Small Business Life Lessons with Empire Accountants

Posted 23 May '18

Did you know, there are more than 426, 000 small businesses operating in Queensland? In fact, we’re the core of every industry, make up 97% of businesses statewide and employ 44% of private sector workers.

When you look at the stats it’s easy to see how important small businesses are to Queensland. Yet owning and running a small business isn’t an easy task, it’s a job that takes resilience, determination and sometimes the ability to pat your head and rub your belly at the SAME TIME.

If you’re a small business owner reading this, we don’t need to tell you twice, so instead, we thought we’d compile a list of our favourite not-so-serious life lessons we’ve learnt thus far…

7 Small Business Life Lessons

1. Cherish the start-up phase, when you’re searching for clients and procrastinating on Facebook, as those times will pass.

2. Having a staff member that brings in cakes daily for the office, will in time, make everyone put on weight. But it is good for office morale!

3. Marketing meetings at the office are far more effective than marketing meetings at the pub.

4. Alcohol and Food is not tax deductible at a staff party – Seriously get up to date with your entertainment expenses.

5. You will always regret booking a 5pm meeting on a Friday.

6. Yes, CRM systems are important. Yes, you probably will go through 3 – 4 until you find one that suits your business. No, you probably won’t keep it up to date or use it to it’s full potential.

7. Going to a networking breakfast at 6am, unprepared and realising you have to stand up to give your elevator pitch is almost never a good experience… It won’t kill you though and you’ll learn a lot.

In all seriousness – It’s making the mistakes (sometimes repeatedly) and learning the lessons that make the best memories in your business, so forget what we said and do what you were going to do anyway.

From our small business to yours – Congratulations for doing what you do!

Empire Accountants