[New] ‘None Of This Adds Up’

A client who had recently separated from their partner had a successful side hustle that needed to quickly become their sole source of income. Their Xero had long shown losses that didn’t actually exist, which they were aware of. These errors had always been addressed by their accountant when it came time to submit reports to the ATO. HOWEVER, those corrections had never been explained and applied back ‘up stream’ to the client’s records.

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Jarvis, Better Business Decisions ➸

In the process of optimising their side hustle for self reliance, they needed to approach the bank for a loan. Except, their records were a mess. Their business looked like a failure (which it wasn’t).

And the bills were stacking up. Fast

Thankfully, the client found their way to me and we were able to set their records straight for the benefit of securing the funds required. But my golly gosh (*use your imagination for what I ACTUALLY mean*) imagine how much lower the stress levels would have been if the financial data was tidy, accurate and ready to go immediately?

Another client came to me searching for answers, with financial records that also didn’t make sense. In the process of digging deep, investigating and reviewing recent decisions made, it came to light that the business had been subtly hijacked, by a new administrative assistant, who had then become a romantic partner.

A firm understanding of the flow of money in and out of the business - and how it is categorised, in a way that you can easily interpret - can save you from being blind sided by your own support people.

As a high functioning, creative entrepreneur, it’s very easy for those with ulterior motives to work their way into your confidence. From there, they affect your decision making, erode your certainty of your financial know-how, and pull your business offtrack.

At the very least, well intentioned but undertrained or inept staff can drop the ball. At worst, your entire business can be derailed by another’s self-interest.

Don’t get caught in the blind delegation trap because your numbers seem too hard to get your head around (or you think they are someone else’s job). Trust me: getting screwed over is worse.