My wife Thelma was looking for a new pair of walking boots.
She walked into a local shoe shop, where the assistants directed her to the right section, told her a little about the boots and then asked what size she was.
She ended up buying a couple of pairs, but although they weren’t cheap, they’ve never been comfortable, she doesn’t like them and doesn’t wear them.
Recently, she discovered a shop that sells nothing but hiking boots near my son Stuart’s home. The experience was completely different!
The owner spent a couple of hours with her. What this woman didn’t know about hiking boots was not worth knowing…
She thoroughly quizzed Thelma on the type of walking she does, how often she walks and what kinds of shoes she finds comfortable. Then she walked her through the different types of boots available, explaining why they were or weren’t suitable, fetching half-sizes and trying them on with different socks.
Thelma now has the best pair of walking boots known to mankind – or rather, the perfect fit for her. She loves them and uses them frequently.
So why was one shop able to provide a superior, personalised service – and the other couldn’t?
It comes down to the fact that the specialist shop took the time to understand Thelma’s needs in detail. The local shop had no chance of delivering the perfect shoe, because they had no idea what she was really looking for.
It’s the same with your financial management…
Last week, I started explaining why it was futile to complain that your accountant “wasn’t proactive enough.”
I explained that your accountant wasn’t paid to be proactive – they’re paid to do your taxes and produce your annual accounts…
But there’s another reason why it’s unreasonable to expect your accountant to deliver that level of service.
To be “proactive” means suggesting improvements to your financial management, helping you make better financial decisions, actively working on making you more profitable.
You can’t give that kind of advice and support without being intimately engaged with the business and understanding its needs inside-out.
For example, you’d have to get to grips with the company’s business model; its products or services; the market in which it operates; the company’s goals and the obstacles it faces; its cashflow; its structure… and that’s just for starters!
Your average accountant will turn up in your business once a year or once a quarter. It’s not that they’re being lazy – they are just not built to engage with your business on that intense level and gather all the information necessary to offer you proactive advice.
Our model is very different.
Because we’re here to improve your financial situation, we need to get to know you. That’s the foundation of our work together.
We spend time asking all those questions I outlined above, from your business model and products to learning your market.
We work on your accounts daily, as well as producing budgets, monthly management accounts, cashflow reports and so on. In fact, we speak to most of our clients on nearly a daily basis.
And we also work with you – the owner – closely, helping you understand your financial situation and talking through the decisions you need to make so you understand the financial implications.
All this gives us an unparalleled understanding of your business, your finances and your needs. And that’s precisely why we can support you with advice that is completely bespoke to your circumstances…
…Just like that specialist saleswoman could get Thelma the perfect-fit shoes, by taking the time to understand her walking habits.
So if you’re serious about wanting proactive financial management, don’t waste time trying to get your current accountant to offer a level of service that they are, likely, neither equipped for or paid to do.
Talk to us – because proactivity is our business model.
=== > Call us on 01279 647 447.
Warmly,
Garry
