Small business tips

Solving Your Problems

As an accountant we love to solve your problems. They don’t even need to be financial problems. Accountants are not just good with numbers, they are usually good at business. A common misconception is that accountants are tax nerds, sure that’s one branch of accounting but don’t forget all the other avenues we can take with our accounting degree.

Strategic management accounting, business analysis and performance review is a necessary function to controlling your business and ergo, your financials.

How do you go about solving a problem?

If you have the ablility to access a Financial Controller, Business Manager or accountant should approach your problems as opportunties to learn, innovate and create solutions.

CPA Australia release a weekly podcast for free that can be accessed via iTunes or the podcast ap on your phone. These are great tools for professional development. A recent podcast addressed this very issue of problem solving hence my post today!

When you are presented with a problem in your business you can change the way you handle and solve it.

You can ask yourself the five why’s- why, why, why, why, why? This traditional technique can help map out the challenges and a path to resolution.

The second approach is to change your perspective. To relook at the problem in a different way. The following example can be considered; if you come to me and say I am not making any sales we could rephrase this as
– my customers aren’t buying enough
– my sales people aren’t selling enough
– my competitors are beating us

and in changing the narrative you have three different solutions to the lack of sales. This might be expanded to

My customers aren’t buying enough on our web store?

  • Is our digital strategy right?
  • Have we got the optimum amount of traffic?
  • At what point has the customer stopped committing to the sale?
  • What is the barrier to the sale? Credit card, internet to slow, price too high?

Now we are creating a strategy to deal with the simple question of why am I not selling enough?

If you think you have some problems I can help with then lets catch up for a virtual coffee and a chat! Solving problems is what I love to do!

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s