BAS-on … BAS-off … BAS-on … BAS-off

BAS-ON/BAS-OFF – BAS-ON/BAS-OFF – BAS-ON/BAS OFF – BAS-ON/BAS-OFF
A bit repetitive isn’t it? For years when I was growing my business and personally responsible for preparing dozens of BAS’ for lots of clients there were only two speeds - Frantic during the BAS period (BAS-ON) and busy when it had finished (BAS-OFF). During BAS-ON I worked 12 hour days and didn’t see much of my family or friends (sound familiar). It was exhausting when we only had 4 weeks to lodge the BAS. As a Registered BAS Agent, it is a relief that we can take advantage of extensions for some of our clients but the hidden cost of that is that BAS-ON now lasts 6 weeks instead of 4. So let’s break that down:

Out of say, 48 weeks of the year, there are 7 National Public Holidays and perhaps another 3 or 4 State Public Holidays (depending on what State you are in). BAS-ON lasts, say, 6 weeks (although this can be extended further). If you are frantic during BAS-ON as I was, then let’s wipe that out as well (in terms of being able to market your business consistently). So out of 48 weeks, we need to deduct another, let’s say 28 weeks (6 x 4 = 24 plus say 2 weeks Public Holidays). That doesn’t account for any sick leave.

That means you have 20 weeks in the year to systematically market your business, recruit great bookkeepers and manage everything else. That’s really not much time is it?

What was detrimental to my business growth was that I wasn’t actively and systematically marketing my business during BAS-ON because there was simply not enough time. Lots of other “important but not urgent” tasks also fell through the cracks. Perhaps you are saying, “but I don’t want any more clients.” That’s fine if you want a Practice and not a Business. With a practice, your biggest challenge will be turning people away who you know you can help. You know that that the only way of remaining sane when you are working on your own is to choose the clients you want to work with and how many hours a week you want to work and sack the rest. So, if you want to grow your successful Practice to a profitable business you may be asking yourself if it’s possible.

The good news is that the answer is yes (I’m the proof). The bad news is that you can’t rest during the BAS-OFF period. The other bad news is that the very action you have probably put off taking is the very thing that will save you from a life of going from frantic to busy. That action? Creating documented systems that you follow and you teach your team to follow as well, which have a proven outcome that you trust (I can hear that collective groan again). Let me say that I know how you feel. Out of the 10 years since I started my business, I have spent the past 8 writing detailed systems (and improving and re-writing over and over). I started with bookkeeping systems (as that was the key). So I know how hard it can be. We’ve estimated that it took me over a year fulltime! OMG! I’m not expecting you to take a year off to write your systems but what I am saying is that if you don’t start using systems in your business your life will be at the mercy of BAS-ON/BAS-OFF – BAS-ON/BAS-OFF – BAS-ON/BAS-OFF – BAS-ON/BAS OFF. And, believe me, that’s not a place you want to stay in for long!

Start thinking about what bookkeeping systems you can introduce in your business to take the pressure off you.

In the meantime, if you have any questions please don’t hesitate to get in touch and contact us here, or to find out more about improving your bookkeeping business check out our free video here.