…And What You Should Be Doing Instead.

Don’t get me wrong, we accountant’s love a good savings plan, but saving money is actually not going to have you swimming in cash like Scrooge McDuck.

Saving money is a good thing but it isn’t going to make you rich, and it’s possible that a poverty mindset could actually be holding you back.

If you’re not an expert at optimising your finances to set you up for future success, that’s totally ok! That’s our job - here’s how we’d want you to approach money making for your business.

Saving Money is Great - But It Shouldn’t be Your Focus.

Saving money is great but it shouldn’t be your focus, which is just as well considering this is something we millennials are famous for being bad at.

Avocado toast anyone? Yes please, sir.

We could talk about how the average price of a house has skyrocketed and how it’s not our fault, but that’s beside the point.

Pinching pennies is something that can consume people when taking a step back and looking for opportunities to MAKE MONEY is a much better use of your time. Instead of stressing about the cost of your takeaway coffee, think about how you could be making more money rather than sweating the small stuff.

A poverty mindset develops out of a need to survive, but we’re not here to just survive are we? We’re here to do much more than that.

What A Strategic Thinking Accountant Wants You To Think About.

We’re accountants who work specifically with business owners who want to grow and build something meaningful. We take your whole life situation into account when we plan with you for the financial future of your business, and the whole of your life.

Instead of desperately trying to survive, we want to see you thriving. We would love you to take a step back from the day to day running of your business, and really take a look at the big picture.

Here’s some questions you can ask yourself to get started.

How Can I Make More Money?

The question hiding beneath this is, “how do I make more sales?”. We’d approach this by considering the following -

Can I reach a larger market?
Where would I find a larger market and how can I connect with them?
**Am I pricing right, or am I discounting too much?** Look into what your competitors are charging. Depending on your product, you may be able to charge more per item - increasing your sales, by selling the same amount of product.

Where Are the Best Growth Opportunities for My Business?

Your gross profit numbers are a great place to take a look at what’s really happening for your business performance.

Use your gross profit to see where you are making the most money and consider how you can capitalise on this.

Are there growth opportunities you can pursue around those profitable lines?
Can you learn from what is working well and replicate this in other areas of the business?

Which leads us to the next question…

What Do People Actually Need That I Can Provide?

Stepping away from what you currently do within your business, look at your skills and the skills of those people within your team.

Knowing the skills you have access to allows you to consider what you do.

Can I expand my offering? Is there more that my current customers want? Perhaps there is a complimentary service you could offer to add to your current offering. If you’re in hospitality, perhaps a takeaway or supply opportunity could present itself. If you’re a builder, perhaps there is a way to make your offering more luxurious with add ons.
What problems are my ideal clients facing that I can solve?

Knowing what is within your capabilities and understanding your ideal client allows you to think about how you can provide solutions that people want to pay for.

Cancel Your Poverty Mindset & Stop Being Stingy

Buying something of quality might cost a bit more but it can save you money in the long run. Consider the car example.

If you buy a new car, with good reviews and a good reputation, you can reasonably expect it to last longer, require less maintenance and look good, which gives the impression that you’re doing well, right?

If you choose to buy an old car, high km’s, etc etc - you’re more likely to break down, require high costs of maintenance and it’ll be less fuel efficient. In the long run, your cheaper car could cost you more than a reasonably priced new car.

(Side story: When Andrew started Kindred Accounting he bought a new car - not a high end vehicle, but a nice looking, new car - because he knew if he kept driving the old 2010 Hyundai Getz about, it didn’t look as though he knew how to manage his finances - he needed to look the part of someone who knew how to manage their money, because he does.)

Saving money should be strategic - the longer term and the bigger picture is important.

We Partner With Business Owners, Building Businesses

If you’re a SME business owner struggling to navigate the financial aspects of your business, you’re not alone.

It’s totally normal to not be across all of the ins and outs of your accounting. You are the expert of your business, and we are the experts of the accounting stuff.

Don’t let financial uncertainty hold you back from reaching your goals.

We’re passionate about empowering creative business owners to make confident & informed money decisions.

Ditch the chaos & start navigating your numbers with us now.

Why Saving Money Isn’t Going to Make You Rich.