Ascentant Accountancy’s Post

🌟 Excited to be featured in the latest Forbes Council article, "20 Expert Tips For Encouraging CPAs To Be More Entrepreneurial"! In today’s fast-paced environment, fostering an entrepreneurial mindset among CPAs is key to driving innovation and growth. My tip? Give ownership of projects and encourage collaboration. When we empower our teams to make decisions and explore creative solutions, they deliver more impactful, client-focused services. 💡 Check out the full article for insights from other industry experts: https://lnkd.in/d5yHkDZk #IPO #Forbes #CPAs #Entrepreneurship #Leadership #Innovation #Business #Teamwork #Accounting #Finance

Where Business Ideas Strike: A CA Student's Perspective As a Chartered Accountant (CA) student, I've often found myself pondering the age-old question: where do business ideas come from? Do they strike in a bustling gathering, or in the quiet solitude of a comfortable spot? For me, business ideas tend to emerge when I'm sitting alone, reflecting on my experiences and observations. It's as if the stillness of the moment allows my mind to wander and connect the dots between seemingly unrelated concepts. However, I've also had my fair share of eureka moments in gatherings, where conversations with others have sparked innovative ideas. The exchange of thoughts and perspectives can be a powerful catalyst for creativity. So, where do business ideas come from? The answer is: anywhere and everywhere. It's essential to stay open-minded, curious, and receptive to new experiences and ideas. As a CA student, I believe that starting a business can be a fantastic way to apply theoretical knowledge to real-world problems. It's essential to identify your passions and strengths, and then find a business idea that aligns with them. Remember, starting a business is not just about making money; it's about creating value, solving problems, and making a positive impact on society. So, don't be afraid to take the leap and turn your business ideas into reality. With hard work, determination, and a willingness to learn, you can succeed as a CA student entrepreneur. *Let's Connect* If you're a CA student or a young entrepreneur, I'd love to hear from you. Share your business ideas, experiences, and challenges in the comments below. Let's connect and support each other on our entrepreneurial journeys! #CAStudent #Entrepreneurship #BusinessIdeas #FinancialLiteracy #Ecommerce #TaxPreparation #Bookkeeping #Accounting #FinancialConsulting #Startup #SmallBusiness #Entrepreneur

Meet Wayne Findlay. He's running a kick-arse business. 🤛 (The Back Room Outsourced Professionals Room provides offshore accountants for mid-tier accounting firms in AU, NZ, the US and the UK - and they’re awesome at it) The business is growing well, but so is the list of complex decisions Wayne needs to make. 😒 The problem is, he's never run a business this big. So, how's he supposed to know what to prepare for as it scales? How's he supposed to know if he’s got the strategy right? How's he supposed to know how to tightly align and integrate strategy with operations? How’s he supposed to know if he’s making the best possible decisions when navigating big opportunities or scaling challenges? He’s not supposed to know. Cause he hasn’t been there before. And that’s completely normal! We don’t know what we don’t know. But the smart Founders, the humble ones, reach out for help. The stakes in entrepreneurship are high, and every choice can significantly impact your legacy and future. The common thing about all the Founders that I work with is... The business is going well. It's on the brink of something great. The Founders have big goals they want to achieve (might be to scale up, sell down exit...or something else!) But they also know that they can't do it alone, not without a bit of help... That's where my growth mentoring comes into play. That's what I do. Giving clarity and creating accountability to work on the business but on the right things, so Founders can focus on what truly matters. Maximising opportunities, navigating hurdles and enabling their team to succeed…. Ultimately, they can reach their goals faster and more easily than they could alone. 🥅 If that sounds like you… And you’d like to learn a little more about how Growth Mentoring and Advisory Boards work So you can get the kind of support in your corner that Waynes got.. DM me. Let's chat. #BusinessGrowth #ScaleYourBusiness #GrowthMindset #BusinessStrategy #AdvisoryBoards #GrowthMentor #ScaleHQ

Celebrating CA-Turned-Entrepreneurs: A Journey of Financial Expertise to Business Success ✨ The journey from a Chartered Accountant (CA) to a successful entrepreneur is not just a career transition; it represents a profound transformation of skills, mindset, and vision. CAs are trained to think critically about numbers, regulations, and strategies, which uniquely positions them to navigate the complexities of the business world. Their rigorous education equips them with a deep understanding of financial principles, tax laws, and compliance—tools that are invaluable in the entrepreneurial landscape. In an era where innovation and agility are paramount, the analytical mindset and disciplined approach that CAs possess become significant assets. Many CAs have recognized the opportunities that lie beyond traditional accounting roles, channeling their expertise into creating impactful businesses across various sectors. They leverage their financial acumen to identify market gaps, drive operational efficiency, and implement robust business strategies. Moreover, the entrepreneurial journey is often fraught with challenges, but the resilience and problem-solving skills developed through a CA’s training empower these individuals to adapt and thrive. They bring a unique blend of creativity and pragmatism to their ventures, ensuring that their businesses not only survive but also grow and scale in competitive environments. As we delve into the inspiring stories of CA-turned-entrepreneurs, we celebrate their achievements and the diverse paths they have carved out in the business world. Why CAs Excel in Entrepreneurship 🙌 ✨Financial Acumen: CAs have a deep understanding of finance, taxation, and compliance. This expertise is critical for effective financial management, ensuring that businesses remain profitable and sustainable. ✨Analytical Skills: The rigorous training CAs undergo equips them with strong analytical skills, enabling them to assess market trends, customer needs, and financial data to make informed decisions. ✨Regulatory Knowledge: With a solid grasp of regulatory frameworks, CAs are well-equipped to navigate complex compliance issues, minimizing legal risks for their businesses. ✨Risk Management: CAs are trained to evaluate and manage risks effectively, an essential skill in the unpredictable world of entrepreneurship. Their ability to strategize and mitigate potential pitfalls is invaluable. These entrepreneurs showcase how financial expertise can lead to remarkable business success. Their journeys remind us that with the right skills and vision, the possibilities are endless. Please find the below attached pdf with CA turned entrepreneurs ⭐ As we celebrate these remarkable individuals, let’s acknowledge the invaluable contributions of CAs in shaping the entrepreneurial landscape. Their journeys remind us that with the right skills, vision, and determination, the possibilities are truly endless.

🌟 Happy #MotivationalMonday to all the pioneering solo and small practice owners out there! 🌟 As I make my way to the LightYear Docs Unstoppable Growth Conference in the stunning Kingscliff, a quote by Abraham Maslow resonates: “One can choose to go back toward safety or forward toward growth. Growth must be chosen again and again; fear must be overcome again and again.” This powerful thought is a timely reminder as we gather to learn, innovate, and push the boundaries of what’s possible in our field. Choosing growth isn't always the easiest path - it requires courage, resilience, and an unwavering commitment to step outside of comfort zones and put ourselves out there! Yet, it is this very choice that propels us forward, transforming both our practices and personal lives. This week, as I immerse myself among amazing entrepreneurs and like-minded peers, I am reminded of the incredible potential that lies in collective wisdom and shared journeys. We are not just here to grow our businesses, but also to expand our horizons and challenge the status quo. So, to each of you back home or in your offices, grappling with decisions big or small, remember Maslow’s words. Choose growth, confront your fears, and step confidently into the opportunities and challenges ahead. Whether it’s adopting a new technology, reshaping your business model, or simply deciding to network more actively, every step forward is a step toward greater success. Here’s to a week of bold choices and unstoppable growth. Let’s embrace the journey of continuous improvement and make every decision count! #MondayMindset #MondayMotivation #MondayMojo #Gratitude365 #AbundanceMindset #Ikigai #Purpose #LoveYourPracticeLoveYourLife #BetterPracticeBetterLife #TheBalancedFirm #TheThreeFreedoms #FinancialFreedom #TimeFreedom #MindFreedom #AccountingPracticeCoach #SMPCoach #GrowYourAccountingPractice #CAANZ #CPA #IPA #IPAAustralia #CharteredAccountant #FCA #GAICD #DifferenceMaker #DoingItForDempsey #DoingItForDemo

I voted for……. Xero 😁 Their commitment to empowering small businesses with user-friendly accounting software aligns with my belief in nurturing entrepreneurship and innovation. I believe in a future where small businesses have the tools they need to succeed, and Xero is leading the way in making that future a reality. #SmallBusiness #Entrepreneurship #Xero #generalelection24 #ukelection2024

I remember walking away from my 9-5 that paid me 44k year to hire myself as a unqualified CEO. Starting a small business in 2018, my journey has been anything but smooth. Here are some of the real challenges I’ve faced: 🔸 Merchant Fees Confusion: I didn't fully understand merchant fees, resulting in unexpected costs that ate into my profits. 🔸 Held Reserves: Thousands of dollars were held in reserves because my business was considered “high risk” due to its name, leading to higher reserve percentages and cash flow issues. 🔸 IRS Challenges: I owed $7k to the IRS because I was taxed at 15.3% as a sole proprietor. I didn’t know to change my tax classification to an S-Corp, which could have saved me money (shoutout to my accountant who finally guided me through this). 🔸 Financial Literacy Gaps: From not knowing how to manage finances to misunderstanding the importance of financial planning and literacy, the early days were a steep learning curve. 🔸 Rebranding and Legal Amendments: I went through four different logos and two name change amendments with the Secretary of State, each iteration teaching me more about branding and legal intricacies. 🔸 Tax Classification Missteps: The complexities of tax classifications caught me off guard, leading to costly mistakes that took time and money to resolve. These experiences are rarely shared on social media or in traditional business development classes. That’s why I created Conquer & Prosper eLearning —to reveal the realities of entrepreneurship and provide an unfiltered look at the journey. Tomorrow we're launching our first online course on the Conquer & Prosper eLearning Platform. If you've been following me, you know how passionate I am about "Conquer Your Business Like a Champ." This course, formerly my 8-hour business building class, attracted students from across states, highlighting the unique, invaluable content we offer. Since 2018, I’ve grown through start-stops, rebrands, logo changes, and more. If you're ready to embark on your entrepreneurial journey, join "Conquer Your Business Like a Champ" and thrive with us. Enrollment opens tomorrow. Sign up for my newsletter and get $100 off! https://lnkd.in/gAkgwNfw Thank you to everyone who has been part of my journey—your support has been invaluable! 💪✨ #Entrepreneurship #SmallBusiness #BusinessGrowth #StartupJourney #OnlineCourse #ConquerAndProsper #BusinessDevelopment #FinancialLiteracy #BusinessTips #Leadership #EntrepreneurLife

If you want and need some inspiration on how to turn around a declining practice and rediscover your joy of accounting and tax, then do read Graeme Morris story: https://lnkd.in/exuzVqrW

🚀 What drives someone to transform from a public accountant to a tech-savvy entrepreneur? Jim Buffington shares his entrepreneurial journey from working in public accounting to launching a dotcom and advancing the world of tax and accounting with technology. 🌐 "Embracing failure as a step towards success, openly sharing ideas, and prioritizing customer empathy can transform your business." - Jim Buffington Tune in to learn about Jim's journey, how he navigated challenges, and his powerful insights for aspiring entrepreneurs. Don’t miss it! 🎧 https://loom.ly/7tg4JlM #Entrepreneurship #TechInnovation #AccountingRevolution

Is your firm Exit Ready? There is a core strategy that I believe every business should adopt irrespective of sector, size or structure That is the Built to Sell Strategy. The one certainty we have in business is that at some stage in the future we are going to have to exit our business. For some firm owners that is a long way into the future and for others it is a near term consideration. Adopting a Built to Sell Strategy is clearly critical for someone who wants to maximise the exit value of their business. But for anyone running a business at any phase of their career or business life cycle who would not want to 👉 maximise the value of their business: 👉 optimise their cashflows: 👉 minimise debtors and work in progress: 👉 develop a self managing business that will work without the original founders For me this is why getting Exit Ready is critical for all business owners. Young and not so young getting Exit Ready is about building a profitable, sustainable, scaleable, saleable business that is a self managing firm. Its the entreprenuerial dream!!!!! I have been helping accounting businesses sell and exit for over 20 years and I am currently running a Free Built to Sell Masterclass which consists of 4 short Modules that sets out the foundation insights into of getting your accounting bookkeeping or tax advisory firm Exit Ready. You can access the Free Masterclass on TheProfitPro.com or by following this link https://lnkd.in/ePXtau5U. The Free Masterclass is running over the next 10 days. . Whether you are a large multi partner firm or a smaller sole practitioner firm. Whether you are a mature long established firm or you are whether you are a startup this Masterclass is the place to be if you want to build a profitable sustainable scaleable saleable firm. I hope you join me. Just click the link ☝ If you know an accounting or bookeeping firm owner who could benefit just tag them in the comments #innovation #strategy #mergersandacquisitions