It’s one year to the day since I launched CRC Accountancy. And what a year it’s been!
When you’ve got your head down, focussed on moving forward, it’s easy to forget where you once were. With that in mind, I thought now would be a great time to look back at what I’ve learned over these first twelve months.
Never underestimate your back office team
Throughout my career, I’ve been fortunate to work for organisations with a well-oiled back office team. Not that I necessarily realised it at the time.
A well-oiled team helps every part of the organisation operate smoothly and effectively.
Only now that I’ve become wholly responsible for my admin have I realised, and fully appreciated, the work that these ‘behind the scenes’ teams have done for us. A well-oiled team helps every part of the organisation operate smoothly and effectively.
So never underestimate the work they do. And buy them some cake from time to time.
Say ‘No’
I’ve been fortunate that more clients/work than I expected has presented itself to me in this first year – so much so, that I’m already recruiting.
However, I haven’t accepted everything that I’ve been presented with.
Do the jobs you want to do, like your clients, and keep happy in the process.
There has been pieces of work offered which didn’t fit with the overall firm which I’m trying to build. In these cases, the stress/distraction presented by these ‘poor fit’ jobs would not have helped the firm overall, and would have taken away from what I’m able to do for my ‘good fit’ clients.
Do the jobs you want to do, like your clients, and keep happy in the process. Give those clients the best service they deserve.
Sometimes it pays to say ‘No’.
Give yourself time
It’s easy to think ‘ach, this’ll only take 30 minutes’.
It might not. What happens then?
Reductions in stress-levels are worth their weight in gold.
Life’s too short to set yourself unachievable deadlines, bringing additional, preventable, stress with them. I’m guilty of this. Always have been.
Since I started working on my own, I’ve gained a greater appreciation for the time tasks take to complete, and have started to be more realistic with myself. I'm inherintly ambitious, meaning that I’m still guilty of stretching myself too far from time to time, but I’m working at it.
Reductions in stress-levels are worth their weight in gold.
Plan, plan, plan
“Measure twice, cut once.” A principal normally associated with practical trades.
The principal also very much applies to accountancy, or more specifically, to tax planning.
Not necessarily a new principal to me this year, but something which I strive to work by.
Many areas of tax are black and white. Others are slightly more grey. When carrying out any planning work, it pays to ensure every base is covered. The devil is always in the detail.
Making a plan 'bulletproof' is the aim of the game. Fail to do that, and you only serve to do your clients an injustice, and end up giving HMRC a bigger carrot during their investigations.
Understand. Plan. Enact.
Enjoy the journey!
Some things beat expectations. Others maybe have some catching up to do. Whatever the situation, enjoy the journey for what it is.
I've made sure to celebrate the wins - take them when you get them!
I've learned from mistakes, without feeling the need to dwell on them. They are an important part of the journey too.
Whatever the situation, enjoy the journey for what it is.
Right now, I'm grateful to everyone who has played a part in CRC so far. My mind never ceases to turn over with ideas for the future, many of which end up on the scrapheap - I'm excited to pursue those which make the cut.
But all of that will happen in due course. For now, I'm just taking each day as it comes, and enjoying where things are at!
