As a new financial year begins many business owners start thinking about budgets, tax planning and compliance obligations.
While these things are important, they’re only part of the picture.
The start of a new financial year is also an opportunity to step back and ask a bigger question… Where do you want your business to be in 12 months, three years or even five years’ time?
We believe a good accountant should do more than report on the numbers. They should help business owners create a clear business plan, identify opportunities and make informed decisions that support long-term success. That’s exactly what Verliyah Chartered Accountants do.
Start with clear goals
One of the planning frameworks we regularly discuss with clients is SMART goal setting.
Goals should be:
- Specific
- Measurable
- Achievable
- Relevant
- Time-bound
The framework itself is simple, but the value comes from turning goals into action.
The most effective business plans start with a long-term vision and then work backwards. Once you know where you’re trying to get to, it’s much easier to identify what needs to happen over the next 12 months, this quarter and even this week to move your business forward.
More than compliance
Many business owners only hear from their accountant when it’s time to prepare financial statements, lodge tax returns or meet compliance obligations.
We believe there should be more to the relationship than that.
Your accountant should be someone who asks questions, challenges your thinking and helps you stay focused on your goals.
They should be helping you understand the story behind the numbers, identify opportunities, navigate challenges and make informed business decisions.
Most importantly, they should genuinely care about your success.
One of our clients, Jordan Burke from Inform Physiotherapy Care Bendigo, recently reflected on the role strategic advice has played in the growth of their business:
“Very grateful for Ben’s input into the sustained growth of our business.
We’ve always had a plan in place, that would constantly change for each stage of business growth we’ve been able to achieve and it’s been extremely comforting knowing that we are leaving no stone unturned in our goal achievement. Lots of strategies created and solutions implemented!
Anytime there has been questions or a need to catch up and solution-source, Ben has been there and had our back, finding a solution that fits perfectly for what is needed.
We’d certainly be lost without his input into our time as business owners and cannot place a dollar value on how important it is to have a trusted adviser, strategist and hand in everything financial for our business.”
For us, this reflects what a strong accountant-client relationship should look like. Working alongside business owners to create solutions, overcome challenges and work towards their goals with confidence.
Ready to plan for the year ahead?
Verliyah Chartered Accountants work with business owners in Bendigo and Castlemaine to develop practical strategies that align financial performance with long-term business goals.