Welcome back and we sincerely wish you all the best for 2016.
This is the time of year we all get busy writing our business plans and setting new goals. If there is one simple and sound piece of advice we offer you this year, is to stop trying to do it all yourself. The key for small and big players is to collaborate with, learn from and work alongside other professionals.
We’re all experts in our own areas and tapping into your professional network arms you with vital insights and the tools to get all areas of the business humming; from financials to sales. Not only is it good for your business, it’s also paramount to the economic development in our local community.
If we can all do well, just think how that will stimulate the economy of our local community?
Liken business to our mighty heroes the All Blacks. Known for their winning prowess around the world, how do they keep on top? It comes down to each player on the team understanding their individual role and adding that strength to the team. Basically, they don’t try and win on their own; it’s impossible anyway. We believe by sharing knowledge and sharing “equipment” is an important part of success.
Have you heard of the Japanese term “ikigai’? It means your reason to get up in the morning – your purpose. The diagram that goes with it incorporates these main components:
- That which you love = passion & mission
- That which you are good at = passion & profession
- That which you can be paid for = profession & vocation
- That which the world needs = mission & vocation
As accountants our profession and passion means we can specialise in different areas of business and accounting that allows our profession to cross over into our passion and that is to help others succeed in business. If you’re a classic business DIY’er, are you giving yourself enough time in your business to work on these components?
Some of the barriers that business DIY’ers have identified that are difficult for them to give up are issues around:
- Cost – will this blow my budget and can I afford not doing it all?
- Lack of control – how do I know what’s going on if I’m not in complete control? Who can I trust? Where do I start?
- Ego – it’s a little devil sitting on all of our shoulders
If it’s your year to “eat that elephant” and call in help, remember the best way to eat an elephant is one bite at a time. Service providers, and we’re the same, have a wide range of cost effective and efficient services that can be offered piece meal or in fixed priced packages.
Sumpter Baughen offer a free initial business consultation and there are many tips and new ideas that can be gained over a cup of coffee and a muffin. Take full advantage of what’s on offer, because if you’re not asking questions; don’t expect to learn anything new this year.
We strongly advise you to network and consult with the huge variety of fellow business people who can give you access to a wide variety of expertise and knowledge. For your business to be sustainable, that is for it to last, you need economic prosperity, you need good governance and you need to understand the impact of social equity. Mix all those together and your old ways of going it alone will be a thing of the past. Need to stay in the business loop? Talk to Sumpter Baughen for our valuable input.