Are you READY to IGNITE your business?

Do you rely on out-dated historical costs accounts for your decision making? If you do, you are fighting a losing battle. You need to use real-time business metrics to assess your business performance. Changes to strategies need to be made quickly and you cannot do that if you rely on annual financials. Financials by itself does not tell the full story.

Sadly, most accountants are trained only to “save costs” when the business is in trouble. Yes, you must save on costs. But that is only one part of the equation. Most accountants will review your figures and all they can tell you is, for example, your wages bill is up by 5%. To ignite your business, you need to delve into the figures behind the figures. If you focus only on the dollar value, you are missing the other indicators you should be looking at.

Accountants are not trained in business development or marketing and do not usually have an entrepreneurial mindset. Accountants are trained to be detailed and technical. They need to understand tax law and they are trained to help you minimise your tax bill. Is it therefore not surprising that the typical accountant’s approach to reviewing your business is to look at the historical figures and do a comparison with the previous year. Comments are then usually based on the differences between the two years.

My questions to you is – Since when does the previous year result dictate your current year result?

Exponential growth, where we grow sales AND profits AND business value is possible – if you THINK DIFFERENTLY. DO DIFFERENTLY.  Don’t be limited by your own limitations.  Last year’s results do NOT determine this year’s potential. It will ONLY IF you continue doing the same thing. There is a well known saying “Insanity is doing the same thing and expecting a different results.” As Napolean Hill said ” Whatever the mind can conceive and believe, it can achieve.”