaper in the long term. Do you need help around the house – employ a cleaner? Do you need someone to watch the kids a few afternoons a week? It can be a small ask for help or a large one. Just ask for help!
Ask the right people for help, not Facebook
Tip 2:- Surround yourself with the right people. We want people around us that are positive, honestly supportive, and truthful. I am a true believer this is both business and personal. I am lucky to have the most supportive husband, kids, my parents, my in-laws, and close friends that will always help with the kids, help as a sounding board for my questions, ideas, and issues. Look for the right business mentor, and remember you don’t have to take the first one you meet – that goes for any professional you meet. Also, look at your staff. Are they right for you? Do they match you and your values and ethics? This also applies to clients and customers. Why would we have clients that we dread when they ring us or come to see us? Those are not positive clients to have within our business or our lives.
Positive people positive mind
Tip 3:- Behind the scenes. This is what the clients and customers may not see. When you start in business you can only see tomorrow or the day after that. You need to take time to look at the long term plan, where do you want to be? You also need to look at the setup of the business - have you got the right accounting package in place? Yes, a spreadsheet is cheap but does it give you accurate up-to-date information on your business? The dining room table may be easy for now, but long-term, you will want to be able to walk away from your work? How are you going to manage and store information? Write up a list of where you want to be in 5 years! Yes, I still have mine I wrote when I started my business. I love looking at what I wanted to achieve and what I have done and why I haven't done the others.
Set things up how you want them to be in 2 years!
Tip 4:- Balance work and life. There is no simple way of doing this, but we all must find a balance. What suits me might not suit you. We love spending days as a family riding motorbikes and we plan weekends away with the kids (ok and sometimes we leave them behind). Having something else to look forward to is so important. You can focus your time on what you need to do. Take breaks, go to assembly with the kids, go for daily work. This also includes no answering emails after hours, or if I am doing something with the kids after school, I will not answer the call from a client. I will call them back shortly.
Take time for yourself and your family
Tip 5:- Education. Upskill, Upskill, and Upskill. I am a strong believer in this. Attend conferences within your industry, attend open days and network. Learn new things within your business (and at the end of the day your personal life as well) push your boundaries and try something. I am not a big writer, but I have done the “Blog your socks off” course through The Helpful Academy. Blogging has nothing to do with being a bookkeeper, but this pushes me out of my comfort zone, big time! Over the years I have completed my diploma in Accounting and to maintain my Xero Certification I am required to attend webinars with Xero. Take time to upskill, set yourself a budget to allow yourself to be able to upskill in life, and you never know where it might take you.
Set the time to learn something new
We would love to hear what you are going to put in place to help your business get to the 5-year mark! Flick us an email at Jessica@acbk.co.nz and let us know.