Over the last month I have been travelling around Australia, from Brisbane to the Gold Coast, Melbourne to Sydney and even Cambodia with First Class Accounts, the ABN and AAT Associations! Why have I been doing this to myself? Because I believe in the bookkeeping industry and I love to meet with, educate and help the partners around Australia to realise their potential.
The common theme of these conferences is that the industry is changing. Helping bookkeeping practices to grow, develop and stay ahead of the changes by providing the support and tools to do this.
Hard hitting messages were shared. Wayne Schmidt from Addon Success stated that data entry, the main form of income for some, is ‘dead'. Another reminded attendees that the industry is evolving and if practices don't look at how to change they will be left behind.
So what can you do to stay ahead of these changes? Whether you are a sole trading BAS agent or bookkeeping practice with staff, I believe the answer lies in the business goals. Is your goal to stay status quo, or do you want to evolve into a modern bookkeeping/consulting business, where not only your business grows but also your client base?
Technology is here to stay and you can either bury your head in the sand and wake up in 5 years wondering where your business has gone, or grasp the opportunity and empower your business to grow and flourish.
How can this change be implemented? By taking the time to look at the business, clients, goals. Do you have a business plan? Do you need to free up time to implement goals, perhaps by letting specific clients go? Can you implement systems to streamline business?
If businesses don't stop, reflect, look forward and set goals, then it will be business as usual and that is dangerous for anyone, for any business.
So I challenge you. Stop business as usual. Talk to peers, get a mentor, a business plan, write out the goals and where you see the industry and your business going over the next five years. Work out what it is you need to focus on.
Times are changing, now is the time to be ahead of that change!
I would love to hear your thoughts, please feel free to email partners@receipt-bank.com