Giving you a
little time for
yourself

Talking Cents

December
November
October
September
August
July
June
May
April
March
February
January

Small business accountant Sydney providing some key advice

key advice from sydney's small business accountants

The word “No” is often seen as a dirty word for the small business owner. The inability to say no at the right times has all sorts of downsides for the average small business owner. As small business accountants based in Sydney, we often see our clients taking on the wrong type of work, creating a significant negative impact on their business.

As a result, many small businesses in the start-up phase say yes to any and all offers of work that come their way and whilst this is completely understandable and provides a great learning curve, the problems start when small business owners don’t learn to say no at the right times.

With experience you will soon be able to tell a good customer from a difficult one and when to say yes and when to say no, politely of course. Here are 3 key tips that will help you to decide if the answer to potential new business should be yes or no.

1. Will this customer bring long term value to the business? If so, the answer is more likely to be yes, even if you feel like the customer may not be that easy to work with. A difficult customer that is only ever going to use you for a one off service is going to impede your ability to build long term relationships with better customers.

2. Will the work involved turn a profit? Unless the answer is yes, then be wary of taking on any jobs for the sake of having work to do. You could end up missing out on better profit-making projects or sources of income while slaving away on a break-even job.

3. In terms of time, will the customer’s expectations of your work fit into your schedule? Unless it does, the work is likely to raise your stress levels. Learning to say no is a key business skill that will allow you to focus on building the core business you always wanted, not the business your less than ideal customers expect you to be.

So whether your small business is based in Surry Hills or Alice Springs, think about the type of client you want, and go after them!

 
Liability limited by a Scheme approved under Professional Standards Legislation