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Too Many Chiefs….

Apr 21 2016

As an accountant and business advisor, we are privy to an abundance of information that pertain to our clients.

From a person’s spending habits to their ability to save, we have direct insight, and although we do not use it for any other purpose other than for its intended use, we cannot help but analyse and assess, to see if it can be improved upon in any way possible.

Through this privilege as a client’s trusted business advisor, we can help our clients grow their business, we can help with their cashflow or sometimes, we just give them some good old fashion advice about any area that we see that can be improved upon.

We make no judgements. If they happen to frequent Gucci a few times a month, fabulous!!! It is great to see our clients reward themselves for a hard few months. Or if they happen to overspend at Hobby Co – that’s ok – so long as you are having some down time in order to keep sane during the busy period. After all, we are here on this earth to enjoy ourselves, and not just to work ourselves to the ground right?

What upsets us most is not this. What upsets us is when we see a client spend their hard earned money on so-called “experts”. Now, do not misinterpret this. We are not here to undermine any person’s credentials or personal/business achievements.  This is not a direct target at any “experts” in any way. This is targeted towards those people, like some of our clients, who just fall into the trap of engaging half a dozen experts, spend thousands, in the hope that they will achieve whatever it is that they are hoping to achieve (and sometimes, believe it or not, even the client themselves do not know their own goals).

They buy into the great sell of the promised land, the abundance of money, the freedom to do whatever you like, the ability to retire by the time you are 20 and so on. But really – is this what you want, and secondly, does this suit your life and third – is it achievable for you?

About 2 years ago, we met a person who eventually became a client, but who really opened our eyes to this world of experts and leaders and chiefs.

She had spent anywhere between $100,000 to $150,000 on industry experts, to become liberated from the 9 to 5 job, so that she could spend more time with her children. In her case, she did know what she wanted. But in her case, that $150,000 could have been better spent elsewhere. This client was able to spend the time she wanted with her children, but she didn’t need to spend the $150,000 to get there. What she ended up achieving, she did so without any help or advice, from the $150,000 worth of industry experts.

We believe in experts. They do exist. There are genuine people that are qualified experts, in their field, occupation or skill set, and have achieved that status through hard work and through their accomplishments.

What we don’t believe in, is people who have given themselves the title of “expert”, engage in hype and hysteria, and top it off with some fantastic marketing tools – then charge people like our poor client, thousands and thousands, because they believe. All because these people dream, believe and trust. Call it naivety. Call it stupidity. Call it whatever you like. At the end of the day, it just doesn’t seem fair or right.

Two thoughts about the markings of an expert -

1) In this day and age, with online publications and newsletters, anyone can publish. Whether it is an article or a book, it can be done with greater ease than it ever was possible in the past. But does this make you an expert? Or is it more of who you know? Touchy subject to be addressing, but it is here for you to think about.

Almost everyone we meet is trying to publish or be in the media. Yes, it gives you publicity, but does it really make you an expert?

2) Has your expert achieved what they are preaching? This is the quickest way to catch them out. We have seen cashflow coaches who are on struggle street themselves. How on earth are they teaching their disciples to generate cashflow? If you have not tasted a lemon, how can you describe to someone else what it tastes like? Equally, if the expert cannot show their achievements in their own personal life, how can they be teaching the same strategies?

Success can rarely be hidden from the discerning eye – so keep an on it.

 

 

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