Hello folks. I am loving the fantastic summer. I hope it continues right up to the end of the season. I think we deserve it, after previous in name only summers.
My week was so-so. Though better than last week. I managed to keep control of my todo list.
Jack of all Trades
As you know in any startup to a growing business the owner has to be a jack of all trades. There is a limit to the amount you can delegate if you have that luxury.
My week was in the main being a jack of all trades. Here is what I mean (boring stuff but it helps to make my point):
- Q’s desktop stopped working. Spent a considerable amount of time trying to fix it. Failed. Took the desktop to a local repair shop. After some toing and froing, the conclusion was the desktop was beyond economic repair.
- To ensure Q time was not wasted. I set up a spare lower spec desktop so that chargeable hours were not lost.
- Since I am now using an iMac, I removed personal data from my Windows desktop. Got to the office before Q start of the day and set up my Windows computer for her. It is now her computer, by the time she got in, she had a fully functioning computer.
- FT store ceiling is leaking from rainwater. Getting my maintenance person to fix the problem has been hell. He is in love, and no longer functioning as a normal person. Whenever I called him, I was forced to hear his relationship issues. What is it with men! The ceiling is still NOT fixed. My maintenance person is now in Romania to win the heart of the lady he is besotted with.
Above are just some of the issues that I dealt with that were not practice expansion or client work related.
The more time I spend studying, the more I think, I should have done this earlier. The benefits outweigh the costs and the pain. The pain for me is the time lost on building up FT Practice Ltd. It is the price I am willing to pay for the long term.
I do not agree with the view CIOT is an overkill for a small practice. I would argue, for a small practice that will NEVER niche, it is compulsory especially if you are not from a tax/practice background.
Seeing more and more contributors on AccountingWeb who have disclosed their practice’s name, as means to get the exposure through being seen as an authority on the subject they discuss/write about. Understandably, the real objective is to drum up more business. It has made me think. Should I adopt this approach? Draft blogs with a high positive spin and not reflecting the lows of a small practice owner. I am not sure.