23TOTAL ACCOUNTING KENT |
BEST PRACTICE REPRESENTATIVE 2019
As the business became more successful
I took on a business mentor to help me
understand what I wanted to achieve.
This proved to be an excellent decision
and he helped me create a clear vision
and plan that I have since delivered on.
The growth we have experienced in
the past three years has been beyond
my expectations, and it has given the
business momentum. I place support at
the centre of the business and I always
advise clients to get the support they
need. I therefore followed my own
advice. Without my business mentor, I
am not sure if I would have been able
to achieve what we have so far or built
the foundation to grow further.
Since 2015 I have hired three other
staff members, moved into an office
in Rochester and begun investing in
effective marketing and branding. Our
strategy going forward is to continue
growing, but at a sustainable rate that
allows us to retain our personal service.
We have just opened another office
in London, which I will oversee from
Kent. I will take lessons from my
own experience, and by hiring the
right people and the extension of our
systemised processes, I am confident
the expansion can be successful.
Beyond that, I am looking at expansion
in Surrey and perhaps elsewhere.
Hiring and the challenges of
change
On a micro scale, recruiting people
who will be a good fit for the business
and our clients has been one of
our biggest challenges. It has been
frustrating and time consuming to
receive applications from people who
do not have the requisite skills or falsely
claim to be experienced individuals with
the skills required. Retaining the best
bookkeepers can also be hard as many
consider setting up their own practice
when they have managed to build a
client base. The struggles I experienced
hiring nearly caused me to stop my
growth plans altogether; however,
I persisted and I’m pleased that my
current team are excellent.
On a macro level, an ongoing challenge
is remaining ahead of our competitors
with regards to legislation changes
and the technology that have hugely
impacted our industry. Tax legislation is
ever changing and the announcement
of Making Tax Digital is one recent
example. Our role is to be aware and
prepared for any potential change
that may impact on our service, or our
clients, and react accordingly.
Another example is the impact of
GDPR. We have always been aware
of our responsibilities for the data we
hold and process, but it has still proved
a challenge to establish how we can
minimise the impact for our clients,
while also raising awareness with them
of their responsibilities.
New software and technology have
brought much change to our business.
Cloud software, OCR technology,
open banking and new software that
provides solutions to our previous
problems have all helped bring new
efficiencies to our business, further
improved our collaboration with our
clients, developed our operational
excellence and enabled us to show how
our clients can help do some of their
own record keeping such as copying
receipts. Overcoming such challenges
and embracing the benefits created
by disruptive change have created the
foundation for our growth.
»MOVING FORWARD
Factors such as our team ethos, our client focus, embracing advancing
technology, software development and proven operational processes will
contribute to our future success and that of those who operate a similar
business. Within three years we aim to have the London office, running
independently, with someone heading the business who shares my vision,
ambition and commitment to our clients. Beyond this, we plan to launch
further offices on the same model and continually grow the team in Kent.
We will continue to adapt to any further change in the industry, as we have
seen the benefits of being an early adopter. Change has been greater in
the last few years than the decades before and will continue to come at a
pace, but we will be ready to embrace the opportunities presented. Smart
hiring, continual operational development and maintaining our attention
to a quality personal service are all key aspects of our plan for expansion.
The Rochester team after
meeting reporters at the
Medway Messenger
I will take
lessons from my
own experience,
and by hiring the
right people and
the extension of
our systemised
processes, I am
confident the
expansion can
be successful
“
“
Rt Hon The Lord David Blunkett
Rt Hon The Lord Eric Pickles
