It’s time to Reset, Refocus, Readjust & Restart.

Hi There,

Thanks for clicking in. Can you believe the end of another financial year is almost here? All the End of Financial Year checklists have started circulating – great reminders for us all to get organised and #beprepared (no I wasn’t a scout, but what a great phrase!)

The June / July period is always a time of reflection for me. It’s a time for the goals from last year’s highs and lows to be re-assessed and performance check ins to occur.

For over 12 years, I worked in a Business Management role for the one company. I reflect on my time in this role with such fond memories and as a period of great learning. During my time in this role, I learned how important the June / July season is for Business Management & Planning. This is for a few reasons; firstly I was there for such a long period of time I was able to see what did and didn’t work. How things changed and how the decisions made from a management level took some time to eventuate to a goal. Patience certainly is a virtue. I also learnt that the little steps and changes really do compound. It taught me the importance of always checking in on a business level – this really is where my love for management accounting grew.

The Compliance figures are crucial - How much profit? How much tax? How much do I pay? But what about the non-compliance figures - what is your most profitable service or product? Who is your most valued employee? What is your highest expense? How variable to economic factors is this expense? If the supply price increased 5%, how much would you need to charge to cover the extra cost? Can you charge it? Will the customers pay? These indicators are so important – when you measure them you can manage them.

This may just be my very analytic brain, I am always assessing systems and processes. I am always looking for more efficient processes and to produce and measure non-compliance indicators. But during June & July and throughout the end of year finalisation processes, I really do analyse, compare and look for as much as I can that’s changed.

I ask myself, Why did it change? Is it better? Is it worse? How did everything go this year compared to last?

This year has delivered unprecedented circumstances. No amount of preparation and well planned strategic business advice could have prepared anyone for COVID-19. I really do hope that all of you who have needed support have been able to access it and quickly as well. Financial stress is an incredible burden.

So amongst all this crazy busyness that we always seem to find ourselves in, I’d encourage you to look at the checklist peeps are circulating. Get organised and be prepared for end of financial year.

But honestly, more importantly; take some time to reflect on the past 12 months. What are you happy with in your business? What would like to change? June and July is a notorious time of year for change within the accounting world.

People like to start the new financial year with their decisions in play. If you are considering any changes within your business, I’d be happy to go over these with you.

It doesn’t cost a cent to call me and have a chat.

One of my absolute favourites phrases – "Reset, Refocus, Readjust & Restart – as many times as necessary.” Keep this in your mind during June & July.

I have made a lot of changes in the past 12 months – so I have a massive sense of reflection at the moment. I trusted my gut and took a big leap of faith. This is very hard for a Virgo! But in all honesty, up until 5 years ago, all of my well laid out plans were working, then life just had a few unplanned twists and turns, and the rug was pulled out from my feet. It taught me resilience, it also taught me to be patient and my faith played a big role.

Grab your favourite drink, go for a run, put on some music, back a winner, whatever it is that helps you chillax a little and take some time to reset, refocus, readjust & restart the new financial year with a fresh mind and clear goals.

Happy End of Financial Year Peeps.

Here to help.

Suzi G.