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10 minutes with Michael Grace | Looking ahead to 2021

What are the biggest changes you have seen your clients making in their business since Covid?

The biggest changes I have seen clients make since Covid is around their planning. We’re seeing clients become more focused around their business plans and with that there’s definitely more focus on understanding the numbers and ensuring they are aligned with their direction. Another thing which I am hearing more about is definitely around team care and well being.

What are you doing differently in your business since Covid?

Since Covid we’ve looked at a number of different things, trying to change things up a bit.

We’ve introduced a scoreboard for some of our key numbers making sure it’s all visible to the team and we’re working together towards those goals.

We’ve introduced some quarterly themes (or goals you might prefer) - with the focus on the quarter ending December. As a team there are some key themes in play and together we are working on these to create some big differences within our business. One of the outcomes already is that we are finding we are more organised as we implement changes.

What do you think the biggest challenge for business is for the 2021 year?

There’s definitely going to be a number of different challenges businesses are going to face and unfortunately I think the biggest one is the uncertainty. It’s difficult times globally at the moment and Covid has created a nervousness which can make it hard to make decisions. There’s so much noise and it’s hard to know where the economy will end up.

But I think as business owners we need to focus on what we can control. I mentioned earlier about a scoreboard and understanding those key numbers. Unless you have visibility of the numbers you’re flying blind. By understanding the key numbers you have control and can remove the uncertainty.

If you had one key message to share with your clients at the moment what would that be?

If a client asked me one thing they could do to improve their business today. It’s simple. Know your numbers. It gives you certainty and helps you develop strategies to drive your business forward.

What are you reading at the moment?

Scaling up by Verne Harnish.

Best piece of advice you’ve received recently?

It’s from a sales perspective. It’s around making sure you provide a value ladder. Giving clients a range of choices starting with something that feels achievable and then creating next steps which are easy to say yes to as they grow in confidence.

For example a business may provide an introductory offer that delivers well and then providing the next steps assists them to move forward with confidence.

At Grace Team Accounting were dedicated on providing solutions to grow and develop your business. If you would like to find out more contact us on 578 5416.

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