Is the success of your small business the luck of the Irish ?

Happy St Paddy's Day !

Yesterday I had the privilege of working with a client in the Construction Industry. They have been using Xero for approx 2 years. They came in to see me as they were just taking the step away from engaging contractors to engaging employees.

Now remember I said that they are in the construction industry. What was a simple catch up turned into a 2.5 hour 'chat' about all the steps they needed to complete to become an employer.

We covered : tax file numbers, wage rates, Fairwork, Co Invest, ABN lookups, Super Choice Legislation, Privacy Act, Registering for Workcover, becoming an employer for super funds, employee v contractor, 17.5% leave loading, overtime, penalties, engaging the owners as employees, timesheets, payroll processing and so much more.

Now - most clients would have glazed over and, in a fit of pain, decided to change their mind about employing - these clients decided to face this business challenge head on.

What was truly great about this attitude was - it didn't require luck.

It required clear decision making and connection with the right advice.

It resulted in a great conversation the next morning between me, as the BAS Agent and the client's accountant about how we could better serve the client's needs in providing advice about the business profit. How we could be 'in front' of the 30/6/17 deadline.

The client's choice of software, commitment to keeping their bookkeeping 'clean' and an overall passion for their business was not the result of luck either.

Being a success in small business takes guts - you need to take risks, learn on your feet and be open to new processes.

Luck will get you so far - hard work will consolidate your gut instinct - but great advice will help you succeed - no luck required!