You have done more in the last financial year than just survive, but it has been hard!

This is the time that we turn our attention to our year-end obligations – namely, preparing financial statements and preparing tax returns, and looking at how well (or otherwise) we have done for the year.

For many, the financial statements and tax returns that we prepare are a ‘historical document’. It is a look at the numbers ‘in the past’. But what it can be, is a roadmap to the future – the starting point to your next trek.

What do you have your sights set on for 2021/2022? How can we Go Beyond The Numbers to help you achieve it?

He described it as ‘being at Mt Everest base camp’, having got there under our own power.

Let’s unpack that and how this relates to what you do.

To get to base camp, there are a few options.

 You can fly in; 

 

 

In a business context, that choice could be:

•   Staying as is, managing and maintaining the business as it stands now, and managing it profitably without aiming for growth and expansion; “Keeping it ticking over and under control”; Perhaps achieving ‘the same result’ from less time, and less effort, and using the spare time for other chosen pursuits;
•    Doing ‘more of the same’ duplicating the business or expanding the volume of work done (without expanding services, products etc.) “Same but bigger”;
• Doing something new within the business; “Do we climb Everest, or K2?”
• Using the profits from the business to build an investment portfolio, pay down debts, etc.; “Let’s go climb Mont Blanc in Europe instead”;
• Learn new skills (personal or professional) that are unrelated to the business activity; “I’m done climbing. Let’s learn to fly instead.”
• Or you can work with others and help them build their careers. “Having done it myself, I will show you how to climb”.

The choice is yours. But it is not a choice that means you need to ‘start again’, nor is it something that you need to do ‘alone’.

At base camp, to climb the heights, the first thing you need to do is:

Hire the Sherpas!

The Sherpas are the experienced, local climbers who ‘know the mountain’. They carry the loads needed to support you on your mission, and the local knowledge and guide and support you to achieve your goal of summiting the peak.

In a business context, the Sherpas come in several forms. It is the team of advisers – accountants, lawyers, bank and finance support, coaches and mentors who work with you.

It is also the ‘tools of the trade’ (in the business and finance context) that we use to help you keep on track – and helping to ensure you don’t fall down a crevasse. Tools such as Xero, and add ons like Dext (for data collection) and cashflow tools to keep you on top of your financial information are part of this. Your systems and processes, the way you do the things you do. Your marketing, social media, etc.

And the setup and structure that you ‘wrap’ around your business – with all the statutory and regulatory requirements in place to keep your trek in line.

This is what we mean by ‘Go Beyond The Numbers’. We look at the results, ask questions, and work with you to achieve your next peak. We ‘assemble the sherpas’ and come on the trek with you. We help you mount the summit, and take pride as you stake your claim on the peak.

 As an example, amongst the projects we are assisting clients with are the following:

   a)  Redevelopment of a regional property into a multi-unit dwelling, to retain one and use the others to build an investment portfolio;

   b)  Analysis of a business for sale (and undertake stocktakes and financial lending arrangements) to enable a client to expand their existing business beyond its current regional spread;

   c)  Convert a client business from ‘sole trader’ to a corporate structure, to both reduce total tax payable and expand their opportunities to grow their business;

   d)  Rent or buy? A client wants to look at whether to buy a small property to run their business out of, compared to renting a facility; And assist with the bank’s information needs for this.

   e)  Using property investment to reduce the tax a client pays this year and build an investment portfolio for retirement for their future. (or to ensure that their kids have somewhere they can move into in the future!)

   f)   Manage my portfolio! Would you please help me keep track of my share purchases, sales, dividends etc.? Even Crypto if you can (and, yes, we can)

In all of the above cases, we are working with our clients, helping them to ‘lead the trek’. We “assemble the Sherpas”, be it professional advisers (finance brokers, share traders, lawyers, etc.) and tools of the trade – software, data, reports etc., to help to make things happen. The only limitations (besides legal issues!) are your imagination and desire to make things happen.

So, having got to base camp and realising you are breathing the clean, thin air of achievement, where do you want to go next? 

What is your Everest?

Name your peak, and let’s go! We can make 2021/22 the time of your next achievement, plan, take action, and make it happen.

What is it going to be? Call or email me, and let’s talk about it.

Onwards and upwards – and let’s Go Beyond The Numbers.

Stuart Smith

Director (and Head Guide)

Fiscal Artisans